Artificial Intelligence can increase business productivity by a good 40%. With this technology, business processes will grow to be more efficient and effective.
At the moment, 47% of the established businesses have AI strategy defined for the mobile apps. A lot of other businesses are considering AI, and trying to find ways in which the technology will help them grab the market.
When it comes to the users, they are ready to accept and utilize the technology. In fact, a lot of users believe they are already consuming this technology.According to Accenture, AI heralds dramatic growth potential for both the business economy and people. The idea is to ensure machine intelligence is able to coexist with
human intelligence and boost growth for businesses and people.Today, AI is not just a technology essential for mobile apps, but acts as a catalyst that makes the app intelligent and human enough for the users. Its influence is exceptional in the mobile app domain, and you simply cannot ignore the way it personalizes the app
journey for the users, and helps automate the user’s journey.
While AI alone is enough, and has created enough influences, it is incredible to see how AI is collaborating with other technologies to offer smooth and seamless app solutions.
Here, we will take you through the impact AI has on mobile apps, and how it has helped improve customer engagement.
1 The Virtual Assistants
Chatbots, and other types of assistive methods have been devised by incorporating Artificial Intelligence in your mobile apps.
Let’s take the example of customer service, which is an essential aspect for all businesses concerned. You will need to excel in this aspect, if you want to earn more conversions.
When a person visits your store, there is a salesperson standing at the shop entrance, waiting to greet you, know what you want, and help you out.
However, mobile app development seems to lack this kind of support. That’s where chatbots come into picture. Not only do they help the apps with assisting the customer when they visit your site, but also ensure that the customer is fully satisfied and has received the support.
Artificial Intelligence has taken over so many aspects of human intelligence that you will feel you are talking to a real person, even when it is the bot speaking to you.
The virtual assistants can improve conversations and help brands stay connected with their customers, and help them in real needs.
In fact, bots can resolve issues in real-time, thus furthering the overall help extended to the people, and increasing their brand visibility and image.
2 Improves the Machine’s Reasoning Abilities
For a while now, computer based reasoning has been at a nascent stage. You will find that machines do try and apply logic to get an answer. However, it does not seem that the machines are quite capable of handling high levels of reasoning, and take care of few jobs that humans are handling.
With AI, machines can reach the next level of reasoning, which can enable them to understand and behave more like humans, and accurately find definitive answers.
Let’s take stock broking for instance. If you are a broker, you would know that there is a certain algorithm that you apply at the back of your mind to perform the analysis, which eventually helps you trade right.
The machines are not able to handle that level of reasoning as of now. However, with Artificial Intelligence capabilities instilled into the machine, you will be able to get that kind of reasoning, which enables machines to broker or trade in stocks. The algorithm will help them solve logical questions, and will enable them to accurately trade in stocks. The chances of error will reduce as a result.
The idea is to develop a pattern that can be converted into a good algorithm. With this pattern-based logical algorithm, and using past instances, the mobile apps can help with trading and other aspects related to stock broking.
3 Purchase Prediction for Better Inventory Management
Artificial Intelligence studies and analyses a lot of data, which enables them to take the right decisions. For businesses, the demand-supply ratio is an important aspect, which allows them to manage the inventory perfectly. However, with respect to demand and supply, a lot of companies seem to be failing to understand what products are in demand, and when.
Artificial Intelligence studies the past data, and the customers’ preferences as well as factors affecting the purchases (available from past data) combined with the current social, economic and political factors to determine the demand.
Let’s say you are a fashion retailer, and you want to know which product is in demand at the moment. You will consider the fashion trends, the season, the kind of colours that are popular etc. before stocking up the fashion at your store.
With this data and analysis, you can predict the purchases, and know the profits you will be getting this year. It makes buying and selling easy and effective for the retailers.
4 Personalized Recommendations for Better Experience
Customers may not have all the products on their wish list. They may not even know of certain products. However, when you personalize the page for these customers, they will not only know of products beyond your wish list, but will also purchase these products.
Personalization is the key to improving experiences. With Artificial intelligence, the machines will consider numerous factors that include customer’s demographics, their purchase history, their choices, their preferences etc. it helps make recommendations easier for them.
Amazon and Netflix have been working their way into the customer’s hearts and retaining them with the help of personalization and recommendations that are impressive to the customers.
5 Enhancing Security of the Mobile Apps
Artificial Intelligence has tremendously increased the security and authentication for mobile apps. Face unlock feature uses the AI based face recognition technology, which allows you to add faces to the algorithm. Whenever the face matches, the algorithm will set to work, and allow you to unlock the phone. This kind of security ensures that your phone is not unlocked by anyone else.
Similarly, authentication process has been defined using AI, which allows for strong cyber security, thus making it difficult for you to hack into the system. AI frameworks will enhance the authentication processes, and will add a few layers to the biometric systems as well.
Artificial Intelligence is definitely lining up systems for advanced security and real-time analysis that can help the businesses take decisions in real-time. Intelligent app solutions that cater to the changing user preferences are being designed to improve the usage and usability of the app. Artificial Intelligence with IoT and Blockchain will reinvent your business strategy, and make it more user-centric.
It is time to think of AI enabled business apps. How do you aim to incorporate the intelligent technology to your app solution?