The Top Benefits of Using AI in Your Business
From daily operations to continued business growth using AI in your business is a winning proposition.
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You know about cloud computing, right?
Chances are, you already use cloud applications throughout your business. However, the latest offering from the cloud is artificial intelligence or AI. This is a rapidly developing and evolving technology that provides huge opportunities for businesses of all sizes.
From improving your website’s shopping experience to using AI in marketing, keep reading to learn about how this technology can improve and transform your business.
Improve Your Customers Personalized Shopping Experiences
Providing your customers with personalized marketing can help increase engagement and generate customer loyalty. It can also help to improve sales. This is one of the top reasons that so many companies put such a large amount of effort into it.
When you implement AI, you can find patterns in your customer’s browsing habits and their purchasing behavior. Thanks to its ability to tap into the millions of stored and analyzed transactions in the cloud, with AI, you can learn how to create customized offers to each customer who visits your site. With this, their experience is improved, and your likelihood of a conversion grows.
Automate Customer Interactions
Some interactions with your customers, such as telephone calls, social media conversations, online chat, and emails, will always require a certain level of human involvement. However, AI can help you automate some of these communications.
AI can be used to analyze the data that is collected from prior communications. It is also possible to program a computer to provide accurate responses to customers and handle any questions. When AI and machine learning are combined, the AI platforms will begin to learn and grow, which makes their abilities even more accurate.
An example of this is with AI chatbots. With these, unlike with humans, it is possible to interact with unlimited customers, all at the same time. Not only can the chatbots respond to questions, but they can also initiate communication. This is true, regardless of if they are being used on an app or website.
By the end of 2020, approximately 85% of customer interactions were being handled by AI machines that were designed to replicate human responses and functions.
Real-Time Help and Assistance
AI can also be beneficial for businesses that must communicate with large numbers of customers during the day. For example, in the train, airline, and bus industries, there may be millions of passengers coming through every day. When this happens, AI can be used to interact with these people, all at the same time, in real-time.
It is possible to send updated personalized information about their travel plans with AI, including when delays occur. Some bus companies can track the buses’ location in operation with AI, which provides travelers with accurate and real-time information about where the bus is on the route and when it will arrive at their location. It is possible to access this information through the bus company’s app.
Data Mining
A huge advantage of using cloud-based AI is that the apps can discover information and utilize relevant findings while processing big data. This is something that will provide businesses with insights they may not have had access to in the past. This can also provide a significant advantage in the marketplace.
Operational Automation
With AI, you have something that can operate other types of technology, which will help improve automation in business. One example would be using AI to control the robots used in warehouses or factories or maintain perfect temperatures thanks to intelligent heating.
An example of this can be seen in Japan. There are currently human-looking robots serving as receptionists in some of the hotels around the country. These help to automate check-ins, booking needs and can even handle customer inquiries in different languages.
In the retail space, AI has been linked to cloud technology and RFID for accurate inventory tracking. AI is being used in China to find and arrest criminals. Thanks to the huge CCTV network present and AI can use facial recognition to find suspects and track them to make apprehending them faster.
Predicting Outcomes
AI can be used for predicting outcomes based on data analysis. For example, it can capture customer data patterns that will show if the products are on sale or sell and how much of them will sell. It can be used to predict when the demand is going to end or curb, as well. This can be beneficial when a company wants to ensure they have the right products on-hand and enough of them (along with avoiding ordering too many). It has been predicted that within a decade, the days related to seasonal sales will be a thing of the past because AI will ensure that no stock has to be sold on clearance because there is no leftover due to accurate estimates and trend-tracking capabilities.
The ability that AI has to predict is not just something that benefits the retail industry. AI can be used in several other areas, too. For example, it can be used in banking to predict stock and currency fluctuations. It may be applied in healthcare to predict infection outbreaks by looking at information posted on social media.
Improving the Recruitment Process
While this may not be great news for recruitment agencies, AI can now help businesses automate the process of recruiting new workers. With AI, it is possible to quickly and efficiently look through applications and reject the ones that do not meet the specifications and requirements the company has set. With this type of technology in place, it is possible to save time and money. It will also help ensure there is no bias or discrimination during the shortlisting process. With AI, it can also handle the administrative tasks that are involved with recruiting new workers.
AI for Your Business: It’s a Smart Investment
As you can see from the information above, AI systems will provide your business with a huge selection of benefits. This includes personalized marketing, recruitment, inventory management, operational automation, customer service, and more. These are just a few of the countless ways that AI is used today. You will likely find more unique ways to use this technology to benefit your business as time passes.
Something that is truly remarkable is that some of the AI apps used today, which are designed exclusively for use with a cloud-based system, are fast and easy to deploy and begin using.
If your business operates in the cloud, you will find that AI is a technology that you need and one that you will eventually rely on thanks to all it can do. Being informed will help you make the right decision regarding the use of AI in your business.
