Artificial intelligence (AI) also called machine intelligence is an impressive tool that allows machines to sense, learn, comprehend, and act to augment human activities. In recent years AI has revolutionized the way people do business.
Companies like Amazon, Apple, Facebook, Google, IBM, Microsoft are continuously investing in AI research to enhance their business activities soon. AI is expected to be a disruptive technology for entire industries in the next five years.
10 ways AI how AI can benefit your business in the near future
- Intelligent Marketing: AI-assisted customer relationship management systems (CRM) will help give improved insights from customer data. AI chatbots will also improve the chat-based business solution for customer engagement.
- Human Resource Management: AI will also help in streamlining human resource activities. With AI-assisted screening, remote exams, and interviews, selecting the right fit will be a smooth process in a shortened time.
- Unstructured Data Analysis: 80% of the data is unstructured and can be used to draw valuable business insights. This technology can help analyze and interpret this data and gain actionable intelligence.
- Minimizing Mundane Tasks: AI systems will be used to take care of repetitive and routine tasks. Tasks like new queries, adding notes in CRM will be automated so that employees can work on bringing in new business.
- Personalized experience in E-Commerce: Phone calls, chats, emails, and social media engagement will be effectively handled by automated systems. Analyzing millions of transactions every day will help in focusing offers on a single customer, providing a personalized experience.
- Automation in Business: Working with robots in factories to automated hotel bookings will recolonize the way business is done. It will quickly automate several routine business processes.
- Assistance in Aviation: Intelligent systems and Chatbots will be used to connect with customers for conveying flight information, and resolving queries. This will help airlines to keep up logistics and customer interaction.
- Banking and Finance: AI technologies will be used to make financial decisions on several issues like credit-scoring, transaction, wealth and risk management, fraud detection.
- Assistance in Manufacturing: With robots in factories, machine intelligence will help manufacturers in detecting potential production errors. This will help lower operational costs, improve efficiency, and reduce time to market.
- Healthcare: AI will help in the research and development of different drugs and diseases. Robotic surgeries, virtual nursing assistants, and patient monitoring will be conducted using this technology.
The next decade will see an increase in the adoption of this technology. It will increasingly be used to eliminate tedious day-to-day business tasks. Effectively integrating intelligent systems with machine intelligence will help streamline operations and increase growth opportunities.