Artificial Intelligence Add Value to Business

By Jyoti Nigania |Email | Apr 3, 2018 | 8820 Views

Artificial Intelligence has given a competitive edge to all industries to succeed in the journey of digital transformation. With the help of artificial intelligence, companies can improve the customer experience, employee performance and automate work processes. Basically it is set to revolutionize in such a way that positively impact the growth and revenue of the business. 

A confluence of developments is driving this new wave of AI development. Computer power is growing, algorithms and AI models are becoming more sophisticated and the utility of such AI assistants help users source information from the Internet, shop, manage our schedule, remind us of appointments, among various other things. 

However, AI can deliver real value to companies willing to use it across operations and within their core functions. Early AI adopters that combine strong digital capability with proactive strategies have higher profit margins and expect the performance gap with other firms to widen in the next three years. By becoming aware of every customer communication, AI will possess decision-making capabilities for future interactions and will be able to identify the user and provide the optimum service based on their profile and relevant behaviour.

The most obvious way to use artificial intelligence for business is for virtual assistance, generating insights, automation of manual process and it works for 24x7. AI is also changing Customer Relationship Management (CRM) systems. Software like Salesforce or Zoho require a heavy amount of human intervention to remain up to date and accurate. But by applying AI to these sorts of platforms, a normal CRM system is transformed into a self-updating, auto-correcting system that stays on top of your relationship management for you.

We're no longer expecting the user to constantly be on a search box Googling what they need exactly,"the paradigm is shifting as to how the right information finds the right user at the right time." So we have to really think about this and decide what makes us productive and what is the value for the customer which obviously adds value to the business.

Source: HOB