it is not news that Artificial intelligence is penetrating every valuable system on earth. With the help of Artificial intelligence, your business can be lifted to the top of its counterparts in various factors of ranking. Learn how AI app development can help you grow your business by reading the comprehensive sets of paragraphs below.
How Ai App Development Can Help You to Grow Your Business
People who still associate with science fiction may agree that AI is used in our personal lives, and they are not entirely wrong.
What is Artificial Intelligence?
The term artificial intelligence often abbreviated in the letters AI refers to a technology that offers a high level of intelligence by analyzing real-time information about human actions as well as behavior. This technology helps developers to create advanced and new solutions and make complex tasks easier.
On our smartphones, there are lots of features included that were imposed by AI. With every new release of the iOS app development, new and exciting features are coming. For example, the iOS 16 feature allows you to attend your facetime call either on iPhone or macOS.
One good example of AI is SIRI.
AI includes the following;
- Machine Learning
- Language processing
- Machine Vision
- Context Management
Ways in Which AI can improve your Business’ Mobile App
Infusing the features of AI in the mobile application of your business can do a lot of good. Here are some features that can be added to your business’s mobile app with the use of AI;
Speech Recognition Technology
This is one of the most popular uses of AI in the world today. It allows consumers to detect what a person is saying. Good examples of these features in real life are SIRI and Cortana.
Infusing this into your business’s mobile app can make the user experience better.
Nowadays almost every business is using chatbot technology to enhance their business activities. It is very necessary to address your customer’s queries immediately and satisfy their needs. When it is getting difficult to keep up with the needs of your customers 24/7, chatbots make the job easier.
This is one of the most utilized and popular AI technology in the business world today. It helps to analyze, identify and extract valuable insights from the big data. When you have more accurate results, you have more chances of having business growth. Machine learning helps you to provide personalized customer services, improved tasks, and finance management. They also help to predict customer behavior and build stronger marketing strategies for your business.
Image recognition is also one feature that can be used to increase customer engagement. It can simply be implemented in a mobile application to process the identification and detection of an object in an image or video. With image recognition technology, businesses have simplified processes like license plate identification, facial recognition, diagnosing of disease, etc.
How Does Artificial Intelligence Help Businesses
There are lots of benefits that artificial intelligence offers to businesses. Some of the most prominent ones are listed below;
Reduce costs and streamline operations
With the help of AI, systems can replace human workers and reduce the cost of payments. According to Mukherjee “AI-driven systems can replace human workers and thus reduce costs. “Business automation helps streamline processes, improve collaboration, decrease labor cost, and improve customer and employee satisfaction”
Life is made easy with the help of robotics and AI. These technologies can do jobs such as security, courier deliveries, and room services in hotels. Jobs that are repetitive, difficult, or hazardous can now be done by robots.
Another area in which these technologies can help your business is the area of security. It can help you identify the behavior of potentially malicious software programs. The identification is very relevant today for cybersecurity.
Detect and prevent fraudulent transactions
As time goes on, financial systems are beginning to use AI to detect fraudulent activity.
According to Mukherjee “The AI software is given a large sample of data which includes both fraudulent and genuine transactions. After that, it is trained to determine whether a transaction is genuine or not, based on the large data sets. As time progresses, the AI software becomes an expert at detecting and preventing fraudulent transactions”
Provide customer support
AI is particularly useful in the customer support of many institutions. Many eCommerce sites’ chat functions allow customers to interact with support and sales representative of the business.
Mukherjee further elaborated that “In most instances, the AI-based chatbots initiate conversations with the customers. The chatbots realistically simulate human conversations through AI. Thus, they provide superior customer service and reduce operational costs”
This is one of the important uses of the OCT, Optical Character recognition tool. AI uses OCR by improving accuracy and adding certain features like categorization and tagging. In this way, it helps businesses to solve administrative and document management problems.
Recognize faces and detect objects
The ability of machines to recognize faces and detect objects has become very coveted in the business world. With AI, these features are getting better every single day. AI can recognize faces and match similar objects together. Facial recognition is used by businesses to increase security.
With the help of AI recommendation systems, data can be captured from multiple sources to learn about users’ characteristics like shopping patterns, likes, and dislikes. With these systems, companies can have a better understanding of their consumer’s shopping behavior.
Analyze data and match patterns
Most of the volumes of data most times cannot be analyzed with mere human eyes. This is where technology has a very good impact. With the help of AI, a large amount of data can be analyzed. With the help of this advanced capability, businesses can improve their inventory and warehousing systems and streamline their logistics and shipping.
AI Tools Which Companies Need to Build for The Advancement of Business
If you want to infuse AI into your business, it is advisable to look out for the following tools.
- Machine learning abilities
- Natural language processing capabilities
- Expert systems
- Vision capabilities such as image recognition
- Speech capabilities such as text-to-speech conversations.
Frequently Asked Questions
How Does AI Help Business Intelligence?
With the help of AI, businesses can now better comprehend the value of tiny components within a very broad picture. When there is a problem with insights, BI can analyze and visualize huge data but not foresee trends and provide real-time insight in its current iteration.
How Does AI Help in Business Growth?
With the help of AI, businesses can now collect and connect data to provide insights that help create successful marketing campaigns.
Is Business Intelligence Part of Artificial Intelligence?
BI and AI are different but complementary. The intelligence in AI refers to computer intelligence, while that of BI refers to the more intelligent business decision-making that data analysis and visualization can yield.
Why Is AI Analytics Important?
AI analytics can help all types of companies. From eCommerce outfits for fintech startups and Telcos. With the help of AI, they can make better decisions for their new business models and contribute to three pillars of business success; increasing revenue, controlling costs, and giving out a high-quality user experience.
Is Machine Learning Useful for Business Analytics?
Machine learning is the necessary piece required for truly self-service BI tools. With machine learning implementations, BI tools will not only enable deeper insights into data but also empower business people to take analysis into their own hands.