Artificial Intelligence has had a significant impact on the business world. What started out as a rule-based automation system can now mimic human interactions and behaviours. An advanced AI algorithm outperforms human counterparts in terms of speed and capacity at a fraction of the cost. Because of technological advancements, we are already connected to AI in some way, whether it is Siri or Alexa (RIP Cortana).
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Although the technology is still in its infancy, more businesses are adopting machine learning, implying that AI products and applications will grow rapidly in the near future.
Here are a few examples of how AI is progressing today:
Marketing
AI-driven marketing makes use of technology to improve the customer experience. AI gathers a wide range of data on customer sentiment, transactions, journeys, and everything in between, and uses it to create machine learning and predictive algorithms on customer behaviour.
The goal is to create personalised content, recommendations, and communications in order to develop customer acquisition and retention strategies. AI promises accurate, quick, adaptive, and human-like decisions that will help save money, increase revenue, and improve customer satisfaction.
Healthcare
The health sector is recognising the importance of AI-powered technologies in next-generation healthcare technology. Artificial intelligence (AI) is thought to have the potential to improve every aspect of healthcare operations and services. The economic benefits that AI can bring to the healthcare sector, for example, are a major motivator for AI adoption.
AI-based innovation will be critical in assisting people in maintaining their well-being through continuous tracking and coaching, as well as ensuring earlier diagnosis, personalized care, and more efficient reassessments.
Analysing customer behaviour
The internet generates a massive amount of data that can be used to predict customer behaviour, but humans are unable to analyse it all. AI is the ideal solution in this case. It can give you a lot of information about your customers' preferences. Netflix is an example of how machine learning algorithms are used to recommend movies and shows to users.
(Edited by : Vijay Anand)
First Published: Dec 18, 2021 6:31 PM IST
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