Sign In
Small logos Small logos
  • Home
  • Technology
    Artificial Intelligence
    Big Data
    Block Chain
    BYOD
    Cloud
    Cyber Security
    Data Center
    Digital Transformation
    Enterprise Mobility
    Enterprise Software
    IOT
    IT Services
  • Platforms
    The New Google Algorithm Update for 2021
    Google algorithm update for 2021
    Google

    Google is continuously making improvements to its algorithm and how websites are ranked on its organic search results page. This…

    5 Min Read
    Oracle Cloud Platform Now Validated for India Stack
    Service-Partner-Horizontal
    Oracle

    ORACLE OPENWORLD — Oracle today announced that the Oracle Cloud Platform has been validated to develop applications using India Stack…

    3 Min Read
    Oracle and AT&T Enter into Strategic Agreement
    Oracle

    Oracle today announced that AT&T signed an agreement to move thousands of its large scale internal databases to Oracle’s Cloud…

    3 Min Read
    IBM and Andrés Cepeda introduce First ‘Cognitive Music’ Project in Latin America
    IBM-Watson
    IBM

    IBM (NYSE: IBM) and Grammy-winning Colombian singer, songwriter and producer Andrés Cepeda will partner to collaboratively compose the artist’s next…

    3 Min Read
    Alpine Consulting Launches New eCommerce Website for Dana Rebecca
    IBM

    The new website will provide clients with the ability to more easily browse the latest innovations and designs in the…

    2 Min Read
    Check out more:
    • Google
    • HP
    • IBM
    • Oracle
  • Industry
    Banking & Insurance
    Biotech
    Construction
    Education
    Financial Services
    Healthcare
    Manufacturing
    Mining
    Public Sector
    Retail
    Telecom
    Utilities
  • Functions
    RISMA Systems: A Comprehensive Approach to Governance, Risk and Compliance
    Risma Systems
    ENTREPRENEUR VIEWSGDPR

    RISMA Systems was founded in 2014 by Lars Nybro Munksgaard, who initially developed a system that helped accountants and lawyers…

    9 Min Read
    Happiest Minds: A “Privacy by Design” approach is key to creating GDPR compliant businesses
    Happiest-Minds
    GDPR

    We are currently living in two different worlds – the digital world and the physical one. One day the twain…

    8 Min Read
    Gemserv: GDPR 2020 and Beyond
    Gemserv
    GDPR

    As a professional services business operating in a world driven by data and technology, Gemserv like many businesses,  finds itself…

    9 Min Read
    ECCENCA:GDPR IS STILL AN UNTAMED ANIMAL
    GDPR

    Enterprises often restrict their privacy management strategy to customer data only. Though it is the personal data of employees, spread…

    6 Min Read
    Boldon James: HOW ENTERPRISES CAN MITIGATE THE GROWING THREATS OF DATA
    GDPR

    As we fast approach the second anniversary of the implementation of GDPR, the impact it has had on businesses and…

    8 Min Read
    Check out more:
    • GDPR
  • Magazines
  • Entrepreneurs Views
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Reading: Understanding the Capabilities of AI in Business
Share
The CEO Views
Aa
  • Home
  • Magazines
  • Enterpreneurs Views
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Search
  • Home
  • Technology
    • Artificial Intelligence
    • Big Data
    • Block Chain
    • BYOD
    • Cloud
    • Cyber Security
    • Data Center
    • Digital Transformation
    • Enterprise Mobility
    • Enterprise Software
    • IOT
    • IT Services
  • Platforms
    • Google
    • HP
    • IBM
    • Oracle
  • Industry
    • Banking & Insurance
    • Biotech
    • Construction
    • Education
    • Financial Services
    • Healthcare
    • Manufacturing
    • Mining
    • Public Sector
    • Retail
    • Telecom
    • Utilities
  • Functions
    • GDPR
  • Magazines
  • Entrepreneurs View
  • Editor’s Bucket
  • Press Release
  • Micro Blog
Follow US
© 2022 Foxiz News Network. Ruby Design Company. All Rights Reserved.
The CEO Views > Blog > Technology > Artificial Intelligence > Understanding the Capabilities of AI in Business
Artificial Intelligence

Understanding the Capabilities of AI in Business

CEO
Last updated: 2021/08/14 at 10:40 AM
CEO
Share
AI in Business
SHARE

The business world is embarking on a new era. Businesses are using artificial intelligence (AI) to revolutionize their business strategies and, in some cases, even their businesses themselves. By leveraging AI technologies, businesses can improve operations that include the areas of online marketing and advertising; sales; customer service; and more. This article will discuss what you need to know about the capabilities of AI in business.

