Thursday, February 13, 2020

How Artificial Intelligence is Shaping the Future of Business and Marketing?

How artificial intelligence will change the future of marketing?
Artificial intelligence (AI) is changing business strategies and affecting the world's economy and society.
Artificial intelligence can help marketers to both identify potential customers or buyers, and deliver the ideal and targeted content that is relevant to them the most.

AI technology can improve your standard business processes, streamline strategic output, remove the guesswork from your decision-making and increase your productivity at work.

In the future, artificial intelligence is likely to substantially change business and marketing strategies including sales processes, business models and customer behaviors as well as customer service options.
 Artificial Intelligence Marketing
How artificial intelligence (AI) will change the future of business and marketing?

How Artificial Intelligence is Shaping the Future of Business and Marketing?

What is Artificial Intelligence?

Artificial Intelligence (AI) refers to the branch of computer science that emphasizes the simulation of human intelligence in machines and the development of intelligent machines that are programmed to think and work like humans. 

AI is the science of making things smart and includes robots, natural language, visualization, and much more.

Machine learning is an area of artificial intelligence that is now emerging, especially a subset of it, which is called deep learning.

AI technology can be applied to any machine that exhibits traits related to the human mind such as speech recognition, problem-solving, learning, and planning.



Artificial Intelligence in Business and Marketing

Artificial intelligence (AI) is widely used in businesses to increase competitive advantage, productivity gains from automating processes, and to further automate interactions with customers, partners, and workers, and improve marketing efficiency.

Expanding innovation has made great efforts to embrace and adopt artificial intelligence and automation technologies and consolidate their position at the forefront of the ongoing drive towards digitalization.

The main assets of the Fourth Industrial Revolution (4IR) include artificial intelligence, blockchain, financial technologies, robotics, and data analytics.
Experts believe that this revolution will touch every aspect of our daily life, from manufacturing goods to providing services.

Digital transformation is a key driver in all national agendas and programs in the region, and its benefits are visible in all sectors affected by it.

For example, the digital transformation in the business sector is expected to lead to the speedy implementation of business initiatives and contribute to achieving them with high efficiency and productivity.

Now more than ever it is necessary to harness the power of large data and advanced analyzes to increase productivity and efficiency.

Artificial intelligence is used in business applications, including operational automation, data mining, data analytics, consumer behavior forecasting, real-time assistance, natural language processing, and product recommendations.

AI technology can also remove the guesswork from your decision-making and significantly reduce mindless and repetitive tasks.

Artificial intelligence can help marketers to identify potential clients and deliver the ideal and targeted content that is most relevant to them.

AI technology can also remove the guesswork from your decision-making and significantly reduce mindless and repetitive tasks.

Artificial intelligence helps to improve personalized shopping experiences and provides customers with personalized marketing, predicts outcomes, helps generate customer loyalty, increases engagement, and improves sales and marketing.



How Artificial Intelligence is Changing Business Today?

Artificial intelligence (AI) can be used to solve many problems in businesses.
AI can help businesses provide predictive analysis, improve customer experience, detect fraud and errors, automate work processes and increase sales.

Artificial intelligence is changing the way you sell or buy from managing online conversations on websites to analyzing a huge amount of sales data to predict the closing of the deal, making the presence of AI tangible.

Artificial intelligence can dramatically reduce human interaction in the sales process and its power reaches its maximum potential when seamlessly integrated to help sales partners with more contextual information while giving your customers the personal journey they expect.

By collecting and processing information at a much higher rate than humans can do, AI will increase the selling capabilities of sales partners.

The research study by Amnesty International, "A London-based non-governmental organization", shows how sales and customer relationships are managed through artificial intelligence.

 Amnesty International leads the customer experience by acting as digital assistants to answer key queries and make relevant recommendations by analyzing customer data.

AI-powered systems can sort large amounts of data more quickly than humans can do, customers get more accurate responses.
 For example, insurance agencies make use of Artificial Intelligence (AI) in order to process claims to get rid of waiting in weeks of paperwork with 99.9% accuracy.
Amnesty International will continue to provide a human-like experience at a faster pace.

In fact, Gartner predicts that through 2020, customers will manage 85% of their relationship with an organization without human interaction.
For salespeople, Amnesty International will increase its capabilities and make it better in what they do - selling.

The potential of Artificial Intelligence ranges from automating repetitive tasks to extracting insights into which sales partners have no time or ability to find themselves.

Amnesty International will provide sales partners with relevant data and ideas at their fingertips, significantly reducing the time they spend researching and analyzing.
This will free salespeople from any task, such as entering data, scheduling appointments, or forecasting sales, which do not require building personal relationships.



Here's what experts think about "Artificial Intelligence in Business":

Viveka von Rosen, Chief Visionary Officer (CVO) at Vengreso, LinkedIn Author and influencer:

"I find that artificial intelligence is critical to our business. It allows those of us who are members of the board of directors and business owners to really do what we do best.
It allows us to be influential and allows us to go out to teach and speak while following every progress that comes to our website or is created through LinkedIn.
That way we know we don't miss opportunities, and we don't have to be on the phone or e-mails 24/7. 
Amnesty International will pay more attention to the lackluster work that allows the employer and influencer to do better".

Scott Britton - Senior Sales Coach, has a business development course and is currently the co-founder of Troops.ai: "Amnesty International will help sales staff better prioritize their efforts, but automate a lot of traditional work that requires research as well as get rid of a lot of mundane tasks, giving salespeople more time to sell and providing a better customer experience".

Jim Dickie - Co-Founder of CSO Insights: "We should also recognize the fact that B2B customers will increasingly use AI to buy.
AI will give them insight into their real needs, solutions to assess them, what other companies actually pay for these products, what current users are facing, etc., all without talking to vendors".

Laurie McCabe - Founder and Partner of SMB Group: "Artificial intelligence and machine learning will automate many of the sales and marketing processes that must be done manually today - enabling sales professionals to engage more personally with potential customers.

For example, artificial intelligence and machine learning will automate repetitive tasks, such as tracking each lead, then converting qualified customers into sales for further follow-up.

AI and ML will also help sales staff implement more successfully, relying on data to recommend next steps, alerts about new information, etc.

AI and ML will also provide sales personnel with better information about the unique needs of customers so they can provide more personalized service.

These technologies will also help salespeople do a better job of anticipating customer needs and proactively advancing with suggestions on how their solutions and services can help".

Conclusion:
In the coming era, AI is likely to significantly change business and marketing strategies including sales processes, geospatial mapping, what-if analysis, business models, interactive reports and customer behavior as well as customer service options.

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