This article discusses 5 ways Artificial Intelligence can transform businesses and the benefits of AI to businesses in general.
What really is Artificial Intelligence?
Artificial Intelligence basically is the ability of computer programs to learn and master how they are being used by individuals after series of usage and in-turn create better solutions to future difficulties that were unforeseen at the point of manufacturing in a way that it emulates the sort of intelligence present in humans.
What business people need to know about Artificial Intelligence
Artificial Intelligence has raised quite some controversy over the past few years and these arguments are in two phases – some people see it as a concept that will bring about a positive revolution to human work culture by powering computers and machines to help humans work more efficiently. Another group fear that Artificial Intelligence will make human effort irrelevant by taking over most tasks that were originally done by humans.
In my opinion, Artificial Intelligence is no different from the series of technological revolutions that have taken place in the past few decades, we humans only have to accept it and figure out the best way to adapt and improve our lives with the technology.
What Artificial Intelligence can do for businesses.
Ways Artificial Intelligence Can Transform Businesses
Most companies know just how essential customer service is to their as it’s the one thing that shows how much the company cares in their customers time of need, though it’s widely practiced by many businesses and ‘customer service experts, ‘ a lot could go wrong and following a study carried out by some experts, up to 60% of customers have been discovered to quit business with a brand due to a poor customer service experience. People don’t feel comfortable having a dialogue with an’ unintelligent machine’ where they have to press buttons and wait in a queue until they can get the expert help they need. AI-powered chatbots are the answer
Commercial chat platforms like Slack, Skype and Facebook are already open to chatbot integration with it’s messaging system, platforms like chatfuel and botify easily enables you to create and infuse an automated response system with AI capabilities so that customers can interact with the system and get tailored responses and guidance in the absence real-time human contribution.
Cybersecurity is a major concern worldwide, rumoured to be third on a vicious list of worldwide problems following natural disaster and terrorist attacks, the normal practice of keeping up with cybersecurity issues malware and ransomware has been to run patchwork and routinely churn out series of software updates on firewalls and anti-virus programs which on average requires tremendous amount of work into the system eating up lots of resources, manpower and time. In many cases, there’s no prior notice or detection of intrusion until the attack is done sometimes resulting in damage.
It is believed that with the ability of AI systems to learn and understand patterns and visualize data, AI-based security systems can detect intrusions and warn about impending attacks thereby dealing with problems you never thought could occur.
A lot of work can be simplified in marketing by using AI-powered systems, tasks like tracking marketing efforts and measuring outcomes and results. Also, AI-powered marketing will bring about precision in terms of content and Ad delivery by gathering personalized customer data over time and helping to customize content as appropriate to different customer types. Many organizations are already investing tons of money in AI-powered content generating machines to address their content marketing hassles considering the speed that it’ll take churn out original optimized contents, it’s definitely a worthwhile investment.
HR & Recruiting
Artificial Intelligence is revolutionalizing the way organizations carry out recruitment by providing a means of sifting through tons of large data from the credentials of job applicants. Rather than flip through the credentials of many prospects, recruiters can use AI-powered systems to quickly filter through numerous data and select the most suitable prospects based on relevant keywords programmed into the system. Another way Artificial Intelligence helps in the recruitment process is by automating repetitive tasks such as face-to-face interview which can be replaced by recruitment chatbots that’d be programmed with interview questions and the ability to analyze interview results.
Aid Fraud Prevention
Fraud is a major concern in today’s digital world with fraudsters and cyber con-men stepping up their game by utilizing various sophisticated tools and platforms. By on-boarding AI-powered tools and systems, there’s hope for cyber fraud to be curbed to the minimum. With the attributes of AI to handle pattern recognition, voice and video recognition, natural language processing, machine learning engines etc, the possibility to sniff out irregular occurrences that may lead to fraudulent attacks is very feasible if approached the right way.
As you’ve read above, Artificial Intelligence (AI) has some cool benefits in store for businesses that are ready to take a step towards trying it out such as in customer service where businesses can personalize their support and communication with customers in real-time without the presence of a physical human and also get feedback on services rendered, in recruiting where hiring processes and interview questions can be automated and deployed on in order to get the most suitable candidates, it can also help prevent fraudulent attacks on unsuspecting individuals by understanding sensitive patterns and detecting irregularities, in marketing AI helps by measuring marketing efforts and help businesses to know what works and the specific type of content best suited for a personalized audience, Artifical Intelligence (AI) also helps combat cyber-security issues bu visualizing data collected from systems and detecting abnormalities with the tendency of causing damages even before they happen.
Many businesses are already investing heavily in Artificial Intelligence (AI) powered systems to handle their everyday tasks and with learning and automation, and the good thing about AI is the longer it stays, the better it becomes and despite the buzz of if it will accelerate the irrelevance of human effort, this is the best time to on-board the concept of Artificial Intelligence and harness the best of it’s juice before it becomes too complicated, Artificial Intelligence has come to stay and will do more good for the betterment of humanity.