Introduction: How does a Business Use AI?

To answer these questions and more, Business Insider spoke with two people who understand AI and business: John Martinus, a senior research scientist at the Center for Machine Learning at AT&T; and Andy Dembner, cofounder of the startup incubator Next Big Sound.
Here’s a simple example of how AI can help businesses: If you’re a retailer, then the data from your website or app can help you figure out what customers are buying — or not buying — and predict what they might be in the market for next.
“If a customer comes in to buy something and it’s out of stock, then that tells you that many people who visited your store previously were likely going to buy that item,” Martinus says. “That’s prediction coming from the data.”

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55 chicago street buffalo ny 14204

What are the Best AI Tools Fitting Your Business Needs?

Martinus said that while every business has different needs, all need to find answers to the same questions. For example, how do you use AI to improve customer service? To understand how businesses are using AI in a customer service setting, Business Insider spoke with Ravi Shrivastava, founder and CEO of the startup Reply. Reply’s service uses natural language processing to reduce the time it takes to reply back customers. “It’s not just that we have an automated response,” Shrivastava told Business Insider. “It’s that you can have an immediate intelligent response.”
“Reply is so much more than that service,” he said. “We want to bring it down to even the most basic level of email communication and make it more personalized, automated and intelligent.” Reply’s clients include Lyft, KLM and Capital One. Reply’s software uses algorithms to identify certain keywords in customers’ emails, then recommends responses to keep customers engaged – or let them know when a response is not possible in circumstances such as when they are on vacation.

55 chicago street buffalo ny 14204
55 chicago street buffalo ny 14204

Which Businesses use AI and What is the ROI?

Dembner, who has seen AI become a mainstream technology in recent years, said the best ROI is found by learning to do something better or faster. “The best use of AI is when you can take something that you’re doing and do it better, faster,” Dembner told Business Insider. “Many businesses are using AI at a lower level to automate certain processes … but it’s not providing a tangible return on investment. If you can make a tangible return on an AI tool that you’re using, that’s the best use of AI.”

55 chicago street buffalo ny 14204
55 chicago street buffalo ny 14204

Conclusion: Start Using an Artificial Intelligence Tool Today and Save Time & Money on Your Marketing Campaigns

To learn more about how you can use AI to boost your business, Martinus and Dembner suggest running a test to see what your competition is doing. “If you’re not using AI yet, it’s not because you can’t, but it may not be the best use of your resources,” Martinus said. “What I know from the research is that any company with at least 50 people should be doing something like this. Any company that wants to talk to a customer or a potential customer.”
On what the larger companies are doing, Martinus said: “It’s been pretty consistent across all the companies that have an AI system. The size of the company doesn’t appear to matter at all.”

55 chicago street buffalo ny 14204
55 chicago street buffalo ny 14204