March 24, 2021
The rapid speed at which Artificial Intelligence is getting integrated is unprecedented but not really a surprise to those who have been following the changes that have been happening in the Artificial Intelligence field in recent years. Now, only have we been able to develop Artificial Intelligence technology that can be effective in doing multiple tasks, but we were also able to find its commercial usage as well. This has only resulted in increasing the popularity and the integration of Artificial Intelligence technology with businesses and brands across the globe.
One question that has been asked several times is whether the integration of Artificial Intelligence is really beneficial for commercial businesses and if yes, how?
Now, it is expected that there would be naysayers and deniers of the benefits of Artificial Intelligence technology in businesses, but what are the facts here. One of the most important things that a business and brand need to do in the 21st century to succeed in the ever-competitive market is to be customer-centric; that is not to say provide services and products that are useful to their customers, that is important but also invest in improving the customer's experience with the brand as well. And an AI can help a brand and business do just that by finding what your customers are into and providing products and services that might be relevant to their needs.
An AI not only just enhances the customer experience with the app or website, but it can also play a vital role in finding new avenues to grow the business well. How, so? Well, let us take TikTok as an example to prove this point.
TikTok is one of the most popular social media and video sharing apps in the world, and its rapid growth has left its competitors in the dust. And the main reason for its success is the successful integration of Artificial Intelligence technology that has an aggressive data collection mechanism, enabling it to create a virtual profile of every user on its platform. The Artificial Intelligence technology behind the TikTok algorithm is ever-evolving and continually improving to be able to suggest better content to its user, and for that, TikTok collects loads and loads of data pointers from its users. These data pointers can be used, not only by TikTok but third parties as well, to create targeted ad campaigns to TikTok users.
This is not a new concept; Amazon, Facebook, YouTube, etc., have been doing this for quite a while. Collecting data pointers on their users, creating a virtual profile to better target ads. And if you are a business owner or are planning to start your own brand, you can utilize these data collected by AI better to manage your product, service and target area. Not only this, if your products are not performing well anymore, by using Artificial Intelligence technology, you can easily find the reason behind the same and act on it before it is too late for your business. AI platforms provide a significate bump and are a boon for businesses that are looking to grow, and not just in the online market.