AI powered personal assistants like Amazon Echo, Apple Home Pod and others are certain virtual assistants that help in performing basic stuff. It is no big deal if these assistants recommend you to buy products in future, or analyze your health by listening to your voice.
- Market Research Tool
IBM Watson has already proved that AI can conduct research for your business, compare your organization with your competitors’ thread bare and provide detailed reports on the same. Already AI is making buzz in the market by providing accurate decision-making ability.
- Sales Tool
AI can be used to improve every stage involved in sales process by generating more qualified leads by researching out the lead’s persona, create better customer segments in the market and couple with CRM systems to accurately analyze your users’ needs and buying behavior at granular level
- Digital Marketing
Ai can be used as a massive content generation tool and can coupled with SEO to help organizations rank their websites in a very small time. AI can be used to effectively analyse the relationships existing between sites, quality of content pages and their search engine rankings.
- Email Marketing
Since email service providers have a lot of data, so AI finds greater scope of application. AI can be used to improve email marketing campaigns by analyzing the subject lines which accrue maximum open rates, the length and other attributes of the email campaigns that is generating maximum engagement and so on. A tool called Boomerang Respondable uses AI for analysing emails written in Gmail.
A Finnish firm, Tieto have chosen to include AI for leadership building in the organization. Ai can analyze massive volumes of data and bring out vital insights that can help leadership grow.
- – Customer Service
With AI powered chatbots and Powerful ML models to streamline the customer relationship management process. AI is already creating ripples in the customer service industry. AliMe chatbot launched by Alibaba uses voice recognition, recommendations system and semantic understanding to take customer service to another level of delight for users.
All the routine, repetitive and rule-based works done by accountants are being automated by AI and hence reducing the time required in accounting activities and driving accuracy.
- Human Resources
AI technologies are widely being used for training employees and mapping their progress along the learning curve. Not only that, AI is being used for screening candidates for hiring through analysis of their video presentations.
A competition was organized between the AI platform LawGeex and lawyers having long experience in the legal field. The results show how AI can out perform lawyers in some works
Time limit allotted: 4 hours
Task: Identifying legal issues present in NDAs (non-disclosure agreements)
- Lawyer’s team: 85 percent
- AI modules: 95 percent
- Lawyer’s team: 92 minutes
- AI modules: 62 seconds
Owing to various tasks being repetitive and rule based, AI can be effectively employed for improving the legal field.
There are many tasks in finance which require intricate rule based calculations and drawing inferences based on that, the very zone that AI excels in . So , it is quite a possibility that many financial advisors are replaced or aided by ‘Robo Advisors’ in future.