Can we use AI (Artificial Intelligence) to build better businesses?

Can we use AI (Artificial Intelligence) to build better businesses?

We use AI (Artificial Intelligence) without thinking twice in our day to day activities.

Every time we use the personal assistant Siri on our Apple iPhones or Google AI on android phones, we are using AI.

Today, AI has come to define a great part of technology we use – and make use of, for various functions.

Currently, Facebook and Google are continuing their endeavors to tap into greater AI resources to handle various functions – to the extent that Elon Musk, the visionary founder of Tesla and PayPal, has even warned that highly developed AI could in fact, be dangerous on multiple fronts.

So, back to basics.

Can we make use of AI to develop our businesses – and if so how?

Let’s look at a few tips.

AI can help us obtain better customer insights –

We travel on an internet crawling with bots and ruled by algorithms, hell bent on gathering consumer data in real time.

Noticed how if you look up a particular subject on Google, you will be inundated with ads for that very product?

That’s Artificial Intelligence in action – gathering information so that the consumers can be treated to a better understanding of what is needed.

So yes, in a nutshell, artificial intelligence is a great way for us to build our businesses on obtaining customer insights.

When they want something, what time they want it and how they want it will tell us more about meeting their needs.

Chatbots who manage conversations with customers, have been a great boon to customer service enhancement. The bots of today can pick up language nuances and help greatly with speech impaired customers, making customer interactions much better.

Of course, many customers still prefer human contact but this could change.

AI can help detect fraud easily –

Bots are trained to spot fraudulent gestures which makes activations such as on line transactions and other business activities easy and safe.

AI is a great tool that can be leveraged to manage transactions better and safer, enabling the system to monitor and identify unusual and fraudulent gestures.

As the future of technology breaks upon us slowly but surely, understanding the role AI plays in utilizing safety an security solutions can be a great boost for business.

AI can personalize marketing and supply chain management –

There are several systems in place today that Artificial Intelligence can manage efficiently and effectively – personalized customer preferences that can easily be identified in marketing initiatives is one such area. The bots know which customer prefers which from analyzing data on previous or preferred transactions scores. This enables the bot to give the customer his or her required service or product virtually seamlessly.

Bots can also manage supply chain systems, delivering on demand products without hassle.

However, AI is already accused go eating into jobs held by humans – but faster lead times and efficient management has resulted in more and more companies seeking to employ AI in their ventures.

Managing data –

Artificial intelligence can help us manage vast swaths of data in a way that makes sense. No human being can manage the kind data that is exchanged on the internet. Bots who crawl the internet are able to manage such a demand for data in seconds, resulting in greater and more efficient management of data for all kinds of purposes.

Helping employees to perform better –

Many experts on AI believe that ultimately, the best way forward is for man and machine to work together in achieving tasks easily and efficiently.

Already, Artificial Intelligence is helping employees to perform better, enabling them to make better decisions and deliver a better service to their customers.

Got a story for us? Get in touch with us.