Saturday, February 27, 2021
  • Setup menu at Appearance » Menus and assign menu to Top Bar Navigation
Advertisement
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News
No Result
View All Result
NikolaNews
No Result
View All Result
Home Neural Networks

How is AI shaping the Future of Businesses today?

June 25, 2020
in Neural Networks
TensorFlow + Micro-controllers – Becoming Human: Artificial Intelligence Magazine
585
SHARES
3.2k
VIEWS
Share on FacebookShare on Twitter

With its incredible potential to analyze data for driving meaningful insights, enterprises worldwide are leveraging the benefits of this advanced technology to push the top-line revenues. The blogs speaks of the impact of Artificial Intelligence on businesses today. Read this now!

Business executives in the C-suite are desperate to use AI and feel the need to incorporate this technology in order to thrive. Marketing strategists and business leaders have realized the importance of incorporating advanced AI techniques in businesses today. The use of Artificial Intelligence helps businesses increase their profits.

Artificial Intelligence is providing a competitive edge on the business front, as 72% of business decision makers believe that AI will be the business advantage of the future, says a report by PwC.

You might also like

How AI Can Be Used in Agriculture Sector for Higher Productivity? | by ANOLYTICS

Future Tech: Artificial Intelligence and the Singularity | by Jason Sherman | Feb, 2021

Tackling ethics in AI algorithms: the case of Salesforce | by Iflexion | Feb, 2021

Impact of Artificial Intelligence on Business!

The use of Artificial intelligence (AI) on business has become a trend now. Business leaders and executives are curious to know how AI is shaping the future of businesses today. The impact of AI on business is now a curious concept that is grabbing every entrepreneur’s attention now. Let’s see how Artificial Intelligence has completely revolutionized the business space now.

IBM says they can determine with 95 percent accuracy when a person is planning to quit. All thanks to the impact of Artificial Intelligence on business!

As per our recent study on AI, 72% of executives believe it will be the business advantage of the future, with huge potential to optimize business efficiency and labour productivity (67%), automate proactive communications (70%) and improve big data analytics (59%). In the immediate future, execs are looking for AI to alleviate repetitive, menial tasks, such as paperwork (82%), scheduling (79%) and timesheets (78%), says Adobe.

Here, in this blog, I have discussed the impact of Artificial Intelligence on businesses today. Let’s read further to know more on the Artificial Intelligence impact on business.

Jobs in Big Data

Improved Decision-Making!

With the disruptive market forces prevailing in the business space, complexities involved in decision making are increasing every day. Understanding customer requirements and optimizing products according to those needs is a difficult task to handle. Thus, a proper analysis of customer behaviour is needed in order to design a smart marketing strategy to enhance business growth.

According to McKinsey Global Institute’s research, AI could deliver an additional output of $13 trillion to the world economy by 2030, which would boost global GDP by nearly 1.2 percent a year. Acting as a capital-hybrid, AI can aid the growth of both the economy and humans. It will have a revolutionary impact on the decision-making process too.

But, how is AI affecting businesses today? The use of AI-driven algorithms and modeling techniques provide businesses with relevant insights into the consumers’ behaviour. Based on these insights, businesses can predict consumers’ behavior. After analyzing real-time data gathering, trend analysis and forecasting, an AI system helps businesses make well-refined marketing decisions considering the needs of their targeted customers.

Streamlined Supply Chain!

Let’s read further to know more on this intriguing topic- “ how is AI affecting businesses today? Artificial Intelligence can help improve the supply chain. AI-enabled algorithms are fed to machines which train them with the patterns of operational standards and proper systems prevailing within the supply chain. This helps machines to detect errors through supervised AI algorithms with a higher level of accuracy than humans.

1. AI for CFD: Intro (part 1)

2. Using Artificial Intelligence to detect COVID-19

3. Real vs Fake Tweet Detection using a BERT Transformer Model in few lines of code

4. Machine Learning System Design

Amazon and Google are two big brands that incorporate the use of AI in their supply chains. Undoubtedly, this is an important Artificial Intelligence impact on business. One of the ways Amazon is Artificial Intelligence is by using its predictive nature to analyze future demands.

