How artificial intelligence and machine learning will transform traditional businesses in 2023
If you look at your daily activities, you can see the effects of artificial intelligence (AI) and machine learning (ML). Did you notice the accuracy of your personalized recommendations when searching for videos on YouTube or Netflix? How do you know what you like? Or maybe you’re going to a new store and you don’t know where it is. So you look at Google Maps to find it. Have you ever wondered what makes this program so effective?
These are just a few of the ML and AI technologies we use in our daily lives. Companies are taking advantage of these trends to implement new technologies that make their businesses more efficient and increase customer loyalty. Here are some of the ways ML and AI (artificial intelligence development services) can transform traditional businesses.
Machine Learning For Business Predictions
Today, most companies rely on data science to make smarter business decisions. Large companies that generate large amounts of data need something to make the process of data selection and filtering more efficient.
ML gives companies the ability to conduct complex statistical operations in a matter of minutes. Therefore, companies can analyze patterns, detect trends, and spot errors in their dataset efficiently. Most companies are now leveraging this trend to analyze customer behavior to come up with the best strategies.
AI-Driven Biometric Security Solutions
Biometrics is no longer a science fiction novel. Today, an increasing number of companies are using biometric solutions for security. Companies like Xiaomi are now implementing this trend on mobile devices with AI-powered facial recognition technology. And if you’re wondering if a human can imitate a human face and unlock a security system, don’t worry. Most companies that implement this trend went through multiple tests to avoid failure.
But this is not the only example of biometric technology being used in electronic devices. If you’ve ever used the latest version of Alexa, you’ll notice that it recognizes voices from different speakers and provides personalized responses to each speaker. This is a major innovation in our security system, and it’s all powered by ML and AI technology.
Customer Relations & Personalization
Remember what we commented above about YouTube and Netflix? Personalization is just one of the significant changes machine learning has brought to the way companies communicate with their customers. This process is done using ML and sentiment analysis. What it does is analyze user habits, behaviors, and tastes through data provided by viewers. Then YouTube and Netflix can easily suggest what you want to watch.
But this isn’t the only ML and AI application in business-to-people communication. One of the most vital areas of digital marketing is customer service. However, the need to have a vast team to reply to messages has dropped. Thanks to ML and AI, chatbots can handle the high load of messages and queries from customers. The best thing is that they’ll be available to customers 24/7.
In Conclusion
ML and AI technology can surely provide more efficiency to most companies, no matter their field. Automation will also reduce costs that they could otherwise spend on salaries and staff.
However, the initial investment is quite high for most AI-enabled devices, but the revenue will be higher due to the many benefits that the technology brings. This does not mean that AI and ML will replace humans in the workplace, but it will help people be more efficient and achieve their business goals.
If you’re looking for artificial intelligence (AI) and machine learning (ML) services and solutions, contact the team at My Web Programmer for a free consultation.
