#CLUB5050 | SIZ EDUCATION | ARTIFICIAL INTELLIGENCE~BUSINESS Trends and Ideas~
Assalamualikum!, hope all stemians are doing good .So this post is about AI and how it can be used to flourish your business. But first let me introduce you about ARTIFICIAL INTELLIGENCE.
Artificial intelligence is the most well-known word in the world of technology.AI is playing a very important role in many aspects of our lives. Today I am going to discuss the role of artificial intelligence in business. The importance of AI cannot be ignored, from small businesses to the large businesses sector. Every business firm should identify that how Artificial Intelligence will make the biggest difference to the growth of their business.
What is ARTIFICIAL INTELLIGENCE?
Simply put, Artificial Intelligence is any software program that can immerse in a human-like activity. It is programmed to stimulate natural intelligence ie. human intelligence into machines that are programmed to replicate human actions. Essentially, AI is defined as multiple technologies working together to enable the machines to understand, learn and act to enhance human capabilities.
ARTIFICIAL INTELLIGENCE trends that matter for BUSINESS:
Artificial Intelligence is a game-changer in enhancing business efficiency, increasing productivity and streamline workflows. Let's see how AI is revolutionizing the business industry.
NATURAL LANGUAGE GENERATION:
Natural Language generation enables the conversion of data into text. Currently, it is used in customer service reports to create in-depth market summaries. The businesses that are using it includes Digital Reasoning, Lucidworks, SAS and Yseop.
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ROBOTIC PROCESS AUTOMATION:
Robotic process automation (RPA) can
help to grow the business by avoiding costly human errors. RPA tools are designed to acquire, analyse and read up a large amount of data.
VOICE RECOGNITION:
We all are familiar with voice recognition technology as smartphones have voice recognition in various applications. It allows different business departments to complete their task faster.
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NEURAL NETWORKS:
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Neural networks are extremely useful in the growth of business because it helps in developing targeted marketing campaigns by identifying the customers with similar characteristics.It save both money and time by advertising relevant product and services to intrested customers which reduces email fatigue.
INTERNET OF THINGS:
Internet of things is transforming the business by improving coustomer experience, improving stocks or inventory control and supply chain management.It eliminates the firiction points in the shopping experience, not only helping customers, but also the
MACHINE LEARNING:
Machine learning provides users with relevant content rather than random and unwanted ads which helps to boost the business.
BUSINESS BENEFITS of ARTIFICIAL INTELLIGENCE:
Personalises shopping experience provide long term relationship with customer which increase the sales.
It is effective in integrating industrial robots to ramp up the manufacturing process to produce more output in less time.
AI also automize the workload by collecting and analysing data with the smart sensors or by using Machine learning to categorise work and make it easy for user.
Virtual assistant program provides the best customer service and solves their issues around the clock.
Collecting customer feedback through surveys helps to predict costumers prefrence and provide them personalized experience.
The outputs from congnitive technologies helps to make faster businesse decisions.
Mine the relevant findings from large amount of data to develop quality leads and grow customer base.
Personalises shopping experience provide long term relationship with customer which increase the sales.
It is effective in integrating industrial robots to ramp up the manufacturing process to produce more output in less time.
AI also automize the workload by collecting and analysing data with the smart sensors or by using Machine learning to categorise work and make it easy for user.
Virtual assistant program provides the best customer service and solves their issues around the clock.
Collecting customer feedback through surveys helps to predict costumers prefrence and provide them personalized experience.
The outputs from congnitive technologies helps to make faster businesse decisions.
Mine the relevant findings from large amount of data to develop quality leads and grow customer base.
Best BUSINESS IDEAS using ARTIFICIAL INTELLIGENCE:
As artificial intelligence prove itself extremely beneficial in the business sector so here I put together some best AI business ideas.
- Virtual assistant business
- AI tax return service business
- Augmented reality-based jewellery store app
- AI butler business
- AI logistic and supply chain management
- Business of Home automation devices
- AI marketing agency
SCOPE Of AI In The Future Of Business
Artificial Intelligence is constantly revolutionizing the business world and its scope in business is continuously growing and it doesn't seem to come to a halt soon.
It seems like at some point soon many businesses firms which are not using AI to grow their business will not be able to compete in the market because artificial intelligence overcomes the traditional outdated systems and improve overall working techniques with intelligent automation.
COMPANIES THAT ARE USING ARTIFICIAL INTELLIGENCE:
| COMPANIES | TRENDS |
|---|---|
| 1. Computer vision | Viz.ai, AMP Robotics |
| 2. Natural Language processing: | Duolingo, whisper, Twitter, Amazon |
| 3. Machine learning | IBM, Pinterest, Twitter, Google, Amazon |
| 4. Neural Networks | Google, Microsoft, Amazon, Apple |
| 5. Robotics process automation | HCL technologies, IBM, Cognizant |
CONCLUSION
Artificial Intelligence has already changed the way of doing business and it will keep evolving in future by adding innovative ways in business which will be beneficial for entrepreneurs in the long run.
THANKYOU FOR VISITING MY POST
Special thanks to
@vvarishayy
@siz-official
#club5050
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