According to recent studies, the world market for Artificial Intelligence will have a value of almost 60,000 million dollars by 20261. This technology is radically changing the way we work and do business. For companies, the correct use of Artificial Intelligence can mean an increase in sales, substantially improving each of the company’s areas, eradicating inefficiency, optimizing operations and saving money.
Currently, 80% of executives2 think that AI solutions can improve their productivity. Given these data, how can businesses exploit their potential today? Adext, presents 7 business benefits that these technologies can currently bring to business:
1) Customer Service: companies know just how important their customer service is, and how much it can affect their company. Users don’t like to feel like they’re talking to an unintelligent machine, waiting on the line, pressing buttons or being transferred multiple times before they reach the expert they need. Chatbots are the answer. They can begin reading and analyzing customer data from the initial touch point and provide smart insights on how to effectively assist your customer.
Solutions like Nano Rep allow you to integrate your customer support with resources like Zendesk, Magneto and Salesforce, to become available on the most popular messaging platforms, including Facebook Messenger, Skype, Slack and WhatsApp.
2) Information Technology and Security: IT consultancy Gartner predicts that by 20203, at least 75% of security software tools will include predictive and prescriptive analytics based on heuristics, artificial intelligence capabilities or machine learning algorithms. But, what do we have available right now?
Cylance offers cyber security products and services that proactively prevent, rather than reactively detect, the execution of advanced persistent threats and malware. This company is the choice of Fortune 100 organizations and government institutions.
HANA is SAP’s cloud platform and machine learning solution, which companies are using to manage databases of information they have collected, such as sales transactions or customer info, relational databases, apps and other sources.
3) Business Management: From scheduling conferences and team meetings to programming business trips and decision-making support, AI can help with business management activities.
4) Finance and Accounting: Accenture predicts that 80%4 of accounting and finance tasks will be delivered with automation in the next few years. The tools allow them to interrogate, assess and challenge the predictions that underpin the valuation of assets on their clients’ balance sheets.
KPMG also has an alliance with IBM’s cognitive computer, Watson, which can read thousands of pages of contracts or agreements and summarize them almost instantly, based on your criteria regarding what is and isn’t relevant for your business.
5) Human Resources: Professionals in the HR area invest a lot of time in the activities involved in the recruitment processes: interviewing, hiring, etc. So, it is understandable that they love the idea of applying IA to this type of processes.
Restless Bandit is a SaaS product that automates the tasks of screening applications, finding matches, reaching out to them and scheduling face-to-face interviews to greatly reduce the work involved in bringing a good potential candidate into the office.
6) Technical Procedures Across Multiple Departments: AI is also perfectly set up to increase the efficiency of technical procedures. Companies are busy implementing it all over the world.
Japanese insurance firm Fukoku Mutual Life Insurance decided to replace its 34-staff member workforce with IBM’s Watson Explorer AI5. The artificial intelligence system calculates insurance policy payouts by analyzing medical certificates, surgery and procedure data, as well as hospital stays.
7) Marketing & Sales: We’re left with one of the most important categories for the future of your business: marketing and sales. Until recently, you couldn’t leverage AI to revolutionize your marketing and sales departments, despite the fact that both have been moving over to digital at lightning speeds. Now you can.
Adext is a smart bot and the first ever AI solution that can launch, manage and optimize your ad campaigns on Google, Facebook, Instagram, and lots of other websites related to your product or service through AdWords Remarketing. And it does it affordably, to help struggling-SMBs all over the world to become successful.