Leveraging The On-Premises AI Technology 'Hi-Touch' To 'Hi-Tech'

An experienced professional in financial and online retail product development, he has 14 years of experience in management and technical industry.

Humans 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 & Personalization
AI 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 barriers
The 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 search
Say 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.

This is one such instance where image-based searches come into play.

A recent study also indicates that around 80 percent of customers prefer brands that offer them a personalized experience

We know that a picture is worth a thousand words. So, using an image to search for a product online could save you from spending hours to find one specific result. Image-based search works like text-based search. It understands and interprets a user's input and then uses these inputs to deliver the most relevant search results. However, AI-powered image-based search goes further as it interprets and takes visual cues to learn from the user. After the metadata is applied to an image, AI-based image search systems can retrieve results based on visual similarities like color and composition.

Voice Search
Sometimes we prefer to put all the typing aside and decide to use our voices. After all, it's the most effective and convenient communication tool we possess. After all, it comes most naturally and it is easier to speak than thinking about what to type out.

In recent years, voice recognition technology has moved beyond the smartphone. It is now integrated into other devices as well like laptops, gaming consoles, watch-es, TVs, and so on. Customers are becoming more adapted to using voice functionality to search for products and make purchases. So, how does this help digital business-es?

Voice shopping is perfect for cross-selling. Since it's convenient, customers are more likely to visit a business site and make a purchase based on a recommendation. In addition, it personalizes the whole customer service journey. Voice searches also mean that data can be gathered based on whether the customer is a male or female, young, older, and even conduct their sentiment analysis. This data can be used to further narrow down personalized, tailor-made products and services that will keep them coming back for more.

Given the use cases, on-premises AI technology can help predict, optimize, and unleash the potential of real-time analytics. Using AI-based search engines and SEO, businesses can achieve the best results for their digital marketing campaigns as well. It can help improve visibility, engagement, and conversions.

Hence, there's no doubt that AI technology is revolutionizing digital businesses. Today, AI and ML are generating search results that target specific users with unmatched precision. It means that we have truly entered the age of machines. Therefore, implementing AI into business strategy is the way to go forward and can give your business a competitive edge as you take it to the next level.