AI improves company profitability by 15% (Expert) --[Reported by Umva mag]

APA-Abidjan (Cote d’Ivoire) – The use of artificial intelligence (AI) in human resources management can lead to more accurate recruitment, reduce mismatches and increase overall productivity, according to analysis.

Dr. Redda Ben Geloune, an expert in artificial intelligence, presented the results of his doctoral research on AI in human resources management in an organisational context in Abidjan on Wednesday 5 June.

Artificial intelligence models have shown a prediction accuracy of 85 percent, compared to 60 percent for traditional statistical methods, said Dr. Redda, adding that “as for human decisions, their accuracy is only 49 percent.”

”Today, we need to understand that a company that implements AI has a 25 percent gain in productivity, but in terms of improved profitability, companies that implement AI-related technologies improve their profitability by 15 percent,” he said.

Artificial intelligence, he explained, is a branch of computer science that aims to create systems capable of simulating certain human cognitive functions and reproducing or surpassing certain tasks generally associated with human intelligence.

According to Dr. Redda Geloune, artificial intelligence is based on three pillars: development of algorithms, ability to collect massive amounts of data (big data) and growth of computing and storage capacity.

The AI expert, who is the director of the MBA Entrepreneurship and Innovation at the French Management Institute (IFG), noted that the development of local computing and storage power, as well as skills, is a safety valve for driving AI and controlling its data.

“If we improve the productivity of a company, we automatically contribute to the gross domestic product in a cost-effective way,” said Dr. Redda Geloune, pointing out that AI applications can be developed for any activity, but massive amounts of data are needed.

Cote d’Ivoire has 65,000 companies, 4 percent of which contribute 96 percent of the country’s GDP. In a projection, he simulated that if 10 percent of Ivorian companies adopt AI-related technologies, “we will improve the country’s GDP by 2 percent.”

At the political level, Redda called for a real national strategy for the implementation of all AI-related technologies. In addition, leaders must “support the integration of AI in companies through regulations and incentives.”

It is “imperative to develop the computing power” and data storage of African countries at the local level, Redda stressed, for whom there is a regional leadership role for states in AI-related technologies.

AP/lb/as/APA

The following news has been carefully analyzed, curated, and compiled by Umva Mag from a diverse range of people, sources, and reputable platforms. Our editorial team strives to ensure the accuracy and reliability of the information we provide. By combining insights from multiple perspectives, we aim to offer a well-rounded and comprehensive understanding of the events and stories that shape our world. Umva Mag values transparency, accountability, and journalistic integrity, ensuring that each piece of content is delivered with the utmost professionalism.