INSIGHTS

NEWS AND INSIGHTS FROM IGNIVA

January 10, 2017

The Droids You are Looking for: What AI can do for your business

BY AURELIA BONITO

Chatbots might have started as an internet craze, a pass-time that could produce great screenshots for your Facebook timeline and the odd viral meme. Now, however, they are becoming increasingly sophisticated and can provide cost-effective, instant customer service for your clients. Of course, you’ll still need some real people at some point along the line to deal with difficult issues, but AI could now become the automated core of your customer service arm.

Chatbots, or customer service AI, are, of course, not the only ways that AI can help your business. AI can streamline your marketing, making analysis of campaigns more efficient and their development more data driven. It can help build your SEO profile, helping you to better recognise when keyword-stuffing has gone too far and rectify the user experience, and your SEO to boot. Essentially, anything that requires analysis of data to drive forward a process is ripe for AI control, or at the very least, input.

However, chat-bots aside, many of these uses for AI are still some way off being developed to the point that they will be worth the investment for businesses to install them and incorporate them into their processes. This has led some in the field to speculate that AI is somewhat of a bubble, a craze which will fade away, with current valuations for AI companies crashing in the process. At the moment, investment and confidence in the sector remain bullish, CB Insights reports that VCs invested $5bn in 658 companies last year, a 61% increase on the previous year.

Only time will tell whether the AI revolution will fully revolutionise what your business does and how it does it, but your customer service can certainly benefit right now from investment in AI. AI in this area is not only worth the investment almost immediately, but also has huge long-term potential as the technology improves even further.