Impact of Artificial Intelligence on Business Analytics
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Impact of Artificial Intelligence on Business Analytics

Artificial Intelligence has been at the forefront of the technologies like deep learning, human-robot interaction, self-driving vehicles, and humanoid technology. As artificial intelligence finds its mention in the Gartner report for Emerging Technologies, it is unwise to underestimate the scope of such technologies for business analytics. That said, AI would influence diverse sectors in general and business analytics and business intelligence system in particular.

Today, the amount and complexity of business data are increasing by leaps and bounds. This calls for the adoption of artificial intelligence-powered analytical systems to derive insights from existing unstructured data sets. Furthermore, together with machine learning and deep learning, artificial intelligence is paving the way for the automation of business processes. This is helping to take business activity to a different level which is most advanced. In this article, we analyze the influence of artificial intelligence on the business world and estimate the extent to which AI-powered technologies would influence business corporations in the future.

Importance of AI to the business world

The prime use of artificial intelligence for businesses is compiling business processes, problem-solving, and decision-making. In modern times, companies are so dependent on artificial intelligence that most tasks are solely based upon machine learning and deep learning systems. Examples of the dependence of business technologies on AI can be gauged from classifying data sets, image processing, and product recommendations.

As of now, there is no shortage of applications and domains where artificial intelligence finds its use. The best courses for business analytics inherently deal with AI products. For example, AI is used for pattern recognition for industries dealing with visuals and graphics. Similarly, it is used for voice recognition in many industries. Artificial intelligence uses customer recommendation, customer insights, customer personalization, and predictive analytics in the commerce sector. For example, AI is used for enterprises with an extensive customer digital database for targeted advertising. Artificial intelligence has been at the core of developing advanced chatbots and virtual assistants in the telecommunication sector.

Reaping the benefits of AI

Artificial Intelligence can improve business processes via Email marketing, mass messaging, and online advertisements. It can also be leveraged to provide a deeply immersive and personalized experience to customers with the help of data-driven insights. Artificial Intelligence can help in understanding customer behavior and purchasing patterns. The above information can be used as a feedback system to improve the performance of various recommendation systems. Artificial intelligence is critical to improving operational efficiency and adopting logistics management automation. AI has also helped develop such mobile apps that carry out real-time analytics while simultaneously communicating with many customers. Finally, when it comes to measuring the performance of businesses, AI does this with a quantitative framework and performance dashboards.

The significant impact of AI

The impact of AI has been most noticeable and visible in three critical sectors. These include manufacturing, sales and marketing, and customer service. More than 5 million jobs have been lost in the manufacturing industry due to the automation of various processes. However, the fact that cannot be ignored is that more than 9 million jobs have also been created by artificial intelligence to compensate for the same. The combination of artificial intelligence and iot technology has served several purposes like boosting productivity, cost reduction, and improved efficiency. The impact of artificial intelligence has been profound in sales and marketing as this domain has utilized the power of machine computing and machine intelligence to drive online sales and achieve customer satisfaction. The third sector is customer service, where significant advances have been made with the help of artificial intelligence chatbots. For instance, Royal Dutch Airlines is currently running more than 30,000 chatbots to enable flight notifications and other traveler services through its automated apps.

Concluding remarks

This article highlights the increasing impact and growing adoption of artificial intelligence in various business domains. Artificial intelligence would incorporate under its umbrella the fields of business analytics and business intelligence shortly. Furthermore, with the inputs from artificial intelligence, we would also witness the broadening of sectors like e-commerce and telecommunication. As such, cloud business analytics and business visualization would become the next big thing in the times to come. All this growth would be fuelled by the progress in artificial intelligence and related technologies.

Impact of Artificial Intelligence on Business Analytics

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