Artificial Intelligence (AI) is changing consumer experiences and looking into the future, AI will enable human-machine interactions in productive ways. The ability of AI to understand the environment, process information, and respond via smart decisions makes it a valuable technology.
The Natural Language Processing and Machine Learning tools enable the customer experience by recommending products or services with Netflix a good example here. Netflix uses Machine Learning to explore customer viewing habits and recommending movies.
Customer Relationship Management
AirBnb is using data analytics and machine learning for customer relationship management in the hospitality industry. Customer data in the AirBnb database undergoes processing where AI systems offer information about current customer trends which includes the complaints, problem areas, and assisting service agents to make good choices.
Customers who miss booking require changes and machine learning algorithms identify them and communicate with service agents. This reduces customer complaints and retains them.
The process of acquiring, processing, and implementing data information makes the difference between a competitive and less competitive business. One of the largest ecommerce platform, Amazon consists of strong analytics systems in its retail strategy to assist the company manage operations and offer valuable decisions.
Team Productivity and HR Systems
Corporate organizations use different set of teams to achieve objectives and AI makes the process smooth by communicating data to teams. Knotel deploys machine learning algorithms in their workspace modeling to help companies boost productivity. As per the report by Knotel, machine learning assists the company to measure and predict workspaces models based on the current market conditions.
Artificial Intelligence (AI) assists in generating solutions to problems by using data to reason and recommend decisions. The expert software utilizes the power of machine learning algorithms for decision making by assisting enterprises to explore challenges and generate creative solutions. In today’s scenario, humans handle multiple roles and using machines in solving problems increases the competitive ability and accuracy.
Market Intelligent Systems
The survival of companies in the next decade will depend on automation and the adoption of technologies such as AI and ML. The organization faces challenges in predicting market trends and results in losses because of poor decisions. Facebook’s adoption of AI makes the social media channel competitive in this area as the company maps consumer patterns in real time.
Optimizing manufacturing processes
By the end of 2022, it is expected that there will be a number of machine types supported by the AI engines running machine learning algorithms capable of autonomously improving the efficiency of the manufacturing process. AI systems will help to monitor the quantities used, temperatures, cycle times, errors, lead times, and downtime to optimize the production runs.
The first step in AI deployment will be an “operator assist” mode, where the AI will run in the background and will even suggest answers to the operator. AI systems will use the operators with the final decisions to learn how the human mind performs so that they can be deployed in an “operator replace” mode. In the near future, AI will enable us to transform the data into intelligence in a vendor-agnostic environment where all the machines speak the same language, increasing production efficiency from machine to machine across the shop floor.
With competition among businesses in the market space becoming nowadays tougher now, common sense and experience are no longer enough to analyze risks and consequences of critical business choices. The use of advanced AI techniques is required in order to make accurate decisions for increased business growth.
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(The images used in the post are extracted from unsplash)