Are Your Business Processes Ready for Making the Most of Artificial Intelligence?

10 Jun

Are Your Business Processes Ready for Making the Most of Artificial Intelligence?

By Digital Marketing, Marketing Automation Tool, Business Growth

Developing businesses in a digital culture imply that strategies must be built in a customer-centric and agile way. As a result, your efforts will be paid off, and you will see an increase in your marketing ROI. 

In the current context, technology use is ascending rapidly due to digital transformation. This increase is considered to be mainly a result of the social distancing and the change in customer behavior, who has moved in online. 

A survey from early 2020 shows that 41% of American respondents are looking forward to a fast-paced digital transformation, whereas in Europe, 62% of respondents are expecting this change. 

What sectors have seen remarkable progress from the use of AI or ML so far?

1. Healthcare

In the past few years, researchers have been working on different projects that helped the medical sector develop in ways that were not even thought to be possible decades ago. Two of the technologies that are fundamental to medical science are artificial intelligence and machine learning. 

To highlight it's fantastic use, it seems that the AI market for healthcare applications is expected to increase to 6,662 million by 2021.

Doctors are more able to detect and analyze a high amount of data coming from their patients with the help of machine learning and artificial intelligence. This way, they can make better and faster predictions, leading to more accurate diagnoses and efficient treatments for their patients.

2. Education

There are many ways in which artificial intelligence, machine learning, and robotic process automation are improving the educational environment. Some of the most well-known cases are:

  • Using chatbots for repetitive tasks within schools;
  • Efficient management software for teachers to give feedback;
  • Using virtual reality to improve existing content formats to harness the students' educational experience. 

If we consider AI adoption only, in the educational sector, we will see that this trend will soon have a global reach expenditure of $6 billion. Such figures, but also recent events of social distancing, should only make decision-makers understand the crucial role that innovative technology has upon the learning process. 

3. Financial

What is the most common problem for financial institutions? One that remained ubiquitous and can still have a vital impact on the financial sector? That would be fraud detection!

To minimize the risks of fraud potential, banking institutions can integrate artificial intelligence and machine learning algorithms into their working processes. Widespread use is when the use of such algorithms will result in automatically detecting unusual purchases and automatically sending a verification request to the client.

That is just one great example that proves the vital importance of disruptive technology in the banking industry, and to understand why this is the second industry to adopt artificial intelligence solutions.

For the security, decision-making, and customer experience benefits this technology brings, the financial sector plans to spend $5.6 billion by 2022

Build a unique disruptive model to ramp up your business in the post-pandemic era 

As we highlighted earlier in this article, the process of digital transformation has nowadays sped up its pace. For this reason, precisely, businesses that want to step in and show significant growth will have to come with unique ideas for their business strategy.

These ideas will make disruptive technologies, like artificial intelligence, machine learning, or robotics, enable their future business. To make sure you are on the right path, ask yourself what your customers want or how they will respond to your re-engineering model. 

Developing products or services that explore the use of these technologies will increase your chances of having a unique model for improving the customer experience.

You can start by using AI to monitor your customers' behavioral patterns, and from there on, you can come up with a creative idea that will make the difference between your business and others on the market. 

To give you a clearer picture of how you can create unique products in a tech-driven era, one of the most known examples of this is the case of Netflix.

To create a lean and friendly customer journey, the company had to find a solution to its massive collection of content. That solution was to use artificial intelligence for its movie recommendation workflow, which resulted in a significant increase in customer engagement

Exploring the benefits of using AI & ML within your business process management activities

In light of the pandemic, and considering that many employees are working remotely, businesses have to consider boosting their strategic approach to operations. This is where AI and robotics could interfere, thanks to their cost-cutting and efficiency

From automated hiring processes to marketing and sales enablement tools that are AI-based, you will increase your business's production and productivity. By giving your teams the upper hand to gain more insights quickly, you will increase the opportunities of driving more revenue and building a more predictive business strategy. 

If you want to gain more insights from specialists that have successfully implemented disruptive forms of technology for their business or outsourced their cutting edge services, join us in the next online event. 

event FB webinar vISTA 11 iunie

Build opportunities that meet your customer's needs and, most importantly, that speak the language of your employees. Remember: your company is built on the people within it! Think about companies that are already using AI and ML to analyze their employees' productivity and engagement levels.

So make the best of your company's culture and invest in innovative technology that will significantly improve the working process and bring a higher return of investment for your company in the longer term. 

Final thoughts

If your business wants to start a more elaborate digital journey but is unsure where to start, you can first consider implementing marketing automation tools within your processes. 

Get in touch with us, and let's find the best disruptive solutions for your business needs, or join us in the next online event, focused on how technology can help you build unique processes for your employees and customers!

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