5 easy ways to apply AI to your business Strategy
Artificial Intelligence is enabling the businesses to function more efficiently and effectively as the technology and society keep advancing, organizations are constantly on the lookout for powerful, sophisticated solutions to improvise the streamline operations. AI is seen as a software that takes its own decisions and able to handle situations that are not foreseen even by programmers.
AI is all around us whether we are aware of it are not AI does have a huge effect on our lives as well as for our businesses. AI can be used to improve the business operations like account management, customer service and more. Did you know that research shows that more than 70% of people use chatbots to solve their problems quickly?
1. AI in Data Analytics: Data Analytics help companies for better understanding for their customers, strategizing their content, for campaigns and developing the products. With help of deep learning businesses could determine meaningful trends from large dataset which in turn saves the time of employees resulting in improving the business efficiency. With ever-increasing information the right use of data and proper analysis is what drives the result and data analytics is the key to changing trends and increase in revenue for your business.
How Starbucks use data analytics to gain better customer base: Members of the Starbucks reward program and mobile app users often use for ordering drinks and to take future orders. At the same time company also makes use of this data to gather information about customers buying patterns and preferences. These information are also used for marketing campaigns future promotional activities and also decide on future updates on menu
2. AI in marketing: AI not only allows marketers to gain customer insights, automating everyday tasks and improving the workflows but also helping to generate the email contents, personalized reports, on-site interactions, and the previous communications helps to determine a defined buyer persona.
Google’s responsive search ads enables the marketers to enter up to 15 headlines and four description lines. By using machine learning tool that determines are the possible combinations that performs the best for any given search query and by optimizing the ad placement and local campaigns.
3. AI in Banking & Finance: In banks Artificial intelligence is used for detecting the fraudulent activities. Very large sample data is given including both fraudulent and non-fraudulent purchases and trained to find whether the transaction is valid based on data. Over time the Software becomes expert in spotting the fraudulent transactions based on what it learned earlier.
State Bank of India Launched SIA, an AI powered chat assistant that addresses customer’s queries instantly and help them with everyday banking related tasks just like a bank representative. AI-based conversational interfaces can ease the customer services and numerous customers’ actions.
AI in Security:
The impact of artificial Intelligence in cyber security is huge. Biometric logins are progressively being utilized to make secure logins by either scanning fingerprints, retinas, or palm prints. This can be done alone or along with a password and is already being used in most new smartphones. Many large companies have been the victims of security breaches which compromised email addresses, personal information, and passwords. A system is more protected when AI is used to maintain the security of the network.
Symantec’s Ai-powered security services offered by Symantec deals with endpoint protection to defense for email and cloud applications. It has an Integrated Cyber Defense (ICD) which is cloud based and allows the integration of a variety of services for cloud, on premise and hybrid infrastructures.
5. AI in performance:
Note that AI can’t altogether substitute the personalized performance feedback by managers. These individuals who work with many employees every day and help them perform their best. The Impact of Human knowledge can be strengthened with the help of AI, which in turn improves the performance of the company.
The Shipping forecast of FedEX:
The Company gathers immense stashes of information on the 16 million packages that navigate its global network every single day, just as its almost 700 planes, 180,000 vehicles, and various warehouses and shipping sites. These data are used by the company to make better decisions and increase the performance and revenue of the company