Artificial Intelligence, or AI, is one of the most state-of-the-artists currently being utilized by businesses in all industries. However, for someone who is not an IT or AI pro the benefits of this advanced tech is not necessarily obvious. In this article, we will examine some of the top ways businesses are benefiting from AI tech and how to ensure you are making the most of AI in your business.
Gaining insight through data analysis
More and more businesses are using cognitive insights provided by AI technology. Using machine learning processes, AI can provide a number of interesting insights including:
Predicting particular customers are likely to buy for improved lead targeting.
Automatic and personalized targeting of digital ads, emails and other types of online communications.
Automatically ranking, categorizing and separating customer databases based on their likeness to buy different products, receive communications through certain channels and numerous other marketing purposes.
Identify credit fraud in real-time.
Unfortunately, with customer intelligence info like the first two insights in that list will require companies a while to gather enough data to ensure these insights are accurate. To combat this time lag, many businesses choose to invest in AI training data which uses existing data relating to your industry to speed up this process.
Automating business processes
AI can be used to automate standard processes across your organization, improving efficiency and giving everyone more time to concentrate on other tasks through process automation or robot program automation (RPA). These processes can be anything, from employee performance tracking or automating internal and external emails to processes expense receipts in the finance department. Speak with your IT team to decide which processes can be easily improved by a little investment in process automation programming.
Engaging customers and employees
AI like natural language processing and machine learning is used to improve tools like intelligent agents and chatbots, on mobile apps and websites, in many modern businesses. This means that they can offer 4/7 customer service with little effort that tackles a range of issues, from password resets and requests to technical difficulties, all in a first-rate imitation of the languages used by the customer. Other ways these techniques are used to improve customer and employee engagement include internal systems for answering employee questions on topics like the business’s IT, HR policy and employee benefits schemes.
As you can see there are plenty of uses of AI that can improve any business and are already been utilized by many. But, this article only scratches the surface of what’s possible with AI and many of the most important uses of AI are industry-specific. In fact, this technology is currently working magic for industries like healthcare, manufacturing and automation; in fields like disease analysis, health and safety, and waste and efficiency. With a little bit of research, you will soon realize what AI could do to help your specific business and industry hit its targets.