Artificial Intelligence- The Next-Gen Tool For Business

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Artificial Intelligence- The Next-Gen Tool For Business
10 Sep 2021
6 min read

Blog Post

In the 21st century, there is hardly any significance of hard work, entrepreneurs are opting to do smart work instead, and artificial intelligence is just the right tool for them to win a top spot in the race to excel way beyond others. Artificial intelligence has become everyone’s go-to tool to expand their business and enterprise, A.I. not only is in trend but also handles complex data easily. Read on to find out how A.I. is the future-ready tool for making your business grow by many folds. #ThinkWithNiche

Before we begin exploring how A.I. can be helpful to boost one’s business or enterprise, let us first look at some stats collected from reliable sources; according to certain surveys, 71% of people believe that A.I. will help people solve rather complex problems and live a comparatively relaxed life, 58 to 74% people are of the view that A.I. will promote economic growth, cyber security and cut down major health concerns, and 83% business owners believe that A.I. advisors are likely to play fair with their human counterparts. 

In some sectors of business aspects, such as client relationships, in competition, and productivity, A.I. has shown certain advances; let’s explore how

1. Strengthen Relationship With Clients

Want to learn how to give your clients a personalized experience or predict their purchasing pattern and give them products according to wishes and needs? A.I. comes to your rescue just in time to strengthen and support your customer relationship strategy. A.I. has the ability to learn customer behaviour, and over a period of time, it helps give a personalized experience to customers, making them valued in the long run. The best example is that of Amazon; their A.I. system was quick enough to gather all customer-based info via their search section and provided a segment of products dedicated to the potential buyer's interest. To ensure an established and steadily functioning e-commerce business, A.I. is just the right tool to give the much-needed push.

2. Assist In Competition

It is not a hidden fact that A.I. can land you ahead in the race to win the competition in today’s leading industries. According to a survey, 97% of respondents felt that A.I. has a competitive edge advantage. It reduces turnaround time for pricing requests and can easily process marketing and business catalogues to increase business dominance and communicate values. If properly implied, the pricing team can gain more info about customer behaviour via the perception of value through A.I. In the long run, data-driven companies who are better informed of their customer choices, perception, and insights function organizationally well and achieve success easily.

3. Boost Employee Productivity

If you look at it, in one way, A.I. can help reduce marketing and sales team staffers, and on the other hand, it can help the salespeople potently by assisting them in reaching the potential client, demonstrating their interests, gather price recommendations and help track any revenue leakage. A.I. is smart enough to identify a customer’s buying pattern, whereas humans might make a natural mistake. It is no surprise that A.I. can greatly benefit the sales team. In a survey, some 39% of respondents feel that A.I. can help enhance operational efficiency. Imagine if the sales team knew exactly which customer to target; wouldn’t the revenues go up multiple times? Isn’t it? Exactly that is where the magic of A.I. lies. All these smart facilities of A.I. help ensure profitability.

A digital transformation like artificial intelligence is combustion for the growth of enterprises across India and the world; what is more interesting is that this system is promising and gaining popularity in Indian startups. 

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