How Does Technology Understand The Business World?

Artificial intelligence is good for your business.

Dhara Sharma

Nov 24 • 4 min read

Artificial Intelligence technology in business

To improve processes or learn about their potential customers or offering instant support to customers, enterprises today are using machines now more than ever. The ability of a machine to learn, improve and predict adds a wider scope to a lot of business areas.

Artificial intelligence is the saviour- makes us look good in selfies, recommends the content of our choice, helps in a lot of our chores. The specific technology we are talking about here is machine learning and most businesses today understand the importance of adopting AI for automation and improving business functionalities.

Business today is dominated by data

Let’s take a simple example. Do you upload your pictures on social media platforms, say Facebook, Instagram or Snapchat? If your friends are on the same platform, it suggests you tag them, the location, talk about the emotions you are feeling and more making the process easy, convenient and fast.

Technology can play a similar role in your business.

Why is technology important in business?

Customers of today are complex. They are rapidly evolving and with it their preferences and buying behaviour. It leaves no choice but for the businesses to evolve meaning they can no longer rely on traditional methods to drive growth. Also, the data each business is creating is immense and it opens up new realms of possibilities for businesses to gain actionable insights that can drive business growth. 

The main role machines play in a business is improving operations to drive growth and without the right kind of technology, businesses would fail to accomplish the main task.
No matter the size of your business, technology has a big impact on most business operations including productivity, customer service, employee efficiency and more. 

How can technology help your business grow?

Business processes are characterized by a high level of complexity that involve stressful tasks that are inefficient for a human to work on. Also, to thrive in this competitive landscape, businesses need to uniquely understand the preferences of their potential and current customers to continuously add value to them. 

Using artificial intelligence in the business allows enterprises to not only uniquely understand their customer but also engage with them. Also, enterprise solutions automate businesses processes that help improve productivity and revenue while reducing operational expenses.

Here are a few examples of how you can use technology for your business 

1. AI in Customer Service

Gartner predicts, by 2020, 85% of customer interactions will be managed without a human.

The addition of machines such as AI chatbots or virtual assistants along with human executives in customer service is one of the best examples of artificial intelligence in business. It helps businesses reduce expenses while improving customer communication by offering them a conversational experience.

Chatbots are available 24x7x365, designed to resolve queries instantly, give information, take a potential close to a sale and fulfil other business goals by simply having a conversation with a customer.

2. Business Intelligence

Turning the data your company generates to insights can be a big challenge for your business. 

Obtaining valuable insights from data is another hot reason why businesses are adopting artificial intelligence in business.
These insights help organisations understand their customer better that further helps in improving the effectiveness of marketing by segmenting the audience to create personalized experiences. Also, the insights can help develop business strategies and make decision making faster.

3. Personalized Marketing

All of us are extremely occupied leaving us limited time to engage with brands. We would interact with only those businesses who understand what we require and deliver it with the best experience possible. This accounts for the rising need to market only what attracts the customer and that is possible by knowing your customer. business solutions can help you gain insights from the data obtained by the online activities of your customers to use it to predict and target increasing your chances of marketing and sales while reducing the overall cost.

4. Predictive Analytics

Spotify uses AI to monitor the listening behaviour of its users by understanding their song preferences and then recommends songs based on it. Netflix keeps its audience entertained by making use of an AI recommendation system that provides unique content recommendation based on the user’s distinct experience. Amazon uses AI to understand the buying behaviours of its customers to predict which product to recommend. Fintech companies use AI for approving loan requests as the predictive analytics helps them determine customers that are likely to repay loans.

Just imagine the scope AI can offer for your business.

5. Natural Language Processing

With natural language processing, companies are now able to offer smart contextual conversational assistance that can help users with their routine tasks by simply talking to a machine.
Sentiment analysis helps companies to understand the perception of their users about the company’s products and services to further improve the quality of service by offering personalized experiences

Give your business the advantage

Businesses across diverse industries rely on technology solutions to boost revenue, improve customer experience, increase efficiency and productivity to drive business growth and transformation. With the right AI solution for your business, you can reap benefits that include

  • Automation of processes

  • Personalised marketing 

  • A better understanding of customers 

  • Improved experience of services offered

  • Fraud detection

The benefits listed here are just a small peek into the possibilities AI adoption can bring to your business. Embrace the guiding light that is AI if you do not want to miss out on the revolutionary future of business.

Written by

Dhara Sharma

Dhara is a Content Strategist with, with 7+ years of extensive experience in content marketing. Other than marketing communications she loves to read, travel, write prose & do yoga.

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