The use of AI in business is showing signs of gaining momentum. It has become a crucial part of several businesses. Enterprises, big or small, deploy AI to carry out tasks, including analyzing consumer behavior, removing bugs, enhancing efficiency, and more. Here are the top 7 business uses for AI and their advantages.
Using AI to Improve Customer Experience, Support & Service:
One of the most common AI use cases in an enterprise revolves around customer experience, support, and service. AI also underpins
recommendation features, which use consumer data and predictive analytics to offer products that customers are most likely to need or want and therefore purchase. Additionally, intelligent systems can assist employees in providing better customer service by using analytics akin to those found in chatbots and recommendation systems by making suggestions to them as they attend to clients.
AI-based Targeted Marketing:
To choose adverts for specific products that customers are most likely to want or need, online search providers, online retailers, and other internet-based businesses employ intelligent systems to understand consumers and their buying behaviors.
AI also aids companies in executing targeted marketing in the real world. Some businesses have begun fusing analytics with intelligent technology, such as facial recognition and geolocation software, to identify potential customers and market products, services, or sales designed to match their preferences.
Better Supply Chains:
Businesses from all sectors uses AI to manage their supply chains better. They are forecasting what will be needed, when and the best time to move supplies using ML algorithms. AI assists business executives in building more cost-effective, efficient supply chains by reducing, if not
eliminating, overstocking and the possibility of running out of in-demand products.
Between 2020 and 2024, 50% of supply chain organizations will invest in applications that support AI and advanced analytics capabilities, according to the tech research and consultancy firm Gartner.
Smart Operations:
AI is becoming more integrated throughout the organization as business process application developers include AI-enabled capabilities in their software solutions. Retailers are embracing AI at the same time for intelligent product selection, store design, and monitoring of in-store activity. Some employ AI to track shelf inventories in several ways, including the freshness of perishable goods.
Safer Operations:
Several businesses are leveraging AI to increase safety. Data is collected from endpoint devices like cameras, thermometers, motion detectors, and weather sensors by construction businesses, utilities, farms, mining interests, and other organizations working on-site in outdoor locations
or large geographic areas. Companies can use these systems to identify risky situations, problematic behaviors, or business possibilities, and then they can offer recommendations or take corrective action. The use of AI-enabled software programs to monitor safety conditions is becoming more common in other industries.
Similarly, businesses of all sizes may utilize AI to process data collected from local IoT ecosystems to monitor workers or infrastructure. In these situations, intelligent systems keep an eye out for risky situations and warn businesses about them, such as delivery truck drivers texting while driving.
AI-powered Quality Assurance & Control:
Machine vision, a type of AI, has been used by manufacturers for decades. They are now expanding this usage by combining quality control software with deep learning capabilities to improve the effectiveness and precision of their quality control operations while keeping expenses in check.
Deep learning models provide a more precise and constantly improving quality assurance function as they refine their criteria for determining what qualifies as quality.
AI for Optimization:
Another application of AI that crosses sectors and job functions is optimization. AI-based business apps can employ modeling and algorithms to transform data into insights that can improve many organizational operations, from worker scheduling to product pricing.
