Page 43 - Payout Magazine Online Volume 9.1
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information from large swathes of data and turn this sounds like standard procedure, customers
it into actionable strategies. also report that they feel less harassed by
the company. Instead of dealing with several
An example of AI technology currently phone calls with a live stressed out human,
accessible to organizations include chatbots they receive only one automated but friendly
which help a business reach more customers reminder at a time which suits their schedule.
without significantly adding to their staff
overheads. An AI bot presents an interactive Artificial intelligence has shown impressive
conversational interface that traditional web- results with debt collection and has improved
based forms are unable to duplicate. the lives of both staff and customers caught
up in the process. Hopefully, the results will
How AI can Help Locate the Best make corporations more comfortable with
People for the Job incorporating AI into the organization and
remove some of the uncertainty about using AI
Every organization, from small business in industry.
owners to global corporations could do with a
hand at processing job applications to quickly AI Will Enhance Online Security
separate the wheat from the chaff. Human level
processing requires hours of perusing resumes The deep learning capabilities of future AI
and completing online searches, tasks which platforms will enable businesses to provide
can be achieved in a matter of seconds by AI enhanced online security for their clients.
software. Humans have proven themselves inadequate
at implementing measures to protect against
Of course, final decisions will still come new threats, but with AI’s near limitless data
down to a face-to-face interview, but the capacity and ability to react to threats in real-
preliminary investigation, when handled by AI, time, it may be able to maintain an edge over
will make filtering out unsuitable candidates cybercriminals.
more efficient.
AI in the Financial Sector
How The Retail Sector is Embracing
AI Making a profitable trade on the stock
exchange is usually the result of hours of
It’s a common sight when making a purchase research revealing possible future trading
online to see a quick advertisement pop up decisions likely to be made by the rest of the
showing related products or the items which market. Artificial intelligence will have a higher
other customers have bought with these shoes, capacity for recognizing patterns and be able
shirts, pants, games console, or what have you. to react in a fraction of a time it takes a human
to make an analytical decision.
The above is a prime example of AI at work
which most online shoppers have embraced AI is already making inroads into the
with enthusiasm. AI is working quietly behind finance sector, with quite a few hedge funds
the scenes, analyzing your shopping habits incorporating the technology into their
the algorithm then uses to make an “educated management strategy.
guess” about what to recommend to you –
improving the shopping experience and the New Skill Sets Will Be Required
retailer’s bottom line in the process.
Every new era of technological advancement
How AI is Influencing Debt Collection requires the acquisition of new skill sets for
development and maintenance and the mindset
AI is increasingly used to automate the to deal with problems which the technology of
debt collection. Staff responsible for collecting today has so far not been able to solve. It’s
outstanding payments always report that it is crucial that all levels of business recognize not
one of the most stressful parts of their day. just the competitive advantages AI can provide,
but also the enormous challenges that are
AI removes the human element and takes ahead of them.
over the role of sending emails, texts, and calling
customers with pre-recorded messages. While
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