5 Artificial Intelligence (AI) Trends Shaping the Business Landscape

Artificial Intelligence (AI) has changed the way businesses operate. This powerful technology has opened doors to incredible opportunities. With the integration of Artificial Intelligence in businesses, the economy is expected to improve and grow exponentially in the next few years.

Even though the introduction of AI into corporate strategies is considered a revolutionary idea, what most entrepreneurs struggle with is the application of AI in such a way that generates maximum value and ROI.

AI is already infiltrating today’s working routine in a few different ways. You may not have robots at your firm, however, you are definitely benefiting from technology that collects and interprets data, makes sense of what is happening, makes recommendations, and more.

More than 80% of businesses see the use of AI as important to competitiveness, while others see it as transformative. According to the Global Trend Study, AI’s impact will be in marketing, customer service, finance, and HR.

Entrepreneurs and business administrators must step past their comfort zone and take a leap of faith into this new world in order to keep up with the trends, as well as, the ever-changing world of technology.

Here are five trends that are already changing the way we work and will have a huge impact on the working environment in the near future.

  1. Automated Customer Experience

As technology keeps on improving, businesses who have the ability to satisfy customer needs will enjoy a competitive advantage over those who don’t.

Companies already collect a huge amount of data from customers, their purchases, browsing habits, in-person visits, customer-service inquiries, and more.

In some brick-and-mortar stores, facial-recognition technology is already implemented and used to profile customers, track their movements, identify VIP shoppers so a customized experience can be offered to them.

In the UK, 59% of fashion retailers use some form of facial recognition. It is pretty impressive, right?

There is so much data and after some time it is becoming difficult to know what to do with it.

Well, this is where Artificial Intelligence comes in. AI can use the data to solve customer-related issues or anticipate issues before they happen.


  1. Machine Learning Will Help Knowledge Workers

While some people are concerned that technology or in this case, AI will put people out of work, AI also has the ability to help workers, especially those in knowledge.

For example, tools like Chorus, Gong, and Jog are able to record calls made by customer service representatives.

This modern technology can teach customer-facing service employees to speak more professionally and effectively and all thanks to machine-learning algorithms.

By the end of 2019, you can expect AI to support while-collar workers.


  1. Automated Resource Management

We can all agree that figuring out team schedules is not easy. You need to weigh the impact of new projects, consider current priorities, assign various tasks, and keep everyone busy.

It takes a lot of effort and concentration, dozens of emails, a few hours time, and scheduled meetings.

What if I tell you that AI could simplify this process for you?

Workfront, for example, introduced AI-enabled resource management within its management software. The tool will automatically allocate tasks to those who are available, giving you the final say whether or not you approve.

You will reduce distractions, be able to say yes to the right project at the right team, and keep team productivity in balance.

This protects successful companies from getting overloaded with unnecessary projects while underperformers to take action and set up their game.


  1. Using AI in Digital Marketing

Digital Marketing has been one of the biggest benefactors of AI. Digital marketing has made a few leaps since AI was first introduced, transforming it from the basic forms to a much calculated and refined source of propagation.

Google’s investment in AI algorithms has helped it automate its online marketing standards for paid and organic marketing. With the newest updates, Google AdWord Manager will no longer require human campaigns and will generate ads by itself. This will reduce management and allow businesses to create their digital strategy with ease.


  1. Website Personalization

Whether a business serves a B2B or B2C customers and whether its services are digital or web-based, the importance of any website can’t be overstated. Website personalization is predicted to change everything.

So how exactly does AI fit in here?

Well, you can monitor your website analytics and enable content customization every second of the day.

Not all website personalization is created equal. Machine learning and algorithmic personalization are used by 20% of companies. This is also known as 1-to-1 marketing.

Algorithmic website personalization is new for many businesses. If 30% of the businesses say they have plans to use this tactic in the near future and stick to that plan, that will represent almost a 50% increase over the previous year.

 

I myself, am looking forward to seeing more improvements in AI, automation, and machine learning. I would love to let go of repetitive and boring tasks and focus on exciting and unpredictable projects only a human can do.