It is 2017 and robots are here but there is nothing to fear from artificial intelligence (AI). In fact, AI will help boost your sales, increase conversions and ensure that your business thrives and remains relevant in a constantly changing world.
If you have opposed AI so far, because it seems too complicated, then read on. We are going to explain how it can turn your sales into plain, understandable English. We will cover everything from chatbots and personal assistants to how AI can affect your email marketing efforts and tighten your security.
As a business owner, this may be the most important article you have read as you protect the future of your company as AI is already everywhere. Your opponent is already using it, and it is the future of everything.
You must have already heard about each post. They have been circling for some time now. But what does each one do?
They are all inter-related. Artificial intelligence is like a father figure – it came first. This was followed by machine learning and then deep learning, both of which support AI in its own way. Each of the latter is fit inside AI, with much to learn about AI’s recent innovations.
Of course, artificial intelligence has long captured the imagination of the public. When it was first introduced in the Computer Science Circle since 1950, it has been confined to people’s minds as it is out of a sci-fi film.
Was AI going for a birth robot? Will it take over the world?
In fact, it is as recently as 2012 that artificial intelligence finally took off. Since then, it is becoming more and more advanced. These days, AI is the reason why technologies can perform certain tasks, such as voice and facial recognition on a smartphone.
Where retail is concerned, AI is able to identify patterns, analyze data sets, and create a more personalized shopping experience that you or you simply cannot.
Machine learning, meanwhile, is a subset of AI. It uses algorithms to gather and learn data before making predictions or concrete determinations about something. Coding a set of instructions by hand to complete a task is very different. Instead, machine learning is trained to sift through huge swats of algorithms and data before learning how to perform a task, such as chatting with your customers and personalizing content.
Intensive learning, by contrast, is a technique that implements machine learning. This has allowed various practical applications that can advance machine learning, and is therefore essential for the future of AI.Deep learning helps break down tasks so that many machine assistants are also possible, such as driverless cars.
Sales cycle can be personalized
Personalization of the sales cycle helps you learn more about your customers and what they want. According to a survey of 206 organizations conducted by Average and Researchscape International, 96% of the 206 organizations surveyed believe that personalization helps to advance and strengthen customer relationships.
Here’s how privatization can be implemented with the help of AI:
Tailor Product Recommendations
It is hard to know what the customer wants until you have some information about them, such as their previous purchase habits.
AI collects this kind of information so that it is able to provide more customers to each person that they want and less than what they do not want. Then from here, you can develop personalized sales strategies that are based on accurate customer trends.
If anything feels like AI, it’s Amazon’s Alexa, a very personal assistant of a person.
Alexa relies on various physical devices – from Fire TV to Amazon Tap – to use as her brain. And while she emerged as a gimmick in 2014, in which people talked to place an order, she is now a trailblazer when it comes to how AI can do business with personal assistants.
An AI shopping personal assistant can communicate with your customers in different languages, as well as help them check their preferences. A customer can ask a question from an AI personal assistant and get a quick, accurate answer. This means that, instead of clicking empty-handed from their store, the customer can make the right purchase.
Here you can see that Stitch Fix offers a personal stylist, a different type of personal assistant powered by AI. It uses data analysis software and machine learning to match users with personalized clothing options.