How Artificial Intelligence Aids in 5 Central Areas of Marketing
May 23, 2018
Technology and advancements in healthcare are progressing rapidly. Only a decade ago, the typical procedure was that you went to the hospital, checked in, were added to a waitlist and waited to see a physician. Sometimes, you would sit and wait your turn for several hours.
As human beings, we have a penchant for machines doing our mundane tasks for us. The industrial age mass-produced the toaster, the electric kettle and the washing machine as prevalent “labor-saving” devices, and they eventually became part of our everyday life.
The progression to artificial intelligence (AI) makes sense in that context. Artificial intelligence — the latest buzzword in the business world — has already proven effective at automating repetitive tasks in sales and marketing, accounting, HR and more.
The requirements are demanding, individual and personal, up to date and consisting of modern technical standards and in all this showing immediate results - our digital era has led to business activities in which customer communications take centre stage, demanding a great deal of rethinking from companies of all sizes and segments.
Long before the breakthrough of artificial intelligence (AI) and robotic process automation (RPA), managing communication with clients was a rather simple task. Contacts were made telephonically, concerned users called the helpline about small issues and posted a letter whenever more details were necessary. No other touchpoints were employed. Another major difference compared to today was the extended period it took to solve the task. In former times, it was solely dependent on the company to decide the time span. This went on until the Internet pushed its way through. Thanks to digitization, the power has shifted and now the clients have their say! Consequently, customer service procedures were turned upside-down and had to be rethought.
Banks like in most other business, the customers are now more demanding than ever. With the rise of smartphones, Amazon’s Alexa, Social Media, and the growth of self-service options both online and at ATMs, there’s now an expectation that consumers should be able to complete major banking activities whenever and however they want. Banks are now under pressure to improve and offer more channels. But in today’s environment, simply having an online banking solution or self-service options in the contact center is not enough, and this is where banks that have not yet fully embraced OmniChannel need to do so.
Around the world, there are numerous jobs that require human beings, be it for creative or consulting tasks, or issues requiring intuition and contemplation. In these cases, AI software can only be helpful by diagnosing circumstances and supporting human labor. Experts are in agreement that cognitive software will influence modern digitization in a similar way to how steam engines impacted industrialization. According to the IDC, more than half of all company software applications will be equipped with artificial intelligence in the course of 2018.
As far as intellectuality and cognition are concerned, so-called ‘knowledge workers’ play key roles in modern enterprises. For knowledge workers, contributing to a successful business by forming and implementing their concepts is often considered a lifelong task. As analysts have predicted an increasing skills shortage for years to come, companies are trying their best to counteract any adverse effects. The ‘war for talent’ entails new ways of finding and keeping the necessary talent for company plans.
We often associate big data with research problems that are important to humanity as a whole - problems like human evolution, energy sources and cancer. To process big data, we often think that one needs big iron like computer nodes, scale-out storage and parallel systems to compute the massive amounts of data.
There is no way to deal with data processing in daily business without coming across document and mobile capture. But when exactly is an investment in the proposed solution of smart data capture profitable – or even essential? And how do the applications wield influence over following processes once the initial handling has been completed? A compact overview with all the relevant information is provided in trade group Bitkom’s significant guidelines.
