The American Reporter
Wednesday, July 6, 2022
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
  • World
  • National
  • Science
  • Business
  • Health
  • Education
  • Lifestyle
  • Entertainment
  • Sports
  • Technology
No Result
View All Result
The American Reporter
No Result
View All Result

How AI And Machine Learning Will Revolutionise Business

mm by Jennifer Ross
March 30, 2022
in Technology
6 min read
Home Technology

Artificial intelligence (AI) and machine learning still seem like the stuff of science fiction to many people, and often conjure up disturbing imagery. Think of supercomputer Hal refusing to let in astronaut Bowman into the spaceship in ‘2001 – A Space Odyssey’. Or Skynet taking over the world and embarking on a campaign of annihilation in the Terminator movies. Scary stuff! In truth, the impact that AI and machine learning will have on our lives is far less exciting than a high-budget Hollywood blockbuster, but it will be revolutionary, nonetheless. Both concepts are already having a major influence on our daily existence, and businesses are already being disrupted. In the next decade, this process will accelerate even further. Here’s how AI and machine learning will revolutionalise business. 

What Are AI and Machine Learning?

RELATED POSTS

Who should learn Salesforce in India?

How AI is Affecting the Online Gambling Industry

AI, in simple terms, is a term that refers to any computer, device or software that mimics human activities. While AI cannot think as we can (at least not yet), they can mimic our ability to learn, problem-solve and plan. Machine learning is a subset of AI – it’s all about the data. The algorithms that drive it assimilate data, analyse it, take insights from it, and build models which can then be employed by humans in all manner of situations. And it’s not just big business that will be impacted; the rise of companies offering ai and machine learning services for startups shows that all sizes of businesses will be affected. 

Insights

The data a company holds on the market it operates in and how customers behave has always been a key asset to businesses, big and small. This information has given them the insights they need to grow their operations and retain a competitive edge. In days gone by, businesses didn’t generate that much data – so it was easy to capture, store and use. The digital revolution has created vast tracts of information, but the vast majority of it is unstructured (ie it doesn’t conform to any data models). So, only about 0.5% of all that invaluable information is actually being used at the moment! AI and machine learning tools will play a central role in mining that data, interrogating it and interpreting it. The predictive analysis generated will be used to anticipate and act on emerging market trends, informing key decisions and strategies. 

Meanwhile, these tools will be used to delve deeply into consumer behaviour, so potential customers are always offered relevant products and services. Existing customers will be retained in the same way. 

Customer Service

It is difficult to overstate how AI and machine learning will utterly revolutionise customer service. Many companies already operate AI chatbots that can provide virtual assistance to answer simple enquiries and deliver technical support. Currently, the technology is still fairly crude. It doesn’t tend to personalise responses very well; and is quite dependent on the human user entering a required amount of detail before responding. That’s going to change. Hugely. AI and machine learning will evolve to crunch huge amounts of data, analysing millions of consumer transactions. The sales intelligence generated will allow the needs of consumers to be anticipated. The user experience will become deeply engaging and completely personalised. Businesses will begin to speak to the customers at the right time, with the right content. With true 24/7 operations, the era of being on hold will be over!

Process Automation

Automation has been used in business processes for decades, with humans often operating alongside robots in many factories. Picture a car production line and you can see this in action. With the advent of the AI and machine learning revolution, a new age of automation is upon us. We’ve already talked about how chatbots will transform customer service, but that’s far from the whole story. Software will perform many recurring and often mundane tasks currently performed by humans. Sales and marketing are already being turned on their head, with AI-driven CRM systems moving communication from human driven cold calling and emails to timely and relevant automated transactions. As more data is mined, this process will become even more imbedded. Sales pitches will be hyper-personalised, always arriving at the best time using the most effective medium. 

Operations, HR and accounting functions will be completely changed too – AI and machine learning will do all the hard yards, eliminating errors and allowing businesses to focus on core strategies that lead to long-term growth and success. 

ShareTweetShare
Previous Post

Non-Fiction Author Adrienne Alitowski Shares Inspiring Story Through Trial and Triumph Through Her Memoir, Clipped

Next Post

Negin Ghalavand the social media star talk to us about her new projects

mm

Jennifer Ross

Jennifer has been a part of the journey ever since The American Reporter started. As a strong learner and passionate writer, she contributes her editing skills for the news agency. She also jots down intellectual pieces from health category.

Related Posts

Who should learn Salesforce in India?

Who should learn Salesforce in India?

by Richard Brown
July 6, 2022
0

Have you ever thought about a career in Salesforce? If you are reading this article, you probably have but may...

How AI is Affecting the Online Gambling Industry

How AI is Affecting the Online Gambling Industry

by Jennifer Ross
July 3, 2022
0

The rising popularity of the iGaming industry has increased competition among casinos. Online casinos are searching daily for new ways...

Cyber EV Charger: The Future of Electric Vehicle Charging

Cyber EV Charger: The Future of Electric Vehicle Charging

by Richard Brown
June 26, 2022
0

Electric vehicles are the future of transportation. They are more environmentally friendly, and they save you money on gas. However,...

How To Hire A Hacker Service For iPhone Spy Hacking

Spy on iPhone With Just the Number Guaranteed

by Richard Brown
June 26, 2022
0

Hackraptor is a breakthrough solution that is guaranteed to allow you to spy on iPhone with just the number. Joe,...

A Well-Integrated Software Development is Important for a Business to Improve its Visibility

Low Code Platforms can be a Great Solution for Developers

by Richard Brown
June 25, 2022
0

This article will discuss the Top Low code application development platform for Enterprises, Banking, and Telecom. Low code platforms are...

Next Post
Negin Ghalavand the social media star talk to us about her new projects

Negin Ghalavand the social media star talk to us about her new projects

Sabrina Kippes Built a Community at the Summit School in Nyack

Sabrina Kippes Built a Community at the Summit School in Nyack

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Latest News

Michelle Valenzuela Wolf: 4 Ways to Eliminate Bad Habits and Develop Good Ones

Michelle Valenzuela Wolf: 4 Ways to Eliminate Bad Habits and Develop Good Ones

July 6, 2022

Who should learn Salesforce in India?

July 6, 2022

Growth Mindset: Learn How Galen M. Hair Grew His Company from 12 to 800 Employees in Just a Few Years

July 6, 2022

Achieving Hypergrowth: 4 Tips

July 6, 2022

Trust Advances Success, So Why Don’t All Businesses Trust Their HR Teams?

July 6, 2022

Vintage Muscle Reviews: Vintage Muscle on building a community

July 6, 2022

Bryan Gorrita’s Philosophy on Control

July 6, 2022

Be Debt-Free Fast: Effective Ways To Pay Off Your Debts

July 5, 2022

Finding a Good Debt Relief Company: Factors to Consider

July 5, 2022

7 Symptoms Of Low Testosterone In Men And Possible Solutions

July 5, 2022

The Episcopal Church Foundation (ECF): Transforming The Episcopal Church

July 5, 2022

Boujee Leek – An Irrefutable Shining Star in Rap Music

July 5, 2022
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

No Result
View All Result
  • Home
  • About Us
  • Our Staff
  • Contact Us
  • Privacy Policy
  • Editorial Policy
  • Use of Cookies

© 2019 - The American Reporter

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.