Five Main Reasons to Introduce Artificial Intelligence into Your Business
The future, where interaction with artificial intelligence (AI) is commonplace, inspires and scares at the same time. The futurist thinks about how to make life easier for the person, while the average worker is worried about how he will earn money if a robot replaces him in the workplace. And you, being a business owner, are surely thinking how to extract the maximum useful effect for customers and companies, using artificial intelligence latest developments. We at Archer Software decided to dispel the most popular doubts about the implementation of artificial intelligence technology in business processes and indicate the reasons why it is beneficial to introduce it now.
AI Is a Way to Increase Productivity by Automating Business Processes
Is it possible to imagine enterprises operating on their own? Automating knowledge-intensive labor with the introduction of AI technologies can, by 2020, reduce the cost of maintaining staff by $9 trillion. Combined with increased efficiency when using robots, this will mean almost complete automation of key recurring production functions.
For example, AI-based recruitment solutions are able to attract candidates for an open position. The program independently checks their abilities, analyzes the compliance of skills, assigns interviews and fills out a report on the interviews conducted. It also checks and extends temporary contracts of cooperation with the company. Thus, computer consciousness can improve the generally accepted mechanisms of recruiting and simplify the task of any employer.
AI Is Able to Strengthen Existing Working Resources
Scientists are trying to imitate human thinking. More precisely, AI works on the basis of its specific algorithms, but it solves complex "human" problems. The fourth industrial revolution is the result of the introduction of artificial intelligence programming and machine learning in businesses.
Machines themselves now make decisions and become direct executors of operations. Every business needs to think about how to adjust to this change in the near future. Today, success is determined by the ability to combine the use of new data sources with machine learning in order to build long-term relationships with customers. Risk management managers possess a large amount of traditional information that needs to be combined with new, complex and constantly evolving data sources, including social media data, marketing and geodemographic data, and speech recognition results.
The Chance to Increase Demand Due to the Availability of Personalized And/Or AI-Equipped Products/Services
The day when a static website (one that renders the same for all users) will be forever obsolete is coming soon. Advertising that companies show to users is personalized, content on many resources is selected in accordance with user preferences, publications in social networks are filtered according to interests. So why are sites still static?
Judging by the trend, the product cards, recommended shopping lists, the type of feedback to the store, and even the prices will dynamically change according to the user's preferences. Search engines, social networks, and smartphones know a lot about their users, and soon this information will help businesses sell more, and faster. That is, of course, if you decide on introducing artificial intelligence projects into your business processes.
AI Gives an Opportunity to Look into the Future with Predictive Analytics
The analysis of characteristic phrases using natural language processing allows us to quickly determine typical models of customer behavior on the basis of advanced text analytics and predictive modeling. Using the results for machine learning, it becomes possible to create even more dynamic, constantly evolving and highly efficient models. They can, among other things, produce customized online offers for products and services that are most appropriate for a particular customer. For example, in the insurance industry, technology can help companies identify low-risk customers, and thereby offer competitive prices for mutual life insurance while preventing the possibility of fraudulent insurance claims.
AI Can Create 100% Winning Strategies
Modern companies have to conduct business in an environment where the data necessary for forming marketing and business strategies is set by customers themselves. It is impossible today to simply make an offer and hope that it will be successful. Modern businesses need a clear strategy based on user preferences. These preferences include past trends, current needs, and future requests. The human mind is not capable of covering and analyzing this amount of information. But the best artificial intelligence software can easily cope with the task.
Additionally, the main advantage is that when a strategy is developed by a program, irrationality is radically reduced. Human errors and fears are alien to an algorithm. The best artificial intelligence programs are able to gather all the available data, classify and analyze it, and make clear step by step strategies on this basis.
Artificial Intelligence Development: Main Issue to Take Into Account
To successfully implement artificial intelligence solutions, you will have to collaborate with the best artificial intelligence software companies. Due to the fast-growing market of corporate AI, many of them will not meet the requirements necessary for success, and this will need to be taken into account when choosing the executor of your idea.
In addition, for training and deploying AI applications, developers need access to a scalable and affordable computing infrastructure that can support the processing necessary for AI data, and this becomes a business task. Building this infrastructure requires a lot of time and money. And most small companies simply cannot afford it. It is worth remembering that today there are many simpler, accessible intellectual services that make the development of AI applications acceptable for enterprises. After all, it is not necessary to build a special infrastructure and human capital from scratch.
Instead of the Conclusion
Before deciding whether AI technology is right for you, you need to step into the consumer’s place and test new technology to get real experience. Consider the options for the inclusion of AI in the workflow of your company and weigh the pros and cons of the introduction of new technology. More recently, only large corporations could afford to invest in AI, but the situation is rapidly changing. The rapid growth of the popularity of AI programming solutions allows startups and small, young companies around the world to use them with maximum business benefits.
From our point of view, we believe businesses should create and introduce AI developments. We are ready to help your business become more with AI technologies ready today. Let’s get in touch!