Making sense of AI for your business
People are talking about Artificial Intelligence (AI) everywhere these days. News outlets are flooding us with great advancements on a weekly - if not daily - basis, and tech companies around the world are touting their products as AI, or AI-enabled. This hype has firmly established AI on the agendas of Executives across most industries.
Sure, all of these advances are doing wonders for their sector, but many people are asking “How does AI apply to my business?”
Artificial Intelligence is really just an umbrella-term for technologies aimed to simulate a human’s capability of thinking and logical deduction. To do that AI requires data - massive amounts of data, actually. Considering this, it’s not surprising that AI, despite its presence over the past few decades, is gaining momentum now that the world’s information volume is growing at never before seen rates due to the likes of smartphones and IoT devices.
But out of the roughly 3 Zetabytes of digital data worldwide (that’s 3 trillion gigabytes) less than 1% are currently analysed.
AI is about to change this because at its core it ultimately boils down to a superhuman ability to spot patterns in massive sets of data. If you think about it, that’s not unlike us humans who process billions of signals every day just by using our five senses.
Your Next Step? For most organisations it is predictive models and classification (powered by Machine Learning) that enable you to improve in areas like customer churn, cross-sell/up-sell, and customer satisfaction.
The other immediate opportunity is adopting a chatbot service that takes the load off your customer service centre, while allowing customers to engage with you 24x7 via channels that they are familiar with (social platforms like Facebook, SMS, Email). At Jade, we combine these two AI capabilities to enable personalised experiences that have your customers coming back for more.
In a world where customers have more and more power, adopting a customer-centric strategy is imperative. AI is not just optional anymore, it’s a requirement to stay in business.
Eduard Liebenberger, Head of Digital - Jade Software