- February 11, 2019
- Posted by: suma
- Category: Bot Development, Chatbot Development
Have you ever thought about how fast your business can grow if every interaction with technology were intelligent?
Can you imagine what your business can actually achieve with this intelligent interaction with the technology?
Artificial intelligence will transform the relationship between people and technology, charging our creativity and skills. The future of AI promises a new era of disruption and productivity. Where human ingenuity is enhanced by speed and precision. Through AI your business can interact intelligently with the technology.
Artificial intelligence (AI) is an area of computer science that emphasizes the creation of intelligent machines that work and react like humans. It has become an essential part of the technology industry. Some of the activities computers with artificial intelligence are designed for include-
- Ability to manipulate and move objects
- Speech recognition
Many businesses take up artificial intelligence (AI) technology to try to reduce operational costs, increase efficiency, grow revenue and improve customer experience.
For greatest benefits, businesses should look at putting the full range of smart technologies – including machine learning, natural language processing and more – into their processes and products. However, even businesses that are new to AI can reap major rewards.
By deploying the right AI technology, your business may gain an ability to:
- make faster business decisions based on outputs from cognitive technologies.
- avoid mistakes and ‘human error’, provided that smart systems are set up properly.
- use insight to predict customer preferences and offer them a better, personalised experience.
- save time and money by automating routine processes and tasks.
- increase productivity and operational efficiencies.
- increase revenue by identifying and maximising sales opportunities.
- grow expertise by enabling analysis and offering intelligent advice and support
- mine vast amount of data to generate quality leads and grow your customer base.
- achieve cost savings, by optimising your business, your workforce or your products.
The rapid development of technology offers significant development opportunities that many companies have already been quick to seize upon. Here we would tell you the ways your company can benefit from cloud-based AI.
1. Real-time Assistance
Artificial Intelligence (AI) fantastically useful for businesses that need to constantly communicate with high volumes of customers throughout each day. For instance, in the transport industry, bus, train and airlines companies, which can have millions of passengers a day. They can use AI to interact, in real-time, to send personalised travel information. Some bus companies, for example, are already tracking the location of their buses and using AI to provide travelers with real-time updates about where the bus is along its route and its estimated time of arrival. This is how artificial intelligence can help in acting as real-time assistance in your business.
2. Automating customer interactions
Currently, we require human involvement in most of the customer interactions, such as emails, online chat, social media conversations, and telephone calls, currently require. And here AI, however, is enabling companies to automate these communications. By analysing data collected from previous communications it is possible to program computers to respond accurately to customers and deal with their inquiries. When AI is combined with machine learning, the more the AI platforms interact, the better they become.
For example, AI Chatbots which are completely unlike humans. But can interact with unlimited customers at the same time and can both respond and initiate communication – whether on a website or an app.
It is estimated, that by 2020, 85 percent of all customer interactions will be taken care of by intelligent machines that are able to replicate human functions.
3. Data mining
As Cloud-based AI apps are so advanced, one of the biggest advantages of using it is that artificial intelligence apps are able to quickly discover important and relevant findings during the processing of big data. This can provide businesses with previously undiscovered insights that can help give it an advantage in the marketplace.
4. Operational automation
AI can be used to control robots in factories or maintain ideal temperatures through intelligent heating. Thus, AI is able to operate other technologies that increase automation in business. In Japan, human-looking robots now serve as receptionists in some of the countries’ hotels automating check-ins, booking services and dealing (in four languages) with customer inquiries. In retail, AI is also being linked with RFID and cloud technology to track inventory. In China, police forces use AI to catch criminals. The country has a vast CCTV network and AI uses facial recognition to spot and track suspects so that they can be apprehended. These are a few drastic and wonderful advantages of AI.
5. Predicting outcomes
Yes, AI can predict. This is another advantage of AI that it is able to predict outcomes based on data analysis. For an instance, it sees patterns in customer data that can show whether the products currently on sale are likely to sell and in what volumes. It will also predict when the demand will fall off. This can be very useful in helping a company purchase the correct stock and in the correct volumes. It is predicted that, within 10 years, the days of seasonal sales will be over as AI will mean there is too little leftover stock to sell off.
Apart from predicting in retails. AI is also being used in many other areas, for example, in banking where it can predict currency and stock price fluctuations or in healthcare where, remarkably, it can predict outbreaks of infections by analysing social media posts.
Does your business Interact Intelligently with Technology?
Now you’ve seen how AI systems provide businesses with a wide range of benefits, including data mining, customer service, operational automation, automating customer interactions and real-time assistance. And these are just a few of the many ways AI can be useful for your business.