Are you embracing the rise of business AI?
5 min read
11 August 2017
Many organisations are using artificial intelligence (AI) to crunch through huge data systems so that they can discover a new, more effective, business AI performance, discusses Webgains CEO Richard Dennys.
However, very few organisations across the world are leveraging business AI at the creation stage and applying cognitive learning from AI to create a new system or solution. We are one of the few organisations in the latter example.
But how can business AI benefit affiliate marketing? In one instance – virtual intelligent assistants (or chatbots) can mine the huge amount of available data to provide more informed decisions on a campaign.
This informed insight can unearth different segmentations or adaptations to a particular campaign that will produce better results and therefore more sales, which ultimately makes more impact on the bottom line.
Secondly, it can streamline administrative tasks and not only make the workload of employees lighter, but also faster for the customer. Organisations that can truly leverage the cognitive learning of business AI can create chatbots that become the heroes of administrative tasks.
In the affiliate marketing space, especially for networks which generate huge amounts of traffic, this kind of process automation is invaluable. Over time, chatbots can begin to learn and analyse customer intent and trends to enhance existing services and provide new ones.
Most importantly, over time AI can determine the context and need of a customer’s question and perform the action for them. Meaning that a chatbot is able to deal with a customer request directly.
Business AI improves customer service
With AI technology embedded into customer services, businesses can begin to combine speech recognition, language comprehension, customer intent analysis and other elements to create intelligent assistants – who can naturally communicate with customers and provide them with the information they need.
With all the elements properly applied and installed, chatbots can become a more powerful and enhanced version of the popular consumer options available to us already.
Chatbots powered by AI can readily assist customers with numerous different services, reducing the strain on a human team of operatives – allowing them to focus on more serious and complex customer issues. They can provide an “easy access point” to numerous different services, just by asking it for them – removing the need for customers to navigate the website.
Business AI improving operations
AI can enable businesses to scale their operations, improve productivity, reduce costs and focus on providing their customers with a better service. Tasks which generally require human intelligence can be delegated to machine to conduct.
However, this evolution is a big challenge and will not happen overnight. The goal for using business AI is not to replace employees, but rather to automate and speed up repetitive or low priority tasks and therefore enriching the interaction with humans.
Learning from real interactions to make better predictions
As AI learns from every interaction, it gradually gets better and better at conducting a process, answering a question or providing information. With AI-speech recognition, key words can be identified and customer intent determined.
Of course, this will take numerous iterations before the AI technology can consistently identify whether or not a customer “needs a supervisor” or “needs supervision”.
In addition, from the information gained from AI interactions with customers, businesses can identify the best channels for communicating with customers and how they should approach them. AI should not be confused with simple automation of basic queries.
The use of AI and application of cognitive learning using huge amount of data sets should eradicate the poor attempts so far that simply regurgitate stock answer based on a pre-approved script.
Business AI should not be seen as a technology that is going to reduce the need for human employees or as a threat to jobs, it should be seen as what it is – a skills enablement technology that will create more time, more jobs and more opportunity.
The use of business AI provides:
– Faster actions to meet consumer demand.
– Improved productivity and operational efficiency (removing the need for large customer-service centres to engage with customers).
– Greater capabilities – as business AI improves, it can perform larger tasks effectively, allowing employees to focus on other business critical areas.
Richard Dennys is the CEO of Webgains