Artificial Intelligence is quite the buzzword nowadays. Every morning we see, hear and read about a number of quirky real-world applications of Artificial Intelligence. For instance, Chrisites recently became the first to auction a work of art based on AI. The AI generated portrait was believed to be human-made by as many as 75% of its viewers. Further AI technologies have been used on an experimental basis to determine recipes too. Daily basis apps such as Google maps and Google news are getting AI backed makeovers. All this sounds great from the perspective of innovation in computer science. However, a regular business owner or manager wonders how can such intelligence system benefit business. So here are 5 amazing applications of AI through which you can ensure business growth acceleration .
Customer Service Management
Customer Service is the face of your business. Investments by big players such as Microsoft, Google, Amazon, and Apple in AI Chatbot tools is an indication of how Chatbots are revolutionalizing Customer Service.
AI Powered modern Chatbots can have human-like conversations with clients through natural language processing, speech recognition and complex neural networks. They can also provide accurate analytics on a number of verticals in real time. Besides being available at all hours such AI systems are providing smooth, efficient and less cost-intensive customer support.
Human Resource Management
Businesses spend considerable time and resources on Recruiting. A large part of recruiting can be automated through artificial intelligence applications using Machine learning algorithms. Mundane jobs such as screening, paperwork and data entry can be done by AI applications. This leaves the Human Resource team with time that can be better utilized on performing their core competencies.
AI is helping cybersecurity develop by leaps and bounds. At a relatively nascent stage though it cannot always effectively address all issues. However, it handles data protection quiet competently. AI allows companies to detect vulnerabilities and malicious user behavior in Financial system or ERP business applications. A system of behavior anomalies analysis in computer systems can lead to protected public spaces too. Security systems can analyze identity. Deep learning can help security cameras understand if a user behaves suspiciously.
Consumers expect shorter delivery periods from retailers and retailers expect an even shorter one from manufacturers and distribution centers. Concepts such as robotic picking systems and conveyor systems allow supply chains to function round the clock. The concept of “business days” is slowly getting obsolete as consumers expect delivery 365*24*7. AI is helping stakeholders track their logistics in a comprehensive manner. At every stage of the supply chain stock can be monitored for damage, delay, fraud and more.
AI in manufacturing can provide actionable insights that can help businesses reduce non-productive downtime. It can help predict failures or build a benchmark batch across production lines. A global adhesive manufacturing customer pulls data from their lab systems where the raw material is brought in and tested for quality. Data is pulled from there and based on the dynamic conditions run through AI and Machine Learning based algorithms. Decisions about which materials to inject at what time to ensure continuity of the process can be taken on the basis of these data outputs. This helps the manufacturer keep a continual benchmark grade manufacturing of products, improving revenue and customer satisfaction.
Online stores thrive on product recommendation engines made using complex AI Algorithms. The more refined the AI based Algorithm the more accurate product recommendation suggestions for users will be. Netflix and Amazon are ideal examples. They show how sales can improve with accurate suggestions based on user behavior and Big Data analysis.
These are just some of the ways in which AI programs can be applied to regular business operations. Everything from the travel industry, social media to even driving cars is expected to undergo mammoth changes with the help of artificial intelligence. For a more detailed understanding of how Artificial Intelligence technology-based applications can benefit your business, fill the form below. We shall be glad to get in touch with you.