Artificial Intelligence Trends every business must now
Artificial Intelligence, often referred to as AI, is here to stay, and by opening doors to innumerable opportunities, it has proved itself as a game-changer for businesses worldwide.
Though Artificial Intelligence might not have poked around in your business the industry just yet, that doesn’t change the fact that its innovative technology that can help businesses unload many arduous responsibilities of your shoulders.
“In fact, a recent Deloitte study revealed that 82% of Businesses that invested in AI last year have gained a significant amount of financial return on their investments”
To put it simply, Artificial Intelligence is driving revolutions in daily business operations in a way that never witnessed before. With that being said, let’s review the top 11 Artificial Intelligence Trends that every business must know and watch out for in 2019.
Since AI is popular not just among businesses but consumers as well, it’s definitely going to get even more aggressive in the near future. For example, more businesses from worldwide will adopt AI in order to enhance and deliver a more personalized user experience.
To be specific, AI adoption will completely eliminate the need to ask name, email address, or contact information, and this data the collection will be handled automatically through AI.
Today, businesses have all the data in the world but most of them don’t have a clue what to do with it or how to use insights from the data. This is where Artificial Intelligence (AI) comes to the picture. Artificial Intelligence can help businesses better organize, categorize, and pattern their data, which will ultimately provide better insights into their business.
As I mentioned just above, AI can not only improve the analytics results and provide better data insights, but it can also make it easily accessible and cost-effective.
For instance, in order to harness the power of data, a business will need to hire an in-house, full-time data scientist. But, AI eliminates this need to hire a specific person by adopting AI-powered analytics solutions.
AI allows businesses to create intelligent chatbots which could be easily deployed to deliver 24/7 customer support.
As a result, businesses, by using Artificial Intelligence-powered chatbots, can gather more valuable customer data, which can be later used in optimizing customer experience, creating feedback loops, and a lot more.
Simply put, Artificial Intelligence can help in providing the greatest customer experience by enabling businesses to be accessible 24/7.
Digital marketing has been one of the biggest benefactors of Artificial Intelligence technology. For example, AI played an important role in transforming the primitive forms created for digital marketing purpose into a much more calculated source of propagation.
“Furthermore, Google’s recent investment into its AI algorithms has significantly improved digital marketing protocols in both, organic as well as paid marketing”
For instance, Google AdWords Manager no longer requires a human to manage paid campaigns. Instead, Google AdWords Manager is now capable of generating ads by itself without any need for interference.
As a result, it has greatly helped businesses establishing their digital footprint on the internet.
By the end of this year, major chip manufacturers including Intel, AMD, NVIDIA, and Qualcomm will ship AI-enabled chips, which will execute complex mathematical computation tasks much faster.
These chips, when introduced, will greatly contribute towards optimizing functionalities like natural language processing, computer vision, and speech recognition to name just a few.
For businesses, these AI-enabled chips will significantly improve performance and reduce workloads off humans.
AI adoption can help businesses interpret customer data and repetitive patterns to enable them in creating forecasts and strategies to generate high-quality products.
In fact, AI will not only help to create more personalized and customer-driven strategies, but it will also help businesses in increasing their revenues by enticing more customers to avail their services and products.
In case you didn’t know, brands such as CBS, USA Today, and Hearst has already implemented AI in their businesses to generate content.
“There is an AI-powered SaaS platform called Wibbitz that allows publishers to turn their written content into animated video content through AI technology”
Before Wibbitz, businesses had to invest in additional manpower for creating video content for their website as well as social media. But now, AI tools like Wibbitz are allowing businesses to create compelling video content within a matter of minutes and with a lot fewer costs.
Though AI already helps businesses in predicting their customers’ behavior to some level, this ability will get a notable boost in the near future.
In fact, more and more businesses will start adopting Artificial Intelligence to detect if a visitor is willing to purchase any of their product, seeking customer support, or even thinking about browsing their competitors’ products before they actually make the move.
This will greatly help businesses to close more deal and attract & retain customers.
In today’s tech-savvy world, businesses need to continuously adapt emerging technologies to evolve their operations and stand-out in the market. And with Artificial Intelligence already being adopted so rapidly, it is only going to become a critical requirement in the world of business.
Atman Rathod is the Co-founder at CMARIX TechnoLabs Pvt. Ltd., a leading web and mobile app development company with 13+ years of experience. He loves to write about technology, startups, entrepreneurship, and business.
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