What Are the Reasons for Growth in Revenue of AI

As specified in the heading, let us first understand the term Artificial Intelligence (AI). In an older time, to complete a task there was the requirement of human involvement as well as human intelligence. But now we have ARTIFICIAL INTELLIGENCE, it basically refers to the machine that has the ability to complete this particular task in a smarter way. AI does not need the involvement of human being and gets the task done faster and efficiently.

AI will definitely increase the GDP of many countries. In the upcoming time, most of the customer interactions will be carried out without human beings. AI is the answer to many questions like how the ads can be personalized for different customers respectively, how to reduce the workload of administrative tasks, how to improve the experiences of customers etc. AI is the major thing that the sales team cannot ignore. AI can process a large amount of data very quickly and effectively that human cannot ever think of. So we can say that there are many applications of Artificial Intelligence in the real world. Just take an example of Siri in iPhones, it is nothing but artificial intelligence technique used in it. It is widely used by the companies for customer support because it has the capability to improve B2B generation which further results in an increase in revenue.

After reading about the basics of AI, let us study various reasons behind the growth in AI Revenue.

  1. SPENDING TIME IN INVESTIGATING CORRECT LEADS: After introducing AI, it helped to validate a large amount of data that can be provided by different channels, which further results in gathering the most accurate data. As you are working with more accurate data, AI included process results in an increase in sales. AI overcomes the fear of bounce back, wrong e-mail addresses or disconnected phone numbers. More accurate data results in more accurate leads and hence more sales.
  2. INCREASING PRODUCTIVITY: By increasing working hours per day, more will be the productivity and more the chances that you will stay ahead. No one can work 24*7 thus here comes the advantage of Artificial Intelligence Services. The aspects of machine learning can work 24*7. Hence it reduces your work as you have to simply guide the decisions and also there is no need to work longer. That means a large amount of work will be done in short period of time, which further results in an increase in productivity.
  3. DIGITAL ASSISTANCE: There is a great need for a digital assistant to increase the sales using AI. It will assist the customers in every aspect. The customers can ask any type of help at any time if they are not able to understand anything. The sales team is good at conversations but not at data entry and in this work they will be assisted by the digital assistant that can record information at any time.
  4. UPGRADE MARKETING CAMPAIGNS: Applications of Artificial Intelligence helps in upgrading the marketing campaigns as they can optimize the marketing campaign budgets better. It provides the real-time information about where to invest the marketing funds for better results. AI helps in collecting more accurate customer data and will not allow the potential customers to slip away. That further results in an increase in sales and hence AI Revenue
  5. ADVANTAGES OF PREDICTIVE ANALYTICS: With the help of AI, you will be able to create customer’s profiles based on their habits and searches. This will further help in predicting what the customer need or like to buy. It is very beneficial to sales industry that allows finding information about the customer without even meeting them. This will boost up the confidence in the sales team and probably convert the lead into the permanent customer. Hence it will have a very good impact on customers and will definitely increase the sales.
  6. FINDING CONTENT: It is very important for a company to maintain a balance between retaining existing customers and creating new sales. On the basis of prediction analytics, AI can answer many questions like when a particular customer will buy again and many more. AI is able to learn the buying patterns of the customers respectively and shows the related products according to their choice, as done by AMAZON. It is AI that is used in UBER, which uses AI to analyze the patterns and helps the driver to reach the right place at right time. Instead of Amazon and Uber, there are many other companies using artificial intelligence. Artificial Intelligence services are not only good for customers, but also for the growth of companies. Hence results in an increase in AI revenue.

Nowadays AI has become the part of our daily life and if you want to keep yourself in competition you must know about it.The above-stated points help the companies to increase their sales using AI and ultimately results in the growth of AI Revenue.

Source: ArticleCube