As we all know, technology is playing its cards right in changing the present-day business scenario, with Artificial intelligence (AI) becoming the “not-so-hidden” ace here. From picking out valuable details from the mountain of big data to utilizing that information to empower the process through intelligent, machine-learning bots, AI is already bolstering sales efforts. And there’s so much that this maverick aid can do, through the following ways:
Algorithms that pay heed
The Internet has become a wizard of sorts which can predict your demands based on the requirements you have put. This is due to the adoption of Artificial Intelligence (AI). Deep learning algorithms have already started working their bit to forever uplift the world of automated ads, to that extent that they can now predict the online behaviour of an average user. Many start-ups in India are using some form of Artificial Intelligence that is focusing on providing solutions to industries, e-commerce sector, healthcare, education, as well as retail and logistics.
Bots and platforms that serve
While bots are usually programmed to find the quickest, most effective ways to achieve a goal, machine-learning bots go beyond the usual. They are optimizing their process by gathering data and information from the customers. Now, Artificial Intelligence controlled bots can easily reach millions of customers, find the apt leads, write follow-up emails as well as automate the entire sales sequence more effectively. By minimizing their marketing expenses with these smart solutions, even small and medium-sized businesses (SMBs) can now compete with the big players, who are already ruling the market, and their enormous budgets. This will help in reducing workload by up to 90 percent in order to save resources as well as time.
Championing the cause of Customer Experience
User engagement and customer experience are very important and are keys to ace this stage. Existing clients are owing to the customer’s loyalty and referrals. However, organizations often fail to empathize with the customers’ pain points. Artificial Intelligence, on the other hand, saves endless hours of time and resources by analyzing all the data points of a selling process in order to identify the weak spots. It also creates a comprehensive and more efficient prescriptive sales approach. A well-established process will bolster sellers’ confidence and also increases their chances of closing a deal.
The retail story
Of all the sectors involved, the widespread use of Artificial Intelligence in retail is creating most buzz. Streamlining the retail processes and allowing online experiences to resemble human interactions is helping the digital retail to make a rapid progress. AI is now capable of analyzing, respond to and even predict customers’ questions and even behaviours, with a great potential for streamlining the way consumers discover and interact with products.
However, a lot more is needed in terms of judicious incorporation to strengthen the strategies. Moreover, human intuition, at the end of the day, is driving the energy towards the storm. We no longer live in the world where self-managing scripted systems are going to be a substitute of human intelligence. The process to support the fertility of mind is moving towards a positive direction. In India, Artificial Intelligence is still emerging especially in the retail industry. As the retail sector will grow and adopt new technologies, providing all the relevant information to the customers will also become important. With the help of AI technology, the shopping experience will become more personalized for everyone. It is expected that 50 percent of the retail companies will adapt to cloud-based services in the coming years that will look after their Big Data and analytics, ensuring a smooth process, reduce costs and increase flexibility.
The author is CEO, Field Assist