Transforming your business with AI in 2018
ARTIFICIAL INTELLIGENCE (AI) is quickly becoming a part of our daily lives. Nowadays, we don’t think twice about using virtual assistants like Apple’s Siri to answer a quick question, and the notion of self-driving cars is becoming less absurd than originally thought.
This is set to be the year that AI technology hits our offices and desks. This article will discuss how AI is looking to affect business in 2018.
Creating a more customized user experience
AI will not only disrupt business processes but will also help customers by providing them with a more personalized user experience; one that most marketers could have never thought possible.
In 2018, an increasing amount of businesses and brands will leverage AI when analyzing data, buying trends, and browsing history in order to customize the user experience.
AI has the capability to learn more about visitors based on their engagement with a site and what actions they take. A technique that big brands like Netflix and Etsy have excelled with is collaborative filtering.
Through machine intelligence, information will be gathered about visitors, which will then group multiple site visitors together based on their preferences. These clusters of visitors will experience similar content when they visit the site, which will continually evolve based on additional data inputs.
Changing how we use social media
One of the biggest impacts of AI will involve social media. This year, businesses should expect to see an increase in personalized content targeting which aims to create increased sales opportunities.
Businesses are increasingly using consumer intelligence to gain insights from social and then using that data to inform future marketing strategies. Lux Narayan, CEO of Unmetric, an AI-powered social media metrics company explained this further in an article by Forbes:
“This is essentially pulling out the needles from the haystack, filtering out signals from the noise and finding interesting and relevant signals for a brand that it can take forward into actionable insights”.
AI is also making it easier for customers to get help through social platforms. According to a global AI survey, 37 percent of consumers prefer to purchase products on social media.
The use of AI-powered chatbots, on Facebook messenger for instance, can recommend products based on data from previous interactions and simple search, as well as answer frequently asked questions.
Futhermore, AI is providing brands with more intelligence when choosing certain influencers to work with on social, ensuring they are the right fit. Insightpool is a platform that searches through more than 600 million influencers across social media platforms, matching them with brands based on characteristics, personality, and goals.
Fraud prevention capabilities
With fraud attacks becoming more sophisticated, the need for real-time fraud identification is becoming increasingly important. AI technology can give organizations powerful solutions to help detect fraudulent behavior by leveraging automation, machine learning engines, natural language processing, speech and video recognition, and more.
“Artificial intelligence holds great promise with its ability to learn patterns of networks, devices, and systems and decode deviations that could reveal in-progress attack,” says Lucas Carlson, Founder of the platform-as-a-service company, AppFog.
Provide easily accessible data insights
Both finding and having the funds to hire a full-time in-house data scientist can be challenging. But with AI, you can have access to valuable insights on your consumer and marketing data for a fraction of the cost.
For instance, the Google Analytics Intelligence feature allows you to ask simple questions and get the answers you need without needing to be skilled in analytics.
Holy crap. Just discovered the "Intelligence" button in Google Analytics…. just ask it real world questions like "What's my busiest time of day in the last year" and it gives you back that data.
— Scott Sauber (@scottsauber) February 14, 2018
Helping you find the top candidates
AI is helping companies of all sizes and across all industries find suitable employees. Screening resumes efficiently and time-effectively still remains the biggest challenge in talent acquisition.
According to recruitment automation software, Ideal, 52 percent of talent acquisition leaders say the hardest part of recruitment is identifying the right candidates from a large application pool. Screening resumes and shortlisting candidates to interview is estimated to take 23 hours of a recruiter’s time for a single hire.
But, with the help of AI software programs, screening and research that has taken a large proportion of a recruiters time in the past, can now be done in seconds.
Speeding up this recruitment process through automation means you will be less likely to lose the best talent to faster moving competitors and will have more time to focus on more important tasks such as getting to know the candidates.