Have you ever thought about the craze hovering around artificial intelligence? No doubt, with its extreme capabilities, it is shining brightly in the software industry. Most importantly, among companies that are involved in manufacturing, transport, services, and the list goes on. It isn’t surprising to see companies capitalizing on the applications of artificial intelligence in making our day to day activities easy.
Over the past few years, there has been an abundance of stories related to the success of artificial intelligence. The uses of artificial intelligence do not stop from making Amazon’s operation’s efficient but even help in enabling GE to keep its equipment running. So, it is without any doubt, artificial intelligence is simply excelling.
Current Scenario Of Artificial Intelligence In Business
In today’s era, not only large organizations but even smaller ones are increasing in numbers. There are various tools in the arsenal of artificial intelligence that can assist small as well as mid-sized industries. Such tools can be pretty handy in improving their efficiency and productivity.
Beginning With Strategies
Just before you get to the practical application of artificial intelligence, keep in mind one thing. Applying artificial intelligence or for the matter any other technology, in your business, you need to act with your overarching business tactics in mind.
There are various situations where many corporates have jumped into artificial intelligence bandwagon and handled artificial intelligence in business related pilot projects and experiments. These have been done without taking into consideration the goals of the organization. So, if the new project isn’t designed in the manner that delivers the required business tactics, then it is simply a waste of the time as well as effort.
Frankly, just before you start thinking of the applications of artificial intelligence into your organization, take a minute and reconsider your strategy at first. Make sure to ask yourself what is that your business is trying to achieve. Also, whether the uses of artificial intelligence can help you to achieve those objectives.
In the first instance, it will simply mean to review your business strategies and find out whether it is still relevant. Here you really must think about if you want to apply artificial intelligence to an outdated strategy. And once you are really happy with the strategy, you must try to find out for ways on how artificial intelligence can boost your business performance. Once that is done, you can feed it to your goals.
Trying To Make Business Operations Smarter
With artificial intelligence, you can get a huge amount of benefits for your business operation. This is often when it is related to automating the business process. As artificial intelligence in business is all about machines or computers learning from the data that is presented to them, doing things as per that, it means that they can take more and more traditional human activities.
One of the best examples can be automated cars. As soon as you order for a pizza, you open the door and see a robot delivering it. Not a human driving a scooter. Already Dominos has started to use the Starship Technology’s automated driving vehicle for delivering pizzas in Hamburg, Germany. Frankly, these automated vehicles are quite efficient in cities, especially where traditional delivery vehicles are expensive and very much inefficient for short distance deliveries.
Assistance From Voice-Search
Think about the advantage of having a voice search assistance. At any time and anywhere you can get assistance. One of the most famous voice search assistance is Siri and this comes on the IOS computer and other devices. Even there are other voice-search assistants like Bixby and Google’s assistant which are coming new in Samsung devices.
With the uses of artificial intelligence, the voice search assistant can help in giving information that is required. In addition, applications of artificial intelligence can be used as a tool to remove the excessive loads from humans.
For having a good understanding of consumer segmentation, you can use artificial intelligence as a tool. This can be used to find out if the product is market-fit. So, how can it be done? Well, this can be done by tapping into the power of the machine learning which can assist in understanding the segmentation of the consumer.
Now any business organization can use artificial intelligence to analyze and gain market analytics faster. Using artificial intelligence in business, it is easy for organizations to shine in ads both for online and traditional targets. Artificial intelligence provides successful insights into business and helps in targeting their customer base.
Soaring Your Sales Through Advanced Marketing
Do you know that artificial intelligence based tools can assist your business? They can play a great part in your day to day marketing and its customization, problem-solving and consumer-sale information, etc. The application of artificial intelligence digs deeper into the request that the customer makes.
So, this helps in delivering accurate and better solutions. Furthermore, applications of artificial intelligence can be used in providing suggestions to your customers. This can be in regard to providing better and correct solutions. Also, artificial intelligence can be used for providing suggestions to customers regarding additional items. This is done by analyzing the products that they have used or currently using.
So, Can Artificial Intelligence In Business Take You Forward?
Right from the industrial revolution, the rise of technology has gone hand in hand with the automation of work. From automated hotel bookings to tractors and high tech robots working in the manufacturing factories, the theme is constant.
Now as far as the uses of artificial intelligence are related, there is a slight difference in the factor of where it works. Somewhat there is a growing trend towards automating routine works. No doubt, applications of artificial intelligence is automating the entire routine processes, just like how industrial era machines automate physical labor.
In short, there is no harm if entrepreneurs, business managers, and decision makers take the assistance of artificial intelligence. It will surely make their business more reachable and user-friendly.
How do businesses use artificial intelligence?
Artificial Intelligence can assist businesses to increase sales, find out fraud activities, improvise customer experiences, automate work processes and give predictive analysis.
What is Machine learning?
Machine learning is an application of artificial intelligence (AI) that provides systems the ability to automatically learn and improve from experience without being explicitly programmed.
Why do we need artificial intelligence?
The entire research goal of artificial intelligence is for developing technology which allows machines and computers to function in an intelligent way. The general problem of simulating intelligence is simply broken down to sub-problems.
Why do companies use artificial intelligence?
Various firms take up artificial intelligence (AI) technology to reduce operational costs, increase efficiency, grow revenue and improve customer experience.
Which companies are working on artificial intelligence?
Following companies are working on AI –
3) NARRATIVE SCIENCE