Are you an entrepreneur? You need a chatbot. Aren’t you a business person? You should become one because nothing can be more pleasing than doing something you love every day and getting paid for it. Don’t worry, this article isn’t full of tips and pieces of advice. There are some ideas and news about AI you need to hear. Besides, here you can find some interesting facts about the present situation of using artificial intelligence in business, and what’s more importantly, in future.
If you are into AI and all those trendy technologies development news, you know that artificial intelligence is already used in business. The thing is that it doesn’t look like a scene from a movie. The examples of artificial intelligence used in business are simple and more real-life.
Use AI for analyzing gigabytes of data
As analyst firm Gartner predicts, in 2016 more than $2 billion will be spent in operations performed by mobile digital assistants. Besides, 60% of sales teams will increase the use of analytics. However, there is no need to overcomplicate. When there are so many AIs that can analyze data, why shouldn’t one use them? Let’s have a look at some examples.
Airbnb, an online marketplace allowing clients to rent vacation homes, uses a machine learning package built for humans to show hosts the predicted demand and their chances to get a booking. Developers have paid attention to such factors as demand, a listing’s location, and its quality. Analyzing different types of data and parameters, Aerosolve provides hosts with a dashboard that shows them the probability to get a booking at a certain price.
Developers achieved that by building a package that exposes difficult for understanding data as models that are easy to understand. This new pricing technology provides Airbnb with more hosts and stays. This is one of the most successful examples of using artificial intelligence in the business information system.
Amazon Machine Learning
Another awesome artificial intelligence example is a new AWS service that helps use gigabytes of data for improving the quality of decisions. Just imagine that you have to analyze all the information about customer purchase, email responses, site navigation trails, etc. Thinking about that I see a tired person sitting at the table in a room full of paperwork piles. However, only a professional data scientist can analyze this data correctly. Or such AI as Amazon Machine service.
Amazon Machine Learning is a service that makes predictions on the basis of models formed from your data. This helps not only to see the statistics. It’s also beneficial for improving the quality of decisions you make and creating a storage infrastructure for your business.
Expert Personal Shopper by Fluid
Fluid, the digital commerce technology agency and software solutions provider, has created Expert Personal Shopper for making shopping with The North Face better. Fluid’s team has created an artificially intelligent digital commerce platform that uses a dialogue-based approach for helping shoppers make the right choice. XPS asks several answers and then interprets them using IBM Watson abilities to apply logical reasoning.
As a result, this artificial intelligence evaluates all answers and provides shoppers with product and content recommendations. That looks like getting recommendations from a professional experienced shopping assistant in a real shop. Such personalized conversational commerce brings awesome results. During the first week after beta version launch, 55,000 total sessions were made. 75% of users stated that they would use this XPS again.
I’ve used the Expert Personal Shopper myself and I really liked. After answering several simple questions, the service showed 6 nice jackets that met my requirements. Instead of wasting a lot of time trying to find a jacket that will suit me and reading its specifications, I’ve got the needed information in less than 2 minutes. Thanks, AI!
Use AI for customer service
Another area for using artificial intelligence technologies in business is the customer service. Such AI can gather information, provide answers, help choose products, etc. This type of artificial intelligence may also be called chatbots, as they help customers by simply chatting with them. On one hand, you may be afraid that the current state of chatbots development isn’t the best one. These chatbots may still make funny mistakes, misinterpret messages, etc. On the other hand, chatbot services are the key development areas for such giant companies as Facebook, Google, Microsoft, Kik, and WeChat.
There is nothing weird. Such progress in the use of artificial intelligence in business will drastically change the way people interact with technology and the whole digital world. Chatbots are going to replace common interfaces on all devices. There are several reasons for that.
Let customers get quick answers
If your site has got a contact form, you know how many problems are connected with it. Your team is definitely fighting for better conversion rates, creating a simpler and more interactive contact form. However, they don’t work properly all the time. As chatbots are a new technology, almost all customers are interested in them. Clients will visit your site, start interacting with a chatbot, and then share their contacts.
Moreover, as chatbots are artificial intelligence, not humans, they can’t forget information. After providing their contacts, site users will always get responses. The main benefit of this is that you don’t lose the connection with a client. When customers get the answer right away, they don’t have time to review the relevance of their requests. That’s why using artificial intelligence for business is a great way to attract more clients and continue dialogues with them.
Change the purchasing experience
Customers want communication to be less text-based and more life-like. Using interesting language, pictures, and emojis, chatbots will help clients make their attitude to a company more friendly. This personalized marketing will improve your relationships with clients. It will also provide sales departments with information on how to make campaigns even more effective.
Make your business more competitive
With chatbots and other AI, SMEs get access to such resources as big data analytics, cloud computing, video conferencing, etc. Besides, companies may create new assistant roles and free up some personnel. When chatbots carry out some tasks, your personnel may work on developing business strategies. This will also accelerate the growth rates of a company and make financial management easier.
If you are searching for more awesome artificial intelligence business ideas, check out our blog more often. We can provide you with tips and pieces of advice on how to use AI in business or any other industry. Just contact us! Our experts are always ready to help.
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