Artificial Intelligence is shining brightly in the software industry with its capabilities. Companies are capitalizing on artificial intelligence as it continues to scale and evolve. Over the past few years, we have heard a lot of success stories regarding artificial intelligence. Right from the Amazon operational efficiencies to GE keeping its equipment running, artificial intelligence has been excelling.
In today's world, not only large corporations but also small-scale industries are also emerging in number. Artificial Intelligence has various tools which can help small and mid-sized industries to improve their productivity and efficiency.
5 Ways Artificial Intelligence Can Help Your Business
- Help from voice-search assistant – A Voice search assistant can help you anytime and anywhere. The most well-known voice search assistant is Siri which comes on IOS computers and devices. There are also other voice-search assistants like Google’s assistant and Bixby, which is coming newly on Samsung devices. By using artificial intelligence, the voice search assistants can help in providing them with the information they need. AI can also be used as a tool to help take the load off a human. Popular solutions are Google, Microsoft, Amazon, and Dialogflow.
- Determining market-fit – To understand consumer segmentation, artificial intelligence can be used as a tool to determine the product-market fit. This can be done by tapping the power of machine learning to understand segmentation of a consumer. Any business organization can use artificial intelligence to analyze and gather market analytics more swiftly. By using artificial intelligence, organizations can shine in advertising both traditional and online targets. Artificial Intelligence gives any business insight into targeting their base of customers. One provider that focuses on customer segmentation using AI is Lexer.
- Generation of employee development engagement – Not all businesses will have the capability to hire an HR person. Such businesses can use artificial intelligence to monitor employee’s engagement and development needs. Artificial Intelligence also gathers the feedbacks of an employee’s performance. Every employee's concern and his/her feedbacks can also be shared using artificial intelligence tools. It is the job of the start-up founder’s and the business owner's, to inject positive vibes into the workplace so that they can assure that their team members can understand the feedbacks and concerns. An example is AmplifAI Solutions.
- Improving customer service – To improve customer support and customer services of a business organization, artificial intelligence can help in assisting the employees. Artificial Intelligence can be used in sorting customers travel tickets, answering their question online etc. These artificial intelligence tools can also help small sized businesses to deliver services in a more efficient manner. With the usage of AI tools, there will be an increase in customer satisfaction and engagement.
- Usage of a ready-made solution – Artificial Intelligence tools can automate and streamline many problems and daily tasks in office spaces with lots of dedication. AI tools perform various functions like communication management for giving business reports. Artificial Intelligence based platforms allow customers to have control over commercial lease spaces. Salesforce Einstein, IBM Watson Studio, Google Cloud AI, Azure Machine Learning Studio, and AWS Machine Learning tools lead the industry.
All the above artificial intelligence tools enable businesses to compete. One of the most performed tasks using AI is the management of day to day communication, gathering data analytics, meeting scheduling and many more. With the help of artificial intelligence, small and medium-sized businesses are improving their efficiencies and responsiveness in the software market… able to compete with very large organizations.
There are different ways in which you can improve your business standards by using artificial intelligence, including:
- Make your sales soar by marketing: Artificial Intelligence-based tools can help your business in day to day market customizing, consumer-sale information, problem-solving etc. AI applications dig deep into the requests made by a customer so as to deliver better and accurate solutions. AI can also be used in suggesting your customers with additional items, by analyzing the products which they using or have used. You can search for ways in which your prices can be optimized and understand your competition. AI applications help in prioritizing your customers and works for good supply management.
- Simplify supply chain management:AI applications can help businesses to manage their inventory very well. This is the best way to optimize supply chains and to automate refills. Artificial Intelligence applications will help you to automate your order management and fulfill your business processes.
- Improving application security and maintenance:AI can help your business improve its maintenance schedules, mainly in the transportation and manufacturing sectors. For example, the airline industry uses artificial intelligence technology for conducting maintenance checking. The wear and tear of mechanical parts in the airline industry can be traced using AI applications. These applications can help you create maintenance schedules for better optimization. This ultimately avoids in-wanted delay is information delivery and analysis.
- Prevention of cybercrimes:Business organizations waste a lot of time trying to trace fraud transactions. Since there are patterns present in artificial intelligence, the tools can be used for detecting cybersecurity threats. By using AI tools, there can be a decrease in the number of a false alarm that we receive as they are not rules based applications.
- Using self-driven technologies:There are a lot of businesses which need to transport products in bulk. Such businesses depend on artificial intelligence systems. AI systems can be used for transportation because they will help them lower the costs and prove to be more reliable than vehicles driven by humans. The transportation charges can also be saved by using artificial intelligence systems.
- Hire the best candidates: Finding the best candidates and hire them for your business, is a very time taking the task. This is the reason why artificial intelligence is having the capability to face recognition. By using AI applications, the recruiters can conduct interviews based on a set of emotional cues which are previously determined. In doing so, it will help your business streamline its recruitment process.
- Making good business decisions:Any data is useless if it is not properly analyzed. For receiving a desired output, you need to learn from the data which is available. You can totally rely on artificial intelligence applications to make your job much easy. AI can find patterns and these patterns can be used in improving network and storage technologies of your business.
So, these are ways to improve your business standards using artificial intelligence applications and tools. By doing so, your business will optimize for better profits and achieve a good position in the market.