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Tech Insights 4 min read

Artificial intelligence for regulatory bodies

How can artificial intelligence be used to fulfill regulatory bodies? It isn't always simple to implement or accept change, and even in the era of data computerization, we can observe this phenomenon. And yet, much has changed in the way we do business in the previous few decades. We've transformed our entire way of life by adopting new purchasing habits which has fundamentally changed the professional environment. Now, artificial intelligence (AI) is rapidly growing in many aspects of society, and humans have adapted to it practically unconsciously.

Artificial intelligence is driven by a massive quantity of data by ever-more powerful computer systems, the cloud, and increasingly sophisticated algorithms. Yet even though AI is becoming more prevalent in our lives, it remains a vague notion to the uninitiated, and many professionals are still reluctant to employ it in their work. In this regard, regulatory bodies owe it to their members to be at the forefront of digital change. In the case of healthcare professionals, for example, they can rapidly obtain the information they need to establish a diagnosis or make complicated judgments in various domains owing to artificial intelligence. Similarly, in this time of pandemic, the management of vaccines and their distribution is much more critical and we would not be where we are now if it weren't for artificial intelligence.

Let's take a look at how artificial intelligence may serve regulatory bodies to enhance its implementation and usage.

What is artificial intelligence (AI)?

To begin with, artificial intelligence's objective is to emulate human intellect in order to complete tasks or analyze data. AI is made up of algorithms that were built particularly for a certain sector or activity. As a result, artificial intelligence may create computer programs that execute tasks similar to those performed by the human mind, such as learning and logic.

AI learns habits that make it capable of anticipating and fixing issues before they arise. Simple AI, for example, may fulfill specified tasks in the same way that virtual assistants do. In addition, AI may become more advanced and find answers to problems that have not been encountered yet, by increasing its cognitive ability.

Most of our daily lives are actually aided by artificial intelligence. Consider the spam you identify and forward to your correct folder or the browsing app you use to prevent traffic bottlenecks. Perhaps you do not even realize the extent of artificial intelligence's involvement. For example, it is owing to AI that you are directed to the correct service in the selected language when you choose French or English, or the correct department based on the reason for your call when you contact the bank.

Artificial intelligence and regulatory body management

A regulatory body may quickly and effortlessly handle subscriptions of its members, renewals, billing, complaints, website, ongoing training, public information, etc., thanks to artificial intelligence. All professional information, required studies, ethics and investigations, committees, and events are also updated and made available to the users. The use of artificial intelligence knows no limits.

Artificial intelligence can address the laborious work of sorting emails or sending out acknowledgements, updating customer data or corporate information, all in the context of performing a profession. You can therefore spend more time performing your actual work, allowing artificial intelligence to perform administrative and repetitive duties.

The goal of a regulatory body is to protect and empower the public through governing and monitoring the activity of its members. Members often have queries regarding topics like occupational protection in their firm or practice. Of course, in those cases, AI should not be regarded as an alternative for people, but as a chance for people to focus on the skills that cannot replace artificial intelligence.

Any kind of company or industry may benefit from artificial intelligence regardless of their size and quantity of data they manage. You will immediately enhance your strength and potential by liberating your employees from low-value added activities. By integrating data, AI and human knowledge you are sure to improve your company model. This technological advancement already serves several industries, and sooner or later, will encompass more and more areas.

The use of artificial intelligence

All organizations may profit from the addition of artificial intelligence platforms, regardless of their area or sector of competence. If you want to stay competitive and functional, you will inevitably have to implement AI as part of your operations. Machine translation, virtual helpers, SIRI, Alexa, Google Home, and other programs that answer our queries, banking chatbots, even dating sites, AI plays an important role in every aspect of our lives. Delegating repetitive tasks to artificial intelligence allows us to invest more energy into our human experiences.

Naturally, the next stage in the growth of the digital world is artificial intelligence. Consequently, professionals must adapt their business methods to this trend. Many industries currently benefit from artificial intelligence, particularly these ones:

Industrial: predictive maintenance programs that detect equipment failure possibilities.

Agricultural: sensors mounted on machinery or in the field collect analytical data which enables farmers to make the optimal decisions.

Banking: AI is already being utilized in banks and financial organizations to detect potential fraud, optimize consumer product ranges and even recognize where clients can become overly indebted.

Medical: artificial intelligence has transformed the medical sector by giving healthcare practitioners earlier diagnoses that are faster and more accurate. This has led to a much earlier treatment for illnesses and an improvement in chances of recovery.

Pharmaceutical: owing to AI, the management of medicine stockpiles is made more easier.

These are only a few instances of the areas revolutionized by AI. There are many more, as limitless access to artificial intelligence paves the way to an abundance of yet untapped data.

To ensure the success of your digital transformation

Already present, artificial intelligence will become increasingly more prevalent in our lives. Don't let the technology pass you by, start your digital transformation immediately. Gestisoft possesses the required knowledge for a successful digital transformation when it comes to artificial intelligence and its application in the professional environment. We provide automation instruments that are specifically designed to serve a regulatory body.

The world is changing quickly and this development needs to be followed without fault if you don't want to be left behind. This change includes all sectors of professions. Artificial intelligence must, however, be combined with human knowledge in order to operate properly. That is why, from installation to training, Gestisoft is supporting you throughout every step of your digital transformation.

Contact us to learn more about our solutions that will help you evolve!

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July 30, 2021 by Frédéric Charest VP of Marketing

Data-driven Growth Marketer with a Passion for SEO - Driving Results through Analytics and Optimization