In today’s world, we all are surrounded by AI. From music and video streaming, assistants such as Amazon’s Alexa, travel & navigation to the internet forecasting what we may like to buy next, there is mainly used of AI everywhere. Not only this but also self-driving cars are also an example of an AI application.
Artificial intelligence is already used in many ways. However, you need to know how it is influencing businesses on a daily basis.
- One can get a wide range of uses from artificial intelligence in business. Whether it is a matter of aggregating business data or streamlining job processes, there is some use of artificial intelligence everywhere.
- Researchers are not 100% sure what artificial intelligence means for the business and what the future holds with this technology, especially in blue-collar jobs.
Make sure this article is suitable for employees who are looking to understand the use of artificial intelligence and business owners who are planning to transform their business operations with AI.
You may also interact with AI regularly but don’t realize what it is. Many people relate AI (Artificial Intelligence) with science fiction dystopias, but AI is now more advanced and has become more mainstream in our daily lives. Today, artificial intelligence is becoming a familiar name; in some cases, it has become a household presence like (Hello, Alexa!).
The current uses of AI (Artificial Intelligence) for business include:
- Cross-referencing, data transferring, and file updates
- Fraud detection
- Product suggestions and predicting consumer behavior
- Customer service using a chatbot or telephone
- Marketing and advertising messages that are customized for each person
Some of the most standard uses of artificial intelligence are cybersecurity, customer relationship management, personal assistants, and internet searches.
Cybersecurity
Artificial intelligence is an essential ally for finding gaps in computer network defenses. It can also identify cyberattacks and various cyber threats by detecting patterns from data input.
After its detection of a threat, it can search your data for the source and assists you in avoiding future threats. Additionally, AI can also serve as an advantage in maintaining your infrastructure.
Important Note: You can fix such issues from cybersecurity experts due to growing complexity. For this, one can consider artificial intelligence because it can help prioritize threats, detect zero-day malware, and automate cleanup.
Machine Learning
Machine learning is frequently used in systems that collect a large amount of data. The use of smart energy management systems is to gather data from sensors attached to different assets.
The best part is that machine learning algorithms interpret the massive amounts of data and provide it to the company for decision making so that they can better utilize the energy and fulfill their maintenance requirements.
Customer Relationship Management
Customer relationship management (CRM) systems are changing with AI. Software systems like Zoho and Salesforce require a lot of human involvement to be relevant and accurate.
When applying AI to these platforms, a standard CRM system becomes an auto-correcting and self-updating system to manage your relationships.
Digital Personal Assistants
The goal of AI is not just to give your customers a more customized experience; it can also easily change how your company runs from the inside. The bots of AI can be utilized as personal assistants to maintain your calendar, manage your emails, and even give suggestions for streamlining your processes.
These AI assistants can also be programmed to respond to those queries that your clients ask during chat or call online. These small tasks require AI to save time and allow you to focus on other strategies needed to implement to grow your business.
Internet & Data Research
Artificial Intelligence aims to identify patterns in people’s search behaviors with the help of using a vast amount of data and providing them with more accurate information based on their circumstances.
You may know that AI technology has become more advanced, and people use these types of devices more. As a result, we can say that users can get a more customizable experience. This is the actual value of AI for your small business, and you can easy to target a specific audience.
Now, there is no need for the user to spend time typing in queries on Google search box. Instead of this, one can find the right information at the right time because AI has shifted the paradigm for data research and the internet.
How Does AI Help Address Industry-Specific Needs?
Here are some examples that will let you know How AI helps address industry-specific needs and how AI has become an important part of our business.
Importance of AI for Business
Transportation
AI is allowing the development of self-driving cars for a better navigation experience. It can also be used for transportation logistics and helps manage smarter traffic operations.
Financial Services
The financial services use machine learning and AI for fraud detection, analysis of real-time and historical data, and data security. It can also be used for various niche applications, such as trading decisions, loan approvals, and wealth management.
Healthcare
Artificial intelligence and machine learning solutions are being used in the healthcare business to analyze massive troves of data generated in previous decades to reveal insights and patterns that individuals can’t find on their own.
For example, in diagnostic tools, algorithms assist clinics in making more accurate diagnoses earlier in the evolution of a disease. Other intelligent tools can help obtain more personalized treatment plans for each patient and focus on maximum efficiency.
Industrial Maintenance
Industrial sectors use AI for the predictive maintenance of machines. The development of AI can identify the time that is needed to provide service to the equipment, and it helps optimize the scheduling process of maintenance work. AI is also applied in factories to boost productivity.
AI for Targeted Marketing
Online retailers, online search providers, and other internet entities leverage intelligent systems to understand customers and their buying patterns to target advertisements for specific products that they want to generate revenue.
Some companies combine intelligent technologies today, including geospatial software and facial recognition with analytics to first identify their customers.
After that, these intelligent technologies help promote the products, including concentrating on sales that are designed to meet their personalized preferences.
Why Should Companies Leverage AI?
In the 21st century, business processes are specified by a high level of complexity due to the involvement of inefficient and stressful tasks which humans experience when carrying out the operations. Moreover, data helps control businesses. Also, companies can gather valuable insights based on the strategies that are suitable for driving growth from data.
Hence, there is no need to say why artificial intelligence for business matters. Well, the need of modern businesses is to uniquely understand the preferences and needs of customers so that they can stay on top of the competition.
Using AI in business, you can engage with your customers, improve productivity, automate many business processes, and increase business revenue while minimizing operational expenses.
Wrapping Up
Artificial intelligence has got promising and very bright future across India. It can also be the ultimate version of goals due to the ability to provide ultimate searches on Search Engines. It would give you the right thing and understand exactly what you want.
Furthermore, it has the capability to add 15% or $957 billion of the present gross value to the Indian economy by 2035. Some of the services that AI companies provide are Natural Language Processing, Computer Vision, Anomaly Detection, Customer Analytics, Machine Learning Operations, Machine Learning Data Engineering, Recommender Systems, Predictive Analytics, and more.
Leading organizations already have the benefits of AI and data to launch new business models, products, and services. They are also becoming more agile, optimizing processes, finding efficiencies, and reducing costs. Now, it’s your turn.
At Impinge Solutions, we have a proven track record and experience in delivering tangible business outcomes at scale, across sectors and industries worldwide. Our experts use the right approach and trusted insights and convert them into your transformational journey. Also, we can build the solutions that are right for your business and implement them with the right operations and continuous deployment to enhance their positive impact.