Artificial intelligence is a topic on everybody’s mind when it comes to the future of basically every industry on Earth. The advancement of technology increased in speed rapidly during the first decades of this century, and it probably won’t slow down. There is already a visible presence of AI in business with bots answering customers’ requests in chat. The advanced tools to analyse the company’s performance are also based on artificial intelligence.
The question is, is artificial intelligence and business a perfect match? Let’s find out.
What is Artificial Intelligence?
Artificial intelligence is a broad term used to describe any kind of computer software that is designed to mimic human-like behaviour and activities. Those activities consist of mostly, the ability to learn, solve problems, and to plan. The concept is widely known as the ability to make machines smart, and perform tasks that typically require human intelligence. These days, you can observe that almost every major tech company has a branch specializing in the research and development of AI, but there are also quite a few smaller businesses, like, that already deliver existing artificial intelligence technologies to a broader audience.
Machine Learning and Deep Learning
There are two main types of artificial intelligence currently being explored by the scientists: machine learning and deep learning.
- Machine learning – designed to be able to process large amounts of data in a short period of time. Usually in the form of algorithms that can “learn” in time and provide better, more precise results. Highly beneficial for any global sales company, as the amount of customer data they need to process is beyond human capability, especially when it comes to the number of specialists on the market and the price for their work.
- Deep learning – is a more specialized part of machine learning, which focuses on neural networks and learning how to engage machines in a nonlinear fashion. Its goal is to be able to analyse multiple factors at once and make quick decisions. This type of AI is used, for example, to design self-driving cars, which would revolutionize the logistics industry, and to detect fraud.
Influence on Big Data Processing
Soon, most of our sales will take place online, which generates an enormous amount of data about your customers and their orders that can and should be analysed in order to identify your target audience, their preferences, and measure their willingness to make a purchase. This is where artificial intelligence comes in and helps upgrade your business and increase its efficiency by processing big data.
AI in Customer Relationship Management
Artificial intelligence is also changing Customer Relationship Management systems at the moment. For software used for CRM to be up to date and accurate at all times it needs help from AI to become an auto-correcting and self-upgrading platform that keeps a high standard of the customer relationship management within your business.
AI truly is changing the way we conduct business today, and it will continue to do so in the future. For now, it seems to be improving processes within companies and helps provide better products and services. It seems like AI and business is a perfect match, all we have to do is wait and see as the relationship between the two grows.