5 Ways Businesses Can Use Artificial Intelligence

For many people artificial intelligence is futuristic science based fiction technology. But in reality AI is already becoming essential part of different tools that we use to enhance our productivity. Therefore, not only large enterprises but small businesses should be thinking about it too otherwise they will be left behind. Experts believe companies that are not embracing artificial intelligence will ultimately suffer.

Artificial intelligence with current advancement can be used by businesses in various ways.

Here are few ideas that will help you to understand how AI based tools can be used in your business.

• Improving Business Processes.

For businesses to become successful, it requires lot of changes, optimization and improvements in operations and processes. This improvement eventually helps business grow and become more efficient. While the process involves different tasks and activities that contributes in achieving business goals and objectives. Artificial Intelligence based tools can help your business in becoming more efficient in achieving your business targets.

In addition to that it can also help in identifying specific patterns and understand current conditions as well as important signals in process. . The ability of AI based tools to collect and mapping of information can make the whole process easy and accurate. In other words AI based tools can make workflow better throughout organization. In addition to that it can be used to monitor productivity and report how well the business processes are working.

• Generating Reports, and Writing News Stories.

Many businesses spend hours in writing reports occasionally. While AI based tools are now emerging that can automate this business function as well. There are now report generating bots available that can be based on predefined segment of data or preferences.  In some cases , these tools can also be used to generate news stories as well . However writing much sophisticated and creative articles and blogs is still not possible nor might it be in near future because it is nearly impossible to replicate human creativity. Good news is businesses will not need to depend on employees for business reports or simple writing tasks.

• Dealing with Unstructured Data

According to IBM most of worldwide data is unstructured. While due to emergence of IoT there will be exponential growth in it making difficult to deal with for all businesses.  This unstructured in large amount has no use for companies as it cannot be understood properly.  While companies require   The AI based tools can help in exploring the potential of unstructured data through improved capability of data analytics. Although unstructured data comes in variety of ways, this all can be analyzed through data analytics tools and techniques that uses AI capabilities.      

• Assisting Customers.

One of the most obvious ways how businesses can make of artificial intelligence based tool is to automate their customer services operations. Virtual assistants like Chabot are increasingly becoming part of many websites and businesses. It not enhances businesses ability to serve increased number of customers but can also reduce sales related costs significantly. You may even see integration of AI based applications in websites or messengers. Starbucks order taking application is one example such tools. You see many sales and customer service operations getting automated in near future as more and more use of AI will become norm. Overall objective that it will help businesses achieve is decreased sales and error free, on time customer service.

• Increasing Sales.

While businesses will automate their business processes that will obviously improve production and customer service capability.  Many experts believe using machine learning based automation, ability to predict sales trends through big data analytics will help businesses grow their sales.  Big data analytics can also help businesses understand consumer behavior and pattern of their purchase that will not only help them to develop more effective marketing strategy but also provide personalized customer service.