The applications of Artificial Intelligence (AI) are very diverse. Big players like Apple, Facebook, Google or Samsung are not without reason to spend billions on new AI technologies.
Management consultancy KPMG predicts that by 2025, global AI investments will grow to USD 232 billion from the US $ 12 billion (2018).
However, unlike other countries, German companies are somewhat cautious and skeptical about AI applications. According to a study by the Federal Ministry of Economics, only 5% of German companies use AI, and 3 out of 10 companies expect to use it in the next 10 years (Summer 2018).
Let’s get the mystery out of artificial intelligence. Will AI make your B2B sales more successful?
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We will first understand what AI can and cannot do today. Based on this, we will show you different possibilities of how you can use AI for your B2B Company in the field of sales.
What exactly is behind artificial intelligence?
When you think of "Artificial Intelligence," do you see Arnold Schwarzenegger as a terminator in front of your inner eye as he raises his hand and says, "Come with me if you want to live ...!"
owever, the machine that can think and act independently is still sci-fi. Experts distinguish AI as "strong" and "weak" (between "normal" and "narrow").
Weak artificial intelligence refers to systems that provide solutions to concrete application problems. As a basis for problem-solving, it uses mathematics and computer science, specifically developed for need. The resulting system is improved by its algorithms - in other words, the system learns from existing data.
In contrast, strong (or general) artificial intelligence is what we know from sci-fi movies. The goal of a simple AI company is to achieve or exceed the same intellectual skills as humans. However, so far, this is pure fantasy. Whether such intellectual development is possible is still debated. Experts who are attracted to the notion that simple AI is possible, talk about 20 - 40 years.
All AI systems that exist today fall under the concept of weak AI - a common fact.
Therefore, one can answer the question "what exactly is behind AI": in the form of various algorithms such as mathematics and computer science.
You have previously used AI in your daily life: text recognition, image recognition, speech recognition, automated translation programs, expert systems (eg getting recommendations for action based on a knowledge database), and some examples of navigation systems applications for AI.
How will AI strengthen sales teams?
Sales personnel are often under tremendous pressure. They must meet quotas, take care of their customers, attend conferences, and do dull and laborious tasks such as research and documentation.
AI and machine learning can help with authentic and repetitive tasks. Automation programs are designed to perform time-consuming but simple tasks, such as searching the Internet for specific data or sending personalized e-mails. Using AI to manage time-consuming and low-return tasks allows sales staff to focus more on their strengths - communicating with customers.
Another way to strengthen AI sales is through data analysis programs. Digitalization offers many opportunities for B2B companies to increase sales and efficiency. However, manual structure and analysis of large amounts of data are time-consuming and error-prone tasks. Therefore, most companies use only a fraction of their data and the rest is not used in data archives.
AI-based Predictive Sales Analytics Software calculates price range based on sales forecasts, cross-selling opportunities, customer churn, and current sales data. Sales teams can use this information for targeted and effective action to increase productivity.
Companies that use AI hire employees
One common concern is that AI systems will replace distributed jobs. In this case, a sigh can be healed. A recent study with over 3,000 managers found that companies that already rely on AI could increase their team numbers by 76%.
The results of this study also confirm our view. As software providers for attendee sales analytics, we see AI applications as support for sales teams and not as an alternative.
The Art of Artificial Intelligence in B2B Sales - Summary
Terminator science fiction. Today's AI systems fall under the concept of "weak artificial intelligence". They solve specific tasks significantly more than humans using software and mathematical algorithms.
AI software can learn from existing data and create new resolutions. Only 5% of companies in Germany use this capability. For this reason, our tip: Don’t let the word artificial intelligence stop you. Think about whether such a program can support your processes so you can take advantage of your competitors.
There are many ways to strengthen AI sales. Automation programs, for example, can support your sales team in standard and repetitive tasks. Alternatively, you can use data analysis software to predict which of your customers might be pranks, what pricing options you have, and cross-selling opportunities.