Amazon’s AI algorithms can determine the demand for specific products up to 18 months in advance because it analyzes both customer preferences and logistical operations. Google estimates that the company has invested up to 30 billion dollars into AI acquisitions, and AI research and development.

Better Customer Relations!

Still wondering about this- “how is AI shaping the future of businesses today”? Let’s read further. AI-enabled software solutions help businesses in understanding customers’ requirements. AI algorithms analyze data related to customers’ shopping patterns.

Based on this analysis, AI offers valuable insights into customer behaviour. Thus, predicting customer behaviour allows businesses to respond more effectively to concerns, complaints and queries and render services as per the likes and dislikes of the consumers.

Eight out of 10 businesses have already implemented or are planning to adopt AI as a customer service solution by 2020, says Oracle.

After reading this, I am sure you are clear with the question now- How is AI shaping the future of businesses today? Incorporating AI techniques into your market strategy helps in providing a better customer experience. AI-driven chatbots are one of the best examples of this. It saves your customers from waiting in long queues for getting their queries resolved.

By facilitating a faster and quick response to customer queries, these AI-driven chatbots help you build stronger engagement and consumer trust. Moreover, AI techniques can be used for sending personalized messages, product recommendations, and mails to customers based on their likes and dislikes.

Source

Improved Cyber Security!

Rendering an improved cyber security is a significant Artificial Intelligence impact on business. This is the answer to this question which is doing rounds in the industry today-How is AI affecting businesses today.

Advanced AI techniques are used in business to track and identify behaviors consistent with fraud. Intelligent apps and software driven by Artificial Intelligence can detect irregularities in pattern and thus detect threats well in advance.

Curating threat intelligence from millions of research papers, blogs and news stories, AI provides instant insights to help you fight through the noise of thousands of daily alerts, drastically reducing response times, says IBM.

With a huge increase in the number of data breaches and cyber attacks, incorporating advanced AI techniques help businesses to protect customer data and prevent them from malicious attacks. Artificial Intelligence provides robust data security that prevents data loss or any type of data breaches.

[Good Read: The 5 Most Interesting Artificial Intelligence Trends for Entrepreneurs to Follow in 2018!]

Sales and Lead Generation!

Let’s continue our discussion on the impact of Artificial Intelligence on businesses today. Use of Artificial Intelligence helps businesses in boosting sales by increasing lead generation. Artificial Intelligence plays an important role in business-to-business (B2B) sales and lead generation.

Harvard Business Review reports, for instance, that businesses which use AI can reduce call time by up to 70 percent and increase the number of leads by 50 percent.

LeadFuze, for instance, is a popular AI-based product that is focused on improving sales. It helps the sales teams in finding the right customer segment and lead. Use of this tool lets the sales team invest less time on prospect research and contact gathering and more time on actual sales conversations.

Insights-focused businesses, like LeadFuze, are projected to pull in more than $1.2 billion annually by 2020. Moreover, McKinsey believes that 85 percent of sales-related tasks could be outsourced to robots by 2020. I’m sure, now you know how AI is shaping the future of businesses today.

The Bottomline

By now, you must have got a clear idea of the impact of Artificial Intelligence on businesses today. With its incredible potential to analyze data quickly and easily to draw meaningful insights, the significant Artificial Intelligence impact on business just can’t be overlooked.

Advanced AI techniques help improve the efficiency of business processes thus making your business operate in a smarter manner. AI has emerged as an important strategic tool for boosting sales profits,

According to a PwC survey, AI is broadly defined as the ability of tech to perceive, reason, learn and problem-solve — qualities more typically associated with matter between our ears.

Businesses worldwide are using AI to improve their standard business processes, streamline strategic output, rendering improved cyber security, well-refined decision-making and increase in sales profits.

