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How Does AI-Powered Solutions Impact Diverse Segments Of Your Business?

July, 2018

Impact of AI on Business

The current global landscape of enterprise mobility and automation technology companies is growing increasingly rich, and much of its success is attributed to the great disruption of artificial intelligence technologies. These enterprise technology solutions providers build powerful tools to empower existing workforce, harness resources and transform various business process for enhanced growth and increased ROI. Like Saleforce CRM software does for sales professionals, artificial intelligence is carving a paradigm shift for many companies across myriad industries on Earth.

By producing seamless connectivity and effortless automation, AI-enabled algorithms can step beyond the CRM’s inherent capabilities and deliver out-of-the-box solutions for assorted segments of your enterprise. Companies that capitalize massively on the combination of intelligent services such as Machine Learning, data science and predictive analytics are likely to be among those with superior customer service and accelerated growth prospects.

In this blog, we will penetrate more into how cutting-edge AI-powered platforms can improve the technology landscape for companies and impact its diverse segments including operating models and long-standing business practices.

The general impact of intelligent technologies

With the help of technology that constantly experiences frequent updates and advancements, businesses can alter the status quo of their basic model and harness resources they need to overcome toughest challenges. For instance, sales professionals who use CRM for entering contacts and tracking lead progress, acquisition rate and relevant metrics can integrate AI-powered system with Customer Relation Management. The results are:

  • Tasks and process automation
  • Better lead generation management
  • Insightful real-time updates and system alerts
  • Predictive data-driven sales management
  • Enhanced customer retention and acquisition
  • Increased efficiency and productivity
  • Faster turnaround time

The biggest advantage of using combination of intelligent services is getting insight into precise customer behavior and profile based on which sales and marketing executives can take faster and better decisions. The technology suite for such high-end solutions usually include:

  • Data Science
  • Machine learning
  • Artificial Intelligence
  • NLP (Natural Language Processing)
  • NLU (Natural Language Understanding)

Not only do you automate mundane tasks for people in charge, but you also predict future market trends which goes a long way in determining precise demand and customizing most desired products and services. Due to its scalable potential, more and more startups are coming to the fore to show their interest in flexible, scalable and business-specific solutions based on intelligent technologies.

Reimagined business processes for faster turnaround time

There is no denial that AI acts as a mighty catalyst to business innovation and research, developing fundamental shifts in almost every present-day industry. The business implications proposed by these technologies involve certain complexity, but their ability to remodel the entire technical sphere from scratch means a lot to any business entity. For instance, retailer industry can thrive on current digital disruptions and create a demand-sensing forecast system of artificial intelligence and machine learning. AI solution providers can identify high-impact digital areas lying in core business service and help retail channels build a viable and expansive frameworks with minimum risk potential. The intelligent system can ‘cost-effectively’ help forecast the upcoming demand curve and predict material prices based on real-time customer data. The entire process reduces time taken to accomplish the goal.

Faster decision making and execution

Marketing experts really want to promote business services that actually help reach and touch maximum customers without missing the target market trends. Through predictive capability of AI and deep machine learning platforms, businesses are enabled with unique ability to tap into software ecosystem to deliver expansive solutions that directly incorporate generic as well as specific interests of customers. Using an interactive and automated intelligence, companies gain access to massive data pile which in turn results in flawless decision making and perfect execution of customer persuasion strategy.

Dynamic Business Intelligence

Much of predictive analytics work depends on the language processing units of Artificial Intelligence called NLP and NLU (Natural Language Understanding). It can be used to extract and process valuable information from various sources, channels and digital footprints such as integrated sales and marketing tools, business applications, workflows, social media engagements and emailers, etc. The entire information architecture is brought together from various points for further analysis. Several companies have already built scalable intelligent platforms for producing business intelligence. information management some of which are Paxata, Trifacta, Alation. Platforms like Narrative Science and Yseop can even embarked on delivering enterprise-friendly services like narrative generation.

Customer Service and Support

Customer care and service area is the one where AI can contribute its intelligence, and businesses around the globe have already implemented the idea of voiceless as well voice-enabled chatbot service. Enterprise technology specialists have critically visualized this area of assistance to deliver solutions powered by artificial intelligence. In order to enable automated customer service operations, DigitalGenius leverages AI’s capabilities to scour through the loads of customer-oriented information. There are many self-service support platforms developed by Hospitality, Search Engine and Healthcare industries that play virtual agents processing the data in natural language. When it comes to preparing organized view of customer feedback to create better understanding of customers’ tastes, Luminoso has developed a strong, reliable AI-powered system.

Talent Recruitment Management

Human resource is the critical area that helps companies discover exceptional and most qualified talents in the industry. However, as the employee lifecycle and tenure grows lean, the recruitment department has to pull off enormous efforts to source and qualify the best from the vast pool of candidates, which is a big challenge. For any company. There is also the question of engaging the hires for a long time. Thankfully, companies like Entelo have created a disruptive talent discovery system to find the most suitable candidates. There are other companies, too, emerging to disrupt the domain with unique AI solutions that include effective employee engagement and retention strategies.

Enhanced B2B and B2C Sales and Marketing

Despite the fact that human creativity and competency is irreplaceable in the area of marketing and sales, artificial intelligence can surprisingly take over this critical business section and help you understand customer behavior with unquestionable accuracy.

For instance, Fusemachines and AI-enabled smart sales assistant Tact have attempted to transform the way customer data is analyzed to forecast the future demand. Many globally illustrious brands have already implemented and enviously benefited from the solution of voice assistants and chatbots used to harness the marketing gear.

For instance, Nordstrom has created a digital tool called Style Boards to assist sales people in tailoring personalized recommendations for existing and prospect customers which adds immense value to their promo offers.

On the other hand, world-famous sports brand Nike turns to an AI system known as ‘Nike On Demand’ to encourage people to focus on their health by sending nice motivation messages while generating delightful deals and promo codes for its customers.

Back office and financial operations

Back office operations and accounting are certain roles that are in desperate need for digital automation. Despite the fact that these are essential components of any company’s business model, it is true that paperwork has to be made digital and automated in order to minimize human involvement. With this idea as a main focus, several Artificial Intelligence companies have emerged to offer robust solutions that incorporate back office and financial operations. One of them is HyperScience that had introduced a solid AI-enabled system in 2016 that automates the majority of back office operations including form processing and data extraction. In last couple of years, a bunch of InsurTech companies have also capitalized on deep learning to launch unique, artificially intelligent platforms to bring down fraud issues and relive investigator teams from tedious hassle.

Conclusion

There would always be competition in your prime niche and it is crucial to beat the big names by treating your customers with irresistible services and rewarding offers. For this to come true, you must save time spent on date entry or ruffling through congested online space for getting those good old leads. This is where you can experiments a little with AI-powered tools and intelligent machines. Whether or not AI will snatch your jobs is a topic of another debate, but AI along with machine learning services does furnish competitive capabilities for your business and deliver value-added services while enhancing it with intelligent automation.

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