The power of AI has been well publicised in the technology industry, and it has become a common buzzword when talking about the future of tech.
However, while everyone seems to be talking about AI, there are many businesses that are yet to actually implement this powerful technology effectively.
Microsoft has therefore developed an AI 360 whitepaper which outlines a complete overview of the benefits, functionalities and capabilities of AI in the business context.
Functionalities of AI
Microsoft states that there are five key functionalities of AI within the business context.
An understanding of these five functionalities can help businesses to identify key push factors and unlock the potential of AI in the workplace.
The most AI-advanced companies utilise a combination of these functionalities to drive their business forward effectively and improve efficiencies in their systems.
These 5 functionalities are outlined below.
AI technologies allow businesses to utilise a variety of features such as suggestion engines and decision recommendation systems.
This can empower your staff – including your sales team and your internal advisors – to offer timeous and accurate solutions to defined issues.
The utilisation of technologies such as chatbots allows your business to handle more activities without requiring human control or intervention.
One of the best functionalities of AI in businesses is its ability to predict the future using an extensive amount of data.
AI-powered insights include churn analysis, predictive analysis, and predictive maintenance.
This allows you to anticipate possible outcomes, and prepare your strategies accordingly.
AI can be used to personalise interactions with your customers, which increases their satisfaction with your services.
This includes the use of chat bots and virtual assistants to address them personally – and also allows you to use previous data to understand their history with your company and offer them tailored content and deals.
AI can be used to process vast amounts of data exponentially quicker than if done manually.
This allows you to get more insight into your business’s performance, identify issues, and make better decisions moving forward.
Microsoft AI 360
Microsoft’s AI 360 model is designed to help you unlock the benefits of AI for your business.
Microsoft is a leading and trusted name in the ICT industry, and has decades of experience in being a driving force of innovative technologies.
This article was published in partnership with Microsoft.