Business owners are always on the lookout for new ways to improve efficiency, save money, and increase profits. More and more online businesses are looking to technology to achieve these goals. The latest of these innovations is the refinement and adoption of artificial intelligence systems. While artificial intelligence may not look as breath-taking as the cybernetic human of science-fiction, the implications of this technology are just as exciting.
To fully understand its role in online business, we must first explain artificial intelligence’s basic framework.
- What is Artificial Intelligence?
First conceived in the 1950s by Dartmouth College’s John McCarthy, the definition of artificial intelligence is any machine that is designed to complete tasks that are typically associated with human intelligence.
A group of technologies has arisen from this concept, including computer networks that strive to function similarly to the human brain (neural networks). These machine learning algorithms allow computers to learn and deep learning software. This utilizes more complex layers of data to recognize patterns and trends in a comprehensive manner similar to human cognition.
Now that we understand the basics, Adapt Solution can explain artificial intelligence and its role in online business.
- Examples of Artificial Intelligence in Online Business
Some people may find it hard to explain artificial intelligence; however, one only has to look to systems like Siri and Google Now to see how AI has already made its way into millions of homes around the world. Along with the AI systems required to understand users’ voices, Siri also uses advanced machine learning algorithms to function.
- Recommendations and Predictions
Another way that artificial intelligence can be utilized in online business is through the use of machine learning algorithms in the analysis of customer purchase data. By using the massive data sets produced from online purchases, artificial intelligence systems can create a more personalized shopping experience. They do this by predicting potential future purchases as well as provide recommendations for products a customer may be interested in based on their past purchases.
Social media has become an essential element of all businesses—especially in digital industries—which may explain artificial intelligence’s growing role in this aspect of modern business.
One way that AI continues to be used is through the development of chatbots. A chatbot is a software program that uses AI to analyze text and audio inputs to have conversations with human beings. These tools are perfect for communication services like customer support, and developers are continually working on expanding the use cases for AI programs.
Leaders in digital industries like Lyft, Facebook, and Amazon all use chatbots to improve customer service and create a more user-friendly experience. As we continue to explain artificial intelligence, the massive extent of its potential becomes apparent.
Adapt Solution are experts in all areas of artificial intelligence software. To find out more about our company, and how we can help your business, please click here. Alternatively, to know more about the services we offer, please visit our Services page by clicking here.