Original article can be found here (source): artificial intelligence
More and more businesses find ways to use artificial intelligence (AI) in their strategies. That makes sense because a company consists of multiple parts, meaning that people can’t handle every aspect at once. If you would like to know more about the different ways that your business can take advantage of AI, then you should look into these types of software.
While many businesses use multichannel marketing, AI can handle omnichannel marketing and provide a unified experience for your customers. That is because omnichannel marketing focuses on the customer and makes adjustments to your channel to give the best experience possible.
For example, if you send customers emails about new deals and they open those emails, then the AI knows to send similar emails to those customers. However, if those same customers ignore updates or further information, then the AI will stop sending updates. It takes care of how your customers interact with your channels and make adjustments.
Workflows make your life so much easier as a business owner. Workflows are steps and procedures that an AI follows based on the actions of your customers. In the previous section, we have mentioned that the AI will adjust what it sends, depending on how the customers interact with your channels. It accomplishes this through workflows.
Workflows work great as a way to remind your customers about information. For example, if one of your customers bought a product, you can set up a workflow to send out messages. First, it sends those customers an email confirming the purchase. Next, it sends text messages about the products. Finally, after the products arrive, it sends emails asking the customers to fill out a survey.
In short, workflows allow the AI to automatically send emails, messages, and other information based on what the customer needs.
Pricing can become difficult for business. You have so many questions to consider when deciding on the right price for your products.
- How do my prices compare to competitors?
- Do the prices make sense based on the quality differences between me and my competition?
- How will competitor deals and offers affect my sales? Should I offer sales at the same time?
According to resources.pros.com, you can use an AI to handle the pricing for you. That is known as Configure, price, and quote (CPQ) software. It analyzes data and lets you know how much you should charge your customers. That is based around the best price to increase your sales while making you a profit. This AI can help you boost your sales.
AI has developed to the point where it can easily talk to your customers and handle their issues. That is known as using a chatbot. Chatbots can respond to customers based on keywords that it identifies. From here, it will give customers answers that will help them and also guide them to what they need.
While some people may want to talk with an employee, chatbots work great outside of office hours. It’s difficult for a business to give 24/7 support, and nearly impossible for small businesses. That’s why chatbots can be very useful. They will help customers during those problematic hours and potentially help them overcome their problems.
The five advantages of Artificial Intelligence in business
- Improvements in almost all processes through automation. Repetitive tasks are candy to AI systems.
- Higher productivity. Within routine tasks, these technologies can offer assistance and thus complement methods with greater efficiency.
- Speed and precision. Faced with a high level of data to analyze, AI allows for quick decision-making. Not only that, but the decisions are precise, quality decisions.
- A step forward when it comes to innovation. The next link in the smart processes chain addresses products and services more associated with change. Again, the accuracy in your market will be more precise thanks to previous feasibility studies.
- Personalized customer service. Communication from the SAT goes to another level, before, during, and after the purchase of any product or service.
The benefits of Artificial Intelligence for large companies
Artificial Intelligence will generate more significant impacts on humanity than on the Internet, and as a result, we will help companies to be more efficient.
Artificial Intelligence (AI) will generate a more significant human impact than the Internet itself. We will be feeling these impacts everywhere; we will come across virtual assistants, autonomous cars, drones delivering products, and so many other examples.
According to studies from Stanford University, in the year 2030, our lives will completely be modified with Artificial Intelligence, from how we go to or work to how we will take care of the health. The report “Artificial Intelligence and Life in 2030” foresees how smart technologies will deal with aspects such as health, safety, entertainment, education, and transportation.
There is also another study conducted by Tata Consultancy Services (TCS), specialized in consulting and IT services. It revealed that the companies that will conquer the highest revenue requirements (a median increase of 16%) and the reduction of costs associated with Artificial Intelligence would invest five times more in technology. In this case, the companies that make lesser investments will perceive the growth of just 5%.
In the same study, they point out that 84% of companies consider or use Artificial Intelligence “essential” for competitiveness, with the 50% selling technology as “transformative.”
If we talk about flaws of AI, we can hear a lot about it in the media, where through films like Terminator, we can listen to apocalyptic predictions related to artificial intelligence, that robots come to enslave us and things like that. There is no place for such thinking because we need to gather a lot more knowledge about these things in order not to be manipulated by the media.
We are dealing with technology that has enormous potential, and no one can say for sure in which direction things will go, but what we can say is that we are the ones creating those things that affect the technologies. We incorporate our wit into the system, so we believe that man will be able to create the best possible position for himself in the future.
You can’t control every part of your business at once, so you should look into different AI to help your business run and perform well. As you look into various programs, you will find ones that can improve your business and allow you to make more money.