5 ways AI is changing the tech industry

30. June 2018

There is nothing that technology won’t influence and eventually transform beyond recognition. Some changes occur suddenly, while others happen incrementally and people have the time to adjust. Artificial Intelligence is one of the most exciting topics of conversation among a broad spectrum of fields. The entire tech industry is impacted by its advancements and the wheels are set in motion for irreversible changes. From customer support and recruiting to the Internet of Things, AI is transforming the industry.

An important milestone for customer support

Providing the best possible assistance to clients is a top priority for big corporations and small businesses alike. Keeping in touch with customers and making sure they are well looked after is an important ingredient in the recipe for success. Artificial intelligence has been used for quite a while for customer service in the IT industry but its role is constantly expanding. There are more companies today than ever before using chatbots to provide 24/7 assistance to those in need.

Not only the frequency, but also the quality of customer support offered by such bots is on the rise. The advancements of artificial intelligence made it possible for people to get assistance without even talking directly to a human. The bots are constantly improving using machine learning and their algorithms are better with each passing day. Sometimes they are so good that customers don’t even realize they talk to an automatic program and not a real person.

Lyft is another shining example of company that uses artificial intelligence to deliver better customer support. The messenger bot provides users with information regarding the driver’s location and the vehicle, as well as the license plate. This provides people with the means to make an educated decision and avoid unpleasant surprises. The AI is smoothly integrated with third-party applications, such as Slack.

In the highly competitive world of finances and banking transactions, MasterCard has a dominant role. The company uses artificial intelligence to consolidate its position, but also to provide customers with better service. They can check on accounts transactions and learn a great deal about their spending habits, by using Mastercard’s Facebook Messenger bot. To make purchases from Cheesecake Factory, Subway, FreshDirect, and other partners, people can use the Masterpass for enhanced convenience.

Get to know your customer better

When it comes to artificial intelligence, interactions with clients are not reduced to customer support. These programs can help businesses learn a great deal about existing and prospective customers. As technology advances, many businesses are tempted to rely almost entirely on chatbots and programs. Eventually, the future of customer experience is likely to be linked closely to AI and bots will probably be able to replace humans completely.

Having said this, for the time being companies need to be careful when crossing the thin line between automatic and personalized support. Cost-saving solutions can be tempting, but they shouldn’t be chased at the expense of customer satisfaction. Cutting down costs on short term can backfire badly so relying exclusively on bots can be dangerous. The challenge is to find the perfect mix between AI and human agents and to ensure that humans remain an integral part of customer support.

Starbucks already have one of the largest commercial chains in the world and they are constantly expanding. To maintain this pace and to stay in touch with customers, they resort to AI to improve the user’s experience. Their mobile app is used by more than 17 million people and 13 million are hooked on their reward program. This provides them with a lot of information that can be used to meet customers halfway. The AI acts as an invaluable tool in analyzing and interpreting all these numbers.

Starbucks uses artificial intelligence to deliver a personalized experience to customers. People authorize the apps to collect information about the drinks they prefer, so the company can recommend the best product. The AI goes beyond compiling data and makes suggestions based on subtle elements, such as the time of day, weather, and so on. These enhanced, personalized and targeted marketing techniques would’ve been impossible without using these algorithms.

Better and more customized overall customer experience

There’s plenty of useful information that an AI can collect for the benefit of both business owners and customers. There is nothing nefarious about artificial intelligence and when used right, it can help both parties involved. The online casino industry was among the first to take full advantage of the giant leaps forward made by technology. Now, leading operators are turning to AI to give the players a better customer experience.

When it comes to artificial intelligence, progress is fast and results self evident in a relatively short period of time. Having said this, it takes a while to extract the most from the new technologies. Machine learning is just as the name suggests, a time-consuming process and the algorithms get better through practice. Players inadvertently contribute to this progress and ultimately help the AI better advance their interest.

The benefits of AI in online recruiting

There is plenty of talent out there and companies try to tap into the immense potential of such unpolished gems. Highly qualified individuals are waiting for a chance to prove their skills, but often they remain unnoticed. Companies go to great lengths and spend large amounts of money to find the best candidate for the job. Experienced interviewers eventually get it right, but the process is time-consuming and results are not guaranteed. This is where artificial intelligence can make the difference and greatly improve the odds.

AI is changing the game for recruiting and already helps human specialists with screening applicants. Even today, algorithms are better at picking the right candidate when hiring in a broad spectrum of fields. There are of course things that only humans can figure out when it comes to determining the overall quality of a candidate. Artificial intelligence on the other hand is impartial and analyzes all the facts to determine who is the best person for a job.

Pushing the Internet of Things further

The fancy concept of Internet of Things is actually centered on the idea of sensors that integrate online data and devices for the benefit of users. IoT-related services are on a constant expansion, but any major breakthrough is indissolubly linked to artificial intelligence. To set more milestones and to provide the best possible service to users, the human mind requires a little help. IoT needs AI to succeed and the good news is that it is already getting a lot of help.

The cornerstone of progress is machine learning, which aids Internet of Things services during the analysis phase. To provide the kind of support that users expect, devices must collect a lot of information and have the ability to analyze the data in real-time. Unless gadgets are able to tell the difference between emergencies, normal occurrences and irregularities, they can do more harm than good. A powerful AI, learning from its mistakes and sharing this information across the network can be an invaluable ally.

A quick glance at the numbers highlights the fact that the future looks bright for artificial intelligence. An Adobe report suggests that even though only 15% of companies use AI today, twice as many are expected to use it for the next year. Consumer personalization, AI and voice search have emerged as some of the hottest marketing trends, with a combined 75% of respondents regarding them as the next big thing.

PwC interviewed business leaders and 72% of them believe that artificial intelligence is essential for their ventures. Consumers might not be fully aware of the impact of AI over their daily activities, as only 33% believe they use technology enabled by artificial intelligence. The truth is that 77% of them do so and when interviewed by Arm, 61% of respondents believe that AI will make the world better.

The post 5 ways AI is changing the tech industry appeared first on ClickZ.

Original source: https://www.clickz.com/5-ways-ai-is-changing-the-tech-industry/215421/


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