How to Sell with AI?

aicra — Wed, 05 Oct 2022 09:59:30 +0000

Among the many industries that have changed dramatically due to the rapid technological development over the last few decades, the most benefited was the retail industry. The growing interest in online shopping has provided both sellers and buyers with previously unseen conveniences.

Further developments are primarily aimed at making the purchasing process more intuitive and simpler. Retailers have realized that simplifying the user and customer experience leads to higher sales.

However, making the selling process simple and intuitive is important as making the customers’ lives easier. Essentially, these are two sides of the same coin, and both can be significantly improved with the right technology. We’ve recently discovered, that there is no better technology for this purpose than artificial intelligence (AI).

How does AI help sales professionals?

AI is not a new concept, and its definition has evolved significantly over time. Today, we routinely use it in a variety of everyday devices and appliances, often without even realizing it, even though the general public may still imagine evil robots taking over the world whenever AI is mentioned.

Naturally, this does not mean that there are no risks involved with the misuse of AI, especially given how difficult it is to predict how this technology will evolve in the future. However, the benefits of AI are so widespread and valuable in so many industries that we can confidently state that it is here to stay. And, obviously, its effectiveness extends beyond the scope of business to assist us with issues that we all find critical, such as healthcare and education, weather forecasting, disaster response, and many others.

We frequently hear that data is the “most valuable asset” in today’s world. This is also true for retailers and salespeople – obtaining reliable customer data is critical to their success. However, given the amount of data uploaded every day (2.5 quintillion bytes per day in 2018 and expected to grow to 463 exabytes in 2025), simply having billions of divergent data points is of little use to any business.

This is where artificial intelligence’s processing power comes into play. AI can sort through this data, organize it, and put it to use. By analysing the data generated, vendors can learn more about their customers, prospects, and the market in general. This can help with lead generation, pipeline monitoring, sales forecasting, real-time marketing, and customer communication, to name a few advantages.

AI’s ability to act on interpreted data also helps in the automation of tasks and workflows, increasing productivity. Furthermore, it speeds up and smooths communication within the organization. Finally, it can perform numerous repetitive and tiresome tasks that were previously performed by human representatives in a reliable and error-free manner.

How is AI taking over sales?

When we say that AI is “taking over” sales, we don’t mean that it’s coming to take our jobs or that sales reps will soon become obsolete. Because it is taking over, it will become an absolute necessity for retailers if they want to stay afloat.

Simply put, salespeople who use AI will gain an advantage over their competitors that will be difficult to compensate for. Using AI methods to collect and analyze data is the best way to get to know your customers.

Furthermore, it is becoming increasingly important for businesses to be available to their customers at all times and through multiple channels. Immediacy is critical here; if you are not present when a customer is considering purchasing something, you may lose money. As many as 64% of customers expect brands to respond and interact with them in real-time. This is why chatbots are so useful: they can intervene at any time and provide assistance.

Overall, AI will not “take over” in the sense that the sales process will be completely automated, with no human involvement. Not anytime soon, at any rate. However, it will undoubtedly become a necessary tool for sales departments and human sales representatives.

All-inclusive

AI is a highly effective and promising technology that has yet to reach its full potential. It’s widely used in sales for the benefit of both buyers and sellers, and its greatest advantage is that it provides businesses with incredibly valuable insights about their customers.

As a result, the current generation of retailers may know more about their customers than any previous generation. Now that they know what their customers are all about, they can put the “customer first” philosophy into action. And by doing so, they will benefit themselves as well as their business.

Of course, such powerful technology can be misused and exploited, but we have the opportunity to put it to good use and benefit all of us. Now it’s up to companies to decide.

Global Artificial Intelligence Summit & Awards

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What Are The Uses Of AI In Medical Devices?

aicra — Fri, 16 Sep 2022 09:14:10 +0000

Artificial intelligence (AI) is a powerful and constantly evolving technology with the potential to improve capabilities in a wide range of industries. Medical devices with artificial intelligence have the potential to transform the healthcare industry by assisting medical professionals in more accurately and effectively diagnosing and treating their patients, as well as improving their overall care. Along with its benefits, medical device artificial intelligence faces challenges, such as the need for regulation to keep up with the rapid advancement of technology.

What is Artificial Intelligence in healthcare?

In the health care industry, AI-based medical devices could:

Automate tasks, synthesize data from multiple sources, and pinpoint trends
Process and analyze information from wearable sensors and identify disease or the onset of medical conditions
Predict which patients are at an increased risk for disease, complications, or negative outcomes based on their medical records
Support research by evaluating large amounts of data and monitoring treatment efficacy

Trends in Medical Devices with Artificial Intelligence

As technology advances, medical device companies are developing AI medical devices that serve three main functions:

Chronic disease management

Artificial intelligence-powered medical devices could monitor patients and deliver treatment or medication as needed. Diabetes patients, for example, could wear sensors to monitor their blood sugar levels and administer insulin to regulate them.

Medical imaging

Companies are developing artificial intelligence-powered medical devices to improve image quality and clarity in medical imaging. These devices would also reduce a patient’s radiation exposure.

Internet of Things (IoT)

The Internet of Things (IoT) for medical devices is a network of wireless, interconnected, and linked digital devices used by medical professionals to manage data, keep patients informed, cut costs, monitor patients, and work more effectively and efficiently. Companies are collaborating with medical devices equipped with artificial intelligence to improve patient outcomes.

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