5 Benefits of Artificial Intelligence in Business

Artificial Intelligence can have a very positive impact on a business. Here’s how…

maria

Ramzi Chamat / 8 Ways Media
2018-11-14 10:35:00

One of the most recent benefits of cloud computing is that it enables businesses to benefit from Artificial Intelligence (AI). This new technology, which is rapidly developing before our very eyes, offers notable development opportunities that many businesses have already been quick to capitalise on.

Here we delve a little deeper into some of the many ways your business can benefit from Artificial Intelligence:

1. Automating Customer Interactions

Today, most customer interactions require human interaction, including email, social media conversations, telephone calls and online chat. However with AI, companies can automate many of these communications. By analysing data from previous communications, computers can be programmed to accurately respond to customers and deal with their enquiries. Further, when AI is combined with machine learning, the platforms interact even more, becoming even better at communicating with the customer.

2. Improving Personalised Shopping Experiences

Companies are taking advantage of AI because it enables them to provide their customers with personalised marketing, which in turn increases engagement, helps to enhance customer loyalty and improve sales. Another advantage of AI is that it is able to identify patterns in customers’ browsing habits and buying behaviour, thus enabling companies to craft highly accurate offers to individuals customers.

3. Data Mining

Cloud-based AI apps are so advanced that they can quickly discover important information and relevant findings while processing big data. This gives businesses insights into previously undiscovered information, which gives them a major advantage in the marketplace.

4. Real-Time Assistance

Artificial Intelligence is fantastic for businesses that need to continually communicate with high volumes of customers during the course of each day. For instance, in the transport industry, train, bus and airline companies can use AI-powered apps to interact with customers in real-time, send personalised travel information and provide travellers with real-time updates about their transportation, such as where it is currently situated and its estimated time of arrival.

5. Predicting Outcomes

Finally, AI is great in the sense that it can predict outcomes based on data analysis. For instance, it detects patterns in customer data that show whether the products currently on sale are likely to sell, and the volume in which they will do so. It can also predict when demand for such products will decrease. This is fundamental information in helping a company purchase the right stock – and in the right amounts.

However this ability to predict is not just useful in the retail industry. Even in banking, AI is being used to predict currency and stock price fluctuations. Extraordinarily, it is being used in healthcare to predict outbreaks of infections by analysing social media posts.

Is your business capitalising on AI?

As you can see there are countless benefits of using artificial intelligence in business, including customer service, personalised marketing, operational automation and inventory management, but the list could certainly go on. If your business hasn’t yet taken the plunge but is interested in doing so, get in touch with our team of experts at 8 Ways Media to discover how we can help your business reach incredible new heights.

Interested to meet digital professionals?

Let’s discuss your project and try to find the best solution for your needs.