Intelligent Technologies Affecting Business Development

At the moment, it is important to be aware of all possible updates in any area of activity that you are engaged in, because the success of this area directly depends on your knowledge about it. So today we are going to talk about smart technologies that will help you grow your business.

Let's start with what smart technologies are...

Intelligent technologies are information technologies that help a person to speed up the analysis of the political, economic, social and technical situation, as well as the synthesis of management decisions. In fact, this is a real solution that will contribute to the improvement of important business processes. With their help, such opportunities will be opened in working with clients: increasing profitability, reducing unproductive traffic, accelerating the development of new products, accelerating and better response to customer requests. As a result of digital transformation, customer-centric technology and real-time data will be at the center. Businesses, in addition to event-driven management, will use data-driven approaches that allow more units to be produced in a targeted, personalized, consumer-oriented manner.

Data collection and work with clients

Data is the foundation of all activities, which allows you to create digital copies of every business process, every type of product, on their basis it becomes possible to use analytics to manage all areas of production activity.

Business directly depends on customers and this applies not only to new created production facilities, but also to already experienced ones. The business receives primary information about customers through contact centers that process information on calls, messages, as well as through chatbots and other sources.

Contact Centers

They participate in the initial collection and entry of information into the client database, and after that, the company accepts data on the contact person for automation. Because the collected contact data is stored digitally, it can be analyzed and scored.

Chatbots

These are conversational programs that are used to create channels for the automatic interaction of organizations with customers; intelligent dialogue programs designed to conduct text or voice communication. Both text and voice (natural language understanding) BW are not intended to support conversations on arbitrary topics. To make the use of chatbots possible, they are pre-trained on a representative set of voice, text patterns that relate to the company's area of specialization - this is their main difficulty.

Digitized business

Working with clients allows you to collect completely versatile information and build analytical models: behavior, preferences, financial activity and other important elements. The combination of such models forms a digital copy of the client, which will allow, among other things, to predict his behavior as a participant in business processes.

An example of a forecast is a warning that a client in the past has violated the terms of project approval three times, therefore it is recommended to call him on the eve of the designated date and further clarify the timing of the event.

Digital transformation affects not only work with persons, but also directly affects all aspects of the business. Whole industries choose this path of development for themselves as the only opportunity to meet the rapidly changing conditions of the surrounding world. Thanks to this, the digital transformation of industry, retail, the public sector and other areas is already changing the life of every person and every company.

Clients' copies created from the existing database in conjunction with digital copies of processes, products and services will be used in the following processes:

• predictive analytics,
• development of production plans,
• assessment of development strategies,
• making management decisions.

Companies that are the first to digitize their business will gain significant competitive advantages.

Digital business tools

Digital transformation is based on the data that the business has. There is a lot of such data, they need consolidation and preprocessing. Digitalization will allow us to strengthen our position in business, improve relationships and interaction with customers, and create the foundation for confident progress towards the future.

Cloud storage

Cloud solutions allow you to store company data on remote secure servers. The advantages of this approach are: faster scalability, rapid deployment of new solutions, and a more convenient way to manage information. With their help, company employees can access information anytime and anywhere, which is also very convenient.

Collaboration and communication services

Businesses may need new solutions to communicate with employees, partners, suppliers and customers when you work remotely. Collaboration software helps solve the problem by providing the ability to store, edit, manage, and share documents.

Remote project management software

In a remote work environment, it is more difficult for your managers to control team members, but that doesn't mean you can break deadlines. Remote project management solutions help you get things done efficiently.

Cybersecurity solutions

Data leakage is a serious problem for any business, from which no one is immune, so the company's internal information must be protected, especially confidential data, this is very important!

During digital transformation, businesses should use multifactor authentication, use antivirus and password managers, and conduct cybersecurity seminars for employees.

Augmented intelligence

Augmented intelligence systems include automation tools that help increase the productivity of human mental work. They organize a kind of "agreement" between people and artificial intelligence, in which the former takes the leading role.

The use of artificial intelligence in this capacity helps to reduce the amount of routine work and, of course, the number of errors during its execution. And human participation, in turn, will reduce the risk associated with automated decision-making - due to the fact that a person can solve questions for which artificial intelligence has not yet been trained to answer. The human factor can affect the quality of work, but a machine that simply cannot be emotionally loaded or upset will do better.

Machine learning

Among the challenges that machine learning can solve are customer service personalization, dynamic pricing, disease diagnostics, countering abuse, embezzlement, and more. The principle of machine learning tools is to detect patterns in the data using mathematical models. Machine learning is becoming more widely used, fueled by the rapid growth of data in organizations and the rapid development of computing infrastructures.

Machine learning helps streamline processes and find new solutions to business challenges across a wide range of industries.

Artificial intelligence control system

According to experts, it is impossible to neglect the creation of the AI governance system at enterprises. This is necessary, among other things, to understand and control potential risks associated with regulation and the possibility of damage to reputation. As explained in Gartner, the AI management system is based on specially designed policies to prevent system errors ("bias") of AI, discrimination of users or user groups for one reason or another, and other possible negative consequences of using artificial intelligence.

When developing a control system for artificial intelligence, experts recommend leadership Analytics and IT directors focus on three areas: trust, transparency, and ethno-cultural diversity. It is important to ensure the ability to trust data sources and the results of artificial intelligence systems - one of the cornerstones of their successful implementation, and the development of transparency requirements for data sources and algorithms will reduce risks. Taking care of the principles of diversity in data and algorithms contributes to the ethics and accuracy of the results of the work of AI-based solutions.

Intelligent applications

For several years, the only way to introduce artificial intelligence was to develop such systems independently. However, today most organizations prefer not to develop such solutions or even purchase separate AI systems, but to receive their funds as part of corporate applications.

Initially, the most "intelligent" were analytics tools with built-in technologies of the bitten Internet. Recently, however, vendors of a wide variety of corporate applications, systems, HR management and office suites are building such tools into them and starting to create artificial intelligence platforms.

Revolutionizing business opportunity with augmented reality

An option that will definitely be appreciated by completely different segments of your audience, which will increase your sales. Working with augmented reality (AR), you can notice the constancy of updates and opportunities for the development of various business areas. AR technology is helping to solve their real-world problems by changing the approach to customer acquisition. This makes AR an important step in the digital transformation of the company. It is also creative and not yet so familiar to the consumer, so it will be interesting to try it out. Augmented reality can have a significant impact on a number of business areas, you just need to determine how it will benefit your business.

Conclusion

The use of intelligent technologies will allow you to accelerate the development of your business, which will allow you to increase your earnings and promote your business. As we said earlier, it is important to keep up with new technologies, but much more important is to understand how and why they work. We advise you to use the advice from this article, we wish you good luck and success in your business! 

About Author:

Leon Howard is a freelance writer who creates quality and original content. He is working for the company ICOholder. He believes that creativity and improvement are things, which distinguish a good writer.