In the past couple of years, the world of internet and technology has been evolving. There have been significant changes that are going to revolutionize the business world forever and for better. We have been using machines that are programmed to follow human instructions (well-known fact). Now, the enhancement has reached a point, wherein algorithms are developed which can analyse data and act smarter.This is an era of artificial intelligence (AI), the latest, simple definition for AI is that it is a collaboration of machine learning and deep learning (deep learning, is a fresh breakthrough). Many of us, either have heard of the term or have read some articles on what AI is, and how it is bound to change the world. Though, we are yet to figure out how this can be applied to our daily lives or our businesses for better sales. The fact is that many of the big giants, including Google, Facebook, and the e-commerce sites such as, Amazon and Alibaba, and others have already started implementing AI for their business.
Citing a simple example for your understandability, on Amazon, say, you have made a purchase, the next time you return for making another purchase, you can see some recommendations on the basis of your previous purchase or browsing history on the site which most of the time helps you, may be even surprise you, ever wondered how this happens.
This is AI.
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Now you know that AI is not robotics or the one you relate it to from all those sci-fi movies that you watch.
Experts assume that by the year 2020, AI will handle all the business functionalities, including answering emails, social media interactions, phone calls and even chats, without any possible human interference.
How Can We Implement AI To Change The Face Of Your Business?
1. Building a sales-process model that actually works
AI integration into CRM: this is one of the most sophisticated methodologies for improvising your sales-process model. How does this work? Imagine that you want to draft a sales message and ensure that it reaches only the interested customers (or target audience), then by integrating AI into CRM, you are ensuring that all the right people will read your message.
This could help you with multitasking, such as answering customer queries, identifying what they are expecting from your business solutions and customizing a perfect solution, ultimately resulting in improved sales.
2. Customizing personalized customer experiences
There is always information that gets stored in the cyberspace captured during the previous interactions and this is what AI is utilizing here. The actionable sales insights provide the AI with an idea of the customer behavior through their user journey. This is what is applied to create intelligent customer engagements, wherein the customers will experience a personalized process flow, which also helps in building trust.
Intuitive intelligence is applied to creating personalized messages to engage customers with your business.
3. Potential customers can’t be missed out
There are moments when a user wanders or browses across specific components or areas of your website, for example, if it is an e-commerce website, it can be a product. But, never made a purchase.
They never returned. So, there could be something that went wrong or the customer forgot about it.
This dwell time will be used whenever the customer happens to visit the next time and the process will be simplified such that this time the consumer will never leave without making a decision in favor of your business sales.
4. Automation: As companies are showing proximity to artificial intelligence, hence they are outsourcing their work to the machines which are automated fully. As a result, this became a threat to the unskilled workers or blue-coloured job people because they will lose their job. Since the AI will replace them, the company will be benefited as a lot of money can be saved which the company can utilize in hiring some skilled and adroit persons in the missing areas.
Though the AI is beneficial in many cases, when the businesses move on to the next level of efficiency and complexity, then how the machines will make certain decisions under these circumstances? People need to decide which algorithms should be used to solve this issue. Undoubtedly, this is a big concern that you need to think and because of this issue, you can’t blindly trust AI. In order to reconcile this issue, the Defense Advanced Research Projects Agency (DARPA) has introduced a new type of artificial intelligence algorithm that can handle any situation and can draw the conclusions.
5.Cloud computing: The companies are already familiar with cloud technology and how this technology helps the companies in storing data. But now the biggest dream is that how AI will improve cloud technology? IBM, one of the prodigious cloud companies hopes that the fusion of AI and cloud computing will be innovative and this new trend will certainly accentuate the growth. The cloud will provide AIs with the information which they need to learn and acquire, while on the other hand, AI will deliver information that can give a cloud more data. This symbiotic relationship can emphasize the growth and development of AI, and instigates the cloud companies like IBM to delve into AI research.
6. Deep learning: Deep learning is basically a part of the broader family of machine learning methods which is generally based on learning representations of data. It is true that deep learning has empowered many practical applications of Machine Learning and expands the growth of AI in many fields. Deep Learning breaks down tasks in such ways which can easily accomplish by all kinds of machines. Automatic cars (driverless cars), better preventive health care, even better movie recommendations, everything can be done with deep learning. Even with the help of deep learning, AI may penetrate to the science fiction state that you can’t image a few years before.
7. Data monsters: Now, instead of making simple and facile machines which can only act as checkers, the companies are giving priority to building intelligent machines or supercomputers which have a proper data on it to learn. Hence, more and more companies are opting for data harvesting and are developing better algorithms which can run easily on the new machines. But most of the time, these machines need a human assistance like giving input etc. So, it can be concluded that the humans won’t be extirpated utterly with the rise of AI. It would be very interesting to be a part of such smart and an intelligent machine that can make a drastic impact on the society.
8. AI chatbot: The artificial intelligence chatbot is basically a virtual help desk that supports the concerned company in providing the answers to their customers’ queries immediately. This system is available for 24X7 which means the customers can chat with them anytime and from any location in the world and get instantaneous replies from them. With these chatbots, the customers no need to wait for a live support person to answer their calls or queries. It has been also found that human beings often need a break or they might have other works and thus, sometimes the customers have to wait to get the answer to a particular question. Many times, the customers get annoyed or may lose the patients and if this goes on, then the company will lose its valuable customers and moreover, it will also tarnish their brand image. In this fast-paced world, no one has enough time to wait for a response, but with the availability of such kind of support, the customers will prefer to visit the website again and again. Hence, the companies are adopting these chatbots which will appease the customers by giving a prompt reply to their query or question.
As AI is emerging day by day, so we can now use it to another extent also.
These are some of the rewards of AI and their implementation can help businesses achieve their objectives is what makes it demanding and popular.
Are you ready to embrace the change?
The future of AI is very bright and scintillating as the scientists and the technical experts are inventing latest and advanced technologies day by day. The tech gurus have also indicated that 2018 could be the year when AI will try to establish its ubiquitous presence in everywhere and will continue to thrive day by day.
If you need help with any kinds of AI implementation, software-driven services, or even the most modern cloud, Big data analytics, we can help. Contact us today for further details.
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