Artificial Intelligence for Your Business

Original article was published on Artificial Intelligence on Medium

Process Automation

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The most obvious utilization for AI is certainly process automation. Computers may not be as creative in their problem-solving approaches but they can definitely solve any math problem faster than you. Any simple task that does not require much skill can easily be given to AI algorithms.

1. “Reading” documents with Natural Language Processing

Computers these days can extract essential features from any article and document and provide you with an in-depth analysis. By reading through all of your financial reports and legal documents the algorithm can find every mistake you can think of. Additionally, the data can be analyzed for optimizing your spending and maximizing earning.

2. Transferring email and call data

This type of data is stored for a reason and by having a simple algorithm that would transcribe all of this and organize by categories there a lot of useful insight that can be found. Then, the information can be analyzed, which will save your employees countless hours of reading every single email.

Cognitive Engagement

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This category includes any type of communication with customers’ real-time requests and order processing. Do not underestimate the amount of work a computer can do.

1. 24/7 Support and Chatbots

If your business does not have a chatbot, well, go get one. It is basically the standard for many websites and services, which can drastically decrease the number of employees you need for customer support. Additionally, the employees you do have will only have to deal with important requests, while the algorithm can handle any account-related issues.

2. Product and Services Recommendations

With the use of the data collected from emails, phone calls, and website behaviors, your computer can provide product suggestions to customers that are likely to pay for such.

Cognitive Insight

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The final category I would like to mention here includes collecting statistics and actually analyzing it. An algorithm can understand what your customers like and what they do not. With the help of AI, you can know which customers want a specific product type and based on that adjust your products and advertisements.

1. Purchase Predictions

By spending our researching previous purchases your team can find out what products sell best and what type of people are more likely to buy. Or you can give that job to an AI algorithm which in addition to that will tell you exactly what a specific person browsing on your website will purchase.

2. Automate Personalized Ad Targeting

In addition to the previous point, you could take a step further and actually automate your ad strategy. Find an algorithm that analyzes your previous advertisement data and adjusts based on the current situation.