Use of AI in business

According to a study by LUT Business School, companies can gain a competitive edge from the use of AI through three different strategies.  

The key is to approach AI strategically and understand its importance to the company’s markets, customers, competitive sector, and partnerships.

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Companies can gain a significant competitive advantage by developing their own artificial intelligence solutions. AI can, for instance, improve product quality or develop business processes in line with the company's strategy. 

LUT University is building new AI solutions and related mathematical models. Research enables new AI solutions to

• take up less storage space and computing capacity and consume less energy without compromising computational features;
• function reliably and assess operational uncertainties and error margins;
• help companies utilise data from processes and operations in many ways.
   

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LUT is building mathematical models that take advantage of advanced machine learning. The models can improve process efficiency significantly. Research shows that AI can be used for purposes such as

• predictive maintenance;
• troubleshooting;
• improving workplace safety
• identifying and classifying various image objects;
• predicting phenomena and processes;
• optimising district heating regulation;
• signal processing;
• 3D printing.

AI can help companies respond more efficiently to changes in market conditions. In addition, increasing operational efficiency may be necessary for the company to take full advantage of their AI solutions.

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Artificial intelligence agents are new AI applications designed to perform tasks independently and in interaction with their environment. 

LUT is exploring human–AI collaboration and hybrid intelligence teams that include the organisation’s own employees, external partners, and AI agents. Working with an AI agent is a matter of trust and risk management.

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LUT builds mathematical models that not only process data but also help to better understand the entire computation process. Wide-ranging understanding, in turn, supports decision-making.  

Data make an organisation’s activity more transparent, helping company management understand and anticipate activities and their influencing factors. AI algorithms enable management to optimise and automate decision-making and prevent human errors related to decisions.

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LUT Business School has prepared four recommendations on how management should respond to the challenges and opportunities presented by AI: 

• ADOPT: Equip your team with AI tools. Research shows that artificial intelligence can improve productivity by 20–40 per cent. That is why managers should systematically encourage human–machine interaction.
• AUTHORISE: Encourage your employees to use AI. Provide staff members with data to support the decision to adopt AI. In addition, discussing new work practices is worthwhile. The use of generative AI can also improve the company's employer image.
• ACCELERATE: Optimise structures and processes to promote agility. Companies should introduce workflows based on automation and optimisation through AI, enabling swift and flexible operations.
• ANTICIPATE: Keep an eye out for unexpected changes. New artificial intelligence tools often appear on the market rapidly and unexpectedly. Be proactive and make sure your organisation does not fall behind and maintains a strong position and effective value creation mechanisms in the future.

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A study by LUT Business School indicates that artificial intelligence requires a strong approach from company management in five areas: 

1. Adoption: Make sure your staff adopts AI technologies permanently and extensively. Train and inspire your staff to experiment with AI.
2. Operations: Review the company’s processes, practices, and structures and make the necessary adjustments to daily work.
3. Offerings: Make sure the advantages of AI are tangible to customers in your products, services, and interactions.
4. Outcomes:  Verify AI's benefits, such as increased turnover, reduced costs, or improved product quality.
5. Renewal: Make sure your company remains resilient and relevant and generates value also in the future.

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Artificial intelligence will take the work of teams and organisations to another level as processes become more agile.

AI can also help develop new transferable skills. Organisations can accelerate the adoption of AI solutions through training and engagement.

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When using and developing artificial intelligence, it is important to consider both information security and compliance with EU regulations (e.g., GDPR and AI Act). LUT is exploring AI systems from the following perspectives: 

• Design and use of responsible information systems
• Design of secure and regulation-compliant AI systems
• Evaluation of AI systems from the end-user viewpoint

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Artificial intelligence is used as a tool for propaganda and disinformation. LUT's communication science experts examine AI from the following viewpoints: 

• AI's impact on the production and dissemination of propaganda and disinformation campaigns
• Digital technologies (e.g., AI, robotics, and quantum technology) used by international media
• Soft power
   

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Responsible AI refers to the ethical and socially acceptable development and use of artificial intelligence.  

It is also a matter of how we use AI. Is it supposed to help solve sustainability problems or increase consumption and production?
 

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