6 cool examples of artificial intelligence use in business
Artificial intelligence is one of those technologies that always seemed to lurk somewhere just over the horizon, promising much but perennially underdelivering. In the blink of an eye all that changed.
Now AI seems to be permeating every aspect of our lives and people are discovering numerous uses for what is – in effect – the technological equivalent of a Swiss Army Knife.
Nowhere is this disruptive change more apparent than in business, with one in three small businesses now using AI. But how are they using it? That’s what we will examine here as we look at six cool examples of how AI is transforming business processes.
AI in business: innovative uses of an innovative technology
The term ‘disruptive technology’ is often bandied about without much actual disruption accompanying the technology in question. The same cannot be said about AI, in a few short months it has become the most disruptive technology of the century.
With applications spanning everything from AI-powered camera security systems for business to revolutionising customer interactions, the rise of AI in business is unstoppable.
Here are six examples of AI use in business, examples that merely represent the tip of a very large iceberg:
1. Automating routine cognitive work
The manpower burden of routine mundane tasks is being eased with AI increasingly taking on the responsibility of repetitive tasks across just about any industry.
The benefits for business include:
- Efficiency: rapid data processing and summarisation without human errors
- Time-saving: automation allows employees to focus on strategic tasks, enhancing productivity
- Consistency: uniformity in tasks like data entry, ensuring data integrity and reducing discrepancies
2. AI in retail: personalised customer experiences
AI is transforming the retail experience. Forward-thinking retailers are harnessing the power of AI to offer bespoke shopping experiences tailored to individual preferences.
Among the benefits of this approach are:
- Personalisation: AI algorithms suggest products based on user behaviour, ensuring customers find what they're looking for
- Inventory management: predictive analytics ensure stock levels match demand, reducing overstocks and stockouts
- Enhanced engagement: chatbots and virtual assistants provide instant customer support, elevating the shopping experience
3. AI-powered security solutions
The age of Robocop isn’t yet upon us, nonetheless, AI is helping to make existing technologies all the more effective. From business security cameras that use AI analytics to advanced cybersecurity systems that help protect a company's data, AI is helping to boost security measures.
Some of the benefits of this approach to security include:
- Real-time monitoring: instant alerts for any security breaches or suspicious activities, ensuring timely interventions
- Behavioural analysis: AI algorithms detect unusual patterns, offering proactive threat detection and prevention
- Advanced threat detection: identifying vulnerabilities and potential risks, ensuring a fortified security perimeter
4. AI in hospitality: enhancing guest satisfaction
The hospitality sector is all about – well hospitality. And while the human touch is always a central factor in this, AI is being integrated to elevate the guest experience to new heights.
Here are a few of the benefits AI can bring to the hospitality sector:
- Tailored experiences: AI systems analyse guest preferences to offer personalised room settings, dining options, and activity recommendations
- Efficient operations: streamlined check-ins, bookings, and guest queries, ensuring a smooth guest experience
- Predictive insights: AI-driven tools forecast guest needs, allowing hotels to proactively cater to them
5. AI in office management
Technology isn’t the only thing to recently experience a disruptive new kid on the block, our working habits have also gone through a recent and disruptive change. The shift to a remote/hybrid working model has transformed office spaces and how workforces are managed.
AI came along at the perfect time to become a ‘companion’ tech in this seismic shift and among the benefits it brings to the table are:
- Workspace optimisation: AI analyses office space usage, suggesting optimal allocations and configurations
- Energy efficiency: smart systems adjust lighting and temperature based on occupancy, promoting sustainability
- Enhanced collaboration: along with project management software, AI-driven tools like virtual meeting assistants streamline communications, AI recruitment softwares streamline hiring processes making team collaborations more effective
6. AI in marketing and customer engagement
Successful businesses understand the importance of marketing and how to keep their fingers on the ‘marketing pulse’. However, we live in an age when marketing trends change on an almost daily basis. Not good news for marketing professionals wanting to stay ahead of the curve.
AI is being increasingly used to provide marketing insights by analysing massive amounts of customer data. The marketing and customer engagement benefits of this are multifold and include:
- Targeted campaigns: AI analyses customer behaviour, allowing for the creation of bespoke marketing strategies that hit the mark
- Instant engagement: chatbots and virtual assistants offer real-time customer support, ensuring queries are addressed promptly
- Content creation: text to image tools like MidJourney V5 bridge the gap between customer feedback and content creation, helping teams create visual marketing material drafts directly linked to customer insights
- Predictive sales analytics: with AI, marketers can gain insights into potential sales opportunities, optimising campaigns for maximum impact
- Up-to-date market research: thanks to AI, you can track competitors‘ prices and make data-driven decisions about your pricing strategy
AI in business: an intelligent solution
The topics we have covered were chosen to demonstrate the versatility of AI as a business tool. It is already transforming the workplace in numerous ways, and it is worth remembering that this can still be considered a fledgling technology.
While the benefits are there for all to see, there are challenges ahead as we struggle with the ethical and privacy concerns of the technology. But with a little intelligence, we can navigate these challenges and use AI for the benefit of businesses, their customers, and society in general.