Introduction to AI technology
AI or Artificial Intelligence technology is an approach by which we can make a computer or a robot or any product to think like humans.
Artificial intelligence involves studying how human brains work, think, learn and decide, and eventually solve a problem to imbibe such functionalities in machines.
Through such studies, one builds intelligent software systems that are enabled to think and act like humans. The main aim of developing Artificial Intelligence is to improve computers’ functions related to human knowledge, like the processes of thinking, learning, problem-solving, and decision-making.
Artificial Intelligence, like regular intelligence, is intangible and is composed of the following elements –
- Problem Solving
- Linguistic Intelligence
AI research’s pivotal objectives are planning, reasoning, learning, natural language processing, representation of knowledge, realization, and moving and manipulating objects. There are other long-term goals in this general intelligence sector.
Advantages of AI for App development
The combination of Artificial Intelligence with mobile apps has worked wonders and has allowed people to do things with machines that we could not even imagine previously. Prime examples of usage of AI in mobile apps is voice and face recognition.
So, here are some of the notable merits of incorporating Artificial Intelligence into the development of mobile apps –
#1 AI helps us complete monotonous work quickly
Nobody likes to do any work which is repetitive. With AI incorporation into mobile app development, we can care for such creativity stunting and wasteful work. It helps AI mobile app development companies to focus on more important tasks, which only results in pouring creative input into the apps and solving real-time app development problems.
#2 It enables maintenance of accuracy and completeness
Artificial Intelligence provides accuracy and closure in any field, leaving little to no chance of mistakes. AI is a lucrative option in that way. Human performance is more prone to errors. Using artificial intelligence lowers the risk of inaccuracies in any task. The
#3 It allows long hours of work without sacrificing efficiency
Some tasks are more time consuming, such as fuel research or mining process. AI helps create bots that can work relentlessly, for hours without showing any signs of tiredness and with an equal amount of efficiency.
#4 Helps Take Customer comfort to another level
AI is so intertwined in our lives that we may not realize it, but it has a presence in many aspects of our lives – from augmented reality to travel apps. Customer satisfaction is taken a few notches up by making their searches easier.
#5 Mobile AI will entice retail customers
AI technology is furthering every day and creating new frontiers for the retail market that redefine the potential of mobile apps that have the backing of AI. The major retailers provide services to a large number of customers by teaming AI algorithms with their brands.
#6 Intelligent Interactions & Competitive Business
With the advent of machine learning into an AI system, businesses have become ready to revise their radical practices to engage customers. AI technology’s personalized AI has helped businesses, developers, and customers join hands-on thinking about intelligent interactions in mobile apps. Artificial Intelligence can read consumer trends, preferences, processes, and the collected information to provide accurate solutions.
#7 AI apps retain users
The incorporation of AI with mobile apps has provided personalized, seamless, and tangible experiences to customers. The foremost principle of AI for mobile apps is collecting data from previous interactive sessions; it provides accuracy in understanding customers’ behavior, which further helps brands connect customers to the brand(s).
How AI caters to the major challenges of businesses
Even though each business is different from the other, one thing common among all business is the long-standing problems. With the advent of Artificial Intelligence technology, we can easily take care of such business challenges. Let us look at the five pivotal challenges that all businesses face and how AI technology-powered solutions address these hurdles.
Customers are inclining towards more digital and mobile transactions. However, it also offers criminals the opportunity to take what they want from digital footprints. They prey on sensitive personal and financial data to carry out fraudulent activities. With increasing customer expectations regarding transaction speed, companies are fighting to meet such demands and ensure safe transactions where there is scanning of each transaction for potential fraud.
The only technological solution to provide such speedy transactions is AI. Like Feedzai, several companies leverage AI and machine learning algorithms to sort out and assess the data within a period of a few seconds. Consequently, these companies have widely decreased fraudulent activities and spammers and a wide range of other kinds of financial crimes. Other companies like Door Dash and PoshMark have successfully reduced fraudulent transactions, chargebacks, and customer spamming.
2. Customer support
A vital element in a company’s success is the customer experience. Despite many companies offering faster transactions, they are still struggling to provide round-the-clock customer support. AI is stepping in to help these companies provide responsive customer support across multiple channels, without even having a single human being present to address customer inquiries.
Artificial Intelligence can offer solutions capable of reacting to customer queries while speaking and simultaneously traversing the company’s complex software grid. It provides helpful tips and assistance to the operators in real-time.
Many companies make use of IVAs or Intelligent Virtual Assistants and chatbots for customer support. This approach is different from that of Agara, which uses operators but also gives AI tools. Such technology is faster and provides more effective resolutions for customers, building brand reputation, and customer loyalty.
Even though customers enjoy online shopping convenience with their mobile devices, they expect these online shopping platforms to send them customized and personalized interactions. Companies with a large customer base, who do not have any f2f connection or any in-store transactions, are struggling to personalize each experience.
The first company to use AI to make personalized recommendations based on previous orders was Amazon. It is one of the preliminary features that AI-powered solutions can do. Many case studies have shown that using AI has further improved personalizations, which has consequently increased businesses’ revenue.
4. Data analysis
The rapid increase in data might be beneficial, but it is challenging to structure it to effectively make it useful for future uses. Even though AI has played a major part in analyzing data in the past decade, organizing them is still a challenge.
Some companies use AI to assist AI! They implement a technology called automated machine learning (AutoML) to figure out how to automate developing AI applications, including ones for data analysis. Software and data engineers and analytic experts can quickly build effective data analysis models to improve the data analysis processes powered by AI.
Companies that aim to get the max outcome from their workforce and focus on enhancing their productivity every day – AI has come to them with better solutions. Some IT companies claim to be “self-healing” enterprises, which actively approach challenges of continuity of business applications. This company uses AI technology to predict and prevent IT issues at an early stage so that they do not turn into bigger problems that might impact productivity.
The company uses this solution in a wide range of industries, from finance to retail to manufacturing. If AI did not have the prediction capabilities, businesses would have to fix both the problem and the damage caused by it. So AI doesn’t let the IT department firefight and helps them to do their jobs better.
Like financial services, healthcare, and education, many industries suffer from legacy problems that reduce their productivity in the digital age. AI can help these industries increase their digital transformations by converting paper processes into automated digital processes. Thus, we can conclude that more efficiency implies more productivity and decreased expenses.
Rely on AI to bring forth neoteric apps for your business!
A large chunk of the credit for finally addressing age-old business challenges goes to AI-enabled solutions, too, in an effective manner. In this process, organizations can satisfy their customers, secure their transactions, improve interaction with the audience and the customers, and manage data more efficiently to be more productive.
However, AI is not a silver bullet. Companies detect their IT issues with AI’s help, but they rely on automated strips to solve the problems. Thus, AI’s usage and applicability involve making wise choices to create solutions useful to its business.
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