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How Can You Boost Your Business With AI?

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How Can You Boost Your Business With AI?

Artificial intelligence is no longer a distant concept we saw in movies, but it has managed to weave its way into our daily lives. If you are not familiar with how it is already interacting with you, then you may be surprised that countless websites use it for customer service. Additionally, algorithms on popular sites such as YouTube are calculating what to recommend to you using artificial intelligence, too.

These are simple versions of what the tech is capable of, more advanced iterations can be found in the gaming industry. Video games are employing AI that calculates a lot of simultaneous data to shift the gameplay and storyline to suit a specific player’s inclinations.

While some of our favorite games are of the arcade type, like Mister Casino, we are keen to see what gaming and AI coupled together will bring about in the future. It is true, however, that AI can not only make games more exciting, but it is wildly effective for business applications. AI is already being used by many businesses for calculations, predictions, and many other things. We would like to show you how AI can solve business problems and make operations more efficient.

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How Businesses with AI Help Can Become Better

Automated Customer Communication

It is no big secret that a lot of companies have started using artificial intelligence in their customer service department. AI-based chatbots can provide 24/7 customer service support that caters to each customer according to his individual needs. This saves businesses money on employee costs and allows them to provide a highly personalized support system.

Due to natural learning processing, talking to an AI bot feels natural, and one may not even notice it. According to an Oxford study, it looks like a hefty 47% of jobs may be automated by 2033.

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When it comes to business ideas with AI-powered knowledge as a backbone, personalization is a great avenue to take advantage of the technology. These days, there is a lot of information online about everyone who owns a social media account. Companies have been using the information about one’s preferences for their marketing efforts for quite some time now.

When this is coupled with AI, one’s preferences can be calculated and catered to a lot more specifically. This means that ads can be targeted at people who are sure to be interested in a given product, thus improving the click-through rates. This is a big win for anyone who owns a business and wants to market its product as effectively as possible.

Financial Forecasting

One of AI’s greatest strengths is that it can eliminate human error. Especially when dealing with business statistics, AI is sure to outperform any human efforts. This results in increased precision regarding financial forecasts, planning, and allocating budgets. Business decisions using AI can benefit a company by not only calculating budgets but also taking into consideration a plethora of varying data from surveys, trends, and other things to come up with the best business advice possible.

In Conclusion

If you are a business owner and are not yet taking advantage of the artificial intelligence marvelous benefits, you are behind your competition. We hope that this article inspired you to take action, and therefore take your business efforts to the next level. If you have any insights, comments, or opinions on how to start the AI-business integration process effortlessly, please share in the comments below. We are keen to hear what you think!

About The Author
Joshua Sherman is one of the most widely known writers that specialize in technology. He has written many other informative articles, he mostly writes about technology. Apart from being an excellent writer, he loves travelling, playing games, watching TV and meeting new people from anywhere in the world.
Featured Image: Machine learning illustration by alliesinteractive on Post images supplied by the author
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