Technology

How Artificial Intelligence is Benefitting Businesses?

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artificial intelligence in business

Artificial intelligence (AI) is the ability of a digital computer or computer-controlled robot to perform tasks commonly associated with intelligent beings like speech recognition, learning, planning and problem solving.
Rise of artificial intelligence (AI) systems will power the next great business push. AI is becoming important in the business world and organizations are increasingly adopting AI in their businesses. AI has a significant impact on business activities, including enhancing productivity and efficiency.

Artificial Intelligence is already helping businesses in automating repetitive tasks that sales people, HR department and entrepreneurs used to spend hours each week on. The employees can concentrate more on thoughtful and creative aspects of their work. For example, sales people can use smart CRM to enter data on their behalf which can enable them to give more time on building relationships with customers. HR officials can use smart recruiting solutions to filter job applicants more effectively. AI apps are also available for businesses to give a boost to their operational processes and workflows, allowing them to focus more on growing their businesses.

Many businesses are using AI to act as virtual customer service representatives and front-desk receptionists. Speech recognition software allows clients to receive customer service by phone without even talking to a person. Clients can benefit greatly from AI applications in business. For example, people can check the activity of their bank and credit card accounts by phone without ever talking to anyone. They simply have to talk to the artificially intelligent system on the other end that understands their words. AI provides virtual assistance allowing you to speak into a phone to search for answers to basic questions. Businesses also deploy chatbots for various uses including customer service.

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Today, robots are able to work alongside humans in factories. Artificial intelligence is thus quickly automating routine cognitive processes. Artificial apps can dynamically adjust marketing campaigns to signals from your audience, and some apps can analyze customer buying behavior.

AI can also be used in business intelligence and analysis, where organizations can get a chance to think differently generating new solutions for business growth. It can take in billions of data points and analyze them in minutes. The benefit is they can also learn from the data and get better over time. The reason why AI systems are powerful is that unlike statistical approaches, they can learn. This makes them adapt to the changing market behavior as well as continuously improve performance as more data comes in.

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