The Future of Business and AI: What We Should Expect Instead of Fear
Many of us like to use the internet and our phones. We enjoy it. It’s a wonderful piece of technology that allows us to connect with our friends and family, look up any information in a matter of seconds, and even turn on the devices with just a voice command.
But when it comes to AI, the automatic response of fear. Thanks, Hollywood. It never runs out of movies where smart robots revolt against humans or that the smartest AI technology turns on its human creator and decide that it’s good.
Reality is way different from that. For one, AI is not as sophisticated as Hollywood movies portray them to be. Yes, it already exists, but it works in ways where we don’t even notice it. That response you got from your favorite brand’s website live chat might even be an AI chatbot. But does that make you crawl in fear? Not really.
If anything, it makes you feel excited knowing that your queries get answered right away instead of waiting on a live human to think of a proper response. It’s more convenient, and you get things done in a matter of minutes.
And that’s just one of the ways that AI is making business transactions easier for us humans. If you run a business and you’re curious about where AI is headed, here are some things you can expect from it. Hopefully, it gives you a more positive outlook of the technology instead of fearing it.
We all know that consumers like personalization. If you already employ this strategy in your business, things are just about to get better because with AI, you can automate it and make the experience more tailored for the customer.
Take the app Spotify for example. Don’t be surprised if you find yourself tuning in longer to its recommendations. It can provide almost accurate suggestions of artists and music you might like because it uses AI. The technology looks at previous music you’ve listened to, which ones you’ve favorited and makes recommendations based on that.
And the best part is that AI gets smarter over time. It learns each time you feed it data, and it’s just going to give more refined results.
There are several things that we are now able to automate thanks to technology. But AI can make that even better. Unlike regular automation tools, AI can apply judgement to the data it is processing. What was once reserved only for humans can now be left to artificial intelligence.
For example, let’s say you automate the task of filtering out customers, collecting only the most valuable ones to add to your list. Later on, you find out that the machine has been incorrectly removing good ones as well. With AI, you can fix the error as it notes the elements it is missed and then applies that to future tasks to avoid making the same mistake.
Better Data Insights
AI thrives on data. As mentioned earlier, the more data it receives, the more it thrives. AI will allow your business to look into customer data you may have not considered before. AI can make connections with one set of information and the other, which can help you make better decisions.
Let’s say you’re trying to figure out why your customers are unsubscribing from your newsletters. Using machine learning, AI can look into various data sets and find out the common denominator causing people to remove you from their emails. With this data, you can make tweaks to your strategy and make your business stronger.