Hopefully you didn't make a bet on that. AI is expected to create an estimated $2.6 trillion in value for sales by 2020.
The question is, how can you take advantage of AI to get a better ROI in your business? You can't do that without knowing what the current AI trends are.
Keep reading to learn five of the trends in 2019 that you need to keep up with.
1. Voice-Enabled AssistantsYou've probably heard of Alexa and Google Home. They're the little devices you put in your home that can set timers and answer your questions.
But did you know you can also use them to order products?
The AI in these devices provides consumers a quick and easy way to order what they need online. Voice searches will continue to become more significant in the future. You need to optimize your business to take advantage of this trend.
2. More PersonalizationHave you ever taken a look at all the data a company has on you? You'd be surprised about how much information they have.
Because of this data, companies now have a way to create more personalized experiences for their customers.
AI is giving us the means to use this data to create more streamlined ad campaigns that provide better targetting for products.
3. AI Chat BotsIf you've ever opened a customer support chat on Amazon, you've seen an AI chatbot in action. These bots are the first line in customer support that can often take care of issues before a customer talks to a real person.
It doesn't stop with Amazon. 80% of companies want to use AI chatbots to help their businesses by 2020.
AI chatbots are creating a better experience for customers by giving them the answers they need immediately without waiting for the next customer support agent.
Not only that, they are reducing staffing costs. You don't need a large staff if most of your customer issues get resolved by a bot.
4. Automate the Tedious WorkHow much time does a salesperson spend digging through data to find prospects and identifying market trends?
You can automate much of this with AI. With all the data now available online, AI can be used to analyze it to find trends for you. This automation allows you to spend your time on the things that matter.
5. Better ForecastingOne of the hardest parts of running a business is predicting how you're going to do during the next quarter. Your predictions will inform your decisions over the next few months.
With AI, forecasting is much easier. It can better predict a company's revenue so you can make better choices during the next quarter.
With the help of AI, sales people can keep a record of sales data including won and lost deals in the past and based on that data it will be quiet easy to judge how to increase sales in the near future. By using the data the lost sales will decrease up to 50% as it will be easy to judge the reason behind lost leads and how to avoid those mistakes in the future.
Make Sure to Follow These AI TrendsTechnology has changed things a lot over the last decade, but the recent AI advancements are changing things even more. These AI trends prove that the way we sell to our customers will be far different in the future.
Are you trying to figure out how you can use your data to take advantage of AI? Contact us to learn how we can help!
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