Different Uses of AI and ML in Businesses
AI and ML are spreading among businesses like a wildfire. And their advantages prove that they are worthy of the hype. From enhanced personalization to predictive analytics, there are plenty of ways these technologies are benefitting modern businesses. Some of these benefits of AI and ML for businesses are discussed in this blog.
Different Uses of Artificial Intelligence (AI) and Machine Learning (ML) in Businesses
Artificial Intelligence and machine learning are technologies that have taken over different segments of the global economy. From automating the learning process to enhancing cybersecurity, IT and non-IT businesses have found ways of using AI and ML to their advantage. Now, for the context, it is crucial to understand that AI is a wider term while ML, is a part of AI.
As the name suggests, Artificial Intelligence is an artificial network that is designed to copy the functionalities of a human brain to perform more complex tasks. To empower IT, big data and machine learning are two different technologies that work together.
Big data is a term referring to define the huge amount of data that needs to be collected in order for AI to work. Machine learning, however, uses big data to find and learn patterns. The technology provides possible outcomes by observing the big data it is fed with. Businesses from sectors such as aviation or entertainment are already using ML applications.
Furthermore, in this blog, we are discussing a few uses of AI and ML for businesses currently. So, if you want some insight into the usefulness of these technologies, stay with us until the end of this blog.
- Targeted marketing
To grow a business at the level of the competition existing today, it is crucial to plan marketing strategies right. AI and ML techniques can help you out with that. With the help of historical data, ML can help you out in predicting the outcome of a marketing campaign. Moreover, it can also use big data generated from the user behavior to show them the right ads.
Marketing partners such as Google are using these techniques to display the right ads to potential customers. AI, on the other hand, can observe and automate the entire marketing process. It can prepare data such as the success of last campaigns, or plan campaigns for the future. AI is the tool that decides which ad should be displayed to whom and these intelligent algorithms are fueled by a large chunk of data generated by users 24×7.
- Enhanced cybersecurity
Cyberthreats do not stop evolving. Hackers, with time, learn to use new technologies and algorithms to target vulnerable businesses. And, many businesses are not well equipped to fight these evolved threats as security algorithms against them are not mainstream or affordable yet. That is the problem that AI and ML collectively solve. ML observes cyberattacks from the past and present to recognize and predict them. AI, however, uses data to frame strategies to recognize and automate the protection against possible cyberattacks. From monitoring connected devices to keeping an eye out for any possible hardware failures, AI is capable of automating entire cybersecurity processes.
- Smarter recruitment
Recruitment is a process that usually causes an overburden of work and stress without the involvement of intelligent systems. However, AI-supported intelligent systems are capable of filtering resumes on the basis of keywords or screening processes to filter the right candidates.
AI recruitment systems are also capable of sending automated replies to selected and rejected candidates to ensure that candidates have a response based on their applications. Moreover, these systems can also schedule interviews depending on the requirements like the number of recruitments, the average duration of interviews, etc.
- Enhanced SEO
Search engines such as Google are using AI and ML algorithms to detect and rank articles based on their qualities and relevancy. Spiders that crawl blogs are much smarter today compared to 5 years back. Thus, only stuffing keywords is not the key to ranking at the top today.
Now, these intelligent ranking algorithms go through each and every blog to detect their quality estimation, readability scores, scalability of web pages, mobile-friendliness, possible user experience, and more to rank them into search results. These algorithms are giving even new bloggers fair competition as if they have the potential, they can grow by publishing blogs with the right strategies.
- Sales and demand predictions
Machine learning and AI systems are now able to use predictive analytics to plan and predict approximate sales and demand data. With the help of historical data, upcoming events, and other influencing factors, these systems are helping large businesses in planning better marketing and sales strategies.
- Industry-specific services
AI and ML have their own types of usages depending on the nature of the business. For example, businesses that deal in investments can use these technologies to predict possible situations of various stocks. On the other hand, healthcare companies can use these tools to serve users with smart healthcare monitoring tools. In short, AI and ML are capable of helping businesses in optimizing their services in the best possible way with a tentative insight into the possible outcomes. To keep up with the level of competition that exists today, it is a great idea to have some insight into possible results.
Well, these were a few crucial use cases of AI and ML in businesses that we thought of shortlisting in this blog for business readers. Even though these are crucial use cases, there are plenty of other innovative ways of using AI and ML that exist already.
In the end, we hope you found this blog useful. We will return with more informative blogs in the near future but meanwhile, do not forget to explore Meet RV to read other well-researched articles.