Using AI to Boost Your BusinessGuest Blog by Carly Thurgood
“I think because of artificial intelligence, people will have more time to enjoy being human beings” Jack Ma, Alibaba co-founder.The idea of Artificial Intelligence (AI), may for some people, bring ideas of sci-fi films, Elon Musk, or robots. However, for people wanting to build their online empire, it is quickly becoming an immensely important part of everyday life. Recognised tech giants including Microsoft, Facebook, and Google are already extremely invested in using AI tools to drive their businesses. The excitement surrounding AI has hit a record high, with the AI software market predicted to hit $126 billion by 2025. For businesses managing a website, wanting to attract more business, the question is, how can we utilise AI tools to their full potential, as an avenue for growth and ultimately more conversions. Countless websites are now using extremely innovative AI technology to manage their online sales, with a wealth of choices available. With so many website owners struggling to choose suitable tools to enhance their businesses, in this article you will discover what can be achieved with AI, and how it can boost your business.
How Companies are using AIAI is revolutionising the way we live, travel, work, and do business in the 21st century. With the assistance of AI, businesses can heighten customer experience, enhance employee performance, automate work processes, and develop intelligent workers to help with repetitive business processes. JPMorgan gave us a prime example of how they automating repetitive business processes when they used AI to automate high finance and boost employee productivity. Remarkably, this new software completed tasks in seconds, which previously took lawyers 360,000 hours.
What else is happening in the world?
- LoopMe assists brands such as Microsoft and Disney in running more compelling mobile video advertising campaigns. By analysing customer data to establish which online users are most likely to purchase a product or visit a store.
- Arctic Shores, a start-up that creates custom mobile games that businesses can use to gauge potential employees. A job applicant would play one of their games, and the software would record more than 3,000 behavioural data points formed from the choices made, using machine learning to collect worthwhile insights about the applicant’s profile.
- NquiringMinds, a “smart cities” start-up company that uses data science and sensors to share guidance about how urban areas can function more efficiently. For instance, an analysis of traffic data detected by an internet-connected, or ‘smart’ lamppost could help cities cut air pollution and congestion dramatically.
- Finally, even though Facebook’s AI research group, FAIR, are continually advancing in the field of machine intelligence, developing new technologies to supply people with more efficient ways to communicate. Mark Zuckerberg’s recent AI project was eventually shut down, as their two AI robots Alice and Bob began communicating in their own secret language.
What can AI do for your business?
Information Technology and Security
The leading way businesses are currently using AI is within security and IT.The volume of data around the world is exponentially growing each day. Data is being produced from network devices, the cloud, endpoints, and so many other areas. With more and more data, businesses are continuously seeking security analysts to protect their services. But what if machines could do what we cannot, by making real-time threat detection a reality by automating analysis and migration. With the adoption of AI skyrocketing, studies are showing that more than half of all businesses wouldn’t be able to detect threat without the use of AI. With three out of four executives saying that using AI allows their business to respond much faster to breaches and even lowers the cost of detecting and responding by 12%. Sounds good, right? So, what is available to help you right now?
- FortiAI is a tool that can expand the security professional. AI can do the hard work by analysing data, allowing engineers to spend more of their time fixing any issues. FortiAI also carries out malware analysis to understand the type of malware, creating a timeline for each infection.
- HANA is SAP’s cloud platform and machine learning solution, which businesses are utilising to manage databases of information that they have collected. For example, customer information, sales transactions, apps, relational databases, and other sources.
- Cylance supplies various cyber security products and services that proactively avert, rather than reactively detect, the implementation of advanced constant threats and malware. Cylance is even the tool of choice of some government institutions and Fortune 100 organisations.