How Artificial Intelligence Transforms
Businesses for the Better
Humans are creatures of habit; thus, if confronted with the dilemma of making a change versus staying put, the latter almost always wins. But for today’s businesses, staying put means staying behind. And trust me, if you’re staying behind, you might as well roll over and give up.
So, as a business owner or manager, how do you keep up with the ever-changing trend? The answer is Artificial Intelligence. How could AI help your business turn the corner and keep pace with the competition?
The Significance of Artificial Intelligence
Artificial Intelligence is essential because it enables you to do business in an uncomplicated manner. Do you think there is more critical to a business than a technology that can unlock revenue growth? You’d be hard-pressed to find any.
AI has an extensive implementation in the business sector with even more room to grow. For instance: Because of AI, companies can now harmonize the tremendous amount of unstructured data through information extraction. Since most of the information on the web is unstructured in nature, information extraction through Artificial Intelligence has become an invaluable asset. If you would like to read some more content about AI in very simple terms, you may check a recent article written by an expert software entrepreneur Steve Shwartz here.
Using AI also speeds up repetitive tasks with a high level of precision and efficiency. Examples of these tasks are creating invoices or sending out emails to prospective customers. This significantly reduces man-made errors in these processes, resulting in an almost error-free operation.
Ways on How AI Can Innovate Your Business
1. Predictive Marketing
Acquiring data is not a problem in most businesses. The challenge is to make that data coherent so you can do something about it. An application of Artificial Intelligence called machine learning could interpret all these data and offers a forecast on who’s the most likely to buy a product. Not only that, but it can also offer insight into what the competition is up to.
Unfortunately for us, we can’t surface perceptiveness into all of these data, at least not consistently and at scale. In using AI to sift through all of these data, it can recognize patterns where humans often cannot. That wisdom and understanding gives you an edge over the competition and can only be carried out because of Artificial Intelligence.
2. Sentiment Analysis
Well, the best applications of AI are the ones that can predict behavioral patterns, and sentiment analysis is no different. Sentiment analysis is a science that tries to predict or determine whether a phrase or words used is constructive, unfavorable, or neutral. This process helps data analysts discern customer experiences.
So, how can sentiment analysis help your business? It’s pretty easy. AI assists customer support, people, by using sentiment analysis. (For this reason, sentiment analysis is also referred to as “emotion AI.”)
AI can effectively determine through sentimental analysis if customers are angry, frustrated, or just chilling. With that information gathered by AI, the customer support people can now categorize the tasks based on the customer’s sentiment and can therefore handle queries adequately.
3. Cyberthreat Detection
The big dogs such as Google are already using AI to hold the email security fort down. In fact, the AI technology that they use is capable of blocking 100 million of these unsolicited emails daily.
Similarly, you may also employ AI in protecting your business’ IT framework. It is capable of taking over mundane tasks that are prone to human error and negligence. Moreover, AI can also detect behavior and can determine whether a visitor is a customer or not. In this way, cyber crimes and threats will be prevented before it even happens. Prioritizing cybersecurity using the latest AI technology is exactly the type of progress that gains trust points with customers.
Whether they like it or not, the only way for the players in the business sector to secure a competitive advantage is to implement Artificial Intelligence. Such AI applications as Predictive Marketing, Sentiment Analysis, and advanced cybersecurity solutions are powerful tools that allow you to make sense of a colossal amount of data, predict customer experiences, and prevent cyber threats in real-time before they even happen. Wouldn’t that be music to your ears?