Today, artificial intelligence can do things that we didn’t even expect. Today we often face the news that the article was written by a neural network, and not by a person. Every year, the power of artificial intelligence is growing: from creating a speaker’s appearance by voice, managing ads, to assessing credit risks.
If earlier artificial intelligence beat the strongest chess players in the world, today it helps business. Today we’ll unveil how to use it to boost sales.
#1. Custom predictions
Artificial intelligence learns from experience and is a great predictive tool. Let’s take for example the experience of many platforms offering different services and products. Some of them need to work every day not only with the price but also with the volume of goods and competent planning. Amazon has been using artificial intelligence for a very long time, and AI recommendations have effectively increased sales. Spotify, Facebook, Google, Netflix – all these giants are using artificial intelligence.
The better you can predict your next strategic move, the more profit you will get in the market.
#2. Sales department analysis
AI-powered voice recognition helps businesses. With its help, the director, the head of the department, and the marketer get analytics of a new level. Because not only the effectiveness of advertising is analyzed, but also the sales department.
Thanks to the definition of the manager’s voice, it is possible to view and evaluate incoming calls in the context of a specific manager; check how the sales scripts work and correct if necessary; evaluate the quality of a manager’s or an operator’s work: the intonation of a conversation with a client, negotiation tactics, and much more.
Together, this increases the level of customer service, and with them the volume of sales.
#3. Elimination of defects in production
World production makes progress due to AI anomaly detection. Neural networks in real-time analyze equipment data, notify users when anomalies appear in the technological process, indicate the possible cause of the anomaly, and give recommendations on further actions.
The system can detect wear and tear on the cutting tool, operator error, equipment malfunction, and the risk of rejects during processing. A quality product means increased sales.
#4. Targeted ad campaigns
What promotion channels are most beneficial for a given product in a particular context? How long will the advertising campaign last? At what point is it better to launch it? Promotion of any product or service begins with these questions. Traditionally, such global solutions are calculated manually by marketing specialists, but the use of AI helps to optimize this process too. For example, some services help to find and attract potential buyers based on the characteristics of those who already use the brand.
AI tools are also effective in media planning – calculating how many orders each selected promotion channel will bring you. The service collects statistics on advertising sources and their costs. As a result, the machine makes a forecast, tests models, and draws up a cost plan.
The more accurate the advertisement is, the more sales you’ll have.
Wrapping up
Technology is developing very rapidly. And if it seems to you that recently people were surprised by Siri, then just imagine – it first appeared ten years ago! The process has started, and let’s be frank – artificial intelligence and automation are better at many tasks than humans.
We trust AI ourselves, why not entrust the business?