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5 Applications of AI in Business Today

Artificial intelligence is tipped to disrupt businesses massively and clinch the technology-of-the-decade accolade at the end of the 2020s. That means one thing – your business needs to take up the technology now if it’s going to keep pace with the market leaders.

You are probably wondering, “How can I incorporate artificial intelligence into my business operations?”

“Wait, do I even need the technology?”

You need the technology, and here are some of the ways it can be useful to your business:

1.   Cybersecurity

Cybersecurity issues have been on an exponential upsurge over the past couple of years. That is not bound to change, and the best counteractive option security experts have at the moment is to stay ahead of the hackers. That’s what artificial intelligence is going to do – only more accurately and without much human involvement. AI systems can monitor end-user behavior and patterns to detect vulnerabilities and project security threats.

2.   Marketing

Digital marketing is requisite to success in today’s high-paced corporate world. Artificial intelligence has been used in this area for quite some time now, but exploration is still on-going.

The technology is being used to track individual users down the sales funnel to perceive patterns and assist in the development of personalized emails, ads, and coupons. Regardless of the size of your business, artificial intelligence can be a big part of your marketing strategy. An AI company such as https://www.aidatainnovations.com/ can help you develop an AI system and incorporate it into your marketing strategy.

3.   Customer service

If you have seen a chatbot pop up at the bottom of a webpage and wondered how it works, that’s artificial intelligence in action. Through machine learning, businesses can categorize commonly asked questions and create brief answers, which the chatbox can provide every time a question is asked.

4.   Fraud detection

Artificial intelligence is being used by banks and other financial institutions to detect malicious acts in various credit card transactions. The technology is provided with massive data sets of both genuine and fraudulent transactions and made to learn patterns associated with fraudulent transactions. Every time there is suspicious activity, the system notifies the company’s cybersecurity team.

5.   Market predictions

The survival of your business in the market is largely down to your preparation for future changes in aspects such as customer preferences and competition. With the help of past consumer behavior and third-party data sets, AI algorithms can detect patterns and use them to predict the future.

Understandably, projecting future behavioral patterns can be difficult; there are several new technologies and operational techniques emerging every day. This is plunging the corporate world into a state of volatility. However, whether AI gets its predictions right or not, your business receives another high-likelihood possibility to ponder and prepare for.

Conclusion

Artificial intelligence is the future, and the future is nigh. This is the perfect time to set up artificial intelligence systems and start making better use of the tons of data available to you. The above are some of the ways your business can use the technology to enhance service delivery and spread its reach.

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BIZCATALYST 360°
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