Gartner’s CIO Survey states that the implementation of artificial intelligence increased by 270% in the last 4 years. This is a staggering number but unsurprising. AI is the future of technology and the digital world. However, AI application development services also serve as catalysts in digital transformation.
AI is one of three steps in digital transformation, just before enterprise apps and robotic process automation. The role of AI in digital transformation is dramatically increasing as companies move towards being data-driven enterprises rather than product-focused businesses.
Digital transformation is important if companies want to stay relevant – and Artificial Intelligence (AI) and Machine Learning (AI) are leading the industry. While unsupervised learning is still in its infancy, supervised AI and ML in digital transformation enables companies to leverage data dn reap the benefits of hyper-personalization for customers.
How AI can help in Digital Transformation?
AI helps companies to process massive volumes of data and make sense of patterns that emerge. The AI-driven transformation uses Machine Learning algorithms for processing data and returning valuable results.
Infosys, the Indian IT MNC, conducted a Human Amplification survey. It estimated that 98% of respondents that utilized AI-based systems for digital transformation found additional revenue growth.
How did this happen? First of all, companies are able to predict future behaviour and make decisions that can help achieve profitable outcomes. Secondly, personalization also leads to a better user experience – increasing revenue generation opportunities and keeping customers with the business.
[ Also Read: How COVID-19 has increased the Value of Digital Transformation ]
What is AI in Digital Transformation?
From self-service chatbots to natural language processing tools for better customer support, AI has vast uses in digital transformation. When companies are looking to become more data-centric and achieve efficiencies, customer satisfaction, and profitability, then AI transformation leads the way.
The applications of AI in real world enterprises include the following:-
- Understanding customer behavior
Artificial Intelligence digital transformation is mostly useful for understanding customer behaviour. With the help of historical data and purchase behaviour, companies can predict what the customer’s actually want and ensure they can deliver it. - Hyper-personalization
The role of AI in digital transformation is useful to provide personalized services. Companies use recommendation engines to showcase products by understanding the user history. It tells about the preferences and likes of the customer to deliver more personalized results. - Better decision making
Companies need data to make decisions in today’s world. Machine Learning solutions enable them to process such data, generate valuable insights and make decisions that deliver the best possible results. AI services help to identify hidden patterns in the data, which are a valuable part of making decisions that enrich the entire digital transformation initiative.
Apart from this, AI solutions are effective in fraud detection by analyzing suspicious behaviour, customer service chatbots using NLP, and much more. The use cases proliferate as companies move towards becoming a data-driven enterprise.
How AI solutions lead to Digital Transformation
Not every process requires automation and intelligent integration. Enterprises must identify specific processes that can benefit heavily from Machine Learning and data analytics. They can achieve efficiency when Artificial Intelligence (AI) is implemented in places where it will improve and deliver some tangible results.
Three of the most significant ways artificial intelligence systems can be used to transform an enterprise digitally include:-
- Customer Service Enhancement
- Studies have shown that 60% of the customers would stop interacting with a company if they have poor customer service. It is one of the most crucial elements of success for any company. In 2020, people don’t want to wait in lines and wait for hours on the telephone.
- Thus, artificial intelligence marketing solutions come into the picture. With the help of AI-based chatbots, organizations can now quickly interact with customers, gather data, and keep them engaged.
- They respond much faster than manual executives who have to provide mental effort to each and every customer separately. AI chatbots have algorithms that don’t get tired and can answer hundreds of customer queries at once.
- Economies of Scale
- Processes that were earlier based on human intervention can now be automated using artificial intelligence services. It will result in achieving economies of scale as AI can find the patterns and accomplish that task within a shorter period of time.
- It means more work for less cost and even a lesser amount of time. Artificial intelligence solutions can easily process analysis that earlier took hours or even days. They have algorithms that can find patterns and complete repetitive tasks.
- Secure IT Network
- Today, technology stands as the backbone of a majority of the organizations. Securing the IT systems is, therefore, a prerequisite to achieving digital transformation. Deploying the best artificial intelligence software from a reputed vendor can ensure maximum security for your IT network.
- AI has the capability to detect and prevent unwanted authorizations, intrusions, and hacking. Since digital transformation solely depends on technology, AI can protect the network through advanced machine learning and deep learning.
Further Reading: Artificial Intelligence Services are the Future of your Business and Here’s Why
The applications of AI in real world enterprises are available in multiple departments and areas. Companies can find uses in the Finance & Accounting, Operations, HR, and even Factor Floor Support.
AI isn’t a threat anymore – it is a complementary technology that frees up human resources and employs them on creative tasks. Companies now have the capabilities to responsibly utilize AI solutions to identify patterns and generate insights for making better decisions.
Grow your Organization Digitally with Artificial Intelligence Solutions
AI digital transformation is not simple. It requires experts who know what they are doing. Building a data-based organization involves understanding of tools, technologies, implementation practices, procedures, and whatnot. Therefore, it is essential to build a team of AI engineers who work together and build solutions that impact the entire system.
BoTree Technologies is a leading artificial intelligence services company that transforms organizations into digital enterprises.