How Artificial Intelligence Affects Businesses Now And In The Future

artificial intelligence technology impact business ai tech future

Artificial Intelligence, or AI for short, is a fancy term that makes you think of robots, super techie stuff, and whatnot. While it still has those elements, you’ll be surprised that AI has so many everyday applications. One of those areas that we’re talking about is business. You may not have realized it, but AI is improving and helping businesses now and leaves a lot of room for improvement in the future. 

What Is Artificial Intelligence? 

Before delving into the main topic, let us first define what Artificial Intelligence is. It is the science of creating machines, computers, or robots to perform tasks usually done by humans because it requires thinking and discernment. 

Examples of artificial intelligence in everyday use are chatbots, virtual assistance services, medical imaging analysis, search engines, and information extraction, just to name a few. If you are asking Siri about the best restaurants in the area or telling Alexa to turn the lights off, you are using Artificial Intelligence. See, AI is practically everywhere! 

How Artificial Intelligence Is Used In Business 

A lot of industries could use the help of Artificial Intelligence, but the one area that we are going to focus on is business. It is encouraging to know that 1 in 5 North American business executives recognized the potential of AI to positively affect their businesses and decided to invoke the technology in their whole enterprise. 

Of course, this is not always easy, and it could cost a lot of money on your part. However, it wouldn’t hurt implementing AI elements in your office or your product distribution. 

1. Highly Personalized Content 

One thing that any consumer is a sucker of, it’s personalized content. If they can’t connect with the product, they’re out. According to a study, almost 80% of consumers expect businesses to understand their needs. 

So, how can Artificial Intelligence help you in personalizing content? It’s about gathering data and analyzing them. AI can help you collect massive amounts of data and analyze them easily. These include knowing who your audiences are, the content they prefer and read, the platform they mainly use, and so forth. 

2. Automating Small Writing Tasks 

No, don’t worry about it. There won’t be any machine takeover anytime soon. But if AI can do small writing jobs, it’s a good idea to delegate some of these tasks to free up more time in creating better content. 

In journalism, employing AI for writing tasks has already happened since 2015. The Associated Press published a short story on Finance entitled “Apple tops Street IQ forecasts. Believe it or not, you couldn’t have figured out that it was written by a machine. 

Aside from the Associated Press, the Washington Post also tinkered with article-writing robots and published over 850 articles using Heliograf, its very own automated storytelling technology. Once AI tech like these becomes cheaper and more widespread, it would save you lots of time which you can redirect to writing the more complex content. 

3. Enhanced Customer Experience 

Customer support has always been a critical part of any business. For now, chatbots are doing just fine considering their limitations, but improvements in the near future could be a game-changer. For many customers, it may as well be a lifesaver! 

How can AI help enhance your business’ customer support in the coming years? Well, if improvements on the so-called “sentiment analysis technology” come to fruition, it means you can respond to complaints and queries much more effectively by properly assessing the customer’s tone of voice. 

Well, right now, you may have integrated some elements of Artificial Intelligence for your customer experience strategy. No doubt the available technology right now helps you attend to customer complaints and inquiries even after the usual office hours. Customers remember those kinds of things and it can build trust and engagement. If it works relatively well now, imagine what it could potentially do in the future! 

AI Impact Conclusion 

Artificial Intelligence is here, not to replace humans, but to augment the work rate and help you work smarter. It is a necessary tool that can operate alongside people, especially doing repetitive tasks. 

Apparently, the AI technology is still improving, but it will play a bigger part in your business operations moving forward. Right now, it has already laid the groundwork as it takes over several aspects of your enterprise, such as gathering data about consumers or writing short stories or articles. Believe it or not, the AI tech evolution has only just begun.

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