Guy Galboiz Gives Insights on How Artificial Intelligence Will Change Business
Artificial intelligence is a huge development that has come to transform businesses. Here are Guy Galboiz insights on how it will change business.
Introduction
We are living in the digital era where industries and business are getting transformed. Artificial intelligence or AI is one of the digital developments that have and will continue to transform industries as well as businesses. Artificial intelligence in simple word is the ‘training’ of machines so that they can ‘think’ and ‘respond’ like human beings. In other words, it’s the simulation of human intelligence by devices or machines. Advanced machines are now developed and enhanced with AI to perform tasks that are normally done by people. Read on to learn Guy Galboiz insights on how AI will change businesses and industries.
Process automation
Technological advancement has led to the innovation of machines and devices that perform various tasks with little or no help from humans. With the development of smart robots that work alongside humans, businesses will become more efficient. Today, there are many advanced machines that are being used in the manufacturing, transportation and other industries. The machines or intelligent robots are doing a lot of work that you can’t even compare with human labor. The automated machines will work 24 hours in day and will not require any break. Process automation will improve efficiency and productivity, and reduce chances of errors.
It will streamline customer services
Virtual assistance is an application of artificial intelligence where companies deploy chatbots to respond to their customers’ questions instantly. Some simple and direct questions can be answered by chatbots and virtual assistance, and customers will be happy to get answers immediately. One example is iFLYTEK, China’s leading artificial intelligence platform that specialises in voice recognition software and voice-based internet/mobile products covering education, communication and many more industries. Business that will invest in customer service enhanced with AI will no longer lose customers easily as they will have standby bots to respond and address to their queries.
Reduce costs of business
Automation can help reduce repetitive or even mundane tasks done mostly by humans. By automating most business operations and processes, businesses will be able to cut costs on labor. Also, automation improves efficiency and that is likely to reduce loss mainly caused by human error. Besides, you can cut cost by reducing the number of employees in your customer support team by installing an AI enhanced customer service. The only problem is the AI enhanced machines are costly
Help in market analysis and getting customer insights
AI can play a significant role when it comes to market and customer analysis. Through AI intelligence programs, you can get more information about the market as well as your customers by analyzing system matrix, web matrix, and other data. This information will help you create higher quality products and even improve your customer service.What’s more, AI enhanced systems or software will optimize marketing strategies and help you come up with personalized marketing strategies for optimal results.
About Guy Galboiz
Guy Galboiz is one of the most influential technology entrepreneurs who understand Artificial Intelligence, IT, among other modern-day business related things. He currently works at the Galboiz Marketing Agency and has previously worked at Forex Place (FXTG) and YouTrade Capital Markets. He is a great investor in the Fintech field and is the founder of Protonix and B-Capital, just to mention a few. Guy is an entrepreneur and investor who researches a lot and is happy to share his knowledge with the public.
Final Words
Artificial intelligence, the internet and other technological advancements have come to streamline business processes. AI has and will have significant impact in how we do business. Currently, many businesses have automated various processes and that has significantly improved efficiency and productivity. In the future, many AI-based systems will be developed and they will help in improving customer service, market analysis, and reducing cost of running a business.
