In the movies and on television, artificial intelligence (Al) is typically depicted as something sinister that will upend our way of life. When it comes to Al in business, we often hear about it in relation to automation and the impending loss of jobs, but in what ways is Al changing companies and the larger economy that don't involve doom-and-gloom mass unemployment predictions?

A recent survey of manufacturing and service industries from Tata Consultancy Services found that companies currently use Al more often in computer-to-computer activities than in automating human activities. Here are a few ways Al is aiding companies without replacing employees:

Better hiring practices

Companies are using artificial intelligence to remove some of the unconscious bias from hiring decisions. “ There are experiments that show that, naturally, the results of interviews are much more biased than what Al does," says Pedro Domingos, author of The Master Algorithm: How the Quest for the Ultimate Learning Machine Will Remake OurWorld and a computer science professor at the University of Washington. In addition.“ (41) 【E】AI looks at résumés in greater numbers than humans would be able to, and selects the more promising candidates. ” One company that's doing this is called Blendoor. It uses analytics to help identify where there may be bias in the hiring process.

More effective marketing

Some Al software can analyze and optimize marketing email subject lines to increase open rates. One company in the UK, Phrasee, claims their software can outperform humans by up to 10 percent when it comes to email open rates. This can mean millions more in revenue. (42) 【B】There are also companies like Acquisio, which analyzes advertising performance across multiple channels like Adwords, Bing and social media and makes adjustments or suggestions about where advertising funds will yield best results. These are “tools that help people use data, not a replacement for people,” says Patrick H. Winston, a professor of artificial intelligence and computer science at MIT.

Saving customers money

Energy companies can use Al to help customers reduce their electricity bills, saving them money while helping the environment. Companies can also optimize their own energy use and cut down on the cost of electricity. Insurance companies, meanwhile, can base their premiums on Al models that more accurately assess risk. Domingos says, “ (43) 【G】Before, they might not insure the ones who felt like a high risk or charge them too much, or they would charge them too little and then it would cost the company money. ”

Improved accuracy

“Machine learning often provides a more reliable form of statistics, which makes data more valuable,” says Winston. It“helps people make smarter decisions.” (44) 【D】One accounting firm, EY, uses an AI system that helps review contracts during an audit. This process, along with employees reviewing the contracts, is faster and more accurate.

Protecting and maintaining infrastructure

A number of companies, particularly in energy and transportation, use Al image processing technology to inspect infrastructure and prevent equipment failure or leaks before they happen. “ If they fail first and then you fix them, it's very expensive,” says Domingos. “ (45) 【F】You want to predict if something needs attention now and point to where it's useful for employees to go to. ”