The role of AI in business management

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AI in business management 2021

Optimize processes and generate insights for assertive decision-making. These are common goals of companies that are undergoing digital transformation. Besides, these businesses’ goal is to offer an excellent experience to customers to retain the public and increase profitability. A technological resource that has already been adopted in organizations worldwide for bringing these and other differentials is artificial intelligence (AI).

A survey conducted by Adobe showed that, in 2019, 15% of businesses already used AI for management, sales, and relationship strategies, and 31% of them intended to do so in 2020. Another data from a study by Juniper Research points out that global investments in technology are expected to reach US $ 7 billion a year by 2022.

This is certainly not for nothing. If you have made it this far, it is probably because you want to know more about applying this disruptive solution in companies, its benefits, and the most suitable tools. In that case, you got to the right place. 

What is artificial intelligence?

Despite being a term increasingly used in the corporate world, it is common to doubt what artificial intelligence is. It is an area of ​​computer science responsible for creating resources capable of simulating the human capacity to reason, perceive, make decisions and solve problems. In this case, all these machines’ actions are based on patterns of massive databases for specific purposes.

Practical applications of artificial intelligence in organizations

Currently, AI is present in all places and real estate market sectors, which use the resource according to its characteristics and objectives. To be more explicit, check out some practical applications below:

Artificial intelligence in the retailer

Retail is one of the segments most contemplated by artificial intelligence since all processes become leaner and more efficient, both in the physical POS and virtual store. Through data analysis, machines and systems can make decisions without the need for human intervention, which frees up more time for teams and, consequently, increases productivity. 

Logistics, for example, is one of the areas that benefited. With AI, it is possible to reduce storage costs and predict the number of products, shipments, best routes, and delivery time.

Other advantages of using artificial intelligence in retail are:

  • Improved service, thanks to chatbots that make responses and problem solving more agile and satisfying;
  • Recommendation and customization of products in e-commerce and also through devices installed at physical points of sale;
  • Evaluation of consumer behavior through machine learning, or machine learning, can detect the most different movements of the face, recognize patterns of purchase history, among other factors.

Information security

When the home office is becoming increasingly common, artificial intelligence can help businesses protect their data and applications from unauthorized access. Through solutions such as reading and decoding the iris, it is possible to ensure that only authorized persons access systems and applications. 

Besides, solutions are already being used for cyber defense, identifying risks and vulnerabilities through constant scans. This promotes more data security, which is increasingly valuable for business.

Human Resources

Selecting good candidates is one of the most complex tasks for a company. This is because a detailed study of profiles and characteristics is necessary that will lead to the most appropriate choices. 

With artificial intelligence solutions, this task becomes more manageable. This is because the systems can analyze thousands of resumes in a few minutes, making a pre-selection of the most qualified professionals to occupy certain positions, reduce costs, and improve the processes’ results.

Understanding behaviors

As we mentioned, one of the main applications of artificial intelligence is the understanding of behaviors. By totally segmenting a brand’s audience according to their preferences, the marketing sector, for example, can create increasingly personalized campaigns, exploring data and almost individually, generating a much better return on investment. In turn, the sales area receives leads that have already passed through the sales funnel and are ready for purchase. 

Generating insights

To stand out in the face of high competition and win customers, companies must have solutions in their hands. It bring the necessary insights for daily decisions quickly and efficiently. This is precisely one of the main benefits of artificial intelligence. 

Advantages of adopting AI

From what we’ve shown so far.You could have an idea of ​​what artificial intelligence can do for your business, can’t you? 

Economy

Robotic Process Automation or RPA projects can be used to bring automation to repetitive activities. It take time and prevent professionals’ attention from being employed in the main scope of companies. 

Thus, in addition to the teams becoming leaner, errors and rework are minimized, contributing to productivity and developing strategies and processes for continuous improvement. All of this is directly reflected in cost reduction.

Customer satisfaction

Offering a memorable shopping experience is the most critical competitive advantage these days, more than products’ price or quality. Artificial intelligence helps companies in several ways to achieve this goal. 

Chatbots, for example, is responsible for the satisfaction of most users, and speed is not everything. According to a survey by Opinion Box in partnership with Zenvia, 52% of consumers say that bots facilitate the contracting of services. And other  51% think they optimize the purchase of products. 

More intelligence to systems

AI is also revolutionizing systems in general, making them more powerful and intelligent. This is the case of the ERP platforms, which can have integrated artificial intelligence capabilities. Capable of transforming smart data into business insights.

Meet Carol: TOTVS artificial intelligence

Carol, TOTVS’s artificial intelligence, are  the example of how this resource can assist companies’ decisions. it can use ERPs to manage the areas. It has been developed since 2015 by teams of data scientists and engineers from TOTVS Labs and uses the best languages ​​on the market and its technologies. 

Through solutions such as machine learning, deep learning, and algorithms of the platform. It can extract data from the most diverse management software of companies. Transform them into valuable insights that assist in decision-making.

Among the features are:

  • Processing hundreds of terabytes of data with extremely high scalability.
  • Analysis of old data for business forecasts.
  • Recommendations such as suggestions for prices, products, prospecting, and others.
  • Conversation experience with creating entire structures (web or mobile) through natural language processing (NLP).
  • The electronic point is marking by facial recognition from anywhere, without extra equipment, just a cell phone or tablet camera.
  • Use of security cameras with facial recognition to optimize the experience of employees and customers.

As you can see, innovation and artificial intelligence can offer a vast range of possibilities for business growth. However, it is a complex task, which requires the help of professionals and specialized companies. Integrated systems that bring the business intelligence needed today.

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