6 Ways To Use Artificial Intelligence In Your Business

6 Ways To Use Artificial Intelligence In Your Business Artificial intelligence is not only the future - it is now! Learn how your business can use this game-changing technology.

Artificial Intelligence (AI) has long been seen as a vicious entity, dead to exterminate humanity, or at least, to keep its members out of commission.

However, artificial intelligence is far from it, which brings us to the question: What is AI?

According to Tecopedia, Artificial Intelligence is “an area of computer science that emphasizes the creation of intelligent machines that act and respond as humans. Some operations on computers with artificial intelligence include speech recognition, learning, planning, and problem solving. In other words, the features you normally associate with humans, not computers.

According to a recent PWC survey of more than 1,000 American business executives, 20% of companies will adopt Artificial Intelligence (AI) in their entire company in 2019. If you're wondering how artificial intelligence can affect your strategy, here are six ways to redefine your business.

1. Optimize customer support with the chatbot Did you know that the chatbot market will reach 25 1.25 billion by 2025, with a compound annual growth rate (CAGR) of 24.3%.

Chatbots are an interactive Artificial Intelligence (AI) tool that can reflect real exchange (or chat) with the user in natural language through websites and applications. By using chatbots, devices can understand and respond to human input through speech or writing.

Chatbots help you solve customer problems quickly, which means you can provide excellent customer service. And because they are machines, they can talk to your customers at any odd hour, forever ending the era of digits.

These bots are excellent data collection agents for your customer support team.

They can act as virtual assistants, find customer data for your support representatives so that they have a detailed history of each account.

Artificial Intelligence Chatbots Consider the scenario where you want to convert cold leads into hot leads. By setting chatbots in your main funnels, the chatbot can ask them yes / no questions about why they visit your site whenever a visitor is interacting with your website. Based on their answers, you can consider different ways to send them promo codes or redirect them to a specific landing page to attract them.

With so much flexibility, it's no wonder that 80% of marketers will start using Chatbot in some form or another by 2020, according to an Oracle survey.

When used judiciously, chatbots can help you reduce costs and improve profits, but they can also change the way you do business.

2. Image, facial and object recognition

Artificial Intelligence has also reinvented optical character recognition technology, which can take the place of significant administrative operations.

Artificial Intelligence (AI) is now sophisticated enough to detect faces and objects, which can have enormous consequences for many business applications.

Facial recognition can be used to separate individuals for security purposes, while object detection is used to separate and analyze photos.

All in all, the future of facial recognition looks very bright. The global market for facial recognition is expected to reach $ 7.76 billion by 2022. The use of this technology in online marketing is expected to contribute to a large part of this number.

3. Smart IoT products

One way that the potential of artificial intelligence has enormous advantage for companies in various industries is in the creation of intelligent IoT products.

Gartner estimates that the number of interconnected goods in use will reach 14.2 billion in 2019, up to 25 billion by 2021. Today, the business world is changing with the development of IoT in various ways.

IoT has completely revolutionized the concept of data management. In addition to providing greater access to user data, these devices track and record how users interact with them, which makes devices smarter. As the research on IoT technology grows more and more with each passing day, businesses are leveraging it to understand the data they receive from IoT widgets for growth and growth.

4. Providing personalized experiences

According to Deloitte, 36% of customers are interested in buying customized services or products, while 48% of them are willing to wait longer for it. One of the main functions of AI is the ability to assess and absorb large amounts of information. AI algorithms use millions of data points, such as demographics, past conversion, purchase orientation, and on-site interactions to create distinctive user identities.

5. Social Media Marketing powered by Artificial Intelligence (AI)

The predicted impact of AI on social media marketing is huge. In a Salesforce study conducted in 2017, marketing leaders expect to see better efficiency and better personalization over the next five years. Likewise, more than 60 percent of marketers plan to use AI to build dynamic websites and landing pages, and take on programmatic advertising.

However, one of the things that people are most excited about is the potential impact of AI on social media marketing and lead-raising. From now on, AI will continue to evolve and become a powerful tool for social media marketing.

6. Modernize the recruitment process

One way that Artificial Intelligence can greatly impact business operations is in the field of payroll and human resources. These two are the most important components of any business, but they are often overlooked by smaller companies that do not have a full-time HR department.

AI can step in here and act as a lifesaver for such organizations. It can do many things, such as providing more information to decision makers, automating downstream operations, and monitoring how candidates use their skills.