Top Examples of Artificial Intelligence in Business

By Implementing AI in business operations, companies can benefit from increased forecasting accuracy, automated recruitment, better customer communications, and enhanced cybersecurity. This technology is not all about tech organizations — industries like marketing and human resources can incorporate AI in their strategies too. Let’s find out how AI helps businesses achieve their goals and deliver meaningful results: Sales After embracing AI in your sales processes, you can increase leads by an average of 50%. AI can help your team automate mundane tasks like meeting scheduling and let specialists concentrate on closing deals. Here are some examples of artificial intelligence in sales: Enhanced customer support. AI-powered chatbots can boost sales by 67%, send your prospects customized emails, and resolve simple queries without human involvement. Sales forecasting. Analyzing customer interactions and historical data, AI algorithms will provide precise predictions about market demand, new prospects to reach out to later, and deals that are most likely to close. Personalized offers. With AI, you can analyze your customers’ buying behavior and search histories to show them tailored recommendations and products similar to what they are looking for. Marketing Marketers can use AI to get more valuable insights about their target audiences, attract relevant leads, and skyrocket conversion rates. Over 60% of customers are willing to use AI for better interaction with brands, so it’s high time marketers implemented this technology. Take a look at the most significant examples of artificial intelligence in marketing: Effective audience analysis. Analyzing your customers’ preferences, pain points, feedback, and credit scores, you can always target them with gripping ads, build a solid emotional connection, and engage them to recommend your brand to others. Your marketing strategies will become more accurate and efficient. Personalized website experience. Using AI, you can investigate your users’ locations, devices, buying history, and interactions with your website to detect patterns and provide them with the most relevant products, notifications, and content. Increased campaign ROI. Marketers can gain the most meaningful results from data and benefit from them in real-time. AI is a fantastic tool for detecting the most relevant ad placements, finding marketing channels where users are active, and obtaining detailed reports to enhance future campaigns. Accounting and Finance Almost 80% of business owners claim that AI-based accounting software is one of the critical factors in enhancing their organization’s productivity. Artificial intelligence helps accountants reveal hidden patterns and automate repetitive tasks like categorizing transactions by transforming the financial landscape. That’s how accountants can benefit from implementing AI: Eliminate time-consuming tasks. Experts can stop spending their resources evaluating expense reports, analyzing documents, and reconciling accounts. Thus, accountants can focus on more strategic activities like competitive position monitoring and customer profitability analysis. Predictive analytics. It will help specialists anticipate possible outcomes, make accurate predictions, and develop precise demand planning. Predictive analytics is also an excellent tool for providing clients with solid financial advice and setting up accurately estimated budgets. Human Resources With countless resumes and data to analyze, HR managers can use AI to spot the perfect applicants much faster. Here are some examples of what HR specialists can achieve using AI: Choose better candidates. AI-powered algorithms will analyze applicants’ job experience, soft and hard skills, interests, and career goals to identify a pool of ideal candidates. Eliminate hiring discrimination. Computers and algorithms are impartial, making them a perfect match for unbiased recruitment. With such unprejudiced shortlists of applicants, HR managers will drive diversity and inclusion, make more fair decisions, and find experts with the right competencies faster. IT Operations Applying AI to IT operations and tasks can help teams work more efficiently and detect issues before they affect users. That’s how IT businesses can benefit from using AI: Reduced operating costs. AI-powered software maintenance tools can help specialists spot and eliminate any threats before they do real damage. Without slow and time-consuming manual management, it’s easier to fix bugs in the initial stages and reduce operating costs. Faster digital transformation. Whether you want to move from on-premise to cloud computing or need to migrate from a monolith architecture to microservices, AI will help you manage your data and reduce operational friction. Contact Centers Contact centers need reliable AI solutions to understand their leads and clients, resolve urgent queries, and boost loyalty when dealing with a vast amount of data. Here are some ways to benefit from adopting AI: Prioritize queries. With tons of requests, it can be challenging for support reps to detect the most urgent ones and assist customers quickly. AI algorithms can recognize sentences with a top-priority indicator that requires an immediate response. It can be phrases like “I want to stop cooperating with your company because…”, “I need to get this order today”, or “I want to make a complaint”. Reach out to relevant leads. Trying to contact people that are not interested in your services can be frustrating. AI models will analyze your target audience and help you find high-quality prospects that are more likely to interact with you. You can also benefit from chatbots to present personalized offers and answer questions.

How AI Helps Businesses Grow

Besides data analytics and accurate forecasting, AI can help companies scale their operations in various ways. Now that you understand how different niches can benefit from AI, let’s find out how you can skyrocket your business with this technology. Strong Competitive Intelligence Competitive intelligence will help you detect relevant rivals and gather information about their strengths and weaknesses. You can also track their actions like marketing campaigns, significant events, and product launches. It will enable you to find out what your target audience is saying about your competitors, use their flaws to your advantage, and spot new marketing channels. Price Optimization AI helps businesses define optimal prices to remain competitive and keep customers loyal. Factors like brand awareness, market demand, and seasons affect your price, so it’s crucial to adapt it on the fly according to real-time data. Great In-Store Experience If you have both online and physical shops, you have a chance to take the regular in-store experience to new heights. AI models can analyze your consumers' data and let you know about their last visits and favorite products. It will help you provide them with personalized discounts and recommendations, loyalty programs, and digital displays with product information for more thoughtful decisions.

Artificial Intelligence

Don’t miss a thing about one of the most promising areas in the world of tech. Machines’ ability to simulate human intelligence and perform certain tasks that usually require human efforts affects businesses and everyday lives. Our AI blog provides the most relevant and accurate AI technology news and trends.

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