Artificial Intelligence- All Set to Transform Businesses

The branch of computer science which deals with study of developing machines which work and react as humans is known as Artificial Intelligence. The research on this field has become very essential for Technology Industry.

Artificial Intelligence is not just a science fiction but it has become a reality today, though many of us are not aware of it, but in some or the other way we are using it which sounds surprising. We are already using it in video games from long, though the intensity and role of intelligence has been commendably increased in some years. The game characters learn player’s behaviour and then respond to the gaming situation in a way you would have acted in real.

The Driverless cars seems not to be a distant dream as Google and Tesla Motors are deeply involved to make cars which will run on autopilot feature. So, don’t feel as if you have seen some ghost in a car reading newspaper at the back seat.

But despite of all talks, rarely anybody understands the use of AI for business purposes. How Companies can use it? How can machines take place of us and our jobs? Japan is comparatively advanced in this field from others. The Reception table is now handled by Robots there who extends warm welcome to the guests replacing humans and human made errors for this job.

As we take a look at the impact AI can have on the Businesses, we find that it’s not just about making self-driving cars by Google or Image recognition software by Facebook but it is much broader than that. The purpose it can serve is magnificent. Let’s know how?

Prediction Algorithm- Through this algorithm, large retailers like Amazon and Walmart can predict the product a customer will come to buy so as to target you with their product before you even realize that this is something you were looking for. Isn’t it great! Companies can make a large amount of money if they target right customer with right products at right time and AI will just make it possible to do.

Not only for e-Commerce Industry, this technology can is also used by brick and mortar stores to decide on the coupon offering when somebody visits the store, to decide on differential rate of discount for different visitors, to target the ads to be shown, frequency of ads, device used for advertising etc. using Prediction Analysis Algorithm.

Fraud Detection Systems- The use of AI for detection of credit card fraud is a new concept. One may now receive calls or messages confirming the use of credit card for purchase of certain products or services which the software doubts to be purchased by you analysing the previous buying behaviour and related purchasing trends. MasterCard and RBS are some of the examples using the AI based technology to minimize the risk of frauds.

This software can also help to detect the creditworthiness of credit card applicants even by analysing their behaviour on social networking sites.

Online Customer Support- You must have noticed while browsing a site that sometimes a message pop up comes in to start a chat with the online representative- but it may be possible that you are talking to a chat bot empowered by AI rather than a person on the other side who are very efficient to understand human language and behaviours.

Movie and Songs Recommendations– Apps like Netflix and Pandora recommend movies to users based on their interests they have shown earlier. By analysing your search history and the movies you have watched, your recommendations and other factors, they will come up with choices of movies of your interest which provides the users a more personalized approach as well as simple to discover your kind of movies or songs.

It is evident now that Artificial Intelligence will be used everywhere after certain years and the businesses needs to be ready to adopt such modern technologies to dive into the sea of opportunity AI provides. Companies need to look beyond traditional stats and be flexible enough to use intelligent machines to survive in this fast pacing world with intense competition.

The first and important step to approach is that the companies should have their own Mobile App Development through which all data can be recorded and analysed by these software. So, the entrepreneurs and businessmen should first focus on coming with their functional and interactive mobile apps and sow the seeds to get the fruits of Artificial Intelligence.

Author Bio :-
Shivani is a Content Writing Lead at Enuke Software Pvt. Ltd, a Mobile and Web Application Development Company, where she writes mostly on travel and technology. Other than writing on travel and technology, she writes on technological aspects of many other domains and industries like Food, Grocery, Health, etc.