Six Possible Means Businesses Can Profit from Artificial Intelligence

In this article, we will talk about Six Possible Means Businesses Can Profit from Artificial Intelligence since it has become a vital cloud technology in the society – and for good intention. Tag: Benefits of AI.

Just as has been stated above, Artificial intelligence (AI) is currently fastest growing and trending cloud technologies that is being accepted by both new and existing businesses in the US and across the world. As a matter of fact, the AI is a working tool that has been providing valuable applications in several business sectors, by simply collecting raw data and using it to automate processes. In addition, it is also used to personalise capabilities and make immediate decisions and forecasts. Therefore, we’ll use this medium to explain about 6 ways businesses are presently benefiting from Artificial Intelligence.

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Six Possible Means Businesses Can Profit from Artificial Intelligence

These are some of the list of some ways businesses can benefit from Artificial Intelligence

1. Real-time customer assistance
2. Personalised shopping experiences
3. Deep insights
4. Enabling automation
5. Anticipating customer behaviour
6. Making decisions

Explanation of Six Possible Means Businesses Can Profit from Artificial Intelligence

1. Real-time customer assistance

Artificial Intelligence uses networking to interact, in real-time, since there is a huge numbers of clients and buyers coming to patronize you on your website on a daily basis which can be very challenging. That is to say; the AI is currently enables companies to interact with these customers who wants a service of different sorts. It can help to send customers direct communications so that they receive the information and updates they need about a product or service. However, this type of assistance is commonly used by logistics companies for home delivery purposes. Similarly, it is also being used by transportation companies, such as airlines and bus companies for sending information by SMS or emails about departure times, delays and changes to take off schedules.

Personalised shopping experiences

Do you know that when a company offer personalized shopping experience it can help attract new and retain old customers? Companies are trying to do better to make sales, many them are prepared to provide real-time information and data in order to send shopping experiences which are more tailored to customers’ liking.

As can be seen, the Artificial Intelligence is a major strategy for companies wishing to provide personalisation to its customers. This is invariably because, it can identify patterns in customer browsing and purchase behavior in faster ways. Furthermore, it is able to analyze the activities of millions of customer behaviours and their transactions on a daily basis. In addition, it can make sure that a singular customer is given special offers that will be very significant to their current quests.

As has been noted, if a company integrate Artificial Intelligence with CRM, it will help them to make sure that all marketing clues are followed up by tailoring personalised sales communications through the best communication medium and at suitable times.

Deep insights

The combination of Artificial Intelligence and Cloud Technology avails organisations the possibility to analyse heavy amount of data at very deep levels. Going forward, the specific method it does this is via its capability to analyse unstructured data. Looking at it critically, we noticed that, only about 20% of data held by companies is structured and without AI. So, this is the only data that can be analysed. The AI permits so much more of this important data to be leveraged for business intelligence.

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More than this, the AI’s capability to analyse this data for previously unseen configurations means it has the prospective to ascertain unimagined insights that can have significant advantages for business expansion. Equally, the next benefit is that it get this done promptly, while still facilitating the company to bring its idea into the open market faster.

Enabling automation

From observation gotten from our research editors, it has been discovered that one of the major advantage of Artificial Intelligence is that it allows programmed processes to be effected. As the case may be, the most advanced aspect of this is its capability to control robots in production factories. Also, it also has other functions in less automated industries.

In a like manner, Artificial Intelligence can also aid programme everything from the sending/receiving of emails and other communications to systematizing hotel bookings, patient diagnosis in hospitals, customer service and so on. As a matter of fact, numerous websites owners now make use of the Artificial Intelligence “Chatbots” (that appears on sidebars) instead of the conventional genuine people to assist customers with problems. By the same token, it is estimated that over 80% of customer interactions will be taken care of by Artificial Intelligence before the end of the decade. So, it will take over live chats, telephone calls, e-mails and social media messaging etc.

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Indeed, through computerization, Artificial Intelligence can restructure a lot of business processes, thereby reducing the volume of human participation required and get rid of many of the mundane tasks that employees currently have to undertake. (The disadvantage of Artificial Intelligence is that this will definitely cause unemployment).

Anticipating customer behaviour

Online users or customers has different gestures when they visit a website; some simply wants to review a product or service while others really want purchase a product or hire a service. For the most part, Artificial Intelligence helps to determine the motions in customer behaviour and associate these with other data for the advantage of the company. Now, take for instance, it can use data to forecast if a customer/client has a positive or negative insight of the company’s services or its products. In a word, when the company gets this information, it can then take precautionary measures to re-engage the client/customer and support its relationship before the client goes to a competitor.

Making decisions

Decision making is a very vital aspect of a business because it can either propel the company to a greater height or be its downfall. In the light of this, AI does not only assist for collection of data for a new patterns, it can also make good use of the data to make estimates and inform the management on the accurate decisions. In finance there is one very good example; Artificial Intelligence is used for prediction of stocks market rises and falls. Equally, currency values can be predicted by AI, and can also generate models which determine the impact of fiscal decisions.

Similarly, in the health sector, AI is commonly for tracking system health, aiding companies envisage when machines will malfunction or even go dead. This is will help to take precautionary measures can arranged place before disaster occurs.

Marketing is not even left out because AI can help make decisions about the finest customers to focus on and the most profitable offers to give them in business negotiations. After all, when you then add machine learning to the picture, where AI systems study from their former processes, the potential is massive.

Conclusion

As can clearly be seen, the use of AI can benefit businesses in diverse methods, providing intelligence, decision-making capabilities, automating processes and others to mention a few. All things considered, it makes companies more competitive, reduces costs and simplifies workflow while assisting them communicate more efficiently with their clients and customers. Given these points above, note that the searchable terms and tags for this post includes: Artificial intelligence, benefits of artificial intelligence in business, Businesses Can Benefit from Artificial Intelligence.