How AI suggestions can drive business?

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In its surveys, GfK asked its panel a very current question: «Can your business survive without Artificial Intelligence?». The company analysis in an article the significant role and importance this kind of techology have reached in any sector. «If you are figuring out what’s the next product to produce – explains Kriti Sharma, VP of Product at GfK – which market to enter, or what skills gaps might exist in your business, AI technology can help you make those difficult decisions with more confidence». And managers agree with her, as data shown: 94% of executives see AI as an important tool for solving strategic challenges, and it is not hard to see why. Oriented by human know-how, AI mines predictive insights from data to drive business. Artificial Intelligence is also very useful to understand and pridict the customer experience. «The top two use cases for AI and machine learning among CX professionals – GfK expalins – include analytics to develop customized and relevant products and services and the creation of more highly-personalised experiences, according to an Oracle report». Data say that 86 % of CX leaders plan to use AI and machine learning to customize every product, service or offer by 2024. Among the obvious advantages of this technology there is of course its availability 24/7 and its ability of learning from customer behaviour. A personalized approach increases customer acquisition, average spend per transaction, and overall satisfaction. Using AI to fully map the customer journey helps businesses understand what drives purchases, the expectations of different demographics, and how customers perceive brands.

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