Artificial Intelligence is impacting business on a global scale, but a lot of people are left wondering how it actually benefits businesses? Artificial Intelligence, or AI, is commonly known as a type of computer software that can engage in learning, planning and problem-solving. Using an abundance of information and machine learning, AI are able to learn and identify patterns in streams of inputs. If you are still wondering, here’s how technologies like AI can affect your business.
AI provides data solutions
Whereas AI is more efficient than the human brain when analyzing troves of data, it is still unable to handle some common sense tasks still seen in the workplace. When humans work together with AI, they can better predict potential reactions to business decisions and thus streamline the decision-making process. With AI, businesses can significantly expand their range of automated or aided processes than ever before, saving both time and money in the long run.
AI allows for more personalization
The use of AI in a marketing strategy allows for quick automated solutions to personalizing content for prospective and returning customers. AI can be leveraged to collect analytic data and create target audiences at an expedited rate or even map an effective journey through a website. This, in turn, allows marketers more time to focus on prospective improvements or to create new ways to connect with these prospective customers. Similar applications can be found across industries, including construction and civil engineering.
AI allows for better customer service optimization
Since the deployment of AI in customer service chatbots, its impact has continued to grow. One such trend in this use-case is predictive reply recommendations that allow representatives to better handle incoming issues and complaints. Through this technology, AI can enable companies to reach their customers in more ways than ever before!
As mentioned above, there are extensive uses for artificial intelligence in most business practices. The most important factor in determining whether you should incorporate AI in your business is solidifying a business need first, and then developing a strategy that makes it clear how an AI-powered tool can help solve it. Moving forward with a strong understanding and concrete plan can lead to unseen successes and ROI with minimal incremental investment.
Some other useful resources in making the decision about going AI are listed below.
- Harvard Extension School: Business Applications for Artificial Intelligence
- Business News Daily: How Artificial Intelligence Will Transform Business
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