Artificial Intelligence in Business
Artificial Intelligence Definition
What is Artificial Intelligence? Better known as AI, it is theory and development of computer systems able to perform tasks that normally require human intelligence. This includes visual perception, speech recognition, decision-making, and translation between languages.
How can artificial intelligence help marketers you may ask? Well let me tell you! One way artificial intelligence can help you is by using its algorithms to provide recommendations and content curation for your customers. Therefore, a prime example of this would be Netflix, by taking note of what the user is watching and making suggestions.
AI in Business
As the CEO of Google, Sundar Pichai mentioned in one of his presentations, artificial intelligence is becoming more relevant in people’s daily lives. Therefore, artificial intelligence is becoming the solution to most of humanities problems and is improving the efficiency of systems in ranges from health and education to transport and energy. One of the biggest impacts of artificial intelligence over the past decade was in the business world.
After many researches and a survey of 3,000 business executives and business managers, it was found that artificial intelligence gives a competitive advantage and a strategic priority to businesses; this allows businesses to gain more opportunity in achieving a successful path. Moreover, it was proved that companies who were using artificial intelligence in their businesses had a huge gap of success comparing to those who did not. One of the main reasons behind this is that businesses are using artificial intelligence to spot and track users purchasing plan and keywords searched on platforms such as Google, to advertise their products and services related to the keywords searched.
With the improvement of technology, AI will have a huge affect in the next five years on areas that include customer-facing activities, such as marketing automation and supply chain management.