5 Ways Artificial Intelligence Can Make Your Business More Profitable

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Artificial Intelligence / Big Data / Machine Learning
artificial-intelligence

1. Automation

Artificial intelligence is becoming so advanced that we’re currently seeing honorary disciplines being aided, though not yet replaced, with computerized assistance. Some customary journalistic tasks are already being carried out by AI, such as summarizing reports, analysis, and pulling data from A to B to gauge further intelligence. Other advancements are being made within the administrative field at a growing rate, with AI able to schedule meetings, note down important items, and take customer requests with minimal supervision.

2. Deeper and Better Insights

Without analysis, a lot of company data is largely useless. However, with more of business’ data being pulled into cloud servers, a growing, vast quota of information – big data – is constantly being surveyed for insights. This kind of new mobility can allow companies to make predictions based on older data, and can even offer prescriptive insights to forecasting future trends. Soon, restaurants could also be able to benefit from utilizing AI to discover specific insights, allowing them to determine which music they should play based on the data profiles of the patrons who’ve made reservations at their locations.

3. More Satisfied Customers

Artificial intelligence has dramatically enhanced customer service performance, fundamentally resulting in higher-performing retention and more loyal customers. Natural language processing capabilities mean that more businesses are developing their own chatbots to respond to first-time visitors and help them along their purchasing journey. E-commerce fashion companies, for example, are using intelligent servers and algorithms in combination with professional stylists to give each consumer premium, personalized catalogs depending on their data profile and taste. Speech recognition capabilities are also widely used to facilitate customer service inquiries at an all-time low cost, with speech-enhanced bots able to respond to customer inquiries within call centers and online.

4. Faster Delivery

Until recently, computerized components weren’t powerful enough to audit vast databases in order to manage and administer products. But artificial intelligence  carries the capability to gather molecular information, meaning it’s able to precisely select products and determine actions required based on a host of data. Pharmaceutical and medical industries are particularly noticing this advantage, using intelligence and sequences to tease out big health data, which is expected to one day predict characteristics that lead to specific diseases and prevent them before they occur. They’re also able to use AI’s prognostic analytics to advocate which new medicinal products should be manufactured above others. Other artificial intelligence  technologies specifically placed in vehicle repair and maintenance services are able to cut down unnecessary expenses for their clients, detecting potential breakdown issues and getting them resolved automatically.

5. Less Human Labor

Artificial intelligence has managed to supersede many back-breaking manual chores and is currently starting to replace menial computer-based work. Machines are able to work tirelessly and for free, either substituting for previous human labor or working to assist us in making workflow processes much faster and easier for us to handle. Right now, medical manufacturers have honed in on highly advanced technologies to incorporate state-of-the-art AI within some equipment, which is able to perform medical procedures such as knee surgery with absolute precision. Soon, they could be assisting doctors to help with more advanced procedures such as tumor removal. Qualified physicians, therefore, would then be able to focus on the most complex and intricate work. In many other sectors, this replacement of manual labor has paved the way for more creative and skillful opportunities to come about for professionals, which still require the intrinsic vision and ingenuity of the human mind.

 

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