AI and business have a lot in common. In fact, many artificial intelligence applications have been designed from the very beginning strictly with business in mind. Today, artificial intelligence in business is a vast field of knowledge, and companies using AI in business manage to achieve their goals in a much quicker and easier way. In this article, we are going to take a look at five examples of how AI and business work together in order to improve your company.
It doesn’t really matter what sector of business or industry you have in mind. AI consulting has whatever it takes to transform every company, both B2B and B2C. We decided to gather five examples of how artificial intelligence in business actually works. Let’s take a look at them!
How AI enhances business
Thanks to artificial intelligence, the vast majority of tasks and processes in companies can be automated, at least partly. And as a matter of fact, companies automate everything, from manufacturing processes to communicating with customers. For example, robotic process automation (RPA) is a technology commonly used in the manufacturing sector and a significant part of industry 4.0.. The benefits of using solutions such as RPA are increased efficiency and lower labor costs. With RPA, manufacturing companies can use smart robots and machines that deal with the production process with minimal human involvement.
See how Audi uses automation in their factories:
Every company is about getting new customers and selling more products. With AI in business, you can reach potential customers in a much more effective way. AI algorithms help companies and marketing agencies all over the world in providing users with personalized product recommendations, optimizing marketing campaigns so that they reach the right audience, and even devising new products and services. This way, you have all the tools you need to grow your target audience and, as a result, sales.
Moreover, there are many monitoring tools available on the market that collect data available on the web based on big data and AI. Such tools are, for example, Brand24, SentiOne, or Dealavo (although here mainly in terms of the pricing policy). And think about something called marketing automation. Tools like SalesManago are based on AI to automate the vast majority of your marketing activities.
Here, we have to mention modern AI-based solutions that allow customers to get acquainted with the products, such as AR and VR. They are especially popular in the e-commerce world. With AI in business, you can enable your customers to discover products more thoroughly without the need to go to a brick-and-mortar store. See, for example, how Gucci uses augmented reality to improve customer experience:
And then, we have intelligent chatbots and voicebots that, thanks to machine learning, can improve themselves over time. With intelligent bots, your company can save a lot of time and money on customer service and enable 24/7 service without hiring additional employees.
Finding a worthy candidate can be a huge challenge. Large companies get thousands of resumes each month. It’s no mystery that recruiters simply don’t have enough time to get acquainted with every resume they receive. Again, AI comes to the rescue. Modern HR applications are based on AI and machine learning, and they can help you with:
- Screening and sourcing candidates
- Selecting the best resumes
- Scheduling interviews
- Support the recruiter during the whole recruitment process
As a result, you’re more likely to find the perfect candidate and not spend months on this assignment. Take a look, for instance, how Olivia, a smart HR assistant, facilitates diverse hiring-related processes:
Although this area of business is restricted to the largest and most advanced companies, it’s still a place for AI to be! AI and machine learning have been playing a vital role in various research processes for years now. Drug development is the best example. AI can help pharma companies come up with a new drug in a much shorter time by creating the best chemical compound. Both AI and ML increase productivity and optimize the costs of complex projects. It has also resolved the data analysis issue, making it far easier for researchers to all the relevant information they need. As a result, R&D processes are now more straightforward and effective.
Do you want to know more? Take a look at this video made by Dell:
As you can see, artificial intelligence in business is a fascinating field of knowledge. Your company can be transformed by this tremendous technology as well! What would be your starting point? If you’ve never worked with AI in the past, you ought to start with AI consulting. It’s our core service here at Addepto. We help companies all over the world devise, design, and implement AI-based solutions and applications that have the potential to take these organizations to a whole new level of development. Drop us a line to find out more.