Artificial Intelligence is everywhere, be it your home, car, healthcare, education, or even your mobile phone and smartwatch. AI has a major impact on how we live and what we are doing. Considering the dominance and benefits of Artificial Intelligence, many organizations have also started adopting it to maximize their productivity and the top and bottom lines of the business.
Even the top survey by large survey specialists suggests that AI has gradually increased its market share and is close to doubling amongst large organizations. Due to the adoption of Enterprise AI solutions, organizations have even beaten their competitors and made themselves industry leaders.
But how did the organizations benefit from AI solutions? What has been the secret recipe of Artificial Intelligence that has made organizations thrive and succeed? Let’s uncover Enterprise AI solutions.
7 Next-Generation Enterprise AI Solutions
Organizations have started relying on Artificial Intelligence solutions because they offer ample benefits and overcome several challenges. The most common technologies that have always been the talk of the town are Natural Language Processing, Robotic Process Automation, Computer Vision, Deep Learning, and Machine Learning.
Here are the top 7 innovative solutions for Enterprise AI you can adopt and thrive in your business.
Frauds are rising, and curbing them entirely is daunting, but what if you have a tool that detects and prevents upcoming fraud? The banking industry has widely adopted AI to detect fraud and has also noticed a considerable decrease in the number of frauds. The model utilized cardholder identification data, location, transaction time, and fraud amount. A model needs to detect the anomaly to place a notification system for any such transactions that happen in the future.
Customer Service Enhancement
In the fast-paced world, nobody likes to wait, and everyone will be pleased to get answers promptly. Considering this as a need of an hour, AI can help you with chatbots built using Natural Language Processing to answer their queries. Artificial Intelligence can even help find customer emails and complaint patterns to improve your service or product. AI offers personalized customer experience to overcome challenges and resolve issues faster.
Automation of Tasks
Many monotonous and time-consuming tasks like data entry, customer service, and product recommendation consume most of the productive time. Leveraging Enterprise AI solutions can automate these tasks, improve efficiency, and boost the bottom line. AI can build new and improved strategies for automation and marketing departments to succeed in the competition.
Artificial Intelligence is so advanced that it can detect security vulnerabilities through several authentication methods like password protection, CAPTCHA, facial recognition, and scanners. All thanks to Machine Learning for making these AI solutions possible and placing high-end security to detect and prevent security threats. Not only prevent but it can even identify malicious actors and strengthen the defense system of your software.
Another great Enterprise AI solution on the list is analyzing and interpreting the most valuable asset – Data. AI helps extract a wealth of information by analyzing data using machine learning and natural language processing. It identifies insights and patterns for optimum data interpretation. AI can even interpret sentiments through texts and analyze user behavior through social media. Through this, you can improve your products or services and cater better services to your customers.
Being proactive is what can make you an industry leader. Leveraging predictive maintenance can help you know when a machine breakdown could be, what hinders business growth, and how to improve customer service. Issues can be flagged using Predictive Maintenance and proactively prevent system failures of machinery. As a result, there can be more uptime, equipment improvement, and reduction in maintenance costs. Predictive maintenance can satisfy customers and retain them for the long term.
eCommerce companies leverage the Product Recommendation system to suggest products based on their buying behavior. It increases customer satisfaction and ensures they have a memorable experience with the website. Other predictive analytics uses are anticipating shipping, customer behavior, buying patterns, and recording inventory at the nearest warehouse. AI can also be used for optimizing product or service pricing, which even helps companies determine discounts and earn a good share of profits.
If you want to partner with an enterprise software development company, look for a company with hands-on experience in leveraging AI and successfully executing projects. Consider the enterprise software development company that has a high customer retention ratio and clients that say to have noticed considerable growth and improvement in their business post leveraging AI through the company.
Since Artificial Intelligence has been in the market for more than a decade now, you must always ask the software development company to make the optimum use of modern technologies innovated in AI. Only then can you prosper and beat the competition.
Chandresh Patel is a CEO, Agile coach, and founder of Bacancy Technology. His truly entrepreneurial spirit, skillful expertise, and extensive knowledge in Agile software development services have helped the organization to achieve new heights of success. Chandresh is fronting the organization into global markets in a systematic, innovative, and collaborative way to fulfill custom software development needs and provide optimum quality.