As AI technology is steadily improved and perfected, businesses are quickly incorporating it into their day-to-day routines. According to a recent study, 61% of businesses already use some form of AI to achieve business goals. In fact, many experts believe that given the pace AI is being developed, it will revolutionize the workplace as we know it. With all of this in mind, let’s take a look at some technologies that have already become mainstream in offices around the country and the world.
Voice and Image Recognition
There are numerous business applications of voice and image recognition technology. One of the basic uses is to transcribe meetings. Previously, someone at the meeting had to sit there with a pen and notepad and jot down what everyone said. The voice recognition software can accurately identify all meeting participants, record and attribute all statements that were made by each person at the meeting and transcribe the speech into written format. This saves a lot of time, money and hassle.
A more advanced use case of image recognition is to launch more effective and creative marketing and PR campaigns. This technology can allow you to monitor visual brand mentions and the emotion expressed towards your company. The information obtained will allow your marketing team to create more targeted campaigns and personalize the content to a much greater degree. If you were to perform something like this manually, it would take you hundreds of hours to complete and still you would not do a thorough job.
The image recognition technology mentioned above can provide your business with a lot of benefits, but it also takes a lot of work to create. One of the most time-consuming tasks is annotating all of the images that will be fed into the AI platform for the machine learning algorithms to learn. This is necessary so that the computer is able to identify the exact images you need. Mindy Support offers a comprehensive image and voice annotation services to companies who are working on developing such AI products.
A lot of businesses are using chatbots to start a conversation with people who visit their website. Not only do they save money on automating the chat, but this function is available 24/7, 365 days a year. Thanks to recent developments in AI, these chatbots can now handle even advanced customer inquiries. Also, it is more efficient than human workers in terms of finding information because it can search through a database within seconds and find exactly what is needed. This leads to a higher level of customer service and satisfaction with your business.
Just like in the previous example, the machine learning algorithms need to be trained to recognize not simply what the customer is asking for, but also the overall tone and the attitude as well. If the chatbot feels that the person is agitated, it will escalate the issue to a human representative who will try to further work with the customer to resolve the problem. This also requires a lot of text annotation so that the natural language processing algorithms can recognize the speech and take appropriate action.
Predictive analytics is playing a crucial role in businesses’ effort to attract, grow and retain their most profitable customers. AI is providing the capability to model extremely complex relationships because it is powerful enough to handle nonlinear relationships. This is absolutely critical for data analysis because very often there is no mathematical formula that would relate the input to the output.
Companies are using predictive analytics to make more informed business decisions, create more detailed forecasts, customize their service offering and many other uses. In fact, using predictive analytics can uncover a business advantage and help separate your business from the crowded playing field.
AI is Becoming More Prevalent
The use cases that were mentioned above are just some of the ways companies are using AI. Since it allows them to save so much time and resources, pretty soon AI will be something that businesses simply cannot live without. Therefore, it is better to get onto the AI bandwagon today, to be better prepared for the future.
Posted by Il’ya Dudkin