We live in an age of disruption. Industries are getting transformed. Small companies are slowly capturing market share and establishing their brand. The word monopoly in business is slowing fading and anyone with the right strategies and innovative products can enjoy revenue share.
While Artificial Intelligence is still an unclear buzzword in tech for many, there is no denying that the recent AI and machine learning is heavily dependent on the huge amount of data that is out there in the online world. There are many predictions made by experts about the future of data analytics and how it is going to shape AI and machine learning in coming years.
Importance of AI
Companies and organizations will implement AI applications as a way to become more diverse. Businesses will be powered with the ability to analyze their company data across multiple functionalities. This includes fraud detection and high-class customer relationship management along with many other processes. This will help them to obtain a competitive advantage.
Artificial Intelligence is currently finding solutions to complex business problems in a more human-like fashion. This resembles adopting characteristics from human intelligence and implementing them as algorithms in a tech friendly way. AI is the most trending technological term in business world today.
How AI is Changing Corporate America
Market and Customer Insights - A lot of your customers are on social media and most of the business is taking place online. Meet them where they are at. Artificial intelligence can be used to understand important measures of how they are using their social communications & better understand your clients & correspond with them.
Virtual Assistance - Chatbots and virtual assistance can play a significant role in how customers are interacting your company. We strongly believe that in next decade virtual assistants could become a core part of our lives and more companies are going to use this to take their customer service to the next level.
Process Automation - Various automation tools are being innovated and developed, which make business processes agile. The first ever automation tools were home appliances and later industrial robots were invented. In the present day, advanced robots are working alongside humans almost everywhere we go.
Data Unlocking - Think of legal spying. Another area having huge potential to make your business a global leader is to understand consumer conversations. Businesses have started unlocking data with the help of artificial intelligence.
Efficient Sales Process - NO MORE COLD CALLS EVER. Sales techniques and approaches have moved far from doing cold calling and sending long emails. Consumers are influenced by so many other types of media, from TV commercials to social media platform. Even snapchat has become a marketing tool as well as video marketing.
Personalized Customer Experience - Artificial intelligence allows business owners to provide a more personalized experience to their customers. AI can analyse vast data way more efficiently. It can quickly identify patterns in the information such as past buying history, buying preferences, credit scores and other common threads. Millions of transactions can be analyzed daily to provide personalized services to each customer.
"We are already witnessing a business phase where enormous technology-driven change is helping us to address a number of challenges in achieving optimum growth. AI technology, has extremely strong developmental implications. And big data analytics is playing a major role in making AI more enterprise ready.
While the priority must be to build infrastructure, next generation telecoms, power, healthcare systems, agriculture and education systems with AI can be applied in a number of ways. AI is set to be a fundamental predictive enabler helping start-ups to solve large-scale problems positioning them to gain a competitive edge".