An AI-led Business: How Brands Can Pursue Growth in a Post COVID-19 World.
“The only way you survive is you continuously transform into something else. It’s this idea of continuous transformation that makes you an innovation company,” the recent COVID-19 pandemic has us come back to this thought and reimagine our routine lives from education to businesses to socializing to entertainment. Technology and innovation have become a necessary tool to survive, transform, and thrive in a post-COVID-19 landscape. One of the prodigies of change being Artificial Intelligence has the potential to take innovation to greater heights with an accelerating growth at a CAGR of 35% in the years to come. A.I. is dramatically reshaping and redefining not only the market and what companies can or cannot do with customer experience, but who we are as individuals and groups, A.I. is transforming businesses, and big data is the fuel. From making communication and information flow cheap and seamless when at the same time, the trials of distancing have our emotions on a rollercoaster ride to increasing resilience and scrutiny for businesses in times of crisis, shrinking the physical distance in safer terms with much to give in return.
Brands now need to evolve with A.I. and need to take a broader perspective and give up the trivial approaches to come closer to their customers and catch them in stride. There are several ways you can use A.I. to your advantage, which are listed below:
Know Your Customers
Brands are using A.I. to gather data to create customer personas to segregate potential buyers and leads. This practice not only helps to understand the customer needs better but also keep track of them and adopt dynamic pricing and content strategies.
A.I. possesses the ability to analyse large chunks of data to predict future trends by engaging in customer conversations and forums, helping businesses go dynamic and contour its strategy as per the market trends
Personalized and Hyperlocal Assistance through Chatbots
Be it a complaint or an inquiry, be it in English or the customer’s native language, with the help of chatbots an A.I. program, by simulating natural conversations, customers get their answers timely and expertly, saving a business, time, money, and a potential loss of a customer.
Well, we all are familiar with the Marvel movie Iron Man and J.A.R.V.I.S., well we are still years away from that technology. Yet, again, we also are well aware of Siri, Alexa, and Google Assistant, and they make our lives easier. With the growth of the home automation industry, they are becoming more popular. From speech recognition to automating your tasks to giving you directions, voice assistants are actively used by companies so that customers can use their products with ease.
To sum it up, A.I. is a potent tool that will help you grow your company and boost your R.O.I. So, have you incorporated A.I. in your business yet? If not, then what’s stopping you?
Visit www.adohm.com to learn more about A.I. and incorporate itinto your business effectively.