MAY 20218HLeveraging The On-Premises AI Technology `Hi-Touch' To `Hi-Tech'umans can't read minds. Yet, we expect businesses to know and cater to our needs and expectations almost instantly. This is where Artificial Intelligence and Machine Learning technologies are helping industries to bring a paradigm change by predicting what we want. Although it seems magical, AI and ML technology is based on data. It is now being used in businesses to understand customer behavior, predict needs, and deliver personalized recommendations alongside other use cases. Integrating this technology into digital businesses is catching on fast and for a good reason.Discovery & PersonalizationAI gives businesses the power to accurately predict relevant products and content for a specific target audience. Businesses around the globe are using AI to identify critical datasets that otherwise get overlooked. This helps a business increase its chance of discovery. Business marketers can use their audience's data to optimize and automate the overall customer experience. By analyzing mountains of data like personal interests, location, income, time of day, preferred sites, and so forth, businesses are poised to create meaningful interactions with customers. For instance, instead of targeting a wider group of individuals between 30 or 40 years old, searching for a specific target audience like "running enthusiasts" can narrow down the target audience to an extremely specific subset. A recent study also indicates that around 80 percent of customers prefer brands that offer them a personalized experience. It makes them feel like the brand or business is considerate of their concerns and needs. As a result, it increases customer retention and loyalty. Businesses that use AI-based intelligent search engines to leverage customer data ultimately create a customized experience that translates into improved SERP rankings. Breaks language barriersThe business world is currently witnessing an AI revolution by turning chatbots into conversational tools. They understand customer queries and offer human-like help more accurately. Speaking of `understanding', these AI-powered chatbots can communicate with customers in almost any language. Even those proficient in English tend to feel at ease when information is available in their native language. Hence, customers are likely to spend more time on the website where they can browse in their preferred language. Therefore, businesses are going an extra mile to reach audiences in a way that crosses linguistic boundaries. It needs more than FAQs to be available in various languages. Offering an all-around, multilingual customer experience is a must. Given that it's practically impossible, not to mention expensive, to employ an army of customer service representatives who can communicate in various languages, multilingual chatbots are the only way to go.Image-based searchSay you spot an unknown product in a picture that catches your eye. It is a stylish pair of shoes that will perfectly match your attire. Now, you wish to get it but have no idea where to buy it from or which brand to look for. Even if you go online and search for it at that point, it could lead to a long process that might be unyielding. IN MY OPINIONBy Aniruddha Khopade, CEO, GalakticAniruddha is an experinced professional having worked for 15 years focused on Product Development in Financial & Online Retail domain
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