Multidimensional AI will be the key to successful digital transformation
Artificial Intelligence (AI) has been hailed as the big technological breakthrough that will transform digital operations across the spectrum.
As the pandemic has demonstrated, AI-based automation and analytics tools have proven to be force multipliers and have given greater operational ease to health, civic and business authorities who have them. deployed.
In the post-pandemic phase, the emergence of multidimensional AI will be the key to a successful digital transformation of the world.
Robotics, autonomous vehicles, computer vision, NLP, video analytics, virtual agents, and machine learning, etc., have seen major advances in AI capabilities in recent years, and this n is just the tip of the iceberg.
Early adopters were able to combine their digital infrastructure with AI to achieve goals such as a superior customer experience, greater revenue and profit generation, and market leadership. Let’s examine how the various applications of AI are impacting different business functions by improving forecasting, sourcing, process optimization and automation, target marketing and dynamic pricing, delivering user experience superior, etc.
Absolute priority to institutional sales
Improving sales figures is the top priority of any business establishment and AI helps companies gain an edge in this area. Intelligent AI-powered CRMs help sales staff better understand and predict customer needs. Using AI analytics, sales managers can accurately identify top and bottom performing strategies and make dynamic changes to improve lead conversions.
Retailers can plan inventory in an optimized way
Going beyond the good old digital marketing analytics tools, AI has introduced advanced options like AI video analytics for marketing staff. Video AI analytics solutions are used to analyze video data generated by conventional CCTV networks. It helps to monitor and review customer behavior, identify best-selling or under-selling products, and demographic data. The information obtained can then be used to predict demand at different times of the day, days of the week, and increased demand during peak seasons. It allows retailers to plan their inventories and shelf spaces in an optimized way so that sales figures can grow steadily.
AI technologies for marketing
In 2022, if a company does not use any type of AI technologies for marketing, it is on the verge of becoming irrelevant. Today, AI is used not only for the development of marketing strategies or campaigns, but also to execute, revise and improve them. Smart AI marketing tools deliver targeted ads to consumers based on their preferences, browsing history, purchase histories, and more. This is something that e-commerce platforms and online retailers are already doing. Now, with video AI analytics, it is possible to monitor and analyze the impact of physical marketing campaigns in retail stores and malls, etc.
For example, if a company is running a promotional activity in a store, video analytics would provide information such as how many people were engaged, what time of day the most people were engaged in the campaign. Advertisers would know if more men are participating in the promotion or women, their age ranges, ethnicity, etc. Such insights can greatly improve the effectiveness of future campaigns for marketers and give them a better understanding of the audience.
Safety, a major concern
Security has become a major concern in almost every field today. This is where the integration of AI with CCTVs has brought game-changing capabilities that can make our world safer and more transparent. For example, intelligent AI video surveillance enables facial detection and can be used to control access to buildings, to specific areas in building complexes, to only authorized persons for that area. It would continuously monitor and report any suspicious activity, behavior or sign such as stress, agitation, anger to identify the intent of visitors to a place. It can even be trained to identify objects such as firearms, to watch for traffic violations, harmful driving and violence, etc. when executed. The integration of AI fills this gap.
Crowd management, a must
In post-pandemic times, managing crowds in premises has become a must, and thanks to AI-powered surveillance systems, the task has become much more manageable than ever. AI monitoring can count numbers, as well as monitor factors such as social distancing, behavior and mask adherence, etc. Even after COVID-19 is completely under control, there are various other infections and potential future pandemic risks that can be eliminated with the help of AI-based crowd management.
Smart Urban Management Solutions
Using AI to manage smart buildings is already in vogue. AI is used to manage buildings and control lighting, heating, cooling, access and surveillance in modern buildings. The integration of IoT and video AI analytics has now enabled a person to seamlessly and contactlessly enter a building, reach the designated place and perform the tasks of smooth and safe way. On a larger scale, smart cities are witnessing the deployment of such AI-powered systems that can efficiently manage a network of smart buildings, roads, public spaces, and transportation to create an integrated and superior experience for administrators. of the city/building as well as the general public.
AI was first brought into the public consciousness through sci-fi movies and comic books, but it quickly spread across the 21st century. We are still far from creating an AI that is truly sentient, self-aware and able to solve different challenges in a human way. Yet we have moved closer to a scenario where AI would enable all machines and buildings to become automated through the integration of IoT solutions that allow them to speak, listen and see.
(Abhijit Shanbhag, President and CEO, Graymatics)
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Posted: Saturday April 02 2022, 9:51 PM IST