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Should A.I Be Implemented In Business?

Should A.I Be Used In Business?

Should A.I Be Implemented In Business?

Implementing AI (artificial intelligence) in your business infrastructure may not be high on your list of priorities. Or maybe you’ve added AI software to your marketing or customer service and are still gauging its effectiveness. You might even be using it through third-party solutions without being aware of it. But is that enough? Just how much AI do you need?

AI and Data

Artificial intelligence is most commonly seen as the future of data processing. It’s ideal for handling huge datasets, and learning from the context in which it’s used to adapt to varied types of information and a range of uses. It can be trained to follow very complex algorithms. For example, AI has led to striking improvements in translation software with its ability to recognize relationships between seemingly random words.

AI can respond to changing input faster than even experienced human employees. But the true advantage of AI is that it invokes machine learning. It becomes more efficient the more it performs a certain task.

Smarter Interfaces

The benefits that AI can therefore bring to various aspects of your business are almost unlimited. It’s already being widely used behind business analytics and customer service, particularly modern solutions like the wave of chatbots that have appeared.

AI solutions can carry on conversations in both text and voice with hundreds of simultaneous users. This is a huge expense and time saver that also improves the customer experience. It similarly can be used on social media, or to provide a user-friendly resource for both on-site and remote teams that need to find information quickly.

Growing Number of AI Applications

As more companies see the benefits of machine learning and automation, software vendors are stepping up progress to meet the demand and stay competitive. Along with data and communications, AI provides your company the opportunity to combine better data processing and services with any computer-based function you have.

Marketing

AI’s capabilities allow you to understand your target market better, down to any segment you care to address. But you can also personalize customer interactions.

Many retailers are developing the use of “personal shoppers” in the form of AI software bots. There are also robust solutions for email campaigns, social media tracking, and more. More marketing is being done automatically, at digital speeds.

Key Performance Indicators

These metrics for measuring success can be instrumental in continuous improvements in any area of business. Manufacturing and transportation companies, sales divisions, public utilities, and essentially any internal performance metrics can be captured and reported by AI solutions in near real-time.

This empowers your company to make smarter decisions in both implementing and testing change. This creates more agility, faster time to market, lowered costs, and quicker realization of rewards.

Security

Cyber attacks on a global scale are taking place. The more you use digital communications, the more exposed you are to hackers and malware that are also becoming both more sophisticated and more specialized.

One of the most promising roles for AI is the capability for real-time monitoring of your business network. For large companies, communications can mean thousands of emails, transactions, downloads, web requests, and much more, every day. AI is the perfect tool for monitoring all this traffic and identifying risk levels. The solution to keeping your IT infrastructure more secure is now quite simple.

Managed detection and response service providers can leverage AI to identify intrusions and take appropriate actions to minimize the threat, including isolating affected data, tracking IP addresses, and sending alerts. The real bonus is that as the machines learn, your security solution becomes more familiar with your unique infrastructure and better at its security tasks.

Some companies, particular small businesses, run the risk of overspending on AI upgrades. But once you have identified a real business need, you’ll find an AI solution that increases performance and improves the bottom line. AI is the future of business systems.

About The Author
Kevin Faber has been in the commercial finance and banking industry for most of his professional life. He graduated at UC Davis with a B.A. in Business/Managerial Economics. His experience in credit analysis, finance, and management led him to be the founder of Silver Summit Capital. He enjoys working in the financing industry and building connections with industry leaders.
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