How Artificial Intelligence Could Help Businesses at Risk During COVID-19?
Published on : Sunday 19-04-2020
The novel coronavirus has a severe impact on businesses across industries worldwide. And to survive in this scenario, the practice of social distancing is imperative until the development of COVID-19 vaccines. Several governments now have imposed lockdowns that cause economic activity to be slowed around the world and billions of people to shelter in place.
Since understanding customer behaviors are crucial for brands to deliver effective services, the pandemic has made it harder and even more critical. This is now leading sales and business development within an organization to suffer. Artificial Intelligence can play a pivotal role, as the technology can identify which customers are likely to engage and most likely to make purchases. AI-driven sales performance solutions can assist companies to improve their productivity and effectiveness by enabling them which customers to prioritize.
The ability of AI in automating services, improving workflow efficiency, and minimizing operational costs is enticing organizations to leverage the technology at large. It has already proved that it has the potential to greatly assist both B2B and B2C companies in advancing back-office efficiency, by automating auditing processes, streamlining data migration using RPA, validating documents and certificates for compliance, and enabling employees to make shifts to lines of business operations that need critical business decisions to be made.
Robotic process automation (RPA) can assist skilled employees by taking up monotonous, arduous, and mundane data entry jobs, meeting the new-age business needs. As the technology performs by automating certain repetitive software-based tasks to ease up people to focus on work that computers cannot do, Aisera, a provider of AI Service Experience solutions, has brought an idea by using artificial intelligence to help not just workers with internal tasks, but in customer-facing environments as well.
Aisera has chosen a noteworthy list of customers, including Autodesk, Ciena, Unisys and McAfee, covering a range of use cases from computer geeks with very complex questions through to people who didn’t mature in the computer generation.
Since more businesses identifying the potential of data to drive business development and growth, expectations of finance are shifting. In the treasury, artificial intelligence can improve oversight of trading activities, making it easier to oversee markets and capture signals from sources that might not otherwise be available. There are a range of workflows, data inputs, and communications and reporting exercises that frame a cash forecasting process. In this way, using cash forecasting automation may pass on to automating the process in its entirety or may automate the constituent parts of this process.
Technology has had positive effects on the well-being of businesses and artificial intelligence has proved to effective in this landscape. As we are currently facing a pandemic, developments in AI applications such as natural language processing, data analytics, machine learning, speech recognition, and others have not only been utilized for making businesses keep going but also diagnosing and vaccine development.