6 Key Benefits of AI technology for Business

Robotic Automation (RA) is transforming the way businesses operate. Not only RA is bridging communication gaps, transaction information, and other operational processes, it is also facilitating decision making processes. MYND Solutions Neural Intelligence Platform is a top-grade software platform that brings together a wide range of AI functions, such as - NLP (natural language processing), cognitive, machine learning, augmentation of intelligence and finally, analytics. The combined benefits of these functions produce a powerful boost and aid enterprises in analyzing, comparing and acting on complex data. In this regard, advanced artificial intelligence and MYND go hand in hand. MYND's strong team and infrastructure can create neural intelligence platforms with three customised layers. These three layers can be created as per unique business needs, although the standard ones are- a platform for the engagement of scores of structured and unstructured data, an engine that can predict analytics, mass behaviour and sentiments, and lastly, a deep machine learning capability that can recognize logical behavioral patterns in human and sense, act and learn from circumstances or incidents over time. It has to be noted that the AI platforms mentioned above, can be easily accessed, managed and even have provisions for syncing multiple data sources.

MYND’s AI capabilities like the advanced neural link platform, help organisations manage large batches of data, enable continuous learning through automation, and leverage predictive, sentimental analysis. 6 key benefits of AI for small, large and middle scale businesses are - 

  1. Improvement in customer experience – AI improves response times in business processes related to customer management, customer interaction and marketing. Among in-house processes, AI decreases the time consumed by resolutions, reduces the number of escalations, and also correctly anticipates the "next likely question" in user-generated platforms.

  2. AI can empower autonomous processes- A business usually has a number of autonomous systems like – the account payroll system, data management system, self-driving vehicles, and mechanical processes – all of which can be achieved without human intervention. Meeting obligations involving speech recognition, multilingual translation, and data analysis across organisational branches located in different countries becomes simple and quick with the ability to understand and interpret human language. The ability of artificial intelligence technology to recognise and categorise images and videos, in addition to voice and text, enables organisations to carry out business operations more smoothly. 

  3. Predictive analysis - Artificial intelligence technology solutions offered by MIND can help enterprises identify patterns, based on which organizations can arrive at insights or decisions. A seamless coordination between the front office, back office, manufacturing units, sales and distribution network is becoming possible due to end-to-end digitally controlled solutions offered by AI.
  1. Personalization – Advanced AI technology can personalize experiences for enterprises that cater to individuals. For instance, enterprises can launch service- related BoTs for their customers. MYND’s NLP engine gathers information from emails, identifies the intent and interests of customers, and also responds to customer’s concerns with achievable solutions. MYND’s solutions can result in 35% to 60% savings for the organization. A few industries for which MYND has offered plug and play BoT services are- mutual funds, life insurance, health insurance, home finance, retail lending and personal loans.
  1. Recommend products or services for the market- For ecommerce platforms, AI technology can interpret consumer behaviour, requirements and investment patterns. The insights thus obtained can help businesses explore new product lines or new services.
  1. Gain competitive intelligence – AI technology can also help a business gain a competitive advantage by collecting, analyzing and predicting competitions, industries, the business environment, as well as existing and probable customers. AI also tracks people, products, and promotions of existing competition to help a business stay ahead.

Comments

Post a Comment

Popular posts from this blog

Efficiency in Motion: Harnessing the Potential of Logistics Management Software

Image
The logistics and supply chain industry has undergone a radical transformation as technology continues to disrupt and reshape the way goods are moved and managed. With the integration of technology, the industry has become faster, more refined, and more complex than ever before. Efficiency and speed are now critical factors in the logistics and supply chain processes, and companies are turning to new solutions to meet the demands of this ever-evolving landscape. One such solution that has emerged as a game-changer in the industry is logistics management software. This powerful tool allows organisations to gain visibility across their entire supply chain, from point of origin to point of consumption. With logistics management system software , companies can effectively manage the flow of goods, ensuring that the correct products reach the correct customers within the specified time period. Investing in logistics tracking software can bring significant improvements to your operations...
Read more

The Ultimate Guide to Outsourcing in a Shared Services Center

Image
Streamlining operations, lowering costs, and increasing efficiency are common goals of businesses that use the emerging strategy of outsourcing. The shared service center benefits greatly from this technique because it enables organizations to utilize outside specialists and materials in dealing with peripheral activities. Shared services center s ( SSCs) are centralized business units that manage IT, accounting, finance, and human resources for several business units. This blog was created to give more insight into these SSCs. Since the turn of the twenty-first century, companies have shifted their focus more toward cost optimization while maintaining effectiveness and efficiency. This is obviously due to globalization and the emergence of new technology. Due to this, shared service models have evolved over time, moving from being centers for cost reduction through operational excellence to being multifunctional value generators through process innovation. Accounting and finance sha...
Read more

The Impact of Technology on Global Payroll Companies in 2024

Image
  The Impact of Technology on Global Payroll Companies in 2024 Today, due to the changing digital platforms and software, the way in which payroll companies conduct their business has been greatly altered in various dimensions including: the processing efficiencies, general performance, and even the very nature of work itself. Global payroll organizations worldwide have experienced increasing demand due to increased efficiency and capability. This is since 2024 marks a huge change in the global payroll sector brought about by fast technological progress. Below are the major impacts:   Rise of Cloud-Based Solutions: Traditional on-premise payroll systems are making way for cloud-based solutions which are more accessible, scalable and cost effective for global payroll outsourcing companies .    Enhanced Efficiency with Automation: Unproductive time is spent on the activity that has no significant impact on the outcome.Meanwhile, robotic process automation has help...
Read more