Science fiction and Hollywood have long polluted the perception of artificial intelligence with doomsday prophecies and new world order, and while these perceptions have been shared by some of society’s most prominent scientific and innovative minds, is it enough to cast aside the real potential of machine learning in commercial endeavors? The truth is, AI is a long way from global domination. While there have been massive strides in computer learning capabilities, the systems are still heavily designed and controlled by humans. The current reality is that intelligence systems are critical to the commercial and consumer landscape. The global economic structure and disintegration of borders digitally have led to an increase in competition and challenges that requires a more streamlined approach to the consumer experience and quality monitoring.
It has long been speculated that the benefits for commercialized AI were better suited for manufacturing and repetitive production tasks, and while that may be true, artificial intelligence requires a data infrastructure that many manufacturers lack. Therefore, instead of focusing only on production, computer programmers pointed to the analytical ability of these systems, demonstrating how automation and AI can improve the customer experience and ultimately quality monitoring and control.
The primary purpose of artificial intelligence is found in its ability to analyze massive datasets in a fraction of the time it takes a human, and this analytical advantage means everything in today’s marketplace
Personalization
With increased competition, retailers need to find ways to stand out in a crowded marketplace. The gold standard in the early days of the internet was allowing for personalized page layouts. However, as time progressed, the need for improved personalization became a necessity of productive and lucrative customer experience. Therefore, companies started implementing advanced machine learning systems to quantify and design experiences tailored to a specific customer’s needs and desires. Many systems now allow businesses to customize deals and newsletters to a customer and deliver these items in a way that is specific to their preferences.
Improved Relationships
As artificial intelligence allowed for customization on the frontend, it has also provided the same on the backend. Instead of institutions blindly offering services to consumers who may not be interested, computer learning systems can discern the products that each customer is likely to be interested in, allowing for improved efficiency through rapid-fire analytics. The evolution in these systems now means that a business’ salesforce does not have to spend hours on going-nowhere leads because they are now provided with a list of potential buyers with a high probability of sales conversion.
Reduction in System Abuses and Redundancies
It is common knowledge that humans have a higher error rate than automated artificial intelligence systems, and this is in large part due to the machines inability to grow tired. When systems are designed and managed only by people, there is an increased chance of failure. However, with AI monitoring, companies will likely find a reduction in system abuses and redundancies, resulting in less fiscal waste. These improved capabilities, however, will not result in the loss of personnel. All computer systems must be monitored and maintained, and while an AI system can pinpoint possible abuses and redundancies it is up to human intervention to determine the reliability of those findings.
Analytics
The primary purpose of artificial intelligence is found in its ability to analyze massive datasets in a fraction of the time it takes a human, and this analytical advantage means everything in today’s marketplace. The ability to dilute thousands of consumer reviews into actionable data in real time is beyond impressive. The reactive nature of these advanced computer systems means that companies are capable of being proactive and responsive to customer needs. Also, the ability of these machines to scrutinize the details of services and production means that companies can eliminate discrepancies in their processes, leading to reduced costs and improved quality control.
Innovation and Natural Language Processing
Innovation in artificial intelligence has already changed the game regarding customer service and quality assurance. Recent developments in natural language processing technology delivers consistent and accurate analysis within “big data”, allowing businesses to focus on the results from a variety of sources.
- Structured data sets
- Unstructured data sets
- Customer feedback
AI creates the opportunity for faster and more informed decisions concerning strategy and service execution. The ability to make decisions from non prejudicial information allows companies to curtail their outputs to consumer wants without corporate vision and pride interfering. Therefore, perceived value and quality of service are shifted to consumer-driven ideals, which is made easier with the evolution of machine learning technologies.
Artificial intelligence is not yet sophisticated enough to bring about an era of human subservience, and whether it ever will be capable of such a task is still in question. However, as currently designed these systems are exceptional tools for quality management, allowing for increased efficiency and a better more customizable consumer experience. If you or your business are interested in how AI and computer analytics may improve or reshape your company’s profitability or customer outreach, then contact Etech today.
