How to improve your business using Artificial Intelligence
- What is Artificial Intelligence
- Benefits of using AI in a company
- How is artificial intelligence used in business
Many companies have already seen how Artificial Intelligence can boost the productivity of their business, both in cost savings and in the time spent. The applications of this technology are endless, no matter the sector, it can be adapted to any environment and its advances surprise us every day more.
We do not exaggerate when we say that Artificial Intelligence is changing the world as we know it. At first glance, we may not see it or notice it, but it accompanies us every day and is being a key factor in the digital transformation in which we are immersed. We see it in virtual assistants like Siri, Cortana, or Alexa, in autonomous cars, Smart Homes, machine translations, web services with recommendations, intelligent photo management (such as automatic Facebook tagging), chatbots, software to detect diseases like cancer… It’s an endless list.
In every forecast for the yearly technological trends, we can find it in the first place, and it’s understandable as the experts assure that its use will increase exponentially in every single area. Looking ahead, Artificial Intelligence will have influence and be decisive to the extent that it will influence aspects such as the business approach or organizational structure in the creation of new businesses.
But first, let’s go a little deeper into what Artificial Intelligence is.
What is Artificial Intelligence
We can define Artificial Intelligence as the combination of algorithms that aim to create machines that reproduce human capabilities. It brings together a large number of technologies that equip these machines with the ability to understand, analyze and learn, thus turning them into tools with the ability to automate and improve processes autonomously.
Plain Concepts is a Microsoft AI Partner and we are specialized in the creation of new data relations through the use of heterogeneous information sources that, combined with our AI developments, exponentially elevate productive capacities, both machines, and human equipment.
If we go further into its foundations, we find 4 main techniques of Artificial Intelligence:
It’s the science that makes computers do things without explicit programming. They allow developing solutions capable of improving themselves in each interaction or execution of processes.
They allow us to incorporate the capabilities of Artificial Intelligence: Voice, Vision, Knowledge, Language… This allows you to customize solutions to interact with customers around the world without any barriers…
Give machines our vision capabilities to process, analyze, and understand images.
Natural Language Processing
It is essential that machines act in the most “human” and natural way possible, and this allows them to process our natural language automatically (analyze opinions, detect topics of interest, classify documents, etc.).
Benefits of using AI in a company
As we said above, the range of possibilities offered by AI is infinite and can be extrapolated to multiple areas, both work and personal. In the case of companies, companies that have already implemented this technology have seen how they can shorten delivery times, increase productivity and efficiency, and increase profits.
Here are some of the benefits:
Time savings and increased productivity
Automated processes help employees forget more “mundane” tasks and spend their time on more important tasks. This, in turn, results in cost and time savings.
Improves the customer experience
It combines customer data, predictive analytics, and time-bound services, offering solutions that enable businesses to provide an omnichannel, personalized, and convenient experience at every phase of customer engagement.
Learning from mistakes
One of the big points in favor of AI is that it has the ability to “learn” from its past mistakes and apply improvements for the future and thus improve continuously.
Optimization of data
The amount of data that a company handles can be unattainable for a person, so the AI manages and manages them efficiently and according to our needs.
No time limit
It is one of the great advantages because automating our activity allows us to be active 24/7 services. Machines do not sleep or go on holiday, which is very important in terms of public service and retail.
How is artificial intelligence used in business
Every department from a company can benefit from the implementation of AI in the business, but especially areas such as marketing, sales, logistics, operations, finance, and human resources. That is why it is worth assessing whether the difficulties facing our company could be solved with AI. We are confident that the answer will be yes and the solution will be achievable and scalable, as well as effective and efficient.
We’ve compiled some examples of AI applications that can benefit your business:
Advanced data processing
Businesses handle, in most cases, a very large amount of data hosted in the cloud or on various devices. And these do nothing but increase day after day.
If a company incorporates machine learning algorithms, it can take much more advantage of the information, process it, and extract the data we need instantly. An example could be customization when sending an email according to what the customer has previously sought, marketing strategies according to location or language…
Virtual and augmented reality applications
Many times, Virtual and Augmented Reality is associated with the gaming world, but it’s not at all like that.
