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How can AI Help You with Your Business?

 


Artificial intelligence has contributed to several sectors of accompany. It has been growing over the past few years and now it is used in almost every step of running a business. It has streamlined processes while helping business decrease their expenditure significantly.

In this blog, we will take a closer look at how artificial intelligence is disrupting companies today and how it will be beneficial for your business. Artificial intelligence is the process of data processing to find patterns and manage huge amounts of data to extract information that will transfer transform your operations for the better.

Technologies that use artificial intelligence can analyze and model human behavior by identifying behavioral patterns. There are quite a few differences between artificial intelligence and business intelligence technology.

So how can AI impact businesses?

Improve customer communications and reduce costs:

Chat is one of the most important customer services. Artificial intelligence-driven chatbots allow businesses to provide customer support around the clock by automating customer communications. It makes experiences more personal and encourages brand loyalty.

The latest trends in natural language processing make them pick up conversations and mimic human speech. As per a study, chat makes customer journey better which in turn leads to an increase in customer satisfaction.

Certain companies that have implemented chatbots have seen a significant reduction in salary and benefits while making the back office efficiency better.

AI-enabled chatbots can become a bridge in customer service gaps for businesses that don’t have the budget or human resources for a dedicated customer service team.

Read Also | How Robotic Process Automation is a game-changer

Boost brand loyalty with customization:

Over 60% of customers expect a tailor-made experience. It is one of the major challenges that small businesses face in terms of rationalization, energy, and funding. Companies need to map out individual customer journeys to deliver a customized experience. It increases engagement and drives sales.

In order to provide customized experiences, you need to understand the requirements of each and every customer. It is a huge task and you need to rely on artificial intelligence for the same. 

Companies are using data to boost the experiences from previous purchases social media footprints, and interactions with the company, to understand the kind of products and services a particular consumer might purchase in the future. 

These insights are important for companies to deliver tailored experiences to their customers. Artificial intelligence can automate the process and identify decision-making patterns. It also makes creating personas based on the information easier.

Read Also | 8 Biggest Benefits of RPA (Robotic Process Automation)

Streamline the hiring process:

AI can boost the efficiency in recruitment as well, which is a tedious process. Artificial intelligence makes the candidate review process fast and effective. It also helps to eradicate human bias from preliminary screenings.

It is good news for diversity in the workplace. This technology also decreases the time to fill open positions by analyzing the resumes. Sometimes, HR professionals have to go through hundreds of cover letters and CVs, which is not an easy task at all. For instance, PepsiCo uses Robot Vera to conduct interviews.

AI provides companies with a competitive advantage in the recruitment process by increasing cost-efficiency. Per-hire costs are likely to go down once you start using AI for the hiring process.

Increase Forecasting Accuracy:

The best benefit of artificial intelligence is the reduction in human error. A time-consuming process that can include manual error is forecasting cash flow, which is very much required for your business. AI can help a company automate objective forecasting without manual intervention. It gives businesses greater visibility of their future finances.

Read Also | 8 Reasons Why Machine Learning is a Smart Choice

AI Unlocks Opportunities:

As per a McKinsey study, companies that use AI will increase cash flow by over 120% by 2030. It goes without saying that AI adds value to customer service and reduces costs in the process. It also streamlines operations and generates new revenue.

So irrespective of whether you have a small-scale business or a large one, you need to make the most of AI.

Dynamics Business Solutions (DBS) is certified Microsoft Dynamics partner in UAE, we take pride in our ability to develop and deploy the right business solution that matches global client’s requirements. Our in-house developed state of the art solutions Dynamo & DynaPay for HRMS and Payroll on top of MS Dynamics 365 FO and Business Central are capable enough to cater all requirements related to HR and Payroll.

To know more, speak to our expert at Dubai: +971 4 447 5525 Abu Dhabi: +971 2 222 2100 or inbox us your query at info@dynamics.ae OR visit www.dynamics.ae

 

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Location: Dubai - United Arab Emirates

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