Online Marketing and Advertising

By using AI, businesses can target potential customers with advertisements that match their interests. Due to the algorithm-driven recommendation programs that are now being used by many online sites, companies can direct their advertising campaigns to users who are likely to engage with the company’s products or services. The power of AI analytics will allow companies to develop better models of what online advertising works best and where it should be placed. A new form of AI-powered programmatic advertising is being used as a supplement to existing display advertising campaigns.

The vast amount of data that these programs collect allows marketers to analyze consumer reactions and the effectiveness of their campaigns. This type of AI has been successful in eliminating human error, allowing for the more efficient data collection on marketing strategies.

Banking and Finance

It’s no secret that financial institutions are heavily invested in AI technology, using it for everything from trade execution to fraud detection by analyzing large amounts of financial data. Banks are implementing systems that can understand voice recordings from calls with customers, emails, chat messages or even customer service. As a result, when businesses use AI to build recommendation systems, they can improve their marketing efforts.

Internet of Things (IoT) and Cybersecurity

Since AI has the ability to process large amounts of information at once, companies that use AI with IoT devices can monitor all aspects of their operations in real-time. This makes it easier for companies to manage their cyber defences because threats are ultimately identified with more speed and accuracy than would be possible without the aid of an algorithm. In addition, AI can also be used as a threat detector on networks or machines by monitoring traffic flow and user behaviour patterns to identify potential security breaches and other malicious activity.

As automation technology becomes increasingly present in homes and businesses across the globe, organizations will need scalable ways to protect themselves from being hacked.

Healthcare

AI is already being used in the healthcare industry to analyze medical models and provide treatment recommendations. However, many companies are now incorporating AI into their business processes as a way of augmenting expert decision making.

As an example, doctors use AI algorithms that can process images from CAT scans or MRI results at speeds up to 200 times faster than humans. This allows physicians to better detect abnormalities even while dealing with large volumes of information.

Furthermore, AI is also being utilized by doctors to deliver patient care remotely through telemedicine monitors. In fact, some hospitals have already integrated smart devices into their operations. Wearable technology in the future will allow patients and health providers alike to access real-time data – such as heart rates or blood pressure – by simply tapping an app on their mobile device.

Manufacturing and Retail

Using AI in manufacturing allows companies to automate production. However, this goes beyond simply using bots to handle repetitive tasks on the assembly line: The technology can also be used to analyze the entire supply chain and improve efficiency in a way that has not been possible before. In addition, businesses are looking into ways to use robots as an interface between employees and automated systems, increasing employee productivity through better knowledge of effective procedures across all areas of their company.

Direct interaction with customers can be frustrating for many organizations due primarily to conflicts arising from misunderstandings or incorrect information relayed by support staff. By incorporating natural language processing capabilities into customer service chatbots, companies will have access to more advanced technology with which they can interact directly with clients on a one-on-one basis. Realizing that customers want to interact with businesses in a highly personalized way, AI assistants and chatbots are your next best bet for customer satisfaction and retention.

AI in Business

Purchasing and Supply Management

Many businesses use AI to identify suppliers and negotiate better terms as part of their purchasing process. This helps companies reduce costs and increase profits. Often, algorithms are used by buyers when they send RFQs (Request for Quotations) to vendors that have been screened based on relevant criteria such as pricing, shipping time or client references.

The algorithm will then further analyze the vendor responses based on pre-set preferences, process this information much faster than a team of humans and provide a recommendation back to Insight360’s proprietary AI technology platform. Once the business gets an idea about the product cost through its internal sourcing platform it can then request quotations from the top 5-10 vendors in order to gain maximum bargaining power while buying products from them.

