Artificial intelligence is transforming the world we live in. From the Internet of Things (IoT) powering smart devices in our homes and workplaces to cars being fitted with the latest AI-powered applications, this kind of technology is revolutionizing how we communicate and how we do business. Below are six ways that artificial intelligence is transforming business and in which key areas.
One of the biggest advances in AI technology is cybersecurity. With so many digital threats currently circulating in the digital landscape, AI-powered cybersecurity is being used to provide a higher level of protection than regular programs because it can watch for suspicious activity using complex algorithms. Therefore, AI is an excellent preventative measure for boosting the security of IT and computer systems.
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Another big area that is being transformed by AI is marketing. Not only can AI tech develop marketing strategies, but it can also sort customers and target ads based on their demographics. AI also provides marketers with key information about consumers and prospective clients so that they can send out the right messaging to the right people. This allows for more personalized recommendations and the ability for businesses to build a solid relationship with their target market.
The sales function is also benefiting from AI tech as the tech is able to provide insights into sales forecasting, enable better communication, and predict consumer needs and behavior. These key insights and improved processes are boosting business sales at a rate that wasn’t achievable before. Also, AI saves time for business owners and professionals by identifying customer follow-ups and those who may be ready to convert to a sale.
The transformative power of AI is also reaching into Human Resources by automating tasks and improving areas of talent management and recruitment. Not only does AI help with candidate screening and application sorting during recruitment, but some are even using the technology to conduct automated telephone interviews. Crucially, AI is also being used to take over some of the repetitive tasks of HR, which frees up employees’ time for other activities.
The manufacturing industry is also seeing major benefits from the use of AI. Whether it’s tracking inventory or anticipating demand for supplies, AI is revolutionizing manufacturing through automation, predictive analysis, and monitoring. Sensors on equipment in warehouses, for instance, can indicate when maintenance is required, and AI can also monitor quality control and safety at manufacturing facilities.
Most people have become accustomed to the virtual chat bots found on many business websites. This AI-powered technology is already having a huge impact on customer service and experience because it can respond in real time. AI is also improving the customer experience by gathering customer data and allowing businesses to deliver more personalized and customized products. This ability to offer improved recommendations and service also allows for stronger customer relationships.