Artificial Intelligence is believe to be the harbinger of a better, more prosperous future and rapid developments in diverse fields like business, banking, science, and even politics. However, in order to assess the real power of AI, we need to answer some fundamental questions like:
- What are the human-like qualities of AI that can render quality services?
- What are the real-life use cases of AI?
- How has AI helped in generating a better experience?
- How is AI helping organizations achieve their goals?
We dived deeper into the matter and used various authentic sources to know how AI is performing in the real-life scenario. Here is the blog that answers the above questions to analyze the real-life potential of AI:
The voice recognition of capability of AI is proactively helping some of the major brands of the financial sector to deliver a personalized experience to their potential and existing clients. Besides, the predictive and analytical qualities of AI help these institutions to offer the best advice to their customers.
One of the strong user bases of digital banking is millennial and most of them are aware of AI. So banks are actively incorporating AI in their net banking as well as banking apps for offering those friendly services as well as contextual advice or recommendations to offer a better customer experience. It also helps the banks to sell more services to their clients. Banks collect data from the user’s mobile device and extract key insights out of it with the help of machine learning. It enables them to offer personalized services and information that align with the user’s profile, demands, and behavior.
People get over cautious during the banking transactions, especially if it involves large amount or transferring funds for the first time. Here the AI-powered chatbots can be of great help. They can provide accurate answers to the general questions and can also take users to the banking site for a more specific question. Along with helping the net and app clients, these AI-powered chatbots also reduces the workload of customer care staff thus improving the overall service quality. Due to interactive nature of these chatbots the customers are even able to complete some basic actions quite instantly in the real-time like opening/closing their account or transferring the funds. Likewise using the predictive analytical capabilities of AI the bank can also help the user in the financial planning and meeting their basic or lifestyle needs in a better way.
Identifying the potential leads and following them is one of the key aspects of marketing a retail product or brand on the internet. However, it is a time-consuming process and the results are unclear. Thanks to the AI powered virtual sales assistants this process has become much easier and hassle-free. These smart virtual assistants can not only identify the potential leads but can also start an engaging conversation with them. They are apt at understanding and conversing in natural human language to keep the leads engaged and convinces them to make a purchase. Some of the advanced virtual sales assistants are some smart that they can even offer cross-selling services independently to further boost sales. Many brands are already experiencing better email response rate, more sales, and improved customer relations by using AI.
Due to their high accuracy and enhanced analytical capabilities the AI enabled robots are able to guide the surgical instruments in a very precise manner thus eliminating a large number of post-surgery complications. It also minimizes the incision that reduces the healing time. Eventually, it helps in reducing the stay period of the patients and save them from expensive hospital costs. Some of the AI-powered robotic assistants include Da Vinci and Heartlander.
Thanks to the precise analytical and processing power of AI has also forayed in the arena of art. Here we are not talking about basic shapes or simple forms. AI can draw exquisite paintings that are compared to the master art pieces. For instance, Generative Adversarial Networks is a specific AI algorithm that can actively help in creating awesome paintings. In one of the real-life examples, it created a realistic portrait of Edward Belany and it looked so appealing that Christie’s the 250+ years’ old auction house didn’t think twice before buying this painting and presenting it an auction. The good news is that this painting was purchased at a whopping $400,000+ price tag. It shows that AI is proving its mettle in the field of art too.
Specific qualities of AI
We have already discussed about the various fields in which AI is successfully delivering the positive experience. Now we will talk focus on the specific human like qualities of AI and how it helps the organizations to meet their specific objectives:
AI is said to possess and even surpass some of the key human brain qualities. However, there are many people who are still not convinced of AI capabilities. In this blog, we have talked about various human-like qualities of AI supported by some real-life examples where the major, trusted brands are already using AI to deliver a better experience and increase their sales. These real-life examples prove the real-life impact of AI.
Alisha is a content writer and director of operations. She writes for various industries like travel, wildlife, history, art, and of course technology! She works with B2B and B2C businesses providing digital marketing content that gains social media attention and increases their search engine visibility.