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Here are ten ways to use artificial intelligence to improve business processes
Here are ten ways to use artificial intelligence to improve business processes
While artificial intelligence is rapidly making its way into people’s lives, many people are not even aware of the touchpoints it could have an impact on.
In daily life, people come into contact with artificial intelligence when they ask Alexa or Siri to perform simple tasks, or respond to ads that automatically pop up.
But it’s not just a matter of public imagination. Artificial intelligence has also caught the attention of businesses of all sizes and is revolutionizing the way businesses do business.
This is not surprising considering that artificial intelligence helps in making quick decisions with more accuracy. As the business world gradually realizes its potential, it already has multiple business applications.
But is artificial intelligence actually affecting the business world? How can technology help achieve business growth?
This article will discuss the top ten applications of artificial intelligence in business:
(1 ) Improve meetings
It is undeniable that meetings are the heart and soul of any enterprise. The COVID-19 outbreak has fully demonstrated that maintaining human contact is crucial even if people cannot communicate in person. With video conferencing now becoming the norm, more and more businesses are looking to enhance their solutions with advanced features and enhance communication. This is where artificial intelligence comes into play. While AI can’t eliminate meetings, it can reduce the tedious processes that occur before, during, and after meetings.
For example, AI can schedule appointments, sit in on meetings, record key takeaways and actions, and create and share actionable notes after meetings.
As technology advances, it has the potential to take video conferencing to the next level.
(2) Artificial intelligence in the field of sales and marketing
CRM tools are now becoming more and more intelligent, able to provide more accurate sales insights and help companies make better sales decisions. Thanks to AI technology, AI is now being incorporated into CRM solutions as the volume of unstructured data grows, and the complexity of customer relationships/processes expands.
AI-based CRM systems can quickly analyze data related to purchase history, past transactions, offers, emails and phone calls.
One of the most difficult tasks for a business is to understand the needs of its customers. Artificial intelligence can help businesses understand their customers better and make accurate decisions as it can assess trends in customer data. For example, businesses can save millions of dollars by implementing AI chatbots to help customers who would otherwise leave the website. It also helps gain a deeper understanding of the buyer’s journey while increasing customer lifetime value by increasing customer retention.
(3) Improve customer service
Artificial intelligence has the potential to significantly improve human interactions with customers. AI-enhanced messaging and AI email tagging are two of the most important ways AI can enhance customer service. AI-enhanced messaging, with the help of chatbot assistants, allows customer support staff to manage most consumer concerns.
AI-based chatbots can help businesses deliver enhanced customer experiences as they can personalize every aspect of customer interactions.
(4) Improve the product development process
Businesses use generative design software to enhance the creative process. In generative design, the user must input design goals and other requirements, and the software does the rest. It helps generate multiple designs from one idea and does all the heavy lifting that consumes a lot of time. This includes exploring all possible designs to meet these specifications. Such AI software can save a lot of work time and help avoid the expense of creating undeliverable prototypes.
(5) Content generation automation
With the sharp growth in content marketing needs, artificial intelligence can help provide high-quality content to users. It helps generate engaging and informative text, which is much needed today. Content generation services can range from writing product descriptions, to web copywriting, to reports and industry articles. Many AI-powered content tools are already available, with new ones being released every day.
(6) Collaborative robots for enhancing manufacturing processes
Collaborative robots bring a whole new aspect to manufacturing. Collaborative robots are the latest generation of robotic systems that interact seamlessly and safely with humans, allowing them to work alongside humans. This helps make business processes smoother and can now be designed to take advantage of both humans and robots.
(7) Automated Recruitment
For many people, artificial intelligence and recruitment may sound out of place. But AI is proving to be extremely useful in HR processes, including recruiting, operations, and employee engagement. This is especially convenient for large employers who must handle thousands of interview processes and applications each year.
(8) Eliminate Human Error
Predictive AI can combine data with strategic action by providing consistent conclusions about project needs and future events. Because AI can program itself to prepare filters and conditions, identify interdependencies and predict outcomes, it can provide reliable and in-depth analysis without human bias or error.
(9) Risk Management
Artificial intelligence’s real-time project data analysis helps decision-makers identify potential risks and opportunities. These predictive analytics provide a broader perspective on the future of the business. For example, AI can lead to better fraud detection. The traditional method of detecting fraud is to use computers to analyze structured data based on a set of rules. However, if a cognitive system eliminates something it considers potentially fraudulent, and a human considers it not, the computer will learn from those human insights and the next time it will use human logic to determine what is not fraudulent.
(10) Simplify task management
Artificial intelligence robots can complete various tasks at once. Artificial intelligence has the potential to replicate tasks and return solutions when problems arise again. Furthermore, with the help of patterns, it can analyze unstructured data faster than humans. The effective use of natural language processing (NLP) enables it to solve problems immediately before they get out of hand. Automated task management not only saves time but also eliminates errors.
The Future of Artificial Intelligence
Forward-looking businesses that want to stay ahead of the competition use artificial intelligence to achieve growth. As mentioned above, the benefits are numerous: it helps organizations become more efficient, streamline their processes, and is cost-effective.
There is no doubt that artificial intelligence will change every area of business in the future. Businesses must integrate artificial intelligence into their systems to stay ahead of the curve. The possibilities are endless, especially for businesses, as it can streamline day-to-day manual processes, help them become more targeted and efficient, and gain insights into customer trends that were impossible to sift through in the past.
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