Artificial Intelligence (AI), once a notion confined to Sci-Fi novels, movies and research papers are now making a tremendous impact on society.
Artificial Intelligence is a broad and general term that refers to any type of computer software that engages in human-like activities including learning planning and problem-solving. There are several artificial intelligence applications in consumer and business environments today, ranging from Apple’s Siri to Google’s DeepMind.
Artificial intelligence in the business world, allows businesses to work smartly and efficiently, doing more with a lot less. Companies nowadays are searching for strong, innovative approaches that will enhance and streamline processes as innovation and culture continue to advance.
The current state of Artificial Intelligence:
Artificial Intelligence (AI) is no longer an avant-garde concept today — it is a scientific approach to be planned for, by companies. Several early adopters are going on, switching to types of AI that are usually done by humans to execute or improve tasks. For example, robotic process automation is replacing repetitive tasks such as data entry; natural language processing is being used to generate meaning from human speech; and machine learning is now processing, analyzing, and acting on vast amounts of data.
In a Deloitte survey of 1,500 senior executives in the U.S., 76 percent said AI would change their company over the next three years, and 92 percent said the software was “important” or “extremely important” to their internal business processes. But, the survey also found, challenges abound—the high cost of implementation, the complexity of integrating AI technologies with existing systems, and a shortage of expertise among them.
Business Model Transformation:
As everything is getting connected, businesses now have the opportunity to gather more data, gain the insights they need and innovate. As a result, we are expected to see a much-needed industry evolution: quicker economies, learner activities, healthier companies, rising income, informed customers, and competitive businesses.
AI does not only change the way companies work, but it also radically change the traditional thinking and sense of teamwork, competitiveness, and creativity. While most AI projects generate competitive advantage by perceiving an entirely new opportunity, improving current efforts, offering a market segment that others have missed, and creating new markets, embedded devices that feed a continuous stream of data on usability, use, output, demands, and more to a central location can enable even more interesting competitive transformations.
Business Benefits and Opportunities of Artificial Intelligence in the Business World:
Business models have changed over the years, from the age of production and marketing to the era of partnership and knowledge. The emergence of artificial intelligence (AI) has changed the very nature of innovations, technology, and inventions over the years.
AI capability is already transforming the business across the nation by acting as a Support tool. AI can help businesses increase sales, detect fraud, improve customer experience, automate the work process and provide predictive analysis. We’ll look at some of the ways your company can benefit from Artificial Intelligence:
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Automating Customer Experience:
Automated chat systems allow small businesses to increase their customer service efforts and free up resources needed to interact with more difficult customers.
Using AI for Customer support, a big reduction in average handling time is seen. Moreover, it enhances the overall responsiveness of your customer service team. -
Digital Marketing:
AI can hyper-personalized customer experience by analyzing their profiles. AI speeds up the production of certain types and formats of content. With the help of AI vast quantities of data can be processed and make accurate predictions based on patterns that emerge from it. Moreover, AI can predict customer behavior and identify and nurture the most valuable leads.
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Data Mining:
Cloud-based AI applications are so refined that while analyzing big data they can quickly discover important information and related results. This provides business insights into previously undiscovered data, giving them a major marketplace advantage.
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A study done by FlexJobs and Global Workplace Analytics found that there has been a significant upward pattern in the number of individuals working remotely in the U.S.
During the ongoing COVID-19 Pandemic situation, more and more employees are being forced to work from home.
Moreover, 90% of representatives state that allowing for more flexible work arrangements and schedules would expand worker assurance, while 77% say permitting employees to work remotely may prompt lower working expenses.Remote work enhances productivityOne of the other business advantages of remote work is that it enhances worker productivity, accordingly improving business results.
In a recent poll of millennial workers, 57 percent stated that their most important priority was to find a job that was enjoyable and meaningful to them personally.
Here are a few tips for resources to help you work from home during the COVID-19 crisis.Implement a Work ScheduleWhen working from home, you’ll have a more fluid structure to your day than if you were positioned in a conventional office setting.
You’ll have the option to set your own schedule; in fact, you’ll basically need to Figure out a routine and Plan out your schedule accordingly.Working from home presents an alternate arrangement of difficulties than working in an office.
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With the sheer influx of apps on the market, gaining your target market’s attention and keeping them engaged with your application requires you to understand them, provide them value, and produce a well-executed mobile marketing strategy.
When done right, a mobile app is going to expand your online business, bring in new customers, and always keep your audience engaged.
Create Physical Data-Driven Decisions: geolocation notifications are important for mobile applications that rely on physical location data.
For instance, geolocation notifications can help individuals find nearby stores, find landmarks, or describe important information about the area an individual is in.
They can motivate individuals to perform certain tasks, congratulate individuals when a task is complete, or remind individuals when they’ve reached a milestone or achievement.
Opt Into Sales and Offers: promotional push notifications offer exclusive access to promotional messages like offers, giveaways, and sales.
Mobile application development is a specially developed software app for the usage of small wireless portable devices such as smartphones, smartwatches, and tablets.
It developed for various Oorasuch as Android, iOS, and Windows Mobile.
These days it seems like every business needs a mobile app because it communicates directly with customers through Ads, Promotions, In-app Purchases, and notifications sent to customers about new products, offers, Product Specifications, and features, etc.Mobile app presence covering the smartphone world day by day2.8 million apps are available in the Google Play Store.Average 2 hours o user spends on apps every dayMobile users use 9 to 10 apps daily on averageMobile users use 30 apps over a month.Why your business needs a mobile appKey for any growth of the business is mobile app presenceSmall business owners get definite and positive results after launching their oppUsers like to receive offers, coupons and new product notifications from an appThe average US users spend more than 2 hours daily on the mobile deviceHalf of the users make purchase decisions through apps.Mobile App serves Your business with a Great ExperienceCreating a better customer experienceCultivating customer loyaltyBuilding Brand recognitionConnected with customers all the timeImproving customer engagementDirect Marketing Channel creatorReasons why every business owner needs a mobile app for their businessBusiness Exposure & Increase VisibilitymobirlCustomers Loyalty.A Viable Marketing ToolGrowth of Sales.Customer Service.Build Brand Awareness.Increases Accessibility to Customers.A Source of Valuable Data and Analytics.To know why a business needs mobile apps…Click hereIf you have any query feel free to contact us
Some of the techniques are 1) Adaptive learning (analyze your performance on mock-standardized tests to figure out where your weak points are and then customize the lessons accordingly), 2) Learning analytics (Create interactive textbooks that can track students’ progress & Teachers can be able to assign certain problems as homework and then find out where individual students struggled.
Check on Taking technology to hinterlands: Transforming education for more details.
