Guest post by Natasha Lane, digital marketing & IT writer.
Neither AI nor automation are new players in the game – both have been around the block a couple of times, and both have proven their worth several times over.
However, there is much we have yet to grasp in terms of the ultimate potential of both practices. Add to that the fact that rarely has a technology caused so much upheaval as AI, and you’ll realize there is still a lot of educating, convincing, and showcasing left to do.
Let’s explore the connection between AI, automation, and enterprises, and how they can adopt this cutting edge tech – and more importantly, why they should.
The Use of AI in Enterprise Settings
According to a Gartner survey from 2019, the implementation of AI by enterprises has grown 270% since 2015 and was 37% up from 2018. While there’s no concrete data yet available for 2020, we can (with a reasonable amount of certainty) claim that the trend will exponentially increase.
The ways in which these enterprises use AI is varied, and telling of the potential artificial intelligence truly has.
Natural language processing, machine learning, deep learning, and computer vision are just some of the applications these companies have found for AI. Unsurprisingly, the majority of them claim AI has taken their business operations to a new level. However, the challenges faced by enterprises looking to implement AI solutions and automate their processes are twofold.
Firstly, there is a significant gap in the demand for AI and the lack of workers who are knowledgeable about the technology. A limited number of job seekers and employees have the skills and knowledge necessary for the successful setup of an AI-based system at an enterprise level, which leaves companies scrambling to bring on the right talent.
The second problem is much less innovative and surprising, and it has to do with the financial costs that come with the adoption of AI-based processes. The demand is high, and the manpower available scarce, not to mention the actual level of sophistication that implementing these processes requires. As a result, funding this venture into (post)modernity can be a challenge even for the highest echelon of businesses.
Some are solving the challenge through expansion finance, while others are reworking their yearly budgets to be able to cover the necessary costs. However, as AI has the uncanny power of significantly impacting a business’s bottom line, and the ROI it drives is often unsurpassable by any other piece of innovative tech, the investment is often worthwhile.
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What can AI do in Enterprise Settings
There are a number of ways AI can be put to good use in an enterprise. Let’s explore some of them, in no particular order:
Artificial Intelligence and User Experience
In 2020 and beyond, user experience is expected to become an even more important factor than it already is. A key player in both sales, digital marketing, and search engine optimization, user experience is a field that demands:
- juggling large volumes of data (that comes with the challenge of collecting said data beforehand)
- considering the personality and individuality of each user
- developing frameworks that work for different types of customers
On the whole, this is a task that was never well-suited to the human brain, and now it can be dealt with easily with the implementation of AI-based solutions and automated processes that can collect, categorize, and intelligently sift through piles of UX data, and come up with reliable solutions.
Artificial Intelligence, Personalization, and Automation
Personalization is another trend that has been changing the way we communicate with brands – and one that has caught on so much that not keeping up with it can cost any enterprise a lot.
One of the most basic uses of a combination of AI and automated processes in a feat of personalization is the chatbot: a simple tool (in the grand scheme of AI) that can nevertheless do wonders for conversion rates (and UX).
The best of chatbots will learn on the job, simulate human conversations in perfectly natural ways, and become an invaluable part of an enterprise’s customer service team. However, there is more than chattiness to the AI – its data-gathering capabilities nearly limitless, it can help drive personalized marketing campaigns. It does this by making targeting that much more precise and offering insight into information that would be nearly impossible for a human mind to find and interpret.
Artificial Intelligence, Automated Data Insights and Their Value
Going back to an old-school application of AI, let’s touch on data insights and its value. With the online world expanding at an unprecedented (and some would even say unexpected) rate, data sets are increasing in volume. They are no longer manageable without the helping hand of AI in the case of the largest enterprises on the market.
Pattern discovery and recognition, along with a general understanding of how things are connected, is something codes and processors have always performed better at than humans. And when the data sets are as large as they are today, only an AI can manage to cope with them.
Modern marketing, business, and production are all driven by large volumes of data. In a world as interconnected and developing as ours, staying ahead of the trends and combating a large number of competitors has become a data-fueled mission.
AI has the power to drive these missions with ease, providing unsurpassable access and insight – that can drive anything from a local marketing campaign to the expansion to a new market.
“Should enterprises invest in AI and automation?” shouldn’t be the question we are asking.
The question should be “How can enterprises best utilize AI and automated systems to improve their internal processes, their marketing campaigns, and their overarching business model?” – and we should be asking it with increasing urgency every day.
Dan Brown (an author who has already covered many burning topics in his thrilling works) has lately dealt with the subject of the future of mankind – and his prediction is that we will become one with technology, merging into a higher being. In fact, the merge has already happened, as technology had already become an integral part of every aspect of our lives.
Instead of focusing on the apocalyptic future some have foretold is coming with the advent of AI, let us, for the time being, focus on the present, and how the AI we have birthed and taught can help shape our enterprises for the better.
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Natasha Lane: Natasha is a lady of a keyboard with a rich history of working in the digital marketing and IT fields. She is always happy to collaborate with awesome blogs and share her knowledge with the huge hope that someone out there will find it useful.