Artificial intelligence is the latest technology buzzword. It is impacting businesses across various domains. The power of artificial intelligence is boundless and offers some of the most amazing benefits. Many of the renowned organizations including Amazon, Facebook, and Uber are leveraging the benefits of AI and machine learning to devise solutions that are revolutionary and hugely impactful. The introduction and integration of AI into businesses is helping common masses to enjoy the ease in day to day activities. The AI systems are capable of analyzing and processing huge amounts of data. They are so competent that based on data collected they predict the expected outcomes. Well, it is not surprising to know that several big companies are adopting artificial intelligence backed solutions for their business growth. Facebook’s facial recognition, Google Assistant, Amazon’s Alexa, Robo readers all work on artificial intelligence and machine learning.
As per the report presented by Boston Consulting Group and MIT Sloan Management Review 84 percent of companies feel that AI technology can help them achieve and sustain a competitive advantage. The study was conducted on 3000 businesses from 112 different countries.
In the next few years, the technology, telecommunications, and media industries are likely to enhance their product offering using AI. Moreover, with the integration of this technology, they intend to improvise their resource efficiency.
Undoubtedly, AI-based smart solutions will have a huge impact on business scenarios. They can dramatically enhance human experiences by augmenting their capabilities. Through this article, we will explore the relevance of this disruptive technology and how it can be integrated into business to improve their productivity.
1. Reach audience using smart algorithms
Leveraging AI benefits help you target the right audience. Whether you are promoting your business through social media platform, paid search, or emailing the AI enables you to expose your business to your targeted audience. Using AI you can create engaging interactions with your potential consumers. Moreover, with instant profiling, you can directly converse with your audience by spending less on ineffective ads.
Moreover, the Lookalike audience feature of Facebook can help you reach new people who are likely to be interested in your business because they have traits resembling your existing consumers. The feature can effectively help you filter out the audience while driving more conversions. This custom audience lets you assemble a group of people on social networks algorithmically. It identifies the similar characteristics of the consumer audience and based on this it provides you, new customers. Thereby, using this amazing feature you can create a strong consumer base on social media platforms with targeted ads. Deploying the algorithm based advertising techniques you can connect to a considerably large pool of audiences online.
2. Improve customer engagement using bots
Customer service is essential to drive sales. Nurturing customer relationships using consistent support can significantly boost customer satisfaction. And one of the most dynamic ways to enhance customer satisfaction is to use AI-enabled chatbots. This is a popular tool to support and understand customers. A chatbot can respond to customer queries 24 hours a day. It can effectively answer the common queries posed by consumers using the machine learning algorithm.
By 2020 it is expected that around 85% of consumer interactions will become virtual. They will be solely handled by AI-based chatbots which further aid in reducing expenses involved customer support services.
Using chatbot is a huge return on investment and integrating it quite easier than you usually think. Here are some facts that you need to be aware of using chatbots for customer service.
1. Find issues that you need to address using automation. If your customer service staff is frequently posed to resolve the same problems then automating responses to such issues could reduce your staff’s burden. Moreover, it could reduce response time to consumers thereby elevating consumer experience.
2. Similar to the way you monitor your human employee’s performance, you need to monitor your bot’s interactions too. This will help you keep an eye on the credibility of responses and will ensure that your consumers receive the right information as they desire.
3. Synthesize data using smart solutions
Gathering data from different platforms can help you derive essential insights from it. However, to enforce this you can seek the assistance of business management software. The platforms enable you to collect data and integrate it into a cloud-based business dashboard. They allow businesses to automate tasks and reduce potential errors in business activities. Domo is one such notable platform that coordinates with 500 different applications to abstract data and provides visual reports based on data insights. Additionally, the Domo, AI-powered system, Mr. Roboto, processes this data to send custom alerts on discovering trends or any other associated issues.
Combining data synthesis with machine learning can help businesses rectify points that require consideration. It can yield appreciable results and develop solutions that take things a step further.
4. Add voice search to your website
Using voice command for searches has become a popular trend. Today, larger sections of consumers prefer using voice command over the other mediums of search. The subset of AI, natural language processing (NLP) is supporting consumers to avail of information the easiest way. Popular products such as Google Assistant and Amazon Alexa have simplified the process for consumers with a voice command. However, it is fascinating to know that to leverage the benefit of this AI technology you need not break a bank. Rather just optimize your website for voice command based searching:
- Use conversational and direct language.
- Ensure that the information you furnish is correct and easily accessible.
- Reassess and be adaptive as the search engines steadily move towards adopting this technology.
- Remember to incorporate snippets for keywords that are connected with your brand.
The number of voice searches is only likely to witness an upward trend. As stated by Google 2016 report, 20 percent of searches in its app are executed via voice command. This is a significant number thus by simply updating your site for voice feature will enable you to create a strong online presence.
5. Use social listening tools
Social listening and monitoring tools help you view your brand mentions across several platforms. These tools rely on AI technology to track things going online about your brand. The AI algorithms synthesize this information and extract associated feelings from it to gain real-time insight into people’s views. Social listening is an effective tool that can help you stay ahead by collecting consumer insights and handling any fake or bad press about your brand that is likely to bring down its reputability in the market.
Integrating AI into business provides a myriad of benefits. Apart from the aforementioned, there are several other ways that you can use for integrating AI-based smart solutions. However, it is imperative to ensure that your business stays competent enough to handle the upcoming technology trends. To embrace success and exemplary growth down the line resorting to AI solutions is a vital process to be considered by businesses across various segments. Nevertheless, those who fail to switch to this transformation are likely to witness a business downfall.