How is Artificial Intelligence empowering businesses?
Artificial Intelligence and Augmented Reality are still considered hot and emerging technologies in 2022. What pops up in your mind when you think about AI? Voice-controlled machines, robots performing manual tasks, or automated cars? Yes, AI is capable of the preceding but it also has huge potential to transform the business landscape.
Much like Augmented Reality development has contributed to product presentation techniques, AI has made numerous contributions to consumer strategies and decision-making with businesses.
Hence, we decided to write this read that shares important insights on why is it essential to design AI-empowered solutions for businesses to stay competitive.
Why should Startups & Techpreneurs Leverage Artificial Intelligence?
A survey carried out by Statista shows that funding for AI-based startups went from 670 million USD in 2011 to 36 billion USD in 2020. The first innovation in the field of AI in the form of an Artificial Neuron stunned the tech community in 1943. AI has come way ahead by fulfilling the ever-changing demand of new enterprises.
Here are the top reasons why startups should integrate AI into businesses.
Allows one to make Data-Driven Business Decisions
AI plays a huge role when an organization wishes to make futuristic-business decisions. AI offers the best results when looking for advanced business analytics. The contribution from machine learning, mobile cloud computing, and business-critical analysis adds to the functionality of AI and is a perfect tool for startups to optimize their futuristic growth.
The amalgamation of these techs helps predict real-time market trends. As it becomes too difficult to analyze the same using some reports and surveys, AI helps a great deal by offering a detailed analysis of the subject. One may have to hire AI developers to make the best of this functionality.
Enhance Customer Experience
It doesn’t matter if you’re just starting or are an established business, as per an American Express report 40% of consumers expect rapid customer service from the go. This area cannot be overlooked as consumers make your business what it is. So, one should use AI-powered tools such as chatbots and more to offer their users to serve consumers efficiently.
If you wish to have a competitive advantage over your rivals your app must offer experience. Consumers feel highly valued when they find these services in their app. As per one of Accenture’s reports, it was predicted that more than 80% of businesses will switch to bots by the end of 2021, and a remarkable change has been observed. AR is also an essential tool to enhance the same. But one would have to seek assistance and hire Augmented Reality app developers to design the best experiences.
Conceptualize Marketing Strategy
One can rely on AI to market their brand with new and result-driven strategies. Here are various benefits offered by AI:
Effective Content Selection: Content is an essential part of getting your consumers hooked to your service or at least grab their attention in a way that you remember. AI can empower individuals to explore effective branding strategies that can exemplify their market value.
Strategize Ad Campaigns: Startups always aim to design result-driven marketing strategies that offer them a successful advertising campaign. With effective tools presented by AI, one can conduct cross-channel marketing, analysis, optimization, media handling, research, and more. If developing a mobile app these costs would be added to your mobile app development cost.
Data Mining: To learn extensive detail about the interactions of consumers with a platform, one has to make use of AI-powered apps and software. Capitalizing on the needs of consumers is the way to go if one wishes exponential rise in their business revenue and popularity. Using AI business enthusiasts can very well optimize their products or services.
Systematic Data Security
No matter which business niche you belong to, cybersecurity is a genuine concern for everyone in today’s day and age. Tech giants such as Google strengthen their security systems by strengthening their user search algorithms. The company is so concerned about security that it blacklisted 50,000 phishing platforms and 20,000 websites in a week.
There has been an evident rise in cyberattacks in the past 5 years. Such situations can incur costs as high as 3.86 million for organizations to recover from the adverse impacts. AI offers robust security using advanced machine learning algorithms. AI development company can guide you well on how you can implement tight security for your apps.
Fosters Human & Machine Interaction
AI can also help you eliminate repetitive and unimportant tasks. One of the other techs that can assist with the same is the Internet of Things development. When mixed with AI, these two techs have worked wonders for on-demand app development companies. When well integrated with human efforts, it can conduct efficient human interaction with almost any machine on the planet.
To apply the preceding techs in the right balance and extract maximum benefit from the same one would have to get in touch with a top mobile app development service. As they come with their complexity, one would need an expert to implement the same using the right practices. What are your views on the above-mentioned emerging techs? Share your thoughts in the comment section. Thank you for reading.