Remember the old school Robocop movie. It brilliantly portrayed the story of a human police officer who transforms to a cyborg with help of artificial intelligence & fights crime. These ideas which were only movie stories are now turning into reality. Last year Dubai police unveiled the world’s first ‘Robocop’ powered by artificial intelligence. The future is already here! Believe it!
Artificial intelligence has been creating quite a buzz in our current lifestyle & the ways businesses are no exception. There are many reports which say that about 80% of B2B marketing executives believe that artificial intelligence will revolutionize the field in the next four years. Given its potential in storytelling & management of operations by learning itself over, there is no wonder.
Artificial intelligence has also made its step in data management for corporate organizations. Digital gold rush is the new treasure hunt in the market today & everyone knows that everyone wants a piece of it. But the miners need the power of artificial intelligence to smoothly run the business. Artificial intelligence has also helped companies who were unable to overcome key data management challenges which include data integration, data retention, & more.
Artificial intelligence & data
It’s true that marketers are not strangers to data but we marketers spend a lot of time reviewing & cleansing data to get a complete picture of prospects & customers. This has been a problem that has been haunting the race of marketers for a long period of time. But with the moderate availability of higher computing at low costs, advances in machine learning & deep learning technologies, businesses have entered into an era of rapid automation of life around us.
With artificial intelligence, you will be able to tap into larger data set with ease to paint a more relevant picture of the business process.
It’s normal for businesses to want rapid data access. But unstructured data remains a major reason on why data management presents difficulties for businesses, which distracts executives from the main business goals. The lack of proper skill set is still a major challenge & this causes businesses to miss out on actionable insights as the data collected is mismanaged – ultimately resulting in poor marketing strategy. This results incorporates to assign employees to handle separate projects or existing employees to handle more work.
Let’s imagine a small scenario
A company gets its hands on a huge amount of dark data, the majority of which the existing employees of the organization are not aware of. This is where the importance of artificial intelligence, analytics, and machine learning comes up.
Together, they act as superheroes that can access the power of algorithms to classify various types of emails, images, documents, videos, etc. – which are stored on the servers. The only thing that’s left is then for an expert to review, tweak if necessary & implement into the business model. A significant problem of data retention can also be solved with this process.
What we can get to know from this scenario is that technology is not as discerning as the employees of a company as Analytics, AI, and machine learning can identify data that are rarely or never used in an objective manner.
Real time effect
Digital marketing experts around the world have been parroting the term “real time” while they describe the pre-sales efforts or customer service. The arrival of machine learning has boosted the scene of real time to the next level. Artificial intelligence has successfully broken all the barriers that stopped businesses from reaching their prospects. These features not only benefit the marketers but also the clients who can see changing offers & promotions every minute.
A machine is all that is needed in today’s age to process the online data crafted by the behavioral pattern to produce solutions that are relevant, customer-specific along with forecasting future buying trends based on past purchase patterns. Artificial intelligence enables the fetching of real time data 24/7 allowing companies to analyze it for generating powerful actionable insights.
Adapt AI, Improve & Overcome
In today’s world of business, data needs to be flowing & available in real time. Artificial intelligence makes it possible & acts as a powerful foundation for impending competitive advantage. This technology is more effective than the traditional models primarily because it uses machine learning to improve itself on which class of data will be more useful.
Artificial intelligence also helps out in automatically storing data in slow or fast storage, depending upon the business rules that is established by the machine’s algorithm. This level of automation saves managers from the trouble of manual optimization of storage.
Importance of Data quality has become more important than ever – as well as the services & software that support this mission. Corporate data management is no longer the fashionable leisure work of a few scientists but active pensiveness of mainstream employees. Strategize your data with artificial intelligence to achieve competitive advantage & business disruption.
This article was contributed by Amberlynn Adam, Blogger, Content Developer & Editor. Amberlynn is a Content Marketing Professional and is an integral part of DataCaptive since its inception. She holds a passion of tracking new changes in the ever-evolving business world and putting them down in the form of blogs to encourage intelligent discussions & thought exchange. Apart from writing, reading fiction and thriller novels are her major interests.