Retailers such as Walmart are using AI to make purchasing decisions and even monitor the inventory of stores across the country.

Business Process Automation

The use of artificial intelligence has been instrumental in automating the basic tasks made by workers carrying out their daily activities. This helps companies save on staffing costs while also improving efficiency by freeing up employees’ time to work on more important objectives such as critical thinking, creative problem solving or other types of higher-value work.

Other examples include: Cytora – a system that automatically tracks cash transactions within an organization’s banking accounts; Tidio – a tool designed to assemble business documents from multiple sources into professional-looking templates; Sprocket – virtual assistant software that schedules meetings, tracks email and delivers instant messaging support; and SRI – software that helps businesses run efficiently by streamlining data entry for a variety of tasks within its platform.

Looking ahead, organizations should strive not only to implement artificial intelligence into their processes but also to train employees on how best to work alongside its software algorithms. Managers may need to rethink tasks carried out by staff such as data entry or customer service calls that are either repetitive or do not require human intervention at all. The goal of this would be for companies to provide workers with higher-value work instead of doing tasks that can be fully automated by AI.

CEO August 14, 2021
Share this Article
Facebook Twitter LinkedIn Email Copy Link
Previous Article Physical Therapy Top Trends in Physical Therapy
Next Article Buying a boat Buying Your Dream Boat? Here’s A Helpful How-To Guide
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Kerubiel: Next Generation Threat to Cyber Security Hackers

In the information society and the so-called data-driven economy, information…

April 21, 2020
Prakash Hosalli, CEO
Healthcare
Health outcomes are tightly coupled with socio-economic status

Several reports within the past few months including one from CDC on…

6 Min Read
Coronavirus Effect on IT
Data Center
The Effect of Coronavirus on Data Center of IT

With a continually evolving data center environment, IT professionals can address a…

5 Min Read
Computing improving Medical World
Healthcare
Cognitive Computing improving Medical World

It is no secret that the integration of technology has brought significant…

6 Min Read
Future of Cloud Computing
Cloud
Revolutionizing the Future of Cloud Computing by Intelligent Cloud

Technological developments have totally changed the world's function, making the future smarter…

4 Min Read

Skybridge Americas: Revolutionizing Customer Service With Talent and IT Innovation

Investing in customer experience has proven…

September 18, 2023

YELLOW BRICK ROAD: Unleashing Child’s Imagination With Unique Child Care Programs

Early childhood offers a critical window…

September 18, 2023

The ROI Of A Clean Workplace: Unseen Benefits Revealed

The ROI Of A Clean Workplace:…

September 18, 2023

PATRICK R. RICCARDS: Transforming The Teaching And Learning 0f American History

An exceptional visionary and dynamic leader,…

September 15, 2023

You Might Also Like

Importance of AI in Success of Digital Transformation Strategy
Artificial IntelligenceDigital Transformation

Importance of AI in Success of Digital Transformation Strategy

Digital Transformation is a topic of survival. Consumers want interactions that are better and easier, and they won't hesitate. Your…

7 Min Read
Artificial Intelligence vs. Human Intelligence
Artificial Intelligence

Artificial Intelligence vs. Human Intelligence

AI has come quite a ways from being a part of science fiction to reality. Today, we have a host…

7 Min Read
What is Symbolic Artificial Intelligence
Artificial Intelligence

What is Symbolic Artificial Intelligence?

With every passing day, Artificial Intelligence is gaining popularity. Development is happening in this field, and there are no second…

4 Min Read
AI is the Pharmaceutical Specialist in Drug Development
Artificial Intelligence

AI is the Pharmaceutical Specialist in Drug Development

When it comes to incorporating digital health technologies, the pharmaceutical industry is a late learner. Pharmaceutical companies have delayed the…

6 Min Read
Small logos Small logos

© 2023 All rights reserved. The CEO Views

  • About Us
  • Privacy Policy
  • Advertise with us
  • Reprints and Permissions
  • Business Magazines
  • Contact
Reading: Understanding the Capabilities of AI in Business
Share

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?