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Graphic courtesy of author.
Graphic courtesy of author.

Tech companies continue to come up with better and more advanced ways to develop artificially intelligent systems that will help industries in carrying out laborious activities, while increasing efficiency, speed, and accuracy. As time goes by, more brands have accepted the use of these AI’s in their production processes and in serving their customers. Walmart, Sephora, and even Lowe’s utilize AI technology in their everyday production, which is a clear sign that AI has become evolved enough for actual practical means.

Why Use AI Technology?

A few years ago, big data was an exciting thing for many companies, because they had everything they needed to improve services. The only challenge was the cost of analysis. Back then, companies had to hire analysts to process the data. Today, with the use of AI, brands can extract information from live news feeds and analyze them in real time to assist in making investment decisions.

Through machine learning, the AI’s carry out a market analysis by combining and computing a company’s big data on the web, and by assessing other events and activities from other brands. The AI then gauges the company sentiment and assigns it a score. One of the most popular AI’s with a wide range of functionality is the Sqreem (Sequential Quantum Reduction and Extraction Model).

Increased ROI

Brands such as Google and Amazon have already incorporated the use of AI to help create a better connection with merchants and other users. By reaching out to their customers through automated messaging, human-assisted AI, chatbots, and proximity campaigns, the brands spend much less, but still offer practical marketing solutions to their businesses.

Artificial intelligence technology is and will keep assisting brands and companies to have what could have been done in hours done in seconds. The aim is to reduce human labor force, so people can focus on doing what they do best, leaving to the bots to do the rest.

Please click on the image below to see an infographic on how AI is affecting businesses.

Potential Legal Issues

With increased competition, any brand which can afford to invest in an AI is doing so fast, without considering legal implications. While Legal Reader publishes articles concerning various legal rights, we cannot offer legal advice. If your business is considering the shift to artificial intelligence, but you are not sure about the legal rights, contact a lawyer for the best information.

 

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