Credit: BecomingHuman By: Scarlett Rose

Previous Post

Microsoft: Patch your Exchange servers, they're under attack

Next Post

Machine learning platform MLflow joins the Linux Foundation

Related Posts

How AI Can Be Used in Agriculture Sector for Higher Productivity? | by ANOLYTICS
Neural Networks

How AI Can Be Used in Agriculture Sector for Higher Productivity? | by ANOLYTICS

February 27, 2021
Future Tech: Artificial Intelligence and the Singularity | by Jason Sherman | Feb, 2021
Neural Networks

Future Tech: Artificial Intelligence and the Singularity | by Jason Sherman | Feb, 2021

February 27, 2021
Tackling ethics in AI algorithms: the case of Salesforce | by Iflexion | Feb, 2021
Neural Networks

Tackling ethics in AI algorithms: the case of Salesforce | by Iflexion | Feb, 2021

February 27, 2021
Creative Destruction and Godlike Technology in the 21st Century | by Madhav Kunal
Neural Networks

Creative Destruction and Godlike Technology in the 21st Century | by Madhav Kunal

February 26, 2021
How 3D Cuboid Annotation Service is better than free Tool? | by ANOLYTICS
Neural Networks

How 3D Cuboid Annotation Service is better than free Tool? | by ANOLYTICS

February 26, 2021
Next Post
Machine learning platform MLflow joins the Linux Foundation

Machine learning platform MLflow joins the Linux Foundation

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recommended

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

Plasticity in Deep Learning: Dynamic Adaptations for AI Self-Driving Cars

January 6, 2019
Microsoft, Google Use Artificial Intelligence to Fight Hackers

Microsoft, Google Use Artificial Intelligence to Fight Hackers

January 6, 2019

Categories

  • Artificial Intelligence
  • Big Data
  • Blockchain
  • Crypto News
  • Data Science
  • Digital Marketing
  • Internet Privacy
  • Internet Security
  • Learn to Code
  • Machine Learning
  • Marketing Technology
  • Neural Networks
  • Technology Companies

Don't miss it

Oxford University lab with COVID-19 research links targeted by hackers
Internet Security

Oxford University lab with COVID-19 research links targeted by hackers

February 27, 2021
The Education Industrial Complex: The Hammer We Have
Data Science

The Education Industrial Complex: The Hammer We Have

February 27, 2021
New AI Machine Learning Reduces Mental Health Misdiagnosis
Machine Learning

New AI Machine Learning Reduces Mental Health Misdiagnosis

February 27, 2021
Fastest VPN in 2021 | ZDNet
Internet Security

Fastest VPN in 2021 | ZDNet

February 27, 2021
Increasing Adoption of Informatics will Promote Growth of Data Analytics Outsourcing Market
Data Science

Increasing Adoption of Informatics will Promote Growth of Data Analytics Outsourcing Market

February 27, 2021
MindMed Closes Acquisition of HealthMode, a Leading Machine Learning Digital Medicine Company
Machine Learning

MindMed Closes Acquisition of HealthMode, a Leading Machine Learning Digital Medicine Company

February 27, 2021
NikolaNews

NikolaNews.com is an online News Portal which aims to share news about blockchain, AI, Big Data, and Data Privacy and more!

What’s New Here?

  • Oxford University lab with COVID-19 research links targeted by hackers February 27, 2021
  • The Education Industrial Complex: The Hammer We Have February 27, 2021
  • New AI Machine Learning Reduces Mental Health Misdiagnosis February 27, 2021
  • Fastest VPN in 2021 | ZDNet February 27, 2021

Subscribe to get more!

© 2019 NikolaNews.com - Global Tech Updates

No Result
View All Result
  • AI Development
    • Artificial Intelligence
    • Machine Learning
    • Neural Networks
    • Learn to Code
  • Data
    • Blockchain
    • Big Data
    • Data Science
  • IT Security
    • Internet Privacy
    • Internet Security
  • Marketing
    • Digital Marketing
    • Marketing Technology
  • Technology Companies
  • Crypto News

© 2019 NikolaNews.com - Global Tech Updates