The Main Benefits Of Artificial Intelligence For The Future of Business.
AI-based technologies, large amounts of data and machine learning have quickly become an important part of our daily lives. This is no longer the future, but the reality that has come.
While people may have conflicting feelings about AI, it is hard to deny that it opens up huge opportunities for us. This is particularly true in the economic context, an area of interest to both private companies and government agencies.
These are some of the most important specific advantages of artificial intelligence, which can have a huge impact on business and work.
1. Enhance your Personalized Shopping Experience:
Customized marketing for customers Increased engagement helps increase customer loyalty and sales. That’s why the company invested so much effort.
One of the advantages of using ai is the ability to identify customer browsing habits and buying behavior patterns.
Using millions of transactions stored and scanned in the cloud, AI can provide highly accurate budgets to individual customers.
2. Automate Customer Interactions:
Most customer interactions, such as email, live chat, social media conversations, and phone calls, now require manual interaction.
ai, however, allows the company to automate these communications.
An example of this is the AI chatbot, which, unlike humans, can interact with unlimited clients at the same time and can respond and initiate communication, both on a website and in an app.
It is estimated that by 2020, 85% of all customer interactions will be serviced by intelligent machines capable of replicating human functions. The days using the call center seem to be coming to an end.
3. Real-Time Support:
AI is also useful for companies that need to communicate with a large number of customers every day.
For example, in the transport industry, buses, trains, and airlines can have millions of passengers every day, using ai to interact in real-time and send personalized travel information, such as delay notifications.
Customers receive this information in the bus company app.
4. Data Mining:
One of the greatest benefits of using cloud-based AI is the ability of AI applications to quickly discover important and relevant discoveries during big data processing.
This can provide companies with information that has not been previously discovered and help them gain an advantage in the market.
AI is able to operate other technologies that enhance business automation. For example, AI can be used to control a factory robot or to maintain an ideal temperature through intelligent heating.
In Japan, human-looking robots now act as receptionists in hotels in some countries, automated check-in, booking service and customer consultation (in four languages)
In China, the police use AI to arrest criminals. There’s a huge CCTV Network in China. AI uses face recognition to find and track suspects in order to arrest them.
Another advantage of ai is its ability to analyze and predict data-driven results.
For example, you see patterns in customer data that show whether a product currently sold is possible and how much it is sold.
This is useful to help companies buy the right shares and the right amount.
Seasonal sales days are expected to end in 10 years, as this means there is very little inventory left to sell.
This predictive power is useful not only in retail trade. AI is also used in many other areas, for example, banking, which can predict currency fluctuations and stock prices, or in health care, it is worth noting that you can predict an outbreak of infection by analyzing publications in the social networks.
7. Improve the Recruitment Process:
This may be bad news for business hiring, but AI is now helping companies automate hiring new employees. You can quickly filter applications and automatically reject those that do not meet individual company requirements.
Existing AI programs can even handle many administrative recruitment tasks.
AI will expand over the next decade, with virtually all industries transforming their core processes and business models to capitalize on the benefits of AI and machine learning, now the bottleneck is imagination, implementation and business management.
For business leaders, it is a necessity to have a plan to make ai work in the organization. Initial AI projects may be delayed or not delivered, but there is a high risk that companies will not be competitive by ignoring AI.
To know how Kite Agency can help you leverage Artificial Intelligence and Machine Learning in your digital transformation journey