What is Artificial Intelligence?
Artificial Intelligence or AI, is the theory and development of computer systems able to perform tasks normally requiring human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. Machine Learning, a subset of AI, is the study of algorithms that improve automatically through experience.
Benefits of AI
In business, AI helps to simplify and automate processes (repetitive, lengthy or dangerous tasks where robotics can replace human actions) and free workers’ time to upskill in value-add activities. Machine Learning also supports Business Intelligence, for example increased accuracy in demand forecasting for retail, distribution and manufacturing sectors. By automatically learning, analyzing and combining data sets, business can match supply and demand.
In the home, consumers benefit from Artificial Intelligence (often in conjunction with other disruptive technology such as IoT and Big Data) to make life easier and more convenient; reminders from our smart home devices of the grocery list or into the future self-driving cars.
Chatbots and Artificial Intelligence
What is a chatbot?
A chatbot is a software application used to simulate human conversation online through voice commands, text chats or both.
Benefits of chatbots
These conversational agents enhance the customer experience by helping solve customer requests, place orders or direct a customer to the right department.
They can also:
- Automate certain repetitive tasks such as FAQ in customer service
- Provide a prompt response anytime
- Help boost sales through cross sell and up sell suggestions
- Help in making a purchasing decision
- Manage payments and facilitate the sales process
- Deepen customer understanding
- Help increase customer engagement with proactive interactions
Artificial Intelligence and Prodware
Prodware’s innovation approach harnesses AI in multiple offers, from image recognition for field service technicians, to analyzing trends in currency data for managing hedging risk, through to ChatBots for customer service scenarios to transform employee and customer experiences and to support strategic decision making.