AI Technology market is on the way to becoming a $100 billion industry by 2025. AI is here to work for you and make your life easier. To stay competitive, companies are turning to new AI software and solutions in their business operations.
As an entrepreneur who has personally benefitted from AI Technology tools without spending thousands of dollars, I believe you must get educated and start reaping the benefits of AI. Doing so will not only mean a competitive advantage for your business but also add substantial value to your business.
Improve The Customer Service
Prompt and efficient customer support strengthens brand loyalty and client satisfaction. Therefore, what could be better than an opportunity to improve customer service while decreasing costs? AI Chatbot, based on recent advances in natural language processing and continuous learning algorithms, can perform better than many human operators.
Companies like DigitalGenius augment the existing customer support communication with an intelligence layer of proposed answers that humans can either approve or edit before sending. These types of augmented intelligence applications allow humans to mitigate the risks of error. They are also gaining adoption across enterprise companies due to their sensitivity to the cost of making mistakes when dealing with customer support.
AI in Food and Health Education
We live in a world where food, mainly processed and packaged food is on the shelves and in the kitchens. We live in a world with a sedentary lifestyle, high amounts of stress, and very little sleep. After a point, it feels like all the forces of societyare trying to demotivate us from staying healthy.
Sometimes all it takes to change our faulty lifestyle is a little nudge, a cheerleader, a buddy, and the right kind of education. We can spend lots of money on fancy workout programs and diet plans — or we can download some of the best health and fitness apps and start our healthy journey at the tap of a button.
Fooducate is an App that helps you to learn about the foods you eat. This app’s barcode scanning feature allows you to check the nutritional value of each food item. It compares two different meals and offers healthier alternatives from its database. Besides, the App also doubles as an intake, calorie, and exercise tracker.
Calorie Counter PRO can scan barcodes for a product’s nutritional information, has the option to input custom foods and recipes, and can track more than 500 different activities. This app has a rich database of 496,000 foods entered, which is updated weekly.
Improve Your Data and Predictive Analytics
Business leaders feel the pressure to make critical marketing, sales, and investment decisions daily. However, getting actionable insights from data using traditional data modeling methods may take weeks. Contemporary AI Technology predictive and business analytics solutions solve this problem via automatic interfaces that allow even non-technical users to get instant models, patterns, and meaningful insights from data. IBM Watson Analytics, based on Watson’s question-answering machine, is one of the most advanced solutions that allow users to receive data-driven responses to questions regarding any aspect of the business, such as sales, finance, human resources, and marketing. Integrating predictive analytics can help managers leverage the full power of big data in business operations.
Quickly detect fraudulent activity
Fraudulent transactions can lead to huge losses for all major businesses. Traditional security methods are useful in protecting networks and communication channels, but what about fraud prevention and unmasking it in the making? Modern anomaly detection algorithms leverage the power of machine learning to learn patterns of fraudulent transactions and behavior. Algorithmic security solutions can help companies discover suspicious transfers between individuals and intercorporate connections to prevent corporate espionage and insider trading.
AI in HR and Recruitment Process
Hiring the right people in the right positions is hard, especially if HR managers are bombarded with thousands of CVs and cover letters. Sometimes, implicit biases can creep into job opening descriptions and the job interviewing process, and qualified candidates might not be successful.
Arthur Kiulian, the author of the book Robot is the Boss, says that automatic data analysis can boost your hiring strategy. It can help you identify the best candidates and thereby decrease human subjectivity and errors in decision-making.
Automate Your Marketing
Artificial Intelligence solutions promise to automate marketing tasks, such as email marketing and lead management. Instead of performing simple and repetitive tasks, marketers can focus on producing creative ideas. AI companies are already offering AI-enabled systems to build marketing campaigns, attract and retain customers more efficiently using predictive analytics, provide sales forecasting, identify potential clients, and predict user behavior. And cloud-based tools can help perform in-depth marketing research based on machine-learning algorithms that build flexible marketing strategies and models of target markets.
The rapid rise of AI Technology is inevitable, and the question now is not whether to adopt AI or not, but how fast managers can do so. At the same time, AI strategists should be thoughtful in the adoption of AI solutions to maintain business processes and pay attention to potential pitfalls with technology.
With so many promising tools at your fingertips, AI is here to make your life easier and more creative.
International Bestselling Author, TEDx Speaker, Growth Hacking Expert, and a Contributor to Forbes and Entrepreneur. Co-Founder & Chief Editor of BusinessVenus.com