The artificial intelligence (AI) buzz has grown loud enough to penetrate businesses around the world, and for good reason. With more and more AI success stories like Amazon achieving operational efficiencies using its AI-powered Kiva warehouse robots coming up, investment in AI by businesses is growing by leaps and bounds.
As the cloud platform is evolving rapidly, artificial intelligence is changing the world faster than any technology has ever managed to dot. It is all about data and according to a report of IDC, by 2025 the estimated amount of digital data will be more than 165 Zettabytes. AI solutions can use this enormous amount of data to significantly improve the productivity of your business. Here are some of the possible ways that you can make Artificial Intelligence work for your business:
Don’t just believe the HYPE: Determine what you want to do with artificial intelligence Your business may require a different solution rather than trending and recommended AI applications. To make AI work perfectly and potentially boost your business, you should use the correct way in right time. Understanding the true AI adaptation will help making efficient business management and grow profit than an ordinary industry.
To understand the true potential of Artificial Intelligence here are some of the business applications of AI
Customer Service: Customer service is the most important task for any company or business. People usually don’t like to interact with unintelligent machines and doing the same thing over and over. To boost your business, you can use an intelligent ChatBot that will be more fun and productive.
Business management: Here comes the use of big data using artificial intelligence. You can analyze your customer's information using AI solutions to determine what they like and recommend products and services for them. It will boost your business in no time, thus ensure higher profits.
Security: Security is another reason why business owners are interested in artificial intelligence. In 2017, a survey of Tata Consultancy showed that about 44% company using A.I to detect and deter security intrusions and 41% use for resolving customer’s technical problems. This way, Artificial Intelligence is saving both time and money.
Marketing & Sales: Using AI, you can find the target audience for your business and promote your products/services to them. Take Adext as an example, they are the first and only Audience Management as a Service that applies AI and Machine Learning to digital advertising and finding the best audience for their ad. It automatically manages budgets across 16 different audiences, on 3 platforms (Google AdWords, Facebook, and Instagram), and optimizes them several times a day.
Understanding the capability and capacity: With the AI field recently picking up its pace of innovation, you must understand the capability and capacity of AI solutions before using it. Without knowing the capability, you won’t be able to move towards success with artificial intelligence. As an example, take Google’s acquisition of DeepMind, which uses machine-learning to help the tech giant improv core businesses such as search optimization.
Artificial Intelligence is a powerful gem of modern technology, but not for everything. Understanding and properly using it as a business solution can change your business the way you never thought was possible.Published: Jul 25,2018 07:34:43 AM IST