The use of Artificial Intelligence(AI) in different businesses regardless of the sector of the economy is growing exponentially. Today, businesses of all types are discovering the benefits of AI in the workplace. Top companies and organizations are employing Artificial Intelligence to work hand-in-hand with the employees for more accurate, efficient, and effective results.
- 0.1 Artificial Intelligence can be grouped into three categories;
- 0.2 Cognitive Computing:
- 0.3 Machine Learning:
- 0.4 Deep Learning:
- 1 How To Employ AI In Your Businesses:
- 1.1 Improving Customer Service and Experience With AI:
- 1.2 Monitoring Business Processes With AI:
- 1.3 Using AI in Hiring Process:
- 1.4 Using AI To Forecast Future Opportunities Accurately:
- 1.5 Building The Perfect Sales/Customer Funnel With AI:
- 1.6 Effective Use Of Labor And Capital:
- 1.7 Creation Of New Jobs With AI:
- 1.8 Fighting Off Cyber Threats:
- 1.9 Health Information:
- 1.10 AI Reduces Errors:
- 1.11 Performing Iterative Tasks:
- 1.12 Multi-Tasking:
- 1.13 Wrapping-up
Artificial Intelligence can be grouped into three categories;
This system has to do with enabling human-like interactions. They are self-learning software that stimulates the human thought process through natural language processing, intelligent automation, and data mining. These machines are widely used by businesses to enhance the customer’s experience.
Machine learning is a part of Artificial Intelligence that deals with the building of systems from learning data. These machines automate the boring stuff done by employees by identifying patterns and predicting future outcomes, as well as giving solutions if the need arises based on the patterns with minimal human intervention. They are widely used tasks like Email filtering, self-driving, voice recognition, etc.
Deep learning is a branch of machine learning that has to do with big data and analysis. They are used in neural networks to build computers that are like the human brain. Deep learning is used to teach machines to perform tasks like accompanying humans with iterative workplace tasks, answering customer’s queries like a human, creating products or services when needed, etc.
How To Employ AI In Your Businesses:
By the automation of some business processes with AI can help your business grow in many ways and boost sales efficiently. Some of these ways to use AI are;
Improving Customer Service and Experience With AI:
Remember those days you have to wait for hours or even days to get a reply from customer service? Well with AI those days are now long gone. AI-driven chatbots allow companies and businesses to provide their customers with 24/7 customer support through cognitive computing and deep learning.
These bots are automated to make customer communication experience more personal and better mimic human speech. The bots effectively improve the customer’s journey down the funnel to increase customer satisfaction and make the sale. AI chatbots do not just help improve customer experience but also have been seen to reduce salary and benefits costs.
Monitoring Business Processes With AI:
With Machine and Deep Learning, AI machines are trained to process data in real-time which allows businesses to use AI monitoring capabilities to monitor actions and alert the necessary team When an issue is found. Artificial Intelligence systems even go further to predict what maintenance will be needed to solve the issues. This will go a long way to help businesses prevent costly breakdown and cost of maintenance.
Using AI in Hiring Process:
Artificial Intelligence Software’s can be used to reduce the time spent to fill out open roles, analyze candidate’s applications, etc. better and faster. The automation of hiring processes through the use of AI by automating screening calls, sending emails, analysis of candidates, etc. Will help to increase cost efficiency and reduce the overall time spent when hiring new talents.
Using AI To Forecast Future Opportunities Accurately:
Artificial Intelligence Systems can help businesses and organizations to better forecast future objectives without the need for human intervention. Using AI models for this task will give businesses better and more efficient visibility on their plans, take and track decisions effectively.
Building The Perfect Sales/Customer Funnel With AI:
Artificial Intelligence software can be used to build an effective and accurate strategy needed to make your sales funnel. This software can use past data and previous sales records to predict the right strategy needed to ensure a successful sale and avoid cart abandonment in terms of shopping businesses.
Effective Use Of Labor And Capital:
The Automation of your business with AI will enable your employees to focus more on valuable, strategic projects. Focusing more on what matters to boost business capital and letting the artificial intelligence system handle much more complex or simple task.
Creation Of New Jobs With AI:
Contrary to what many people believe, that Artificial Intelligence will be about unemployment and job loss. But, from the abundance of data our businesses use from day-to-day activities, this would create more jobs for many skilled employees that will be required to interpret or monitor the processes.
Fighting Off Cyber Threats:
Automation of your businesses with AI security will monitor and identify security threats as well as put in necessary measures to keep off these threats to ensure the safety of the customers and business data.
For businesses that are in the health sector, AI-powered applications can go a long way in sustaining the lives of their patients by providing the right medical information right to their mobile devices.
AI Reduces Errors:
Artificial intelligence isn’t error-free generally speaking, but it is more accurate than humans with the normalcy of 99% certainty e.g The Google’s LYNA (Lymph Nodes Assistant) that can accurately predict 99% and 69% sensitivity on breast cancer detection. In banks and businesses, AI can be used to measure financial transactions more accurately.
Performing Iterative Tasks:
Humans are prone to fatigue and fatigue causes mistakes when they perform a repetitive task but with an Artificial Intelligence system or software, these models can perform iterative tasks over and over again. This does not only save the cost of employment but makes sure that the task is performed more effectively.
Unlike man, Artificial Intelligence software is excellent in multi-tasking taking an example of a price oracle in cryptocurrency that can monitor price data as well as give accurate feedbacks on price and market cap and other features of cryptocurrencies at the same time.
The numerous benefits you can gain by using AI to automate business processes can not be overemphasized, AI can perform many different activities and win the business competitive advantaged. These machines and software can boost your business sales as well as improve customer experience exponentially and this software, bots, and machines are cost-efficient, more accurate, and effective.