There are many reasons why AI is on the rise right now. It’s changing the way how humans work, think, and everything in between. It not only makes our lives more convenient it also makes people skill up in their own industry where they require more intellectual capabilities. Sooner than you might imagine most of the small businesses too will be using some kind of AI system. Sure most common AI systems won’t be super complex, it will probably be for chatting with customers or predicting future demand, it will be as common as websites today. Let’s check which are the business cases that are better solved by AI.
These Are The Business Cases That Are Better Solved When Using AI
Having said that again and again we don’t really think you need to be remembered the same old story about how AI is smarter and faster or more accurate. Instead of the same old generic answers, we will exactly discuss the places where and how exactly it helps. We have many subsets or goals of AI already working in many businesses, like NLP for sales, automation for repetitive heavy dangerous tasks like in the automobile industry, or the analytical side of AI for gaining insights and analytical problem-solving. The industries that mostly use this are stated below.
Sales was an industry where no one thought automation was possible but here we are when companies are discussing between human representatives and AI that analyze user behavior and measures whether this user is actually willing to be a customer or not, and only then proceeds to contact the probable customer. It not only saves money from hiring people as a sales executive it also increase conversion rates in less time as there are people who are not going to get converted. An AI bot for sales can be something like a conversion AI which will be more effective than a simple chatbot. Let’s see what more ways Ai can influence sales.
Predicting Demand– Predicting demands is one of the hardest things for sales as there are always too many nuances involved without AI its a quite impossible task for a single person to predict everything properly. It’s a really dangerous problem if the decision-makers get this wrong as there will be a probability of putting in so many resources in the wrong place.
AI can analyze the customer behaviors past interactions and patterns of successful past sales. It also takes into account other nuances like time of the year and current market situations. With all these metrics AI predicts accurately most of the time. Which helps to decide how much resources should be invested.
FInding the quality of a Lead– When high-end expensive products are involved customers often don’t really come back after asking for a quote. It takes a quite lot of time where actual prospects could be converted into customers. AI can identify the customer behavior as we said before which can be used to see whether someone’s prospect is truly worth putting time on or not. In order to measure that the AI algorithm takes into account these three things.
- historical information about a client
- social media postings
- salesperson’s customer interaction history
conversational AI– There are reasons why to choose Conversational AI over a chatbot. An AI-powered smart chatbot that is NLP enabled is called a conversational AI it’s smart enough to understand human conversation not just read lines from pre-defined scripts. It can research a bit about your customer and can send tailored customized messages that which they are more likely to get converted. With the conversion AI, your customers also won’t have any problem connecting to you at any time. As AI won’t need rest. So sales is a business cases that are better solved by AI.
As one of the prominent companies for Ai Development. We at Kotai Electronics have implemented Ai in our systems to try and test before providing services to anyone. We have realized how much beneficial it was for us. Here is how they helped us.
Faster And Safer – As an IT company, we are always required to be top-notch in terms of cybersecurity and software maintenance. Implementing AI helped us automate those tasks to save a lot of time. It can detect threats faster than humans which have helped us a lot. It’s one reason to choose AI over humans to work things out properly.
Smoother Process-We has also seen improvements in our team the AI keeps things running smoothly without issues. Things like data transferring, keeping the records, and tracking our improvements as an organization. As it has helped us believe it can help any other organization who has to deal with lots of machines. It is another business cases that are better solved by AI.
For our next business case, we have Digital Marketing. AI can understand how users feel based on their actions on the internet. We all know speed and convenience make groundbreaking changes on the internet and most of the modern marketing goes on the Internet. Websites are the best channels of this era for marketing. With AI, marketers can acquire a deeper insight into their target consumers. The data obtained can then be utilized to increase conversions while also reducing marketing teams’ workload.
Better Customer Experience – Users’ preference depends on that person’s demographics, location, and choice of device. If someone spends more time on a certain website that suggests he is actually having a great experience there. Based on hundreds of metrics of thousands of website on the internet AI search for what metrics certain websites have that grabs attention for the longest amount of time. After that AI suggests what should a website or eCommerce portal look like to get optimum results.
Finding Opportunities – People nowadays post every detail of themselves on the internet. For example when someone is willing to buy something that person is most likely to search about that on the internet or share photos or videos about social media. Modern AI applications come with image recognition systems to find these kinds of images on the internet and gain insights if someone is interested in certain products or services or not. It can also be useful to get insights on how some products are doing which will be beneficial to create newer better products.
Market Research– All the modern keyword tools use AI to find different data around the internet. For example, the “search volume” and “Keyword difficulty” you see are the result of AI algorithms. Machine Learning goes hand in hand with AI to know about the searcher’s intent which helps understand users better. AI also helps find out the SEO metrics that help the top articles rank well. All of these are extremely beneficial for market research. So it’s another So it’s one of the business cases that are better solved by AI.
Even if your product is the very best in the market if you are not providing a sophisticated after-sales service or customer support your business is going to suffer more in the long run. AI can help swiftly solve issues and scale businesses easily let’s see how?
Conversational AI has many jobs– As a conversation, AI can truly understand what people are saying it is obvious it can help customer queries and solve problems. AI enables a seamless amazing experience that your customers enjoy and will never think of any other competitor again.
Voice Bot– After chatbot voice, bots would be the next thing. It won’t be too hard to imagine. For the business case of customer care, Artificial Intelligence voice bots are capable of listening to the caller, interpreting their mood, and detecting the seriousness of the situation but like traditional chatbots, they can be programmed to do certain things when they see certain questions. So it’s a business cases that are better solved by AI
Keeping and managing accounts requires enormous amounts of calculations that can only be done by qualified professionals. Its no longer true. AI uses algorithms that work like a hot knife through knife for accounts management business cases. As algorithms are the part where AI shines.
Eliminating Repetitive tasks– Repetitive tasks like recording data, categorizing, editing, or correcting requires a lot of time. AI can do all of these tasks with much less error than a human. This way, employees are saved from mental overload and can focus their work on other ongoing tasks.
Calculating Payroll– This business case will most probably never be fully automated but this does not mean AI won’t influence this at all. AI is likely to alter the future of payroll. As this thing will have nuances and many more causes and effects to analyze things on. As it can help companies monetarily, like a lot they are increasingly eager to invest in advanced AI-supported payroll systems. So it’s a business cases that are better solved by AI
Being the first one to try something is always scary especially when there is a lot of money involved but AI is tried and tested like most of the reliable technologies today. For your peace, you are not the first one to implement that into your system. Many small to medium business has already implemented that. If you are thinking about it most probably your competitors are thinking about it to. IF you let others implement AI in their systems before you. you will probably lose a lot of business opportunities. So these are the business cases that are better solved by AI. Hope you liked it, Thank You.