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How Businesses Are Evolving using Artificial Intelligence

Artificial Intelligence (AI) is about finding patterns in a massive amount of data. AI is thus extremely beneficial for organizations dealing with big data, as it automates and improves analytical tasks on such immense data.

Artificial intelligence is not a vision of the future, in fact, organizations are investing billions to build AI applications. Robotics, intelligent search, business intelligence systems, and translators are few domains that are reducing cost, increasing revenues, and enhancing productivity with the help of AI embedded applications.

From travel information to financial assistance, AI is helping to improve customer satisfaction. With our lives becoming data-intensive, how can an organization adapt AI and make good use of the same?

1. Understanding data in the form of Natural Language

Not every stakeholder is a data analyst, hence, there should be some sort of method by which complex data could be transformed into understandable language. Businesses, with the help of AI, could transform their systems, so that they speak data in comprehensible language.

2. Turning Algorithms into Descriptive Stories

Robo-Journalism came into existence in the past few years, but they were not good enough to explain how a conclusion was reached. This year is the smart one, where there are more advanced robo-journalism systems like Smart NLG report. Organizations can use these systems to not only reach a conclusion based on aggregated data but also to get a rational explanation for proposed inference.

3. Providing Smart Coach to Customers

Businesses are having hard-hitting competition and are striving to deliver the best customer service for better customer satisfaction and engaging customers. Amidst the world of data, information, and an assortment of products/services, smart machines powered by AI are becoming customer’s personal service representatives. They have programmed in accordance with business best practices and respond to customers by transforming data to high-level personalized service. In addition, to reach out to customers, amongst the various marketing strategies available, using mass email service has proved to be beneficial in promoting the reach of the business.

4. Providing Understandable Analytical Results

As more and more data is being collected every day, dashboards are becoming complex to understand. To comprehend and analyze such kind of data, analysts are being hired every day, but research from McKinsey shows a shortage of 1.5 million analysts. To bridge this gap, AI comes into the picture with its Smart NLG technology which can draw insights and action items from the intricate data sets.

5. In-Store Experience, Online

Businesses get tough customers online when it comes to selling complex products like financial services or automobiles. This is the reason why the offline conversion of these products is more and people feel comfortable in an In-Store experience. AI comes to rescue in this case; software like Yseop Smart Machine can imitate the in-store experience and deploy it online, giving customers the same experience and service.

Artificial Intelligence for organizations has magnificent potential. If forecasts come true, AI will be a multi-billion dollar market with an improved bottom line and a lesser number of employees.