AI (Artificial Intelligence) is the backbone of development across industries. Digital technology is transforming every industry, every function across domains and at an unabated speed. AI-ML-enabled varied applications are helping sectors like retail, manufacturing, logistics, automobile, F&B, and many more that you can think of.
Artificial Intelligence along with subdomains like Machine Learning, and Data Science is hugely impacting functional areas of companies across industries, viz. sales & marketing, operations, HR, accounting, customer service, etc.
In the year 2018, there were 37% of companies who adopted AI strategies and redefined goals using the technology, there’s been a significant rise in number as of now.
As per one recent Mckinsey survey, 56% of companies worldwide are already using AI (Artificial Intelligence) at least in one of their business functional areas!
In this article, you will come to know about AI’s massive use-cases, benefits, and scope of the technology to transform your business in 2022 and beyond.
We are covering a few industries as the scope is massive which cannot be covered in one article!
Healthcare
Patient Diagnostic Data Analysis
AI-enabled data analytics helps to discover, and analyze patients’ data, and several third-party data and extract valuable information, and insights from them.
Adequate recommendations and suggestions are given by analytics that helps in the decision-making process. AI-assisted diagnostics help to provide better and more accurate suggestions that lead to lower mortality rates amongst patients.
Underlying reasons for health issues, symptoms can be now detected in advance making the treatment process fruitful for patients who get medical treatment on time, and are satisfied with health outcomes. Cancer, heart ailments, diabetes, etc. are the areas where patients get immense benefits from AI-backed healthcare processes.
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The retail business is undergoing continuous development, while retailers are struggling to stay afloat in the face of severe market rivalry and rapidly changing client buying patterns, which can turn out to be difficult to determine.
Clinical Research & Drug Discovery
If you are a healthcare provider, you can benefit from AI capabilities massively in the clinical research and drug discovery arena, too. Based on the number of previous data, samples, records, medical intelligence, you can accelerate your clinical research program, finding newer drugs and medicines in the segment.
Greater efficiency, productivity are guaranteed in the process; lowering your R&D cost is another significant use case of AI. You can finely integrate data of FDA, you can find mismatches in the market as well as FDA rejection rates, approval rates for drug discoveries.
Personalized Healthcare Service & Medications
AI-ML-enabled medical records and patients’ data can help you derive the best treatment plans for specific patients who need unique medical care and treatments.
You can provide those patients with custom-tailored health solutions. Using EHR/EMR, patients’ genetic records/profiles, medical history, etc. can help you plan for personalized medications and healthcare services to them.
Prescriptive Analytics for Real-Time Solutions
AI-enabled prescriptive analytics can help healthcare providers, businesses to prioritize and manage patient flow by automatization.
AL-Ml-NLP-powered prescriptive analytics help to extract, integrate patient data and help to prioritize patients’ urgent needs/calls while lowering error rates in real-time. Accuracy, efficiency is the core of this AI-powered digital tool.
Advanced Medical Imaging Insights
AI-powered medical imaging tools and analytics help in analyzing varied medical images,x-rays, etc., and then the transformed images are used for possible situation-based models to cure patients and find advanced solutions.
AI-ML-enabled diagnostic platforms are suitably equipped with advanced image processing capabilities which can accurately detect possible diseases and any prospective chronic illness that can begin in a patient’s life journey!
Market Research in Healthcare
AI can suitably track market prices, competitors’ prices in the market and help in preparing a hospital’s competitive intelligence report.
AI-ML-NLP-powered intelligence tools can see present insurance plans available, information like drug prices in the market, and varied public data-based insights can help to optimize your services bringing better outcomes.
Sales
i. Pre-Sales
Forecasting of Sales
AI-ML capabilities help to forecast sales and have a massive use case for sales domain in companies across industries. The digital tool/technology facilitates accurate sales forecasting based on massive input and data insights of customers and previous sales results/outcomes.
