Business Influencers Predict 4 Ways AI Will Double Sales In The IT Industry
The 21st century age is one of the exciting periods of human history where technological advancement is taking place in our daily life. We now have smartwatches monitoring patient’s health, car driving themselves, a robot working in industries, and artificial intelligence unleashing unstoppable innovation every day.
In fact, AI offers the opportunity for businesses to automate routine task so that humans can better use their time, providing higher valued contributions said, Ellie Mirman, CMO, Crayon. Tech-savvy marketers are now using the potential of AI to enable balanced revenue with effective growth and good customers experience.
However, AI has opened a lot of opportunities to improve marketing and sales operation. Organizations who have enabled AI at the enterprise level are increasing operational efficiency, making faster more informed decisions and innovating new products and services.
Before we start talking about the evolution of AI and its effect on sales, we have to keep in mind there are no such things as “finished technologies.” Technology is always moving forward, and AI is no exception.
Below, therefore, are 4 ways AI will move business sales in the IT industry
1. AI Will Improved Sales Forecasting
Sales manager face several problems while trying to predict what their team’s total sales will fall each quarter. But come to think of it, who would not love convenience? We all do, even our customers.
Savvy marketers worldwide are using artificial intelligence to pave ways for more rewarding human interactions. Platforms now leverage this technology to collect and aggregate marketing metrics and draw meaningful analytics out of the data.
“The most significant value AI is producing to salespeople today is saving their time and bringing more data to the table to improve the decision-making process, definitely not replacing them. So, salespeople can be more focused on selling and personal communication with people rather than doing a lot of routine tasks that no one really likes.” - Dan Hnatkovskyy, Co-founder at Propertymate.
With the use of AI, managers are now able to predict with a high degree of accuracy next quarter’s revenue, which in turn would help a company, from an operations standpoint, to better manage inventory and resources.
2. AI Will Create A More Customized User Experience
With AI on the minds of not only businesses but also customers, it’s definitely going to become a prospective advantage in 2019. Several businesses will use AI to customize the user experience, data analytics, buying trends and browsing history.
In fact, automotive technology is steadily using more of AI, and it's now becoming one of the keys factor enabling auto transport companies to stay ahead in the race. These solutions, as they develop, will create new possibilities of generating revenue via superior customer experience.
For example, If a prospective customer visits a vehicle transport company’s website and, search for a particular car or type of vehicle, your system is set to show recommendations that are customized specifically for their preferences.
With this, the prospect will find the interaction more personal and is likely to show more interest to get in touch with the auto dealer sales and eventually close the deal.
3. Power Fraud Prevention
A study by U.S. cybersecurity software giant, Symantec, reveals that 978 million people across 20 countries were affected by cybercrime last year. Victims of cybercrime lost a total of $172 billion — an average of $142 per person — as a result, researchers said.
Cybercriminals have upgraded their ways of attacking businesses in today's digital world. But the interesting part is that we now have AI-powered fraud detection tools, which can go against sophisticated fraud schemes.
However, Using machine learning, cybersecurity solutions—in effect, a computer’s ‘immune system’—could use AI algorithms to identify digital threats as they occur, long before a breach takes place, and use this information to prevent them. By connecting to a company’s network. Over time, machine learning would determine what’s normal and fight off anything that seems out of the ordinary.
4. AI Will Enable 24/7 Customer Support
Who doesn’t appreciate customer support with fast response and uninterrupted service? One of the surprising benefits of using AI for automating responses is its independence from time constraints and holiday offs.
In fact, according to a recent Zendesk study, as much as 42% of B2C customers showed more interest in purchasing after experiencing good customer service. The same study also goes to claim that 52% of them stopped purchasing due to a single disappointing customer support interaction.
However, AI will make it possible for customers to have 24/7 support in order to:
- Identify customers issue
- Respond with solutions and suitable products
- Resolve issues before they arrive
- Enhanced customer satisfaction
AI for customer service process brings comprehensive balance in the support system. While customers receive efficient solutions, agents fulfill their service commitments and relieve loaded support channels from the hectic rush.
The challenge for any company is always finding new ways to grow their revenue or sales, reduce costs, and expand market share, while at the same time minimizing risks. AI trends have the potential to offer excellent opportunities for businesses to augment growth.