Today, there are numerous artificial intelligence applications in the consumer and business spaces. Almost all industry verticals are utilizing AI to improve processes and operations. The pandemic situation has forced organizations to look for definitive solutions to augment their work.
Artificial intelligence enables businesses to achieve more with less. Organizations are continuously looking for robust, sophisticated solutions to streamline and improve operational tasks.
Many technologies reside under AI. Machine learning, deep learning, knowledge reasoning, computer vision, cognitive computing, artificial general intelligence, natural language processing (NLP), and robotics are the myriad artificial intelligence branches.
Various Ways AI is Incorporated for Efficient Business Processes:
Retail and CRP
Many websites now have chatbots that aid sales and customer support representatives. Chatbots have advanced from their simple avatar of responding to specific commands and words to handling more complex queries.
Chatbots use machine learning algorithms, deep learning, and artificial intelligence to provide the best response by using a language interface. They use the interactions to become more intuitive with constant engagement and progressively even anticipate and customize the context answers. These chatbots can readily assist customers by extracting information from the website and redirecting them to the appropriate web page or representative for further support.
As cyber-attacks increase in frequency and more devious tools are used to breach cyber defenses, human intervention isn't cutting it. Many large companies across the world are investing heavily in cybersecurity for data protection. Stats show that the cybersecurity market will grow to $248.26 billion by 2023.
Real-time threat detection, mitigation, and prevention are needed to secure businesses. Using machine learning algorithms, IT experts can teach the AI solution to monitor behavior, detect anomalies, adapt and respond to threats, and issue alerts. AI has quickly become crucial in a business' cybersecurity infrastructure, providing a multi-layered security strategy that is sophisticated and reliable.
Many banks use various AI applications to detect fraudulent activity. The AI software scours a copious amount of sample data to detect fraudulent purchases, anomalies, etc. It is used as a pre-emptive measure to cut down any cyber threats related to stealing data. It helps to identify fraud, detect anti-money laundering patterns and make customer recommendations.
AI can also help predict future outcomes and trends for financial institutions.
Benefits of Using AI in Business:
AI technology manages vast data to extract information that will enhance or transform operations effectively. Technologies that leverage AI can analyze and mimic human behavior by identifying and simulating the same behavioral patterns. Over time, it can make its own decisions based on learnings and observations which is the primary benefit of using AI.
Improve Customer Communications and Save Costs
AI chatbots allow companies to provide 24/7 customer support by automating customer interactions, giving a better experience. The latest natural language processing improvements allow "bots" to pick up conversation nuances and better mimic human speech.
For small businesses that don't have the budget or the human resources to have a dedicated customer service team, AI-powered chat can fill customer service gaps.
Brand and Personalisation
Companies need to figure out individual consumer journeys, boost engagement and drive sales to deliver a custom experience. Personalization requires the ability to anticipate each customer’s unique needs. This is a tremendous task that AI can do.
Brands use data from previous purchases and social media activity to predict the type of products consumers will likely purchase. These allow the company to deliver tailored content and messages to those customers.
Artificial intelligence can fully automate this process, identify decision-making patterns, craft personas based on these, and then offer a range of suitable products for each persona.
Streamline the Hiring Process
Another area where artificial intelligence can increase efficiency is in the recruiting process. Through automated screening of applications, AI hastens the candidate interviewing process. AI also eliminates human bias from preliminary screenings, which is good news for workplace diversity.
In competitive fields with tiny talent pools, this technology reduces the time to fill open roles by analyzing candidate applications faster than humans. AI gives companies an edge in the recruitment process by being cost-efficient.
Higher Forecasting Accuracy
One of the best benefits of AI is that it reduces human error. One of the processes essential to business success is forecasting cash flow. AI technology can help in accurate revenue forecasting for better business decisions.
20 Best AI Apps For Your Business Toolkit This Year
Let's now look at some of the best AI apps you can incorporate for better decisions. Here we will go through what each Ai product does, how to use them, and the pricing options.
1. HubSpot Sales Hub
Hubspot Sales Hub is a powerful sales CRM software that helps teams close deals, deepen relationships, and manage their pipeline more effectively on a single platform.
- Usage: Sales teams can engage better with potential prospects, with features like Sales Automation, Meeting Scheduler, and Live Chat.
- Price: Free version is available. The paid versions come with more features.
2. Salesforce Einstein
Built into the Salesforce Platform, Einstein is a layer of artificial intelligence that predicts outcomes and delivers recommendations based on unique business processes and customer data.
- Usage: For teams already using SalesForce, Einstein provides extra features like Lead Scoring, forecasting, and Email Insights. All contained within one application—ideal for giving users better insights into the business.
- Price: 30-day free trial and then starting at 25$ per month.
Fireflies.ai is a robust AI-based productivity tool that automatically records, transcribes, and allows effective collaboration from any web conferencing platform. It can create real-time transcripts from live or recorded audio/video meetings with additional actions like adding comments and marking crucial moments.
- Usage: Information can be lost during meetings, causing a communication disruption. Fireflies.ai solves that issue by ensuring the information is stored for later use. It is ideal for any organization or individual that needs their meeting minutes transcribed, organized, and shared laterally.
- Price: Fireflies offers a free plan with basic features and can be upgraded to premium plans starting at $10 per month per user.
4. Microsoft Azure Machine Learning Studio
The Azure Machine Learning service equips developers and data scientists with productive experiences for building, training, and deploying machine learning models faster.
- Usage: Allows developers to deploy models at scale without much training requirement. It supports open-source frameworks and languages; is a great platform for quickly developing test models for potential consideration.
- Price: Free version is available with various extended pricing options.
5. IBM Watson Assistant
IBM Watson Assistant is a set of tools to build, train, and deploy conversational interactions into any application, device, and channel.
