AI and Machine Learing is used in many fields for day to day application, making our lives easier than before. The world of Business is one such field where Artificial Intelligence is widely used.
- AI can help any business in three fields: automating business processes, gaining insight through data analysis, and engaging with customers and employees.
Chat Support - Real time
One of the earliest forms of automation are chatbots, which have bridged the communication gap between people and technology by allowing people to essentially converse with machines that can then take actions based on the requests or requirements voiced by humans.
- Early generations of chatbots followed scripted rules that told the bots what actions to take based on keywords.
Machine learning's capacity to understand patterns -- and to instantly see anomalies that fall outside those patterns -- makes it a valuable tool for detecting fraudulent activity.
- In fact, financial institutions have been using machine learning in this area successfully for years.
Billing and Invoice
With all the businesses come financial responsibilities. It can be imagined that companies might often have bills, payment checks and invoices exchanged with others. These accounting and financial processes could turn out to be very burdensome, if handled manually.
- Also, there might be calculation mistakes that could lead to terrible losses. Artificial Intelligence has made financial management very easy and accurate by automating the process