The advancement in the digital world is nothing new. The only difference is this fourth industrial revolution is adding human intelligence in a machine. Most of the works are accomplished with the help of artificial intelligence, machine learning, IoT and deep learning like technologies.
The global AI market is expected to reach 37,987 million USD by the end of 2022. In 2018, this market worth 7,35 billion USD. An Introduction to AI in modern businesses empowers the use of intelligent moves such as pattern analysis, prediction modeling, classification. Let’s explore how this technology is transforming this era:
Providing a Personalized Experience:
Well, you may have seen that an apple user never goes for any other product after using it once. Why is that? Because Apple completely satisfies their customers by providing a personalized experience in their service.
From an awesome user interface to the simple experience. Similarly, Google used the customer’s data such as from behavior, past search, shopping, or any other historical internet experience. Thus, they can provide an awesome experience to the user making their internet usage journey incredible.
Healthcare: A Glimpse of AI in its Transformation
The healthcare sector has seen the potential of AI leveraging doctors and patient in various ways. Doctors are using Electronic Health Records (EHRs) to keep an eye on their patient’s activity so that they can avail a better cure to them.
They can check which patient is taking medicine and their response through this recorded information. One good thing about EHR, with it, doctor’s don’t require to manage thousands of pages from a patient’s past record.
The visualized information contains each data of their need to make better decisions for treatment. This EHR is powered by ML algorithms and big data analytics to crunch and analyze the stored information.
IBM’s Watson computer is another good example of AI used in the healthcare industry. Researchers and doctors are using this advanced and intelligent system for diagnosis, finding the cure for the most critical diseases like cancer etc.
This machine leverages the power of valuable data collected from various sources such as past medical research, patients activity or other historical data collected from real-world experimentation or cure. It analyses this information and provides valuable insights so that doctors can make accurate decisions in all treatment phases.
“A report reveals that 20 percent of the workforce will be dependent upon neural network algorithms by the end of 2020.”
Modern Marketing leveraging AI:
With advancement in cloud computing more and more innovative ideas are developed in the form of an enterprise or web app. These modern applications are powered by complex machine learning and artificial intelligence algorithms to drive the soul of modern marketing.
You will get advanced project planning to content curation app for your business. Even, Google’s Rank Brain, an algorithm for distinguishing various websites content relevancy to decide their ranking over the google search engine result page.
In the marketing sector, the role of AI has increased drastically. Modern platforms powered by AI can check the relevancy of your content and make corrections automatically.
The application like salesforce Eienstien analytics helps a business to generate maximized revenue with the power of data. Modern CRM is managed through these kinds of intelligent resources designed to assist sales and marketing teams.
You will have all the complete information of the lead before you make a call for offering your service or product. This business intelligence platform will help you to close the deal effectively.
“By 2022, almost 85 percent of the customer interaction will be based on AI-based resources.”
Automated Chatbots for Assistance:
Another good example of AI is trending voice and text-based chatbots. These intelligent bots are capable of managing the whole consumer service department of a business. Chatbots are powered by machine learning and conversational datasets to assist customers with their queries.
They also inherit the recommendation engine, pattern analysis, prediction features so that they can provide the most accurate outcome to a user. The most advanced feature of a chatbot allows them to learn from past experiences. A chatbot can help the user by suggesting best services or products of their need.
These smart machines are capable of serving human 24/7. In traditional customer support, it requires a large investment in manpower, data, infrastructure etc., for providing assistance to the consumers. But now, it has become easy and faster to develop cool AI applications or using them for business.
Thanks to AI for bringing human one step closer towards the accuracy. Maybe one fine day we will able to explore one percent of mysterious Universe with this technology.