Digital technologies have taken over the world, transforming everything for the better. However, there are some that have had the most impact than the others. Machine learning and artificial intelligence are at the forefront of that change.
They are driving both improvement and innovation. AI has become extremely popular and important in recent years. Many believe that it will significantly influence the telecommunications, technology, and media industry in the future.
Many businesses have now started to rely on AI. They are adopting this technology rapidly and using it to automate most of their operations. But that isn’t the only way artificial intelligence is helping companies. Let’s discuss five ways how AI is facilitating businesses.
#1. Helps Deliver Quality Customer Support
Your business is only going to be successful if you are truly there for your customers when they need you. And many companies are aware of this already. Therefore, different providers have their dedicated reps, which you can contact to inquire about anything you like, such as Optimum TV packages.
But how can you deliver excellent customer support online? Well, AI can help you in this regard. You see, because of artificial intelligence, companies can now invest in chatbots that can enhance customer engagement and help drive revenues and collect data.
AI-powered chatbots significantly decrease the need for human involvement and can interact with the customers even during non-working hours or days. Therefore, this eliminates the need for agents and reps. And you will no longer have to invest in customer support equipment.
#2. Boosts Performance
The performance of those applications that operate on AI algorithms like computer vision, object detection, and NPL can perform faster thanks to the AI-powered chip.
This means that the performance of those applications used in different industries like gaming, banking, and healthcare will perform much better. There’s an example of Qualcomm that introduced its AI-enabled Snapdragon 732G, which can make the mobile gaming experience seamless.
#3. Aiding Startups to Get Access to Data
In today’s digital world, data has become the ultimate asset. Many companies are figuring out new ways to extract data. And even though established businesses may do this easily, what about startups? This is where artificial intelligence comes in.
There are various AI-based solutions and systems that can help startup companies mine data. Furthermore, they can also do the analysis of business data which will help them determine how to advertise strategically based on customer insights. This will help the businesses to reach new customers easily.
#4. Preventing Cyber Attacks
As data is becoming easily available, an increase in cyberattacks has been observed. And companies are doing whatever they can to improve their cybersecurity infrastructure. One way they can do that is with the help of artificial intelligence.
But how will it help? Well, AI can bring down the response time to external threats and will also prevent breaches. In addition, it will help to improve the organization’s cybersecurity measures, stopping the cybercriminals in their path before they launch an attack.
#5. Personalization Has Become Possible
Customers love nothing more than to receive a personalized experience. And with the help of AI and other technologies, this is now possible. Businesses can make use of analytics and big data to achieve this feat. How?
Well, they provide necessary insights and information which the companies can capitalize on. There are different artificial intelligence platforms such as Amazon 4-star and b8ta that are creating the kind of personalized offerings that their customers seek.
#6. Predictive Measures
Wouldn’t it be cool if you know how a product is going to perform before launch or know how the customers will react to particular news or announcement?
Well, this is possible now! Yes, you read that right. Both data analytics and AI can create magic when they both work together. It is possible to make predictive models for actions or events before they even happen. And guess what? They are almost accurate! Companies are using the technology for some specific solutions like risk management, market forecasting, and customer research.
There is no question about the insane potential that artificial intelligence has. And with more innovations, its potential is only getting stronger.
It can help out businesses in terms of enhancing productivity and increasing work efficiency, both of which contribute to its overall profitability. AI-powered applications are providing solutions to multiple industries, including eCommerce, IT, healthcare, retail, and banking.