Lead-Generation
AI-powered analytics and other tools help to identify prospects, by using data profiles of varied customers, visitors and allowing sales representatives to know who they can connect with and who to avoid. Generating leads using massive databases is the AI’s significant use case and benefit in the pre-sales domain.
ii. Sales
Automation of Sales Data
Your company’s CRM can automatically get updated with the latest data and insights based on varied data sources. AI-ML-powered digital tools can automatically sync your CRM’s address books, calendar, phone calls, emails, varied SMS or messages, etc.
The outcome is a much better, enhanced sales visibility while sales personnel have improved sales time in their kitty.
Lead Scoring & Predictive sales
AI-ML-based predictive analytics allow your organization to know lead scores, predict sales and prioritize areas more important.AI massive use case is to enable predictive sales in an organization. Increased accuracy in sales forecasting via AI-powered automation tools increases sales outcomes.
AI system can automatically access sales representatives’ performances, lead scores while leveraging anonymized data as well. The system can analyze varied customer details, emails, calls even they are in the anonymous format.
Digital Sales Chatbot
AI-ML-NLP-enabled digital chatbots are an ideal example of AI significant use cases in sales and other functional areas. This tool can perfectly answer varied queries of customers, and if that chatbot feels it cannot serve queries properly, it will transfer those queries to human agents.
These are the intelligent, high-performing 24×7 digital sales chatbots who can serve the sales department by catering to initial contacts and then converting them to leads. This facilitates increased effectiveness and productivity in sales. In short, AI-powered digital sales chatbots are the digital assistants of sales personnel.
Customer Service
There are a plethora of significant use cases of Artificial Intelligence technology (AI technology) that lead to enhanced customer service, and redefine customer service operations to a new level. In today’s digital world, AI-Ml-enabled customer service analytics are helping businesses, application leaders across the globe and provide better outcomes. Let’s see how!
Biometric Authentication
AI-Ml-powered biometric solutions can help your company to authenticate, and verify authorized users to certain customer care activities and services. Physical Biometric Solutions, Behavioral Biometric are the two types of biometric Solutions that are benefiting companies across industries.
Doing a perfect analysis of human body parts using a person’s face, fingerprints, iris, as well as analyzing human behavior patterns like voice tone, gait, emotions, etc. are the ways AI-powered biometric solutions are helping companies. Indeed a massive use case of AI in customer service.
Voice/ Facial Recognition
AI also helps in other biometric capabilities using add-ons like voice recognition and facial recognition. AI can make accurate comparisons of facial features and their respective images/videos available in databases.
For example, an AI-ML-enabled algorithm can suitably analyze the unique shape of someone’s jaw, the exact width between eyes, and then finally match them with specific data available in the databases. How AI can do voice recognition?
This is a beneficial AI-powered voice recognition tool that uses data sets like voice tone, and voice pitch, and then perfectly encodes them at the end. This is how a unique voiceprint of an individual is created.
This way, AI helps the customer service department in a company to prepare a voiceprint for unique identification, authentication of individuals.
NLP Text-Analytics
AI-ML-powered NLP speech and text recognition analytics help to analyze customers’ moods, behaviors, sentiments, based on specific texts as well as their unique speech.
NLP applications help to extract and provide analytical insights from varied data sources viz., the content available on social platforms, reviews, blog posts, articles, social media posts, and varied forums.
Your company can leverage this immense AI-ML-NLP use case in the customer service department adding value-based outputs in the ecosystem.
Conclusion
AI is transforming people’s lives owing to its consistent growing trends in the market. Some of these AI trends are evolving and take time while others are proving to be quite an innovative turn. The crux is, AI is transforming companies across industries at the global platter. Massive use cases of AI are impacting sectors creating an efficient and effective system in the process of development.
AI is the future, and companies who plan to invest in this technology are going to reap benefits that come naturally. This is how 2022 is going to behave and how companies can leverage the massive AI capabilities to further business growth. The benefits, varied use cases of AI technology are the tips that can actually transform businesses across the globe.
