4 Examples of Real World Artificial Intelligence Implementation in Business
December 8, 2022
Artificial intelligence has no doubt become increasingly popular by today. The term refers to a computer software that enables machines to mimic human behavior. With AI, computers can perform tasks that are typically done by people, including processing language, problem solving, and learning. As technologies such as AI are being developed further, they will profoundly impact our quality of life.
The Rise of Artificial Intelligence and Machine Learning
What impact will it have on us? This question has been debated amongst the scientific community and no matter the outcome, we can’t neglect that artificial intelligence has dramatic effects on business practices. In fact, AI’s have the potential to outperform human performance but will not necessarily replace all of them.
4 Uses of AI in Business
Streamlining workflows and collecting business data are just one of many ways artificial intelligence can be beneficial for businesses. This article will look into some AI applications and the latest trends in the industries set to revolutionize businesses today.
1. AI in Sales
In most cases, sales are challenging especially in B2B. Closing deals are time-consuming and conversion rates are low. It’s not as simple as customers whipping out their credit cards and making a purchase. They need to be guided and validated. However, AI is not yet developed enough to deal with complex conversations and relationship building that are key components in sales. Instead, they are meant to serve as an assistant in the following:
- Automate repetitive tasks, such as collecting data, meeting scheduling, blasting emails and other manual tasks that do not require human interaction
- Process sales performance to gain deeper insights into customer behavior and buying habits
- Assist sales managers to assess which salespeople will probably meet their quotas and which remaining deals will be closed.
2. AI in Real Estate
Knowing that real estate revolves around human interaction to make and close deals, conversational AI would be an ideal solution for real estate businesses. Instead of dealing with the hassle of searching for an appraiser to know the value of a property, try for an automated valuation model (AVM). An AVM is a software-based tool that is used in real estate to determine property value. The role of an AVM is to deliver accurate evaluation of property values to e-commerce platforms and online retail websites. Once the value estimation is ready, you can start putting up your house for sale without needing to contact a real estate agent or arrange a meeting with potential buyers as they can see it from the website.
Real estate businesses can also benefit from AI to deliver customized experiences for customers since they are more likely to purchase a brand that offers personalized and unique experiences. For example, AI can provide customized recommendations for location and language to help identify which type of real estate they’re looking for online. This way, you can retain and convert more visitors to your website.
3. AI in Marketing
Artificial intelligence is frequently used in marketing campaigns where speed is crucial. They can learn how to best communicate with customers and deliver personalized messages at the right time without the presence of the marketing team, ensuring maximum efficiency.
With AI, companies can optimize their return on investment (ROI) by only placing ads targeted for relevant viewers. This is done by gathering big data analytics and other processes in order to get insights into your target audience. For example, many companies are using AI to personalize their websites, emails, social media posts, and videos to provide better customer experience.
4. AI for HR Department
Modern business practices have been altered by AI technology and this includes the HR Department. HR managers are able to manage their day-to-day tasks more efficiently by using the right tools, thus spending less time on manual tasks. AI tools can help HR managers to:
- Compile and evaluate thousands of shortlisted candidates in half the time
- Gather huge data assets
- Use social media to gather comprehensive information about candidates
- Efficiently manage employees, benefits, and leaves using an automated system
As a result, using AI tools leads to a faster work result and employees can also process large amounts of data quicker than manual processing.
To sum it up, we live in a world run by artificial intelligence and it has impacted both your personal and professional lives whether you realize it or not. With technology constantly progressing, there will be more developments to follow soon. You should look at artificial intelligence as a huge opportunity to improve business processes. If you are looking for ways to increase efficiency, improve customer experience, or redesign your website, we are here to assist you. With CLADE, we can simplify the digitization process and fully manage all-in-one service tailored to each customer. Let’s start building a digital world together!