Artificial intelligence (AI) has been a buzzword for quite some time, but many business analysts agree that we've only just begun to scratch the surface of this rapidly advancing technology.
From voice-powered personal assistants like Siri and Alexa, to self-driving cars and car parking from Google and Uber, AI continues to make its way into many aspects of our lives, and its proliferation is set to increase exponentially in the years to come. . come.
While the long-term implications of AI remain unclear and highly controversial, what is becoming increasingly apparent is the need for companies to embrace AI in order to remain relevant. In fact, being heralded as "the year of AI," in part due to the anticipated widespread adoption of AI in the workforce; AI implementation grew 60 percent in the last year alone, according to Narrative Science.
To understand the value of Artificial intelligence services in Virginia, it's first important to realize that you don't have to be a tech giant or a high-revenue company to get results. In fact, as you'll see below, incorporating AI aspects can be particularly beneficial for small and medium-sized businesses.
With that in mind, here are three ways AI can help your business:
Generating business through a virtual customer service agreement:
Providing an unparalleled customer experience is considered one of the most notable differentiators for transactions today. Business Insider reports that by 2020, nearly 85 percent of all customer interactions will be handled without human involvement. Companies are turning to machine learning (ML) and AI to automate repetitive responsibilities and ease the routine jobs of customer service agents. A recent report from an Artificial intelligence service company in Frisco revealed that nearly 42% of B2C customers bought more after experiencing decent on-premises practice, while 52% stopped buying after experiencing poor customer service treatment. Therefore, systematizing a vertical and well-organized customer support system using AI will certainly accentuate the business to a huge level.
Gain a competitive advantage in the global marketplace:
According to a study by the AI companies in Virginia, companies that adopt advanced AI are 52% more likely to grow their market share and 27% more likely to account for growth in their market than companies that are simply testing or moderately implementing Artificial Intelligence. The early adoption of Artificial Intelligence validates the potential of AI to transmute all business procedures. Consequently, companies with thoughtful and practical implementation approaches have the potential to make viable gains in the marketplace. Companies that take this preliminary step of adopting AI are certainly getting a head start, as it will help businesses perform in a customer-centric manner so that businesses can benefit in the long run. So the sooner you switch, the better, as the career benefits of AI are limitless.
Generate business insights:
Data is sometimes called "the new oil" as it has become an invaluable resource in the digital economy. But even big data is useless when you can't make sense of it. Artificial intelligence can help businesses process billions of data points in an instant. Whatever question you need the AI to answer, it can and will keep getting better at answering. What movie will Jane like? Will customer X abandon? Will this item be out of stock? AI can provide accurate predictions about future outcomes based on historical data.
Artificial intelligence turns information into knowledge and even gives you a glimpse of the future! Of course, AI is not a fortune telling technology, but it can support your business with predictive analytics. Predictive analytics is a form of analytics using machine learning: algorithms analyze historical and current data to make predictions of future outcomes.
Improve the customer experience:
Artificial intelligence solutions are beneficial for both companies and their customers. It's much easier to justify collecting different types of data when you actually add value. Most people are well aware of how much information companies like Google or Facebook collect from them. But in exchange, we get what's called a "free" service. It's actually "free" in terms of monetary payment: the currency we use to pay for such services is our personal information. And we're mostly fine with that.
Users love the fact that Netflix shows them the movies that are really fun, Spotify creates personalized playlists that they enjoy, Uber arrives quickly and gets them there at an affordable price, Alexa prepares their shopping list. Companies know where we live, what our jobs are, where we are at a given time of day, what we buy, what we see, what we listen to. By observing user behavior, they can ensure that the products or services they offer are relevant and attractive. They create personalized experiences. And honestly, in the past, personalized experiences were a luxury that only the wealthiest could afford. Nowadays, however, the large amount of data creates patterns that allow companies to know users and be prepared to treat them individually.
Impact of artificial intelligence on business:
By implementing the right AI technology by Deep learning development companies in Texas, your business can gain the ability to:
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save time and money by automating and streamlining routine processes and tasks.
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increase productivity and operational efficiency.
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make faster business decisions based on the results of cognitive technologies.
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avoid mistakes and 'human error', as long as the AI systems are set up correctly.
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use the information to predict customer preferences and offer them a better personalized experience.
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mine a wealth of data to generate quality leads and grow your customer base
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increase revenue by identifying and maximizing sales opportunities.
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increase the experience by enabling analysis and offering intelligent advice and support
According to a recent Data science company in USA study, the main driving force for using AI in business was competitive advantage. After that, the incentive came from:
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a decision directed by the executive
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a particular business, operational, or technical problem
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an internal experiment
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customer demand
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an unexpected solution to a problem
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a branch of another project
Conclusion:
Artificial intelligence can help MSMEs and large companies achieve their goals to take business to new heights. When a company understands and implements AI technology, it can increase revenue by up to 30% (according to a study by Machine learning development companies in USA).
Getting help from a foreign company that provides AI consulting is a feasible and cost-effective option compared to building an in-house AI team from scratch. It could help you get a clearer picture of how AI can drive business and increase ROI.
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USM Business Systems turn your AI Vision into reality by applying our intelligence and expertise in Computer Vision, Deep Learning, Machine Learning, and Natural Language Processing. We work with companies of all sizes to create artificial intelligence products, from consulting to development, user training, and maintenance. Our artificial intelligence development services in Texas are made up of data scientists, artificial intelligence analysts, designers, full-stack developers, and software architects.
About the Author
I am a passionate content writer and blogger who has written a number of blogs for mobile app development. Being in the blogging world for the past 3 years, I am currently contributing tech-laden articles and blogs regularly to USM Systems. I have a competent knowledge of the latest market trends in mobile and web applications and express myself as a huge fan of technology.
