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TRENDSETTERS Who are Arizona’s

Manufacturers of the Year?

WAYS artificial intelligence is changing the workplace

Artificial Intelligence (AI) is becoming more prevalent in all parts of our daily lives. From our everyday digital assistants, such as Siri and Alexa, and our Facebook feed using AI to deliver the most relevant posts, to cars that use AI to aid with safety and even Netflix using AI to provide lists of the movies and shows we might be most interested in viewing. One area where AI is having a rapidly increasing presence is in the workplace. Here are five ways AI is changing the workplace, according to AppZen: • THE HIRING PROCESS: New AI tools allow companies to better analyze prospective employees’ previous experience, credentials and background, so that hiring managers and HR teams are presented with the best possible matches for job openings. • REDUCING FINANCIAL FRAUD AND ERRORS: Apps deliver tools for organizations to use AI to audit 100 percent of a company’s spending, reduce travel and entertainment cost fraud, double-check that invoices match the contract terms, catch double payments and audit payments before they go out. • COMMUNICATION: Recently introduced AI tools are enabling employees to ask for what they might need over email, the web, Slack, etc. and have the systems immediately respond with an appropriate response. The availability of this type of AI-powered tool allows employees — such as those in the IT and accounting departments — to stay focused on their tasks and not spend additional time responding to common requests.

The manufacturing sector contributes $47.3 billion to Arizona’s GDP each year and provides jobs for 179,000 people at more than 5,000 establishments. The Arizona Manufacturers Council honored some of those economic engines at the Manufacturers of the Year awards. These were this year’s award recipients: • Advocate of the Year: David Garafano, executive director, Arizona Manufacturing Extension Partnership • Legislator of the Year: Rep. Joanne Osborne (LD-13) and Rep. Jeff Weninger (LD-17) • Excellence in Innovation: InsulTech • Excellence in Sustainability: SenesTech Inc. • Small Manufacturer of the Year: Interface • Medium Manufacturer of the Year: Cassavant Machining • Large Manufacturer of the Year: Benchmark Electronics

Which Arizona company packs the economic impact of 5 Super Bowls? Raytheon Company makes a $2.6 billion annual economic impact to Arizona, according to a new study conducted by Arizona State University’s Seidman Institute. That’s the equivalent of the economic impact of hosting five Super Bowls. The study shows Raytheon’s annual impact across Arizona has grown by more than $500 million in the last three years. Increased sales, new hiring and additional infrastructure have helped to fuel the increase.

• IMPROVED CYBER SECURITY: Companies such as Blue Hexagon are using AI and “deep learning” to detect threats in less than a second with complete threat categorization, analysis and response, meaning that threats can be removed before they impact the organization. • IMPROVED BUSINESS ANALYTICS: AI can review data and detail important insights, allowing organizations to better track trends, find potential areas of concern and then have comprehensive reports with actionable items.

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AB | November - December 2019

The Joint Strike missile

Profile for AZ Big Media

AZBusiness November/December 2019  

Inside this issue of Az Business magazine, we celebrate Arizona Forward and its 50 years of impact. We look at some of the milestones in the...

AZBusiness November/December 2019  

Inside this issue of Az Business magazine, we celebrate Arizona Forward and its 50 years of impact. We look at some of the milestones in the...