Artificial intelligence is revolutionizing the technology sector and transforming how the world works. This technological innovation in companies means reduce operational costs, increase efficiency, increase revenue and improve the customer experience.
What is Artificial Intelligence used for?
What makes artificial intelligence such a must-have technology in today's world is its Application to any sector. On the one hand it can help farmers find the most efficient cultivation techniques, and on the other hand it can develop the potential of the banking and insurance sectors.
NIt's not a new technology, but advances are taking full advantage of it. In addition, fusing artificial intelligence with cloud computing technologies will make it accessible to any company that operates in the cloud.
The functions of speech recognition using natural language processing, they have improved so much that Cortana, Siri, Alexa or Google Assistant can book a flight to New York without problem, and according to Microsoft this technology will become the new user interface. Biometric technologies such as image recognition they are exceeded every day and their application is extensive, from autonomous vehicles, to the interpretation of emotions on the human face. AND la problem solving using artificial intelligence For example, it allows PayPal to use Machine Learning algorithms to detect cases of fraud, also applicable to Wall Street investors.
And from theory to practice, these are 8 ways in which artificial intelligence can improve your business:
1️⃣ Know your market better:
Artificial intelligence detects customer search and purchase patterns, and using the millions of transaction data stored in the cloud, offers personalized marketing to retain customers and improve the sales process. In addition, biometric technologies can identify and measure interactions related to touch, images, voice and body language of customers, a important tool in market research.
2️⃣ Revolutionize communication:
With artificial intelligence, programs like chatbots can give intelligent answers to an unlimited number of queries, and in real time, allowing human agents to attend to the most complicated or urgent requests. Furthermore, when artificial intelligence is combined with machine learning, the more these programs interact, the better they will work. It is estimated that in 2020, 85% of online consultations will be carried out by these intelligent machines.
3️⃣ Make smart decisions:
Data is considered the oil of the world today. Thanks to artificial intelligence, along with natural language processing techniques that serve to understand unstructured data or Deep Learning that mimics the human brain; the make decisions to be more informed, fast and relevant. IBM estimates that decision management will spend $2025 billion on artificial intelligence by XNUMX.
4️⃣ Increases efficiency:
Artificial intelligence is not a threat to workers, but a help tool. Improve business performance by automating routine tasks, reduce human error and allows employees to focus on the most demanding tasks. Its application ranges from maintaining the ideal temperature with intelligent heating, to robots that are used in some hotels in Japan to serve customers in 4 languages. It is predicted that the Knowledge-intensive medical and legal professions will increasingly use artificial intelligence as a diagnostic tool.
5️⃣ Predict the future:
Artificial intelligence can predict future outcomes by analyzing vast amounts of data. In the retail sector, for example, you can see patterns in customer purchase data to calculate which products are going to sell and how much; helping to calculate the necessary stock – It is believed that in 10 years the seasonal sales will not exist since with artificial intelligence there will be no excess stock to sell. It is also applicable to sectors such as banking where can predict fluctuations in the price of shares or the behavior of debtors; or in the health sector where can predict an outbreak of infection Analyzing social media posts.
6️⃣ Select the best talent:
Artificial intelligence allows you to review numerous job applications to find the most suitable profiles for the company, and reject those that do not meet the specifications. This save time and money in human resources companies, and guarantees an impartial selection process.
7️⃣ Increase security:
Artificial intelligence is being used to develop new security solutions against cyberattacks and identity theft. Recurrent neural networks are capable of processing sequences of inputs that with Machine Learning techniques reveal suspicious activities in users and detect up to 85% of all cyberattacks.
8️⃣ Create content:
The online world demands constant content creation whether it be videos, ads, blog posts, infographics, or other visual or written resources. Brands like USA Today, Hearst and CBS are already using artificial intelligence to generate their content.
All eyes are on the new possibilities that this technology offers and how it will affect the digital transformation in companies. For more information on technological solutions methodologies for your business, do not hesitate to get in touch with our technology consulting, we will be happy to assist you.