The applications of these immersive technologies can benefit architecture or furniture sales companies, which can offer their clients a representation of how a piece of furniture would look in their living room or how a 3D format infrastructure will look.
But it is not the only thing, because it can be used in cosmetics and aesthetics companies, which can present you how a certain product will look personalized.
Chatbots focused on customer service
Surely, they are not a novelty, and it’s most likely that more than once you have interacted with a chatbot to solve a question related to a product or service. More and more websites are implementing chatbots on their websites (increasingly sophisticated) to answer a wide variety of questions that customers may raise.
Language has been significantly improved when communicating, making the experience the closest to talking to a person. This app significantly reduces costs and provides a lot of information about the audience.
On the customer side, it gives them the possibility to have customer service at any time and not have to adapt to business hours or wait for a technician to be free to assist them.
Product customization in eCommerce
The competitive advantage offered by Artificial Intelligence in the electronic market is incalculable. It is becoming easier to access and for a low cost. Leveraging machine learning, software labels, organizes, and searches for content automatically when labeling product features.
The AI allows potential buyers to offer similar products to their searches, following brand details, color, shape, style, etc. The software is guided by the visual signals of the loaded images, thus helping the customer.
Web optimization for voice searches
Regardless of the operating system you have or your preferences, we are sure that you are more than familiar with using Siri, Cortana, Alexa, or Google Assistant. The great success of these voice assistants is because we prefer to say what we want to do, whatever the activity is, rather than write it.
It is expected that in just 3 years more than 8 billion voice assistants will be used, a key breakthrough for people with physical disability and who could have their great ally in this tool.
Websites are optimized by adapting to voice search trends and classifying the keywords and phrases that people are likely to use as they speak. Also, another highlight is to optimize local content and provide clear and immediate assistance in response to search queries.
Protection against cyber-attacks
Being so connected means we can access an innumerable source of opportunities, but it also makes us more vulnerable to cyber-attacks. Although there is still a long way to explore within the AI field, it is a key factor in data protection. AI enables companies to detect vulnerabilities or abnormal behavior of users in commercial applications, especially those related to financial systems.
Artificial Intelligence offers the possibility to detect these attacks and weaknesses in a much faster way and detect other possible threats of the future, which allows us to be prepared for any unforeseen event. Damage is minimized and, along with IoT (Internet of Things) solutions, you can track what happens in real-time, giving you the ability to stop any dangerous activity instantly.
When you automate the routine processes of a business, you save time, improve services, and make employees more productive. It is very useful in tasks such as issuing entries, reviewing the stock, analyzing customer comments to prioritize those that are negative and address them with priority…
But they are not the only applications, as it can also move to data update and migration, add customers to our database, issue invoices, CRM updates, etc.
Human resources management
The departments of Human Resources and recruitment will be one of the great beneficiaries, especially in the saving of time. Aspects of both areas can be automated to read all important information and classify it into the most relevant data.
It will reduce tedious paperwork tasks, as well as provide the most powerful tools and knowledge to improve your productivity. The traditional search for new workers will be reduced exponentially and it will no longer be necessary to spend hours reading and sorting CVs. You only need to pay attention to the ones that the software has selected as the ones that best meet our requirements. The benefits are amazing!
Artificial Intelligence allows companies to have data about their customers that drive improvements in many areas of the supply chain.
Customers are increasingly demanding shorter delivery times, which makes the requirements from retailers to manufacturers and distribution centers higher. Autonomous trucks or robots allow processes to be shortened and even, in the future, working days will disappear in the waiting period and it is distributed during weekends and in non-ordinary hours.
Due to the situation caused by the pandemic, technological advances have had a lot to do with the health industry and will continue to do so over the next few years. It is obvious that it cannot replace the tasks of humans, but it can make their lives much easier.
You can improve the whole bureaucratic system, avoid processes and activities that are not focused on the patient, expedite appointments… Ultimately, AI improves patient confidence, prediction, quality, and safety.
These are just some of the AI applications you can deploy to improve your business, but there are millions. Don’t miss some of our AI case studies!