Artificial Intelligent

The impact of Artificial Intelligence in Business has the potential to increase productivity by 40 percent or more. With the World Economic Forum statistics on the impact of AI by 2022, over 75 million human jobs will have been replaced by AI, at the same time, creating 133 million jobs, refuting the misconception that the adoption of AI will leave more people jobless.

WHAT IS AI ?

With the increasingly vast amount of data available today and the constantly evolving preferences and complexity of customers, businesses or organizations can no longer rely on traditional business methods to drive growth. These radical changes have opened up new realm of possibilities, with AI, to drive business growth through actionable insights generated from customer data.

Artificial intelligence simply involves the use of intelligent computer software with human-like capabilities to boost revenue, improve customer experience, increase productivity and efficiency, and drive business growth and transformation.

WHY SHOULD USE AI ?

The need for businesses to uniquely understand the needs and preferences of customers is invaluable in today’s business world; to thrive and maintain relevance within the fierce competition. Using artificial intelligence, companies can now uniquely understand and engage customers, automate business processes and improve productivity and revenue while reducing operational expenses.

WHICH SECTOR ARE USING AI?

AI in Customer Service

With the advent of chat-bots, customers can now interact with companies in real-time to resolve complaints, place orders, get information and do almost anything they would require from having a conversation with a human customer-care representative. This will alleviate the need for humans in customer interaction, reducing business costs and exponentially improving customer care accessibility and conversational experience.

AI for Big Data

With the increasing amount of available business data, finding insights from the data can be quite challenging. AI must obtain valuable insights from data to process. These insights help companies improve the effectiveness of marketing, understand customers better, perform segmentation to create personalized experiences, and develop business strategies to aid corporate decision making.

AI for Marketing

The key to growing company revenue requires knowing the wants of a consumer and knowing what to market to each consumer. With data obtained from the online activities of customers, companies can now use AI to predict and target who to market a particular product to in order to increase the chances of sales and effectiveness of marketing activities at the same time, reducing the overall marketing cost.

AI in Producing Reports

Companies now use AI to generate automated business reports without human supervision and also carry out sentiment analysis to understand people’s perception of their brand from various online comments, tweets, etc., about the company. Through sentiment analysis, companies can constantly understand the perception of people on their products and services. This helps to improve the quality of services and personalized product offerings.

BENEFITS OF AI?

Automation of processes

Fraud detection

Improved and more reliable customer service

Better understanding of customers and improved experience of services

More positive results from marketing activities and increased revenue

Bestpay is just scratching the surface of AI and its possibilities can only exponentially increase. Companies that do not want to miss out on
the revolutionary future of business, must, inevitably, embrace the use of AI as a guiding light. Contact us !

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