What is Artificial Intelligence?
Artificial Intelligence (A.I.) was indeed just a superficial Star-Wars-sci-fi pipe dream once. In time, the concept was the reckoning of evolution in the technology department.
Well, we all have been bombarded with Artificial Intelligence by science fiction movies. So, whenever we hear that particular term, our brain conjures anything which it deems relevant to that subject. So, what comes to your mind when you hear the term “Artificial Intelligence”?
Is it Ava from Ex Machina or (“Spoiler alert”) Dolores from Westworld? Regardless of whatever it might be; the applications of artificial Intelligence ultimately head in the same direction as any other – Technological advancement.
Advantages of Artificial Intelligence
Artificial isn’t just the giant leap for mankind towards evolution, but it is also a big opportunity for Business Development.
“Some people call this artificial intelligence, but the reality is this technology will enhance us. So instead of artificial intelligence, I think we'll augment our intelligence.” —Gini Rometty
Imagine an A.I. being capable of generating content on its own. Well, you don’t have to imagine much because it’s true. Possessing the ability to generate data such as content based on information, is one of the key advantages of artificial intelligence.
Digital marketing is the Kingpin for exploiting the advantages of artificial intelligence. These marketers utilize A.I. to analyse and determine the behaviour of the user, to help them keep better track of their potential customers, to study the market and even narrow down the list demographically.
Yeah! You read that right. Pinpointing users based on their likes, dislikes and behavioural pattern assessment is like smoothly sliding inside a DM for the A.I. As they say – Only an algorithm can understand another algorithm. Targeting users with the help of AI is really effective and is one of the cheeky advantages of artificial intelligence.
User Experience (UX)
User experience enhancement by A.I. could be used extensively. The whole ideology behind A.I. is revving up that experience throttle. In a survey conducted in 2017 by Gage, 33% used A.I. for personalizing the web experience of the user. 63% of them admitted that A.I. helped them get a better conversion rate. Chatbots are helpful, and it is an immensely popular concept in the A.I. department.
Application of artificial Intelligence brought in changes that certainly DON’T prove to be trivial. Voice Search and RankBrain are the two new companions in the field. According to a Survey – 70% of the language used to perform searches with the help of Google Assistant, Alexa, Siri and Cortana is a natural and a simple one.
Return on Investment (ROI)
ROI is probably one of the biggest advantages of artificial intelligence. A good functioning A.I. means a guaranteed ROI. Don’t believe me? Ask Jeff Bezos or Sundar Pichai for that matter. A.I. helps in making rich content, simplifies user experiences, and it simply makes your tasks seem convenient.
Applications of Artificial Intelligence
Artificial intelligence is a million-dollar industry. Applications of artificial intelligence are found in almost all fields these days. Business is no different. The robotics department took off after Sophia was activated three years ago on February 14th. Hanson Robotics is responsible for the first social humanoid.
The finance department criteria demand all the skills and applications an artificial intelligence software has to offer. Such high-speed processing, real-time reporting, accurate automation, algorithmic trading and last but certainly not the least – adaptive learning. It’s like this crazy duo was made for each other.
AphaSense created a custom search engine that aids investors by providing relevant information. It’s much like Lord Varys’ little birds from Game of Thrones.
A.I. is also used in other business sectors such as Healthcare and Gaming
The best example of A.I. in e-commerce is Amazon and Google. The two tech giants have made it inside people’s homes (quite literally). Amazon’s Echo and Google Assistant are home devices, which are basically capable of operating your house. Well, at least on some level.
The applications of artificial intelligence in e-commerce also include the following:
Product recommendations, Personalisation as a Service, online security and fraud protection, etc.
Artificial Intelligence is like Altair’s Apple of Eden – Very powerful and influential. A.I. is excellent for developing designs, enhancing experience, content curation, social analytics and semantics, and whatnot. Marketers enjoy using A.I. as their prime candidate for enticing potential customers.
Artificial intelligence is proving time and time again that it has nothing but development in its sight. , we will see the A.I. in almost every field possible. 2019 is the year for A.I. Especially, for businesses.
80% of B2B marketing executives predict AI will revolutionize their industry by 2020.
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