10 Ways Businesses Are Applying AI (Artificial Intelligence)

Artificial Intelligence business
  • February 28, 2018
  • Vishnu

AI or Artificial Intelligence is widely used everywhere these days. With machine learning and AI proliferating further, it is imperative for businesses to utilize this technology to have an edge in the market.

Be it having a virtual assistant like Alexa or Siri to simplify the tasks, using analytics to enhance the sales insights or identifying the right talent using recruiting tool. Based on AI, several businesses have already begun to incorporate it in all their business processes.

When equipped with Artificial Intelligence, even small businesses can grow up as a data-driven company to offer full-fledged services.

1. Improve Sales Performance

Businesses can now sell complex products like huge ticket products, cars or financial services easily, as they need not rely on their sales team to keep track of all their products on sale.

With the help of AI, businesses can focus on Sales Enablement, as this technology can note down the points during the sales meeting, generate memos that would be helpful for the sales team to sell the best products to the targeted consumers at the best time.

With a well-integrated RM, businesses are equipped with full customer data that would offer them an insight to make better sales decisions in a timely fashion. Right now, AI helps in making the perfect decisions, such as, which aspects to focus on and which offers would work, to promote the sales volume.

2. Convert Huge Data Into Easy To Understand Narratives

Businesses often have a tough time while handling big data, as it needs them to avail the services of expert data analysts. This is the reason for preferring to use AI-based systems that can interpret the data in languages like French, Spanish, etc. and convert it to any of their preferred languages.  The AI solutions offered by these advanced systems will also help the businesses get automated data analysis. With Artificial Intelligence, enterprises can change the unstructured data into useful, actionable insights.

3. Achieve Business Insights through Cloud Databases

The information found in substantial cloud databases will be useless until it is processed and extracted to identify its patterns. Businesses apply Artificial Intelligence for mining the information that is hidden within such datasets by processing the precious data points efficiently and quickly. Also, AI can adapt and learn the changes in the business environment, as it is not static.

4. To Create Better Stories Using Algorithms

Robo-journalism is a popular term used across the business verticals in the recent years, but developing stories with the help of data requires advanced systems that can go beyond the conventional ones in creating clear and simple stories. Even though such traditional methods were capable of explaining the factual events, they fail to elaborate the logical reasons behind the conclusion.

Also, they cannot summarize large volume of data as well as contextual information. These days, businesses aim at data monetization tools backed by Artificial Intelligence to get content automatically and cut down the expenses on hiring human resources to get the task done.

5. Enhances Personalized Customer Experience

AI has revolutionized the field of e-commerce in numerous ways. This technology finds the clusters and patterns of the buying behaviour of the customers. AI also analyses several transactions that take place every day to send specific offers based on consumers’ preferences to target potential buyers and offer them an excellent personalized experience. Businesses also integrate CRM with AI to generate sales messages and offer customized solutions to widen their customer base.

6. For Improvising Consumer Communications With Chat-Based Solutions

Many businesses have realized the benefits of using AI-powered Chatbots to develop business solutions that are chat-based to improve communication with customers. AI can facilitate online chat with the interactions that are bot-driven to promote workflow automation.

7. To Get Automated Data Analytics

The present dashboards are very complex making it tough for businesses to know what the data indicates and draw conclusions based on it. To address the issue, businesses rely on Artificial Intelligence to make well-informed decisions that would be beneficial in the long run. This advanced technology is now helping several companies, as it offers an in-depth data analysis report that would explain what the data shows, by drawing insights and identifying the action items with the help of data set.

8. Lower Mundane Tasks and Improve Efficiency

The Artificial Intelligence systems handle the routine tasks that are repetitive to aim more at the tasks which would enhance the business value. Mid-sized and small businesses with limited resources consider AI as the game changer, as it helps in automation of CRM’s logging notes and routing new queries.

9. For Anticipating Business Outcomes

The AI systems have the prowess to capture the signals that are usually missed by the sales force who are on the lookout for any correlation between the customer data. When the customer support tool that is AI-integrated predicts consumer view using their current interaction, businesses utilize this data for building a healthy customer relationship.

If the customers don’t have a favorable opinion about business then, the AI system takes the necessary proactive measures immediately for changing their perceptions, instead of waiting for them to express their dissatisfaction about a product. So, AI plays a vital role in anticipating outcomes for enabling the businesses to realize, which matters should be focused.

10. Provide Assistance In Real-Time

It is not a tedious task for firms in Aviation segment to maintain their interaction with their customers these days while keeping up with logistics, as they are fully equipped with AI. Interacting with millions of customers in real-time across the globe is not possible by using just social media platforms. Businesses now make use of Chatbots and Intelligent Systems for offering real-time updates on the changes in flight schedules, and to stay in touch with their customers.

There is no doubt that AI has a vital role to play in different applications of various business verticals, as it cuts down the costs while increasing the productivity.

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