10 Ways AI Is Enhancing Your Business
October 04, 2019
Artificial intelligence sounds exciting and a bit scary at the same time, doesn’t it? Today tech experts provide more and more new opportunities for the realization of what we could only see in Sci-Fi movies. Even the futuristic world depicted in the famous ‘Black Mirror’ series doesn’t look so impossible and inaccessible anymore. Today’s business landscape is looking for new large-scale changes to survive and remain competitive in upcoming years.
In this article, OpenGeeksLab has described what artificial intelligence is, how to use its advances to effectively help your organization grow and adapt to new dynamics. Keep on reading!
What Is Artificial Intelligence?
Most people are new to the concept of artificial intelligence technologies. Despite this, AI is a technology that transforms all areas of life. It is an impressive tool which allows rethinking how we integrate information, analyze data as well as use received information to improve the decision-making process.
Smart solutions are everywhere, from transportation companies to voice commands on smartphones. We use AI every day. Right now this technology, which is already available to consumers, should and can be available to leaders of any business way. Artificial intelligence technologies have undergone a remarkable refinement in recent years, a wide range of products, services, resources, best practices have emerged. Amazon, Apple, Facebook, Google, IBM, Microsoft are investing in AI research and development which will help enhance development in the near future.
As our focus shifts — finally — from AI itself to the impact that AI can have on your business, the question is no longer how artificial intelligence technologies work, but what they can do for you. At its core, artificial intelligence is about automating judgments that have previously been the exclusive domains of humans.
Benefits of AI in Business
Recently, the benefits of artificial intelligence have been a topic of discussion in many media. Until now, scientists and experts disagree, but who said that there can be only one opinion?
Here are 10 key advantages of AI:
- AI-Powered Apps
The developers are already using artificial intelligence systems to incorporate smarter and more audience-specific capabilities and features into mobile apps such as learning ability, reasoning ability, problem-solving ability, AI-based personalization, a connected ecosystem of devices and AI, AI boosting the app security, AI-based personal recommendations.
Artificial intelligence is helping develop our understanding of different symptoms, drugs, diseases. AI provides the patients with the best care by using robotic surgeries, virtual nursing assistants, patient monitoring. Image analysis and various administrative goals such as filing and charting are helping to cut the cost of expensive human labor as well as allow medical personnel to spend more time with the patients.
- Network Security
AI helps organizations find out important security alerts. AI speed up human professionals with uses of AI-tools. AI helps teams and personnel take a look at the network from the threat actor’s perspective to determine their activities that harm the networks. It also supports removing confusion, focuses on security expertise plus keeps networks safe.
- Enhancing the Customer Experience
Artificial intelligence allows looking at customer data at scale. You can then determine exactly what customers need to serve them better.
- Sales and Marketing
Marketers take advantage of AI tools to test and optimize campaigns for their target audience.
- AI-Assisted Social Media Marketing
Introducing AI into social media marketing allows exploring new dimensions, building hyper-personalized marketing messages as well as optimizing your app for high user retention
- Travel and Delivery
Artificial intelligence automation will help deliver a great customer experience in travel and delivery industries providing a variety of touchpoints that allow collecting data on a target audience, turning it into insights on how to deliver services relevant to their customers’ needs.
- Environmentally Friendly Practices
Artificial intelligence will allow making data-driven decisions about how to tackle climate changes, collect data on water bodies on a large scale, develop robots for planting trees and crops on mass.
- Artificial Intelligence in Manufacturing
Artificial intelligence can pick up anomalies in the manufacturing process as well as alert manufacturers to potential production errors before they happen. Artificial intelligence in manufacturing help lowering operating costs, improving efficiency, reducing time to market. Factory implementation of AI giving manufacturers a competitive edge and less machine downtime.
- Banking and Financial Systems
The usage of AI technologies for financial decision making on a variety of issues including credit-scoring, transactions, wealth and risk management, fraud detection.
Today, artificial intelligence is a transformative technology which available not only to technology giants and companies involved in the development of new technologies but also to every business and every industry, whether tech-focused or not.
Factors You Should Consider for New AI Technology Adoption
Artificial intelligence is a buzzword that may not benefit your business. At this time SMEs have to focus on revenue, growth, data infrastructure, not on finding a way to use AI just to fit in.
Today the use and development of artificial intelligence technologies require a lot of time and specialists with the necessary high-level skills to create an AI-powered application that drives business value. These are just two of the basic requirements to leverage artificial intelligence technologies effectively, and for SMEs they are daunting. But there is good news, SMEs have no need to build their own software. They could still leverage technologies and applications that use artificial intelligence now by using AI products off-the-shelf. These are readily available and user-friendly.
Business leaders must really be aware of what AI actually does and create a vision for its use. AI is not magic. It will not solve business problems instantaneously. Do not be seduced by the hype. Apply AI to your app only if needed.
Finding the Right AI Strategy for Your Business
The proper use of artificial intelligence for you will depend on your business targets. If you want to get real returns from advantages of AI, as in any other business transformation, everything should start with a strategy.
There are two main ways AI can help in achieving your targets:
- Creating smart products and services.
- Development of intelligent business processes.
Consumers want to use products and services that can make their lives easier, smarter, more rational. If your business is focused on creating smart products and services, then AI is what can help you with implementation.
If your goal is optimizing and automating business processes, then artificial intelligence is what can become your assistant. An example of this use is the Experian credit reference agency which uses AI to analyze its data sets to make faster and more reasonable decisions on credit ratings. Your business, in turn, can be no less successful. It remains only to determine the desired goal.
Adapt to New Dynamics
Artificial intelligence technologies are making tremendous progress every day by improving businesses and making users’ lives easier. Thanks to creativity and innovation, dynamic technology achievement will evolve and grow soon. Whether you are for or against the era of technology, we hope you agree that the benefits of AI are obvious. If you have the correct understanding of its capabilities plus proper business strategy, then you will be able to see, use, get results.
We at OpenGeeksLab know how to implement artificial intelligence in business to effectively help your organization grow and adapt to new dynamics, not just to fit in. Contact us, and we will be happy to assist you in revolutionizing your opportunities.
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