How businesses are using AI technology to advance themselves

AI in Business

Have you not upgraded your website to HTTPS yet? Upgrade NOW.

Google with its Chrome 68 update to show all HTTP websites as NOT SECURE. Avoid Google's penalty by installing an SSL Certificate. Get a DigiCert Standard SSL and secure your website at just $157/year. BUY NOW

ADVERTISEMENT
DAILY BRIEF
Get daily updates straight in your inbox.

Artificial Intelligence is no more a technology to be used only in high-end applications by scientists or by filmmakers and authors in their fictions. It’s now becoming more relevant with general purpose computing, such as promptly responding to customers with chatbots, automating the scoring of texts written by students for grammar errors or suggesting online shoppers with products based on their own likings.

Here I am bringing some uses of Artificial Intelligence in light and explaining how businesses are creatively using the technology.

Taking care of customers

Almost all businesses need to take care of their customers. Many eCommerce businesses, which have several times more interactions with individual customer per transaction, are already using the technology. AI isn’t just robot-like chatbots simulating human behavior. It’s soon turning out to be the future of customer service. Companies are working on AI projects and platforms, like Motion.ai and Octane AI to assist businesses in creating rich AI based chatbots.

AI Chatbots

Customer care solutions powered by Artificial Intelligence can do much more than conducting conversations. They can be more end-user focused personal assistants, like Amazon’s Alexa, Google’s Google Now, Microsoft’s Cortana, and Apple’s Siri. We have mobile-focused apps like Mezi, which is an advanced AI for travelers managing their trips or virtual human-like 3D intelligent assistants, which are emotionally expressive and speak customers’ language.

AI-powered virtual assistants and customer services can take better care of customers. They can deliver a consistently superior experience without losing their patience. They have applications in a number of industries.

Preparing better foods and drinks

You may have seen how AI technology is helping businesses in the food and drinks industry for better supplies, managing inventories, and deliver orders. But have you also heard AI helping in creating better recipes for foods and drinks? If you have not, let me refer you an example. IntelligentX is a startup that brews beer by AI. In December 2016, the company introduced the world’s first beer brewed with the help of AI and put it on the sale in the UK.

The company offers four bottles beers, namely golden, amber, pale, and black. Customers can provide their feedback using the online feedback system. The feedback process is really simple. Customers can tell to the algorithm whenever and wherever they drink an AI beer. The data obtained from the feedback is then used to improve the recipes to brew the next batch.

Powering the media & entertainment industry to be a frontrunner

The media and entertainment industry is already a multibillion-dollar industry across the world. There are numerous local, national, and international media and entertainment houses, which are competing with each other to provide better content to their audiences. AI technology offers these media and entertainment companies to always have a lead over their competitors.

AI in EntertainmentNetflix and Amazon, for example, take help of their recommendation engines to come up with the content carrying traits to attract a large number of audiences. Local cable players can hardly have capabilities to carve out such a niche. Also, Netflix uses AI algorithms in its recommendation engine to help the company save huge money. The video gaming industry is also using AI technology to introduce better products in the market. Maybe you don’t know, but they are video game developers, who first applied AI technology in games. Dota 2 and F.E.A.R. are few examples of AI-powered video games.

Hot Wheels’ latest AI Race System shows how toy manufacturers can also use AI technology in manufacturing smart toys. The system uses the computer-enhanced AI to help guide your car around the track and control rival races.

Becoming brain of the modern breed of vehicles

With notional manufacturers turning international and exporting their vehicles globally, the automotive industry has become quite competitive these days. Of course, companies in this industry have to come up with the best of vehicle-options to stay as a preferred choice of customers. They have to keep inventing new types of vehicles which are loaded with unique features and, which make driving more comfortable and safe.

Smart Driver AssistAI is already helping automotive companies forming the technology as a brain of their vehicles. The NLP (natural language processing) technology enabled vehicles, for example, comes with reliable speech recognition and human-machine interfaces that make things operating in a vehicle only through the driver’s voice. The NLP-based solution by IBM helping BMW to devise smart driver-assist functions for their cars.

Natural language processing (NLP) is an area of computer science and artificial intelligence concerned with the interactions between computers and human.

Providing better education

The NLP technology can also offer sophisticated capabilities to educators. It can be used in automating the scoring of text written by students. It can detect grammar errors and examine organization structure texts.

It can further help educators to examine the vocabulary knowledge of learners by automatically generating such questions that measure the vocabulary-skills.

AI TechnologyAI can also be used in grading students more accurately. It can automate the grading process and provide grade more than just standardized assessments. AI-based solutions can support both teachers and students, meet their needs, turning teacher to act more like the motivator and do a lot more.

Introducing desired flexibility to the oil and gas Industry

There have been too many fluctuations in oil and gas prices over the recent years. These fluctuations force businesses to keep a sharp eye on their activities. They may have to adjust wages, terminate contracts or renew them, cut investments or begin new projects. Doing this all manually is really a hard job and businesses can miss a lot of important things.

Here, AI tools can be used for better planning and forecasting of future trends, predictive maintenance, logistics, and lot more.

How businesses are using AI technology to advance themselves