The Role of AI in Making Business Better and Effective

We are living in a technology-driven era where we are surrounded by the latest technologies which are making our life simpler, easier and quicker. Although in the past two decades, technology has given us lots of gifts, one of the most precious gifts which we have received through technology is the Artificial Intelligence (AI).

AI is being considered as the future of the technology as it is being expected that it will transform our whole world. The existing implementations of the AI are enough to make you realize how the future of AI will look like. From robots to climate prediction, from space exploration to our daily lives, AI is everywhere and businesses are no exception to this fruitful and highly advantageous technology.

Businesses are getting benefited by adopting the AI at various levels of their organization and in return, their different operations are getting more accurate, precise and effective. The automation and speed brought by AI with the analysis of huge amount of data is bringing the real change for business.

So, in this blog post, we will be looking at the various implementations of AI in the different business procedure so that we can have an idea of how the future of AI will be.

AI and Customer Relationship

AI is playing a crucial role in building a strong customer relationship for a wide array of businesses from different sector and industry. By using the AI technology, the firms are able to get a better idea about the customer behaviour pattern which can come in handy for businesses in order to micro-target their customers and also for life cycle analysis. For example, a local retail shop used AI to know that most of the customers who brought Jam also brought bread simultaneously. This is a good example of how AI can be used to know the insights of decision-making by the customers.

Chatbots and AI

The implementation of chatbots in businesses can be seen everywhere. They are always available, provide better insights, guide the customer and are always responsive. These advantages are pushing more and more businesses towards using chatbots. With natural language processing, AI is delivering almost 90% of accuracy in understanding customer request and solving the issues with them. Such an advancement and accuracy is making chatbots a trending topic. Chatbots can be really helpful if a business is getting requests on the same topic or if the customer involvement in the business is very less.

AI and Workplace Communication

Nowadays, workplace communication is full of channels, tools, content, and solutions which are pushing away employees from achieving their targets. But with the help of Artificial intelligence businesses are now able to improve their internal and external business communication. The AI is helping businesses to enable individual personalization for each of the employees, which is making them more productive and resourceful.

AI and Human Resource

The implementation of AI will completely change the way how HR used to work for the businesses and it is also going to transform the recruitment process of different firms, but in the end, this is going to improve and enhance the HR department of a company. HR is going to witness the first transformation through AI because it has very valuable data and it is also that part of a business which is both important and feels the pressure of time. The advance AI technology will wipe out all the hurdles of an HR professional like lengthy data entry, cumbersome paperwork, and mundane screening.

AI and Accounting

AI is affecting most of the departments of a business and accounting is no exception to it. Accounting is already in an advance mode through cloud accounting solutions like QuickBooks cloud hosting, but with the mix of AI, it will reach to another level. There are some implementations of AI in accounting solutions which are already making accounting a cakewalk for businesses and in the future, we will be able to witness the best form of accounting through AI.

If we will look at the broader perspective of the AI then we can say that its implementations and uses are still in the infant stage as this advance technology has still a long road to cover in order to rule the world of technology.

Soon we will be seeing robots walking down the streets and helping old aged people to wipe out their isolation while providing emotional support as well. But many people are still frightened of the AI because they are expecting it to take control of everything or wipe out millions of jobs. Although, possibilities are always there, such type of future is still very far away.