Your business and AI
Your business and AI.
I don’t want to scare you.
But a technology has been seeping its way into your life very quietly for some time, and it has been strongly affecting how you work and do business.
And most organizations aren’t aware of just how widely it’s being used right there, under their noses, at their very own workplace.
The good news?
This technology isn’t in the slightest bit as threatening as people think it is, although it is very new and it’s changing the world faster than any technology has managed to up to this point.
But what’s important is this: If you use it as your business ally, you can literally turn every area of your company upside down, obliterating inefficiency, super optimizing operations, and saving a lot of money.
I am, of course, talking about artificial intelligence.
These days, 80% of executivesbelieve that AI solutions can significantly improve productivity, so I probably don’t need to convince you of its immense power.
So, let’s look at how you can harness that immense power right now.
1. Customer Service
Droves of companies know just how important their customer service is, and how much it can affect their company.
But things can also go wrong very quickly.
The 2016 Microsoft State of Global Customer Service, for example, found that 60% of consumers completely stopped doing business with a brand as a result of just one poor customer service experience.
People don’t like to feel like they’re conversing with an unintelligent machine, waiting on the line, pressing buttons, being transferred multiple times before they reach the expert they need, etc.
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 and allow you to become available on the most popular messaging platforms, including Facebook Messenger, Skype, Slack and WhatsApp.
Why not consider it?
The company is using a fusion of machine learning and behavioral science to analyze millions upon millions of voice calls and improve customer interactions based on the data.
The UK’s National Health System is going to trial an AI-powered chatbot on their 111 non-emergency helpline in North London for 6 months, so its 1.2 million residents can enter their symptoms into the app.
The app will then consult a large medical database and users will receive tailored responses based on the information they’ve entered.
2. Information Technology And Security
The top way businesses are using AI right now is in IT and security.
Around 44% of 835 companies surveyed by Tata Consultancy Services were already using AI to detect and deter security intrusions in 2017.
Forty-one percent are using it to resolve users’ technology problems…
Thirty-four percent to reduce production management work by automating it…
And another 34% are using it to gauge internal compliance for approved technology vectors, notes the Harvard Business Review.
IT consultancy Gartner also predicts that by 2020, at least 75% of security software tools will include predictive and prescriptive analytics based on heuristics, artificial intelligence capabilities or machine learning algorithms.
What’s 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.
IBM estimates Decision Support will create $2 trillion worth of IT spending on top of what they’re already spending by 2025.
Domo is a fast-growing business management software company that has raised over $500 million in funding and has created a dashboard that gathers information to help companies make decisions.
The cloud-based solution can scale with the size of your company, and can be used by teams with as few as 50 members.
There are more than 400 native software connectors that allow Domo to collect data from third-party apps which can then be used to give context to business intelligence.
It’s a good option to consider, wouldn’t you say?
An alternative is Avanade, the solution from a joint venture between Microsoft and Accenture that leverages the Cortana Intelligence Suite and other solutions for predictive analytics and data-based insights on your business.
The insurance company Pacific Specialty tapped the gifts of Avanade to better advise the development of new products by understanding policyholder behavior and trends.