- Usage: Allows users to construct and train chatbots or AI assistants to help with customer interactions. It can be implemented in many CRM and sales departments to enhance the customer experience significantly.
- Price: Free version available with premium plan upgrades.
6. Amy by X.ai
Connecting calendars, x.ai can instantly review availability and preferences to find ideal meeting times. It automates the most tedious scheduling tasks of finding compatible times to meet with large groups, sends follow-ups and reminders, and manages cancellations and reschedule requests.
- Usage: A cloud-based meeting scheduling system. Enables small to large businesses with live user onboarding, conference room booking, calendaring, and team management. It can also integrate with various other productivity tools, further enhancing its capabilities.
- Price: A free trial is available, and a starting price of 8$ per user per month.
Powered by AI, Timely is a time tracking software. It is an ideal app for remote teams. It is helpful in keeping track of the work hours of remote workers scattered across the world.
- Usage: Automatically records billable hours of employees or freelancers regardless of the size of the organization. Organizes work in intelligent timelines and uses dashboards for proactive decision-making.
- Price: 14-day free trial. Plans start at 14$ per user per month.
Frase's AI-powered tools identify the target audience's queries, quickly create and optimize content capable of answering those questions, help in navigation and provide answers to curious or confused site visitors.
- Usage: Marketing agencies, content marketers, content strategists, SEO specialists, and growth marketers can optimize and streamline content publication. The AI chatbot uses website content to answer visitors’ questions.
- Price: It starts at $39.99 per month.
Textmetrics is an AI-powered content platform that helps businesses create, translate, and monitor content to improve corporate communication.
- Usage: Content Marketers and writers can get adaptive feedback on the web content produced, resulting in more clarity and better reception. They can get insights into the content on their platform to fine-tune and modify their outgoing communications.
- Price: 7-day free trial, price based on request.
10. Grammarly Business
Grammarly Business offers detailed, real-time suggestions to improve word choice, refine tone, structure better sentences, and fix grammatical errors in your emails, articles, or more.
- Usage: Content Creators and writers can improve the content fidelity according to tone and language and grammatically correct content across the board. It also prevents content stagnation with its inbuilt plagiarism checker.
- Price: Free version available with premium plan starting at $11.66 per month.
Zoominfo is an AI-based B2B intelligence enhancing platform with features like territory planning, lead scoring, sales prospecting, targeted outreach, and more.
- Usage: Sales and marketing teams can receive much better insights into prospects, leads, marketing funnels, and candidate screening. Very useful when conducting business analysis across various departments.
- Price: Free trial available, pricing by request.
Beautiful.ai is an AI-based image creation platform that automatically uses the content provided to create compelling presentations, pitch decks, or slideshows.
- Usage: Allows everyone, regardless of experience, to create infographic presentations without manually fine-tuning every small hitch.
- Price: Free version available with the premium version starting from $12 per month.
Krisp is a noise cancellation app that automatically reduces background noise in video calls or conferences. It works on most video conferencing apps and collaboration tools.
- Usage: Ideal for remote teams that frequent video calls. This app facilitates holding video calls sans audio and outside disturbances.
- Price: Free version available, the premium version starts from $5 per month per user.
Trevor.ai program connects your task lists with your calendar, which then figures out the best times to schedule those tasks.
- Usage: It is excellent for home workers and remote teams to keep track of their upcoming tasks and tackle them at the right times. It is a scheduling software that works along with commonly used apps like Google Calendar.
- Price: Free version available.
Spoke is an AI-based service desk equipped to handle almost all HR-related queries, sales requests, and any other work-related help required.
- Usage: Great for augmenting internal support teams with automation processes. If you find yourself overwhelmed with queries in various departments, implementing Spoke can reduce your team’s strain in dealing with this.
- Price: It starts at $5 per month per user.
Intercom is a Conversational Relationship Platform. It shows you who uses your product or website and makes it easy to personally communicate with targeted content, convey behavior-driven messages, and give conversational support.
- Usage: It allows sales, product, and marketing teams to see who their customers are and what they do and provide conversational marketing, engagement, and support.
- Price: It starts at $39 per month for small businesses, $499 for midsize companies.
Brain.fm is a unique AI-powered platform that streams music most suited to boosting your productivity.
- Usage: An excellent tool for remote teams or home workers who may have many distractions in their work environment. The music is scientifically crafted to improve focus. Music is sometimes the best answer to productivity issues, especially in remote teams.
- Price: 3-day free trial. It starts at $7 per month for one user.
Clara is an AI-powered scheduling assistant that uses NLP and ML to respond to emails and schedule meetings automatically.
- Usage: It is ideal for recruiters and HR teams to schedule and conduct remote interviews and provide a seamless candidate experience. AI-based recruiting is useful for screening a large number of candidates quickly.
- Price: It starts at $99 per month per user.
YVA.ai is a smart AI-powered employee feedback system designed to identify and pinpoint employee issues and gather feedback.
- Usage: An excellent tool to manage remote teams. Boosting productivity in remote working can be challenging, so having a response system that can help tackle the issues is very useful. It is quite challenging to know the underlying problems, having a feedback system that allows you to understand what you can do to improve is vital.
- Price: Three-month free trial. Contact vendor for pricing options.
Fyle is an AI-powered expense management platform. It can automatically parse receipts and track employee reimbursement and mileage use.
- Usage: It can be used to track expenses incurred during travel for company business. It is also useful for accounting teams as it speeds up the reimbursement process.
- Price: Contact vendor for pricing options.
Start Using These Apps Today
Wider adoption of remote working means, organizations need to adapt to this new work environment. The inclusion of AI-based tools and platforms can be very beneficial for businesses as they offer unique and distinct solutions that are hard to find in traditional applications.
Featured Image Illustration by Freepik Storyset