Artificial Intelligence (AI) is considered to be one of the most significant disruptive technologies today. More and more businesses are already realizing its benefits. Gartner’s 2019 CIO survey revealed that the percentage of companies implementing AI increased by about 270 percent over the last four years, and 37 percent in 2018 alone.
Leveraging the power of AI to enhance your existing business applications isn’t nearly as complicated as you might think. You don’t need a billion-dollar budget to implement AI-powered applications. In fact, small and midsize businesses (SMBs) today are cutting costs and delivering great customer experiences with AI-powered applications—and they are competing with giant companies at scale.
Here’s a look at how you can enhance your existing business applications with AI:
Enhance CRM Apps with AI
Incorporating AI into your current Customer Relationship Management (CRM) system, for instance by using chatbot or automated live chat support, will allow your company’s helpdesk to provide better, faster and more dynamic responses. It will also help you reduce the man-hours needed to resolve queries and help you build better engagement and customer trust. And because the AI-powered CRM system provides predictive insights, you can automatically recommend similar products or services a customer may be interested in.
Related Reading: Unconventional Ways Artificial Intelligence Drives Business Value
Streamline Supply Chain with Machine Learning
Machine learning (ML) allows your system to discover patterns in the supply chain data using algorithms that automatically identify the factors that contribute to the success of your supply networks, while constantly learning in the process. ML algorithms and the applications running them can analyze large, varied data sets in no time, improving accuracy in forecasting supply and demand. If applied correctly within your SCM work tools, ML could revolutionize the agility and optimization of your supply chain planning.
AI-Powered Recruitment Apps
Artificial Intelligence is expected to replace 16 percent of Human Resource (HR) jobs within the next 10 years, according to Undercover Recruiter. Integrating AI into your existing recruitment processes or tools could help your company’s HR department find the right candidate or the best fit faster and easier, thereby saving you time and money. AI-powered video interview tools, for instance, can utilize biometric and psychometric analysis to evaluate your applicants’ tone of voice, micro-expressions, and body language.
Related Reading: AI To Solve Today’s Retail Profit Problems
Improving Cybersecurity System with AI
Given the data breaches and cyber-attacks that have hit headlines in recent years, integrating AI into your current security system is vital to protect consumer data, improve trust and deliver true business value. About 71 percent of companies in the US plan to spend more budget on AI and machine learning in their cybersecurity software this year.
AI not only improves your company’s existing detection and response capabilities but also allows new abilities in preventive defense. It enhances and streamlines your security operating model by reducing complex, laborious and time-consuming manual inspection and intervention processes. Because the AI-powered cybersecurity system can self-adjust and learn data over time, you can automatically detect and block cyber-attacks and fraud.
Enhancing Space Exploration with AI
Another area where the application of AI has great potential is exploring outer space. NASA has plans to look for life on other planets, such as Mars, in the very near future. In their Mars 2020 initiative, they will use AI to explore Mars in greater depth, which includes looking for alien lifeforms. Most of us are at least slightly familiar with or aware of NASA’s Opportunity rover, which wrapped up a 14-year Mars mission when it quietly went dark in February 2019. Opportunity, also known as “Oppy,” found evidence that Mars at some point was home to water — a huge discovery.
Going forward with Mars 2020, NASA’s Mars Exploration Program will continue its use of AI for space exploration. In ongoing efforts to evaluate whether Mars is (or was at some point) habitable for humans and other animals, the Mars 2020 rover is equipped with a drill it will use to collect samples of rock and soil. It will store these samples in special tubes that will be collected by a later NASA mission. Read more about the artificially-intelligent robotic arm that will make it all happen.
Taking Your Existing Business Applications to the Next Level with AI
New AI frameworks and tools make provisioning AI capabilities more feasible than ever before. Working with a development partner who has the data science and AI technology experience, creating or updating a business application with AI can be started rapidly, take less time to code, and the resulting application placed into service sooner. Nor would it be necessary to staff for these hard-to-find resources for the long term.
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