Artificial Intelligence Training in Maraimalai Nagar

The impact of AI in business

5 ways AI is changing the way we do business. AI can be either a supporting tool or a replacement tool for jobs, tasks and even entire industries. It will all depend on how you prepare your company for the future. Here are the five areas you can implement now.

Automating Recruitment

• Chances are you’re already using AI in your business to automate boring and repetitive tasks, such as sending out email sequences to prospects or creating invoices.
• One important subset of AI is Machine Learning — algorithms that analyze large amounts of data, identify patterns and predict outcomes.Machine learning automation is now helping HR departments with employee recruitment, automating processes like screening resumes, tracking down applicants and scheduling interviews. AI will make hiring and recruitment more effective, saving a lot of time and using large amounts of data to match an applicant’s experience, knowledge, and skills to the job’s requirements.
• Furthermore, chatbotswill interview the candidates as another part of the screening process, analyzing responses and even facial expressions to determine if the person is a good fit for the company.

Personalizing marketing and sales

• AI promises to revolutionize marketing and sales and is in fact doing it right now. For instance, AI will qualify leads way faster and more effectively than humans, allowing sales reps to just close deals.
• AI can make the customer relationship management (CRM) system a self-updating, auto-correctingsystem that simply works for you.
• Machine learning can analyze your prospects data and predict who will buy. This is called Predictive Marketing.
• Not only that, but AI can also create a hyper-personalized email/chat messages for each prospect, create targeted content and cross-sell and upsell suggestions for each client. What’s more, AI can do all that by itself, without much human intervention — you’d just have to set up a chatbot on your website.
• And of course, AI works for ad targeting, gathering and analyzing huge amounts of historical data to decide which ads work best on which people.
• Marketers can use AI to analyzebehaviors and find unexpected connections between different variables, such as previous click patterns, location information, and frequency of app use to better target customers.

Simplifying customer support

• Just like in sales, chatbotsare taking over customer support. They answer queries quickly, are available 24/7 and only refer customers to a rep when necessary.
• There are two relevant stats here: Up to 80 percent of customer support interactions could be handled by a chatbot alone; and more than 40% of people prefer live chat over other contact methods because it prevents them from being placed on hold.
• In fact, customers feel most satisfied during their buyer’s journey when using a live chat feature (92%), compared to voice (88%), email (85%), and even social media messaging (Facebook 84%, Twitter 77%).
• Customer support reps can actually partner with robots to simplify their work. An interesting case would be using AI to analyze customer call data, classify interactions based on positive or negative outcomes and then analyzing the patterns in each category to provide a script with the most effective phrases to use during support calls.

Improving Security

• AI can make our computers and networks safer, filtering out malware, spam and phishing emails even before a human opens them.
• Machine learning that has analyzed our customer’s behavior already can easily recognize who’s a customer and who’s not, thus preventing or reacting to cyberattacks in real time.
• AI has many current and future applications for security besides defending against hackers, such as privacy protection andcrime prevention. As security and personal data threats become more common your business will gain trust as you adopt AI into your cybersecurity.

Reducing operational costs

• AI has the potential of saving time, eliminating mundane tasks from your to-do list and making your staff more efficient and productive. So, implementing AI automation in your business will free-up time for other tasks, reduce human error, and even eliminate the need for some positions or at least the need to oversee certain tasks.
• In manufacturing, AI solutions can make the production process more efficient and enable things like predictive and preventive maintenance and upgrades, which means lower downtime and less expenses.
• Other AI applications have different cost structures, some involving hardware purchases rather than mere subscriptions to cloud-based software. As time goes by, however, AI will become more affordable, even for smaller companies.