Published on November 22nd, 2020
It is widely anticipated that Artificial Intelligence is set to embed itself in all the important aspects of our lives.
We are surrounded by Artificial Intelligence where machines are connected, all the while making our lives easier.
Many e-commerce and retail businesses are incorporating Artificial Intelligence in their operations to improve the efficiency and effectiveness of their company.
Artificial Intelligence is making a significant contribution towards the improvement of the customer experience, which benefits both, the business as well as the end customer.
One of the major reasons for the success of Artificial Intelligence is that this technology is capable of innovating on its own as it is interconnected with other devices also known as the Internet of Things.
In the coming years, Artificial Intelligence will completely revolutionize the way businesses carry out their day-to-day operations.
How Can Business Organizations Benefit From AI And IoT?
According to Forbes, the combination of artificial intelligence and the Internet of Things holds a lot of potential.
In the upcoming years, around 90% of the firms will compete against each other based on customer experience.
Instead of guessing what the customers want, companies will spend a big chunk of their profits on improving their research department so that they can gather authentic insights as to what customers are looking for and how much are they willing to pay for that particular commodity.
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With that being said, let us shed some light on the five revolutionary benefits that you get upon combining artificial intelligence with the Internet of Things.
1. Chat Robots
Chat robots are innovative bots that are being used to serve the customers better. These robots act as customer service agents that are always available to help customers find the answers that they need.
By the year 2020, more than 80% of the marketing and sales professionals will apply the technology of chat robots in their business to cater to the needs of the customers.
2. Virtual Assistants
Virtual assistants are becoming increasingly popular these days as the latest versions of smartphones come with built-in voice assistants. Consumer products tripled in sales as more people are shifting towards voice assistants.
The main objective of any company is to fulfill the demands of the customer and engage them on a personal level, this leads to customer loyalty.
Artificial Intelligence allows marketers to send customized messages to customers, which leads to better engagements and conversions.
4. Visual And Voice Search
The way customers search for products and services has completely changed because of the innovative techniques introduced by Artificial Intelligence.
Voice recognition is already a boom because people can save time by speaking out the words that they want to search on the internet.
In addition to this, major improvements have been made in facial recognition technology, allowing it to recognize the faces of individuals on social media platforms.
Moreover, visual recognition allows law enforcement to identify criminals who are on the run so that they can easily catch them without wasting resources, making the world a safer place.
Furthermore, Augmented Reality improves the shopping experience by allowing the customers to try clothes on without needing to travel to the store.
5. Emotion Artificial Intelligence
Emotion Artificial Intelligence is also known as affective computing which aims to recognize human expressions and emotions to deliver a better experience to the users and engage more customers.
Companies are already looking for ways to gain deeper insights into consumer behavior and demands to provide more personalized service to customers.
Technology is growing at a very fast pace and to become a successful enterprise in the market, you must keep up with it by adopting all the latest technological advancements.
That is all we have for you for now. Stay tuned for more updates regarding technology and business growth.