Artificial intelligence is a recent technology but it is already changing the way that companies and people relate inside the business world. Even though it is present on a daily basis, many people still do not understand what AI means and what it can offer to society. So we’ve separated some of the advantages of using artificial intelligence in business so you can start preparing to invest in this growing technology.
What is Artificial Intelligence
When talking about Artificial Intelligence, what usually comes to people’s heads are robots and technologies like SIRI. But, in fact, AI can cover much more than that, such as Google’s algorithm or technology that predicts changes in the stock market.
Today´s trend is for Artificial Intelligence to increasingly occupy people’s places in very operational and non-strategic tasks, as well as having a projection to grow to the point where we can overcome many of our abilities.
According to a BBC study, this market is expected to reach $ 15.2 billion by 2019. The idea is to make you reach your goal faster, more intelligently and intuitively. And this can translate into many business advantages.
5 Advantages of Using Artificial Intelligence in Business
Optimizing processes and increasing productivity is one of the main advantages that Artificial Intelligence can offer to businesses. At a lower cost than personnel costs, machines can take on a variety of activities, as they are able to read, absorb, and interpret a lot of information.
For example, it is possible to do a much more detailed and fast inventory control, and technology can use the data to tell you which products should get the most investment and which products should be discontinued, as well as avoiding large commodity losses or lags in the product’s safety stock.
If on one hand, Artificial Intelligence can end many jobs, on the other it creates the demand for many professionals, because this technology needs people to create, develop, operate and control, and this will also require a lot of study and qualification for professionals in the technology sector.
Including, according to Gartner, about 2.3 million jobs in 5 years related to Artificial Intelligence. It is a great opportunity to explore new moments in the labor market, technology, and society needs.
It is still not common to see many companies using Artificial Intelligence at their full capacity. And using this technology to collect and analyze data that can be used in decision-making, which can make all the difference in the company’s performance. That’s because with Big Data it becomes easier to understand your customers, your market and therefore identifies opportunities and threats and anticipate them.
Today, there are already several ways to collect data and get to know your audience better, and your company must take advantage of this technology in its strategies, raising the level of competitiveness.
The above-mentioned data collection can be very helpful in creating a personalized experience for the customer. This is because it becomes possible to identify the preferences, habits, opinions, and level of interest of the consumers by your company and service, and with this information, you can personalize communication with the objective of having more chances of sales.
In addition, there are several ways to use IA to better serve customers. An example of this is the chatbots, which are programmed to understand and answer a series of questions about the company, leaving the customer satisfied with the assertiveness of information and speed of response. According to Chatbots Magazine, using this tool helps reduce customer service expenses by up to 30%.
Security is also a big advantage of Artificial Intelligence. The ability to securely and effectively protect your customers’ data can make all the difference to your company’s reputation, not to mention the fact that it is necessary to comply with LGPD (General Data Protection Act).
There are other advantages when considering security, such as programs that can identify and predict crimes in certain regions and times, facial recognition of suspects and culprits, and others.