AI-based software effectively supports B2B sales so that marketers can focus on their core business: taking care of their customers.
We, humans, are pretty good at sugar coating, but what if we only built an algorithm or bot brand or company for the purpose of marketing?
It does the most amazing work!In the early 2000s, finding a product would be a nightmare if we searched online stores without knowing the exact name of the product.
But now when we search for an item in any e-commerce store, we get all the results of that item.
Eva can gather knowledge from thousands of sources and provide simple answers in less than 0.4 seconds.Artificial Intelligence Applications - AI in BankingAI in bankingUsing AI to prevent fraud is not a new concept.
This has saved millions of dollars.
Issues such as climate change, population growth, and food security have pushed the industry to seek more innovative approaches to improving crop yields.Early-based agricultural tech called Peat has developed an app called Start-Up Planets, which identifies potential deficiencies and nutrient deficiencies in the soil through images.
Resolving the problem of bias and variation is only about coping with over-fitting and under-fitting.
Bias is minimized, and the variance concerning the complexity of the model is increased.Read Full Article: https://bit.ly/2NsIaF4
Artificial intelligence matches human performance by learning, deriving conclusions on its own, and executing a clearly defined task.
Machine Learning is an artificial intelligence technology that uses data to automatically discover patterns and trends, resulting in deriving more accurate predictions of future events.Many organizations are leveraging ML and AI to advance their product development, sales, and overall customer experience.
Industries like manufacturing, construction, energy etc.
Most companies understand the value of a safety culture and have ideologies about what a hyper-vigilant safety culture looks like — where employees are on high alert of their surroundings, perpetually evaluating risks for the task at hand and taking precautions accordingly.
Algorithms can identify objects, edges, and velocity because of the advancements of Machine Vision.Workplace Safety Solutions through AI Computer Vision:Process and Production Safety - Majority of the workplace facilities have a CCTV system installed on the premises.
Vision-based object detection and tracking use feature such as shape, color, motion etc.
IntroductionArtificial Intelligence and data wisdom are good fields of operations, systems, and further that end at replicating mortal intelligence through machines.
AI represents action-planned feedback of perception.Data Science uses different corridors of this pattern or circle to interrupt specific problems.
Perception, data scientists attempt to identify patterns with the assistance of the info.
planning, there are two aspects Artificial Intelligence Artificial Intelligence (AI) is that the reproduction of human knowledge measures by machines, particularly PC frameworks.
Explicit utilizations of AI contain master frameworks, normal language preparing, discourse acknowledgment, and machine vision.Artificial Intelligence is critical because it can give endeavors experiences into their activities that they could not have known about already and since, now and again, AI can execute assignments better than people.
Especially with regards to dull, thorough assignments like examining enormous quantities of authoritative archives to ensure significant fields are filled in appropriately, AI apparatuses regularly complete positions rapidly and with somewhat a few blunders.Data scienceData science, analytics, and machine learning demand are growing at an astronomical rate and top companies are now trying to find professionals in Data science who can sift through the goldmine of knowledge and help them to require business decisions efficiently.Data science may be a concept wont to tackle big data and includes data cleansing, preparation, and analysis.
The process of data annotation, for speech, image, video, audio, or text, is a highly specialized task that needs expertise.
When we talk about high quality data, it means that the labels are both accurate and consistent.
By outsourcing data annotation services, companies save time and effort freeing up their in-house data scientists to focus on areas they are experienced in instead of annotating data.Here are a few of data annotation techniques used for specific AI initiatives.Audio Transcription for Speech Recognition Audio transcription is used to train speech recognition models.
High-accuracy audio transcription enables interactions to accurately happen between human speech and AI-based models like smart TVs, phones, virtual assistants, watches, computers, or other in-home or on-the-road technology.Human speech must be accurately recognized to understand not only what words are being spoken but also what they mean.
Text annotation detects and labels words depending on a predetermined set of categories required by an AI company.
Text annotation for Natural Language Processing or NLP helps machines predict and understand the human language more easily.
