How To Use AI To Your Business’s Advantage

We see businesses adopting artificial intelligence (AI) technologies across multiple industries for all sorts of tasks. While medics use AI to improve patient diagnoses, manufacturers and financial organizations leverage AI-powered deep analytics and task automation. Huge companies like Tesla and Waymo go further and deploy the latest AI-based inventions to make driverless vehicles a safe and comfortable reality.

However, some companies are still hesitant about investing their time and money in creating custom AI and machine learning solutions. They may even fear adopting trending solutions like OpenAI’s ChatGPT or Google’s Bard.ai .

Some businesses postpone AI adoption because they can’t calculate potential risks or determine what possibilities this technology might unlock for their business, but I see great potential for AI to help businesses deliver better and safer services and products. Let’s discuss three key ways AI can help you deliver better products and services.

1. Create highly personalized customer experiences.

AI-powered personalization can help you create unique, enjoyable and memorable customer experiences. For example, you can make a smart chatbot or virtual assistant ready to answer your customers’ questions and requests 24/7.

In contrast to non-AI chatbots, such a smart assistant can learn from conversations with customers, remember the context of these conversations and improve itself over time. This means that instead of general responses, your customers will receive highly personalized and truly helpful insights and suggestions, strengthening their loyalty to your brand.

You can go further and leverage AI capabilities for sentiment analysis of customer or employee feedback to find non-obvious ways to improve your product and operations and reduce customer attrition and employee turnover.

2. Uncover the potential of big data with AI-powered analytics.

Today, even small businesses have to handle tons of data on a daily basis. All these unstructured records contain hidden insights that, if discovered and acted upon, can help you create both monetary and business value .

AI and machine learning technologies enable you to forecast important metrics and identify hidden patterns, anomalies and trends that are difficult to discover using traditional data analysis methods and tools.

AI-powered analytics is a crucial basis for smart personalization . Finding hidden relations in unstructured data allows businesses to discover unknown needs and unapparent customer expectations and tailor their offerings accordingly.

You can also achieve higher accuracy in customer demand forecasting compared to using non-AI data analysis methods. For instance, manufacturers can identify the right number of goods to produce each season, ensuring precise resource allocation and improving logistics planning.

3. Boost human creativity with the automation of repetitive tasks.

Automating time-consuming tasks with the help of AI allows businesses to free up their experts’ valuable time for tasks that require human creativity and critical thinking. Depending on your industry , tasks to be automated can vary from data entry and document processing to code testing and bug fixing.

For instance, healthcare professionals can automate tasks like scheduling patient appointments and entering and processing patient data, freeing time for actual patient care. Manufacturers can deploy AI-powered automation to minimize human errors and ensure consistent product quality, improving overall business efficiency and profitability. Even software creators try deploying AI to improve the efficiency of their products’ automation testing , leaving high-stake tasks that still require human inspection and analysis at the hands of manual testers.

It’s not the time to get overly excited yet.

It’s important to point out that while AI promises multiple benefits, it’s still a developing technology, with multiple limitations and pitfalls. They include risks coming from bias and overreliance on AI—neglecting human expertise and creativity, making decisions based on inaccurate answers given by AI models and so on.

Also, since AI solutions often process lots of personal data, there are ethical and data privacy aspects to take into account early on. This is why unleashing the full potential of AI for your business requires research, strategic planning and often the help of niche experts.

If you want to leverage the full potential of AI, implementing it into your workflows and products will be a long journey that requires thorough planning. But when incorporated wisely, AI technologies open new horizons for delivering products that stand out on the market and bring unique value to your customers.

The article was originally published at www.forbes.com .

AI can help you reduce operational costs, automate routine activities, and let your employees focus on tasks that require out-of-the-box thinking. With Apriorit, you can go beyond building powerful AI. Leverage our strong focus on cybersecurity to make your AI solutions secure by design. Our multi-layered security approach safeguards against breaches, data leaks, and unauthorized access across all levels, from on-premises deployment to API integration.

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