How modern day AI-based products are empowering businesses?

Published March 8, 2021   |   

Artificial Intelligence and other smart technologies are used to empower businesses from every industry, regardless of location. Moreover, smart technologies help companies gain an advantage in front of their competitors, so they are changing the business landscape at an increasing speed.

Therefore, today we’ll have a look at some of the most innovative and useful AI-based products that help businesses stay competitive and get the lead in their niche.

#1: AI-Based Devices in Logistics

While the logistics industry benefits from a wide range of sensors and GPS-enabled devices, the product that brought the most improvements is the AI-based dash cam for trucks. This product is mounted on a truck’s dashboard and has a wide range of features that allow fleet managers to monitor drivers and optimize routes. Due to these devices, trucks get in fewer traffic accidents, transport speed has improved, and costs have dropped.

Moreover, a smart dash cam can be used in insurance claims, to reduce the time spent with deciding the culprit. As a result, fleet owners spend less on traffic incidents and can invest more in research and development.

#2: The FinTech Industry

The FinTech sector is possible due to smart and secure devices that can connect to the internet and allow customers to perform financial transactions in the blink of an eye. But things are getting even better now that AI is involved.

We now have smart software products that work hard to prevent fraud and cyberattacks. In addition, AI systems are used to allow customers to use various financial products online, without needing much assistance from human intermediaries. For instance, among the AI-based technologies that transform the financial sector, we can mention smart digital products that can be integrated with smart voice assistants (such as Alexa or Siri) in order to allow customers to make purchases by voice command or even automated settings.

#3: Intelligent Chatbots

Customer service is one of the most important elements for a company, regardless of the industry. However, human operators are slow, expensive, and prone to error. Enter the age of intelligent chatbots that can use human-friendly speech and can perform complex tasks in a matter of seconds. While we are not at the level where chatbots can replace humans entirely, low-level interactions are handled nicely by smart chatbots.

#4: Automation in Email Marketing Customization

When you juggle a few hundred customers, emailing becomes incredibly difficult. This becomes even more challenging for online marketers who have to customize the emailing process if they want successful campaigns.

Even today, emails are one of the most effective ways of communication when it comes to promotions. However, most customers won’t open an email that’s general and doesn’t address their needs. Therefore, to keep up with the work volume and still send customized newsletters, online marketers use automation software with an AI core.

#5: Analytics and Business Forecasting

Big or small, most businesses today must work with Big Data systems in order to keep an eye on market trends and changes. However, given the sheer volume of data that pours from various sources every minute of the day, t would be impossible for a human operator to process everything in real-time.

Luckily, nowadays we have AI-based software tools that can process the data, create customized reports, and issue forecasting analyses to pinpoint the trends and provide some insight.

Wrap Up

At a closer look, AI systems and other smart technologies are everywhere. Therefore, it’s up to each business to decide on the products they’ll use and when. However, one thing is clear: the ones who refuse to integrate smart technologies with their business are going to be the first ones to be left behind.