At this point, saying that your business demands to adopt technology to accelerate growth is on the level with stating you need to make money – it’s valid, but everyone already knew that. But as the speed of technology grows, it can be more challenging to identify which development to pay attention to. One development that appears here to stay and is making a substantial impact on businesses is artificial intelligence or AI.
Though it was once a far-off idea, AI has become relatively common in the market, with products such as Siri on our phones, Google Home in our spaces, and smart applications on websites to answer questions in real-time. ONPASSIVE Artificial intelligence tools are lauded as essential tools to compete in today’s market, and several businesses are hopping on the bandwagon and that too very fast.
Here are four mind-blowing artificial intelligence tools introduced by ONPASSIVE that can boost your business in 2020.
The final goal of customer service is to engage comprehensively and quickly with your consumer base to satisfy their interests. AI can support you to enhance and streamline that experience, as multiple experts have already found. Research reveals that 80% of sales and marketing leaders nowadays use or intend to utilize chatbots on their sites in the near future. A chatbot utilizes natural language processing (NLP) technology to meet essential terms from customer inquiries with available information. Though customers might feel frustrated dealing with a simple bot, customized bots developed to complete simple tasks such as requesting account information will help a customer service representative and streamline performance. These bots, which usually take the form of chat windows, can provide anything from customer service to troubleshooting based on your industry, so research the most suitable option for your unique consumer requirements.
Although it’s a method traditionally operated by mathematicians and statisticians, predictive analytics is growing more widespread in the enterprise level than ever before. Analytics primarily shows returns for the retail sector. Predictive analytics helps to analyze online and offline customer behaviors. This, in turn, helps them to realize what to stock, what promotional events are working, and how shopping diversified by location, leading to a 137% return on investment for the company. Almost 58% of executives use predictive analytics to support business goals. This technology can be employed to help an extensive array of initiatives, like setting competitive prices, strategizing marketing campaigns, and detecting fraud.
Speaking of risk, with the speedy growth in digital data storage by companies both big and small, it should be no surprise that the hackers are evolving. One specific form of attack that has grown head and shoulders above the rest is “ransomware.” Ransomware hacks occur after a user falls prey to a phishing email, or downloads a malicious malware. These programs hack appropriate data, locks out users from accessing it, and demand a high fee to give it back. For businesses without a lot of capital to spend on cybersecurity or a sudden ransom, these attacks can be disastrous and the latest reports suggest that 60% of small companies that undergo a cyberattack are usually out of business within the next six months. Fortunately, the ONPASSIVE artificial intelligence tool is taking on ransomware by introducing machine learning into antivirus protection.
Today several businesses are discovering that artificial intelligence isn’t something to suspect, but is instead a valuable tool to enhance efficiency, make sure compliance with regulations, and improve employee engagement as repetitive tasks are automated. ONPASSIVE artificial intelligence tools protect your company from hackers, keep a careful database of your accounts, or stay in sync with your customers; this is one tech that can strengthen and empower your business.