3 Ways Artificial Intelligence Can Make You More Competitive (part 2)

3 Ways Artificial Intelligence Can Make You More Competitive (part 2)

In part one of this article, we did a quick overview that defined artificial intelligence and how neural networks actually function. In part two, we will be a little more pragmatic and explain how we can use this technology to improve our competitiveness.

While creating a neural network program is a fascinating undertaking that any good programmer should aspire to work on at some point in their career, we will not waste our time trying creating something that has already been developed by AI specialists. You know, we push innovation by standing on the shoulder’s of giants. and all that. Instead, we’ll rely on Google Prediction – the AI infrastructure that Google can provide for this purpose.

As we saw in the first part, artificial intelligence techniques are generic and can serve any purpose any we choose. Therefore, we are the ones who must develop the experiments necessary that will help the machines learn to resolve our problems. Working with Google Prediction, it’s quite simple. First, we will train your system with classification examples (the more the better). Performed correctly, the Google algorithms should learn how to classify future entries without having to provide any new rules.

Here we look at three possible uses for artificial intelligence in business:

1. Improving Sales Using AI

A fundamental task in selling (especially when using Inbound Marketing) is to qualify customers. What are the odds that a user buys? Are there specific qualifiers that must be met?

We will train a neural network using a very simple classification, examples can be classified as “buy” and “won’t buy”. For each example, we will include all the data we have about the new lead: country, date of purchase, if the domain is within the enterprise sector of the company, position within the the lead’s company, number of visits from that lead, specific activity they have made and anything else that comes to mind that can influence a buying decision.

Once we have given enough examples, we may ask Google predictions. We will give you the details of a user and Google will answer us with a “buy” or “won’t buy”. Its that simple! Now we can forget about qualifying leads and go directly to selling the leads most likely to close.

2. Automating the Customer Service Process

When your customers first make contact with you, do they ask you for your solution? Do you communicate their problems? Do you negotiate the terms? Or do you just send everything to your manager?! Using artificial intelligence, you can use examples to classify incoming emails from your customers and identify the reason for their inquiry. Once you have the trained system effectively, you can ensure that each customer inquiry reaches the right department without anyone having to manually sort them. If your business is international, you can also track them by language, often saving time and unnecessary headcount, and your customers will appreciate the faster response time.

3. Tracking and Analyzing Your Competitors’ Activity

Do you currently use any tools to track your competition? Watching the movements of your competition is critical to staying relevant in the eyes of your customers, however it’s nearly impossible to stay on top of every action they make. How do you know if their home page was updated or if they changed their pricing? Have they started a new AdWords campaign o is their latest newsletter aimed at stealing your customers? Now you can automate the entire tracking process and only be alerted when something important is taking place.

Take all the examples you have of their website changes and classify them into “important” and “unimportant”. When you have everything ready, connect your tracking tools and only be alerted to what is important. At Kompyte, we’re implementing this technology to always give you the most relevant changes and making sure you don’t waste time with things that aren’t important or don’t affect your business.

As you can see, the use of artificial intelligence is not something reserved only for technology companies. Any business can greatly improve their productivity and increase market knowledge by implementing these methods. If you do any repetitive task every day or even every week, chances are you can automate it using using artificial intelligence.

Obviously implementing these tools won’t happen overnight, but the benefits in the medium and long-term are nothing short of remarkable.

Start Tracking Your Competitors Today

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Written by Sergio Ramírez

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