Companions to Marketing & Customer Segmentation
All customers are now well-aware of the fact that we follow them on their journey through our websites. We want to see what they did; we want to look at their choices when faced with a decision branch; what attracted them; what did they avoid; what convinced them to make a purchase; and, more importantly, what caused them to leave.
Up until now, we have used KPIs (Key Performance Indicators) to help us figure that out. One of the oldest, yet still most popular, is the NPS (Net Promoter Score) system developed
Artificial Intelligence (AI) tools for the Financial Technology (FinTech) sector, and all areas of Banking, are getting quite abundant—overwhelming, in fact. Interestingly, as it turns out, a lot of it is hyperbole. They are not to be ignored or overlooked of course, since many are incredibly useful, and are vital for what they offer to the FinTech sector. We must select appropriate tools.
We need these new tools to be competitive, and our customers expect us to have them. They grant small, boutique style banks the same powers and capabilities as those of the centuries-old massive institutions. Naturally, there
Using AI and ML for Dynamic Pricing
A new look at retail & e-commerce strategies
Old-fashioned corporate espionage is almost passé compared to what we can do nowadays with simple information processing of data acquired from the Internet. Why go to the trouble of doing anything illegal when virtually everything you need to know is released to the public as a matter of course?
Artificial Intelligence (AI) and all its vital subcomponents, such as Machine Learning (ML) and Neural Net (NN) processing have allowed us to gather and sort data the instant it becomes available. And it’s just the
What is Artificial Intelligence?
AI is most often a computer program which is designed to duplicate intelligent thinking. Notice the word “duplicate” as opposed to “emulate.” At its current stage of development, although still primitive compared to the human brain, it has, in some particular situations, replicated human thought processes quite precisely.
How does any AI learn?
There are two methods by which an AI can learn—the most familiar of which is being programmed by humans. This was the case for IBM’s WATSON AI, designed for the single purpose of winning the TV game show Jeopardy!
We can meticulously define
Why is adoption speeding up?
It is a commonly held belief that Artificial Intelligence (AI) started with ELIZA. It’s not true. Despite the fact that it could (and did!) pass the Turing Test on many occasions, it was never designed to be an AI. Although this article is chockful of information that you need, it may be useful for you to take a couple of moments to use the ELIZA demo above to understand how it works. Since it is psychologist-based, try discussing a real or fictional personal problem with it.
Back already? Interesting, wasn’t it? As you can
Depending on who is saying the word operations, it can have significantly different meanings. From a management perspective, it includes controlling Quality Assurance (QA) programs, hiring & training, and process monitoring & maintenance, all while creating strategies to enhance efficiency and production.
“Operations” is the fulcrum upon which productivity and efficiency are balanced. A large part of that process is obtaining the required raw materials, turning it into goods, and then getting it out the door, on the way to the consumer.
If you think that is all there is to it, however, you’re forgetting about having people
Getting its foot-in-the-door
Salespeople are a different kettle of fish altogether when compared to your more conventional variety of office worker. They don’t like to be sitting in the office—they want to be out there and doing stuff—they’re the ones that sit in the front car of the roller coaster if they can ever force themselves to take some time away from their jobs. They’re the former class-presidents, junior civic leaders—the ones that walk right up to someone they don’t know, stick out their hand and say “Howdy, I’m Mike (or Jill). Isn’t it a great day today?”
From Raw Material to Finished Product
According to a 2017 survey of 835 companies, Artificial Intelligence (AI) has penetrated deeply into our everyday business activities. That is not much of a surprise for most of us since the subject continues to hold sway in reporting and gather interest from almost every news outlet.
It tells us, for example, that 44% of companies now use AI to detect intrusions and security breaches. Another 41% are using it to resolve our users’ IT problems with, among other things, amazingly human-like ChatBots. These are the sorts of things that people expect to see
Taking the drudgework out of HR
Using Artificial Intelligence (AI) properly will set you apart from “old-fashioned” manual companies. Candidates look upon sophisticated AI-driven HR as more efficient, progressive, and desirable than nostalgia-driven methodologies from the last century.
AI algorithms also remove language biases in advertising for positions so as not to disclude viable candidates through innate prejudices in wording choices. This unconscious bias can cause your company to overlook a great candidate, extending your search, and will end up increasing your costs while adding unnecessarily lost productivity.
Why AI Great for HR
Going “by our gut” is
Almost 62% of respondents in a 2017 business survey pointed to Artificial Intelligence (AI) and Machine Learning (ML) as the two most important factors that will set the tempo for business for the next decade and beyond.
Not to be outdone, Big Data and Business Analytics (BA) came in right behind at 58%. Don’t fret about the totals exceeding 100% since participants were asked to rank dozens of factors in order of importance, likelihood, or need, and choosing one thing does not preclude another.
AI is coming, and few are even thinking about applying the brakes. There are