Although Artificial Intelligence is still in its nascent stage, a large percentage of enterprises worldwide have already embarked on their journey to use AI for doing better business. Research on Business Trends of Artificial Intelligence, reveals that almost 79% of global companies have already started experimenting with AI to tap its business benefits. (Source)
- Delivering further enriched customer experience
Customers, today, make informed buying decisions; and thus while reaching out to a brand, all they expect is a hassle-free experience in return. If your brand can impress them in the first go, then they are highly likely to be loyal to your brand in the longer run.
To further strengthen this factor, you can employ AI in personalized marketing. This will help in analyzing customer data on deeper levels and reveal the client-satisfaction index. In other words, you can get a better insight into their actual likes and dislikes to re-imagine your services and products.
- Renovating HR practices to create a better work ambiance
The best way to streamline key business processes like talent acquisition and workplace engagement of HR practices in your organization is to equip AI in the core strategy.
Biasness is bound to crop up in any organization where humans are involved, and that is why Artificial Intelligence seems to be the best means to regulate neutrality. For instance, it can prevent discrimination while screening potential recruits in a company. AI is incorporated in the HR infrastructure, it can eradicate every bias thereby enabling a healthy work culture.
- Optimizing business processes and enhancing efficiency
The power of AI is not only limited to automation of business processes but also the sustenance of business opportunities. Re-imaging Business with AI, it is not hard to ideate that soon, AI will carry out all the monotonous mechanical work roles which are now performed by human resources. That would help in augmenting human functions, allowing them to focus on other areas of the business that can further the revenues. So overall, AI will help in lowering overhead expenses, and in promoting efficiency.
With the power to redefine businesses to make them more profitable, more and more businesses are adopting AI-enabled technologies today. Experts believe that at this rate, it is expected to reach a market valuation of about USD 190.61 billion by the end of 2025.
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