Creating an Artificial Intelligence Strategy is a necessity for businesses now!

By POOJA BISHT |Email | May 13, 2019 | 6405 Views

Further to my previous article on 10 mindblowing questions to ask while developing an AI strategy for your Business, this article aims at telling you the necessity of having an AI (Artificial Intelligence) strategy for your business. If you still not have read the previous article, please read and explore the 10 questions that you must ask while creating an AI strategy for your business.

Why AI is a necessity?

Have you paid attention to the recent advancements in AI? Have you paid attention to the areas where AI is creating a boon? Don't you think that AI is going to impact every industry in the coming years?

You must have seen the latest advancements in Business due to AI. Robotic process automation has enormously affected the business growth positively by executing the complex tasks that are tiresome to be done by humans. Almost every of the tech giant today uses RPA tools today to carry out business processes which takes a lot of time to be done by their potential employees and creating productivity using AI.
Don't you think that these companies will move forward in the long race of competing in business?

The usage of chatbots has enabled businesses now to promote their strategies well. So, they do not have to depend on the human workforce to brand about them on the various platform when they can do it with the help of a chatbot. I have recently met the head of an education company which uses a chatbot for answering queries of its students and frees up employees to do the same. The company does not have to worry about the time the query appears on its homepage because the chatbot is ready to answer all the queries in 24*7 hours. The company has received positive feedback from its students which has improved its revenue and have amounted to its growth.

Does your company use a Chatbot? Don't you think Chatbots will play an efficient role in running your business?

The use of machine learning, which is a subfield of AI has not been limited to a particular field when with the help of machine learning algorithms online businesses are improving and growing.  The effective customer interaction when with the help of machine learning in business is identifying their potential customer's interests and thereby servicing them in their desired way. 
Machine Learning could be a game changer in improving your business processes.

Use of targeted advertisements with the help of machine learning algorithms is all helping the businesses to promote their products to the targeted customers. It was difficult earlier to predict which type of services or product the customer is interested in and at times the advertisements would go in a vain when the right advertisements did not use to reach to the desired customers. 
Targeted advertisements can improve your sales report this time.

In recent years to come, AI is going to grip every of its industry, it is sure. Companies would be left behind which are not using the hottest technology of recent times. 

Developing an AI strategy will help you in the following part:

  • Will create a framework of how AI will be used by your business
  • A complete roadmap will be created to reach your desired goal
  • A particular area to be benefitted from AI will be known
  • Most important: You will survive in the big competition market today.

Source: HOB