AI and Machine Learning for Businesses

You’ve probably been hearing for the past several years how artificial intelligence and machine learning will be transforming business and making a huge impact on all our lives. You may not have bought into that, simply because you don’t see any signs of that happening in your daily routine. But the truth is, AI and machine learning have already become big influences on the lives of most people, without them even realizing it. For instance, each time you ask Alexa to give you the weather forecast for today, or to set a timer for your nap, you are interacting with artificial intelligence.

You may also have come across specific products based on artificial intelligence, such as HuskyLens, which is an AI camera that is capable of face recognition, object tracking, color recognition, and QR code recognition. There are literally tons of such products appearing in the marketplace now, and they’re all being made more useful and more effective because they have been engineered with the capability of machine learning.

Product Link: Gravity: Huskylens - An Easy-to-use AI Camera | Vision Sensor

How AI is used for digital marketing

Businesses are now beginning to make use of artificial intelligence in many of their new digital marketing campaigns. A great many specialist firms are incorporating AI in their search engine optimisation offerings because that can give you a leg up on the competition. Artificial intelligence, as it relates to digital marketing, leverages technology to provide a more rewarding experience for customers on their journey toward making a purchase.

AI is also prominently featured in efforts to boost the return on investment for new marketing campaigns. This can be accomplished by using machine learning, big data analytics, and a number of other processes that help you to gain insights into the behaviors of your target audience. Armed with these insights and learned intelligence, it then becomes possible to establish effective touchpoints with your customers. Whether your company is involved in customer support, email marketing, or a related area, artificial intelligence removes most of the guesswork associated with customer interactions.

Chatbot agents

Chatbots help to fill in the gap between technology and people, by permitting individuals to carry on conversations with machines capable of taking actions based on user requests. Modern chatbot applications have grown much more sophisticated than the first generation of them, which typically were obliged to follow scripted rules telling the bots what to do, based on specific keywords.

Since the development of natural language processing, another component of artificial intelligence, chatbots can now be much more interactive and considerably more productive. The newest generation of chatbots are better equipped to respond to users’ needs and are capable of conversing more like actual humans.

Digital assistants like Siri and Alexa are fundamentally based on machine learning algorithms, and this is the kind of technology that is becoming more common in customer service. These chatbots have now become some of the most widely used machine learning applications in the business world, and you can expect them to grow even more sophisticated as artificial intelligence matures.

Data and Internet searches

Artificial intelligence makes use of tremendous amounts of data so that patterns can be identified in people's search behaviors. This is necessary so as to provide users with the most relevant information possible regarding their search queries. As AI technology becomes more advanced and people increase their use of computer devices, users will be able to enjoy highly customized experiences.

That can be very important for small businesses, because it will be much easier to target the narrow segment of an audience which is most interested in purchasing your products. It will be possible for Internet searches to become much narrower and more sophisticated, as the paradigm shifts toward providing the right information to the appropriate user, and at the most optimal time.

Cybersecurity

When it comes to finding vulnerabilities in any computer system network, artificial intelligence has already become a valued support. AI systems are capable of recognizing cyberattacks and other threats by monitoring data. When AI software detects any kind of cyber threat, it can quickly backtrack through data to pinpoint the source and to help prevent any future attacks.

Having an extra set of eyes that is constantly watching can be a critical component of your overall cybersecurity profile. Given the fact that cyberattacks are increasing in both scale and complexity, it has become essential to have as many sets of eyes as possible on incoming data. Artificial intelligence has made this very possible and has already made a significant contribution to preventing cyberattacks.

Fraud detection

Because machine learning is so adept at recognizing and understanding patterns, it is also highly capable of detecting transactions that contradict those patterns. That makes it an ideal tool for detecting any kind of fraudulent activity. Banks and other lending institutions have already been using machine learning for quite a few years in an effort to prevent fraud.

Machine learning is ideal for understanding the typical behaviors of a customer, such as when and where that customer might use a credit card. It only takes a few milliseconds for machine learning to identify whether a specific transaction falls within the normal range, or whether it might be potentially fraudulent, falling outside the range of normal activity. This kind of fraud detection capability has been made extensive use of in gaming applications, travel applications, the retail sector, and in financial services.