Future-Proofing Business Productivity for 2018 with AI and ML
Posted: 22 December 2017 | By Omar Najjarine
Next year, if not today, there is a very real conversation to be had about AI and the positive role it can play in businesses, many of which are already using forms of it to increase productivity.
AI for Business
AI in its most basic form is simply the ability for machines and computers to exemplify true intelligence, meaning an aptitude for understanding a user’s request and working out the most desirable answer from a pool of available information.
The phone in your pocket likely does this.
A term typically used alongside AI is machine learning, which is a field of computer science that grants computers the ability to learn without being programmed. Both AI and machine learning can, and are, used in business to great success.
A study from the Boston Consulting Group and MIT Sloan Management Review published in September reported that 84% of respondents said AI will allow them to acquire or sustain an advantage over competing businesses, 83% of respondents said AI is a strategic priority and 75% said AI will allow them to venture into new business terrains.
The survey included interviews with more than 3,000 business managers, executives and analysts in more than 100 countries across several industries.
Future-Proof your Business, Great or Small
While big businesses like Amazon and Target already employ machine learning for things like predicting what consumers like to buy online, smaller and medium sized businesses can benefit in the extreme from the technology.
Like the bigger companies, smaller ones can use machine learning to analyze existing customer data for trends and patterns that would otherwise be difficult or impossible to identify. To aid in marketing and sales, machine learning can be used to track customer interaction with the brand across social media channels.
In all, befriending machine learning algorithms and applied AI capabilities can help make sense of information that would otherwise be nonsensical to the average human mind.
Here are a few AI and machine learning tools that have revolutionized business’ organizational capabilities:
- Chatbots: They often use language processing in concert with machine learning to respond to customer requests. These bots can understand and react appropriately to user’s words. They can also memorize answers and personalize the experience.
- Amazon AI: Amazon offers an AI platform that allows companies to add machine learning to their toolbox. One of the tools included in the program is Amazon Rekognition, which makes it easy to add image analysis to applications, allowing a business to detect faces and objects, recognize celebrities and identify unsuitable content.
- Salesforce Einstein: Einstein is a platform launched by Salesforce that seeks to streamline work processes and make customer interactions smoother.
Omar Najjarine is a senior content creator/strategist for CyNexLink, an IT consulting company
See what AI can offer in 2018 for: