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Artificial Intelligence (AI) Solutions: Tips and Benefits for Businesses

Artificial Intelligence (AI) Solutions: Tips and Benefits for Businesses

Artificial intelligence (AI) is already used by many businesses and keeps growing. AI has transitioned from science fiction into reality. Many people are using AI solutions every day. internet search engines, online translators, chatbots, virtual voice assistants, GPS navigators — all these solutions are AI technologies.

Artificial Intelligence: Solutions and Benefits for Businesses

Artificial Intelligence for Businesses

The adoption of artificial intelligence by businesses is growing because the world is changing. Cloud computing, Big Data, the Internet of Things (IoT), and other emerging technologies are creating the perfect environment for AI expansion.

There are still many misconceptions and myths about artificial intelligence because it is a complicated technology. Many people may think that AI solutions are just robots that imitate human behavior. (that’s not exactly true).

Here are some tips and benefits of AI solutions for businesses

Machine learning — ML

AI-based algorithms that can learn automatically from experience and don’t need to be programmed to improve. Machine learning platforms such as Google Cloud ML Engine provide APIs, development, and training tools to create learning models and use them in machines and applications.

Machine learning usually deals with classifications and predictions.

Deep learning — DL

ML-based algorithms that build many layers of artificial neural networks to sort and process information the way human brains do. Deep learning techniques are the foundation for decision-making in autonomous robots.

Natural language processing – (NLP)

Artificial intelligence that analyzes and structures human languages.

Speech recognition — technology that perceives oral speech and transforms it into a digital text format that is clear for computer applications. A speech recognition API is used in voice response systems and mobile apps.

Natural language understanding (NLU) — technology that understands the meaning of textual data based on grammar and context analysis.

Natural language generation (NLG) — It is used for the automatic creation of written analytic reports, blog posts, or product descriptions.

Computer vision — CV

Technology-based on image and video analysis is used to detect, identify, and classify objects. Computer vision is used in real-time city monitoring through cameras to protect citizens from crime and accidents, inform about traffic, etc.

Practical AI Applications and Businesses

Many businesses realize that artificial intelligence is a new, innovative, way for economic growth. They can benefit a lot from adopting AI.

Enterprise Decision Management (EDM)

The new approach to decision making, Enterprise Decision Management, is based on AI technologies and automate data processing within organizations and make data-driven decisions.

For instance, e-Commerce stores utilize machine learning applications to help customers by analyzing their previous inquiries and purchases. Based on the obtained knowledge, smart systems offer customers relevant products or services.

They provide a better personal experience, enhancing customer loyalty, and generate more sales.

Chatbots

Based on NLP technology, chatbots have revolutionized working processes in call centers, online stores, and organizations that provide customer support. A chatbot is a great tool for any organization that has thousands of clients.

Chatbots offer various benefits to both businesses and customers: they process requests 24/7 and without delays. A chatbot can replace many human operators, optimizing expenses. (A low-cost, little helper!)

Self-Driving Vehicles

Autonomous vehicles are also used in large warehouses to categorize and place products on the shelves. This approach adds value to e-Commerce and retail enterprises. Big businesses like Amazon already used it.

Delivering parcels is easy with the help of self-driving vehicles that use computer vision technology, GPS, and IoT sensors to follow the exact route.

Benefits

The implementation of AI for businesses has many benefits because new technologies demonstrate a much higher performance level than human specialists.

Enhanced data processing speed results from AI’s ability to quickly handle large amounts of data.

Maximum revenue generation is expected because of process automation and predictive maintenance.

Higher customer engagement and satisfaction are achieved thanks to AI and ML algorithms’ ability to anticipate customer needs and provide personalized recommendations. Moreover, providers can run more effective sales and marketing campaigns.

Chatbots and other intelligent assistants ensure improved customer service.

Cybersecurity with AI prevention technologies that can detect and defend against advanced cyberattacks.

Businesses should develop the right plan for intelligent transformation. With the introduction of artificial intelligence into business processes, the main change will concern the way people and machines work together.

AI will help businesses and improve people’s lives. AI technology can provide a new, innovative, way to work, entertain, and live.

More Details https://www.sam-solutions.com

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Best AI Business in 2021 and Beyond: 4 Big Players to Invest

Artificial intelligence (AI) is the new, innovative, technology that uses computers to perform tasks that normally require human intelligence. Also, AI includes deep learning and machine learning technology.

Machine learning involves training a system with huge amounts of data, then using that trained system to make inferences about new data.

Best AI Business to Invest in 2021 and Beyond

Companies are using artificial intelligence in two ways:

  1. Many companies use AI to benefit their existing operations. High-profile applications include robotics, self-driving cars, and smart voice assistants. But Google also uses AI to filter out the spam for Gmail users. Amazon uses AI to recommend products to customers. And Netflix uses AI to guide content creation and recommendations.
  2. Some companies profit directly from AI by selling the hardware, software, services, or expertise the technology needs.

Best AI Business to Invest in 2021

  1. NVIDIA

Machine learning’s training phase demands a lot of computing power. Graphics chips, used primarily for rendering video games. Leading graphics chip company NVIDIA has taken advantage of the AI boom, with its graphics cards becoming the standard in data centers around the world.

NVIDIA’s graphics cards are used to accelerate a wide variety of data center applications.

New Self-Driving Car and NVIDIA

A self-driving car must process massive amounts of data from multiple sensors and cameras in real-time, detect objects like pedestrians and other vehicles, and make complex decisions. They require a tremendous amount of computing power, and that’s exactly what NVIDIA’s platform delivers.

  1. IBM

International Business Machines (IBM) has been around for over a century. Today, the tech giant is an integrated provider of hardware, software, and services to large enterprise customers. Its mainframe computer systems are still effective in certain industries.

IBM’s strategy with AI is to apply the technology where it can augment human intelligence, increase efficiency, or lower costs. In the healthcare industry, IBM’s AI tech is being used to create individualized care plans, accelerate the process of bringing new drugs to market, and improve the quality of care.

In the financial services industry, IBM is using AI to help clients with the daunting task of regulatory compliance.

IBM is a complicated company. But if you’re looking to invest in a company that will benefit from the AI boom, IBM is a good choice.

  1. Micron

Micron Technology manufactures memory chips, including dynamic random-access memory (DRAM) and NAND flash memory. Most of what the company makes are commodity products, meaning that supply and demand dictate pricing.

This leads to sometimes brutal cycles in the semiconductor sector where an oversupply of chips pushes down prices. In 2021, that cycle appears to be on an upswing because the demand is high for mobile, 5G, cloud computing, and graphics.

In the long run, demand for memory chips will only grow. Self-driving cars are a good example. All the sensors and cameras produce a lot of data. Micron estimates it at around 1 GB per second.

  1. Amazon

Perhaps no company is using AI in a wider range of ways than Amazon. Founder and CEO Jeff Bezos loves AI and machine learning. Amazon started as an online retailer, but technology has always been at the company’s core.

Today, Amazon uses artificial intelligence for everything from its industry-leading voice-activated technology, Alexa, to its Amazon Go cashier-less grocery stores, to Amazon Web Services Sagemaker, the cloud infrastructure tool that deploys high-quality machine learning models for data scientists and developers.

Amazon’s dominant e-commerce business is also built on AI, as algorithms run recommendation engines for e-commerce as well as video and music streaming, and determine product rankings.

The new plan is Drone delivery. Probably it would be yet another successful AI application for the tech giant.

Last Tip – AI Will Keep Growing

IDC expects total spending on AI systems to reach $98 billion in 2023. IDC sees a compound annual growth rate of 28.7%.

With the market already large and growing quickly, there’s room for many companies to profit from AI. While picking stocks in a growth industry has a lot of uncertainty, but NVIDIA, IBM, Micron, and Amazon are all profitable AI stocks. They are now the 4 big players. The best AI business in 2021 and beyond.

More Details: https://www.fool.com

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Email Marketing: How Artificial Intelligence Can Improve Your Strategy [Infographic]

These days artificial intelligence is a necessity for your business and your digital marketing strategy. Also is pretty effective and useful for your email marketing campaigns.

With the help of artificial intelligence, email marketing is more powerful than ever. It has many benefits like personalization, automation, and data analysis. AI can help you to improve your email marketing strategy pretty fast.

Here are some benefits of artificial intelligence you need to know.

  1. Automation

AI technology can help you to set up automated campaigns that are driven by customer data and are based on what stage someone is at in the customer journey. AI uses past purchases, interests, and browsing behaviors to set up automated campaigns that can nurture your leads.

AI can also help you determine what kind of content and images are most effective for your welcome emails, order update emails, and retention emails. So you can create more engagement and conversions.

  1. Personalization

AI technology can analyze consumer behavior and study their interests to generate data-driven insights. So you can create customized emails that are tailor-made for each of your subscribers.

AI technology can tell you what content is needed to resonate most with your target audience at a personalized level.

  1. Big Data

Email marketing is over-used these days and it’s more difficult to make your emails worthy and interesting for your subscribers. Because they are receiving a huge amount of emails daily. But with the help of big data, you can create and send unique and interesting emails.

Also, you can use cookies to gain deeper insights into your target audience.

With personalization and unique content, you can become a trustworthy source for your target audience and subscribers.

  1. Engagement

AI technology can help you to generate high-quality and interesting content that will generate more engagement, sales, and money.

  1. Timing

AI can determine the right times to automatically send out emails based on your subscribers’ activity history. It’s very important to remember that you’re trying to connect with humans who have different habits, interests, and preferences.

  1. Personal Promotions and Recommendations

AI knows what promo works best with your customers because AI knows their history, interests, and habits. When a customer abandons a shopping cart, AI can retarget that customer by sending an email to purchase the product or recommend a similar item.

Emails will have a CTA that leads to a landing page where your customer can easily complete the purchase.

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AI Chatbots: A Great Opportunity for Your Business [Infographic]

A Chatbot is a very effective and popular computer program that simulates a natural human conversation. Users communicate with a chatbot via the chat interface or by voice. Chatbots interpret and process user’s phrases and give an instant pre-set answer.

AI-powered chatbots

AI-powered chatbots understand free language, but also have a predefined flow to make sure they solve the user’s problem.

They can remember the context of the conversation and the user’s preferences. AI chatbots use Machine Learning, AI, and Natural Language Processing (NLP) to understand people.

NLP is very important to make the interaction between computers and humans feel like communication between two people. With the help of NLP people can freely interact with chatbots asking a question.

NLP involves 2 processes: Natural Language Understanding (NLU) and Natural Language Generation (NLG).

Conversational User Interface (CUI)

CUI enables people to interact with machines in an easy and understandable human language. With the help of CUI, a business can guide its customers to the desired goal.

A chatbot can be a loyal friend to clients providing them with assistance and advice. It can be as different as you wish – serious and formal or careful and professional. It’s up to you to choose your chatbot personality.

Thanks to Conversational UI, your clients may communicate with your business simply and naturally way, 24 hours a day, building awesome customer experience.

People are starting to use messenger to chat with their friends, to connect with different brands, search for products, and look for content or information. Recent studies show that messengers are more popular and have higher rates than apps.

Most of the users are a younger group which is a very important demographic for advertisers, publishers, and brands.

Many brands and businesses have already understood that using chatbots, can successfully engage customers on social media. So, the number of chatbots continually grows.

Also, new stats show that 75% of people want to use messaging apps to get customer help because they want a fast and effective solution.

So, with chatbots, businesses can easily use messengers to communicate with leads and clients and solve their problems pretty fast.

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Ecommerce and Artificial Intelligence: Tips You Need to Know [Infographic]

AI is a new important and pretty effective tool for your e-commerce business. AI has transformed and improved the business models of many brands. Artificial intelligence now it’s a necessity for your e-commerce business and not just a trend.

Here are some useful tips you need to know about artificial intelligence and e-commerce

  1. Visual Search Engine

Visual search engine allowing the user to search for products with a single click. The visual representation of the products is more appealing and attractive to the customers.

The customers can now view the size, design, and color of the products they like. This helps to improve the customer experience.

  1. Personal Recommendations

Artificial Intelligence can provide product recommendations to buyers. It tracks the searches made by the users to understand consumer behavior.
This helps to improve the reviews and ratings of your e-commerce site.

The e-commerce owners use recommendations to provide the best solution to the customers. Also, recommendations can increase your sales.

  1. Voice Assistance

Artificial Intelligence can provide more interactive and useful solutions to customers. It provides real-time voice assistance to the users. This can improve effectively the user experience.

This makes it easy for users to interact with service providers. There are many popular virtual assistants like Alexa, Google Assistant, and Siri. The virtual assistant can easily process the native language and can understand the messages of the customers.

Virtual assistants have transformed the purchasing process of customers.

  1. Leads and Sales

One of the most effective and amazing tips of AI is that it can generate sales for your e-commerce site. It extracts the data of the consumers and tracks the purchasing patterns of the buyers.

AI has made these tasks quite easy. AI can help you to generate leads and increase sales.

  1. Chatbot – The Little Helper

Chatbots can answer the queries and questions of the customers in real-time. The chatbot is your little helper and it works for free 24 hours per day!

Big companies like Microsoft and Google are using and improving artificial intelligence. Also, these companies are making huge investments in AI ventures. They know that AI is the best solution for the future of the online world.

Many stats show that by 2021, 88% of the consumer interaction will be done without the involvement of humans.

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