Artificial intelligence is changing the way we do business. The world is swiftly progressing, with major industries embracing this new approach to data collection and analysis. Organizations across various verticals including education, finance, media, insurance, communication and many others are looking to adapt more unique ways of understanding their audience which will help increase their visibility, in turn helping generate more revenue.
Analyzing millions of data points and deriving conclusions is a tedious task. The E-commerce industry in particular have to look into several variables. AI-powered solutions help address challenges in any given business setup, with tools created to respond to customer queries round-the-clock. AI and machine learning algorithms can effectively categorize various types of data and analyze them in a short span of time.
The geo-economy is a good indicator of the peculiarities of any market, nevertheless it needs to be combined with other variables such as age groups, gender, purchasing power, correlated products or services so as to define consumers’ behavior.
This is the era of collaborative consumption, wherein consumers can obtain and provide all sorts of resources. Those consumers who are a part of a sharing economy which is increasingly based on performance and results. The Gartner Report – 2018, predicted that 80 per cent of online buyers have been exposed to AI driven solutions. However, since the outbreak of COVID-19 has massively affected economies globally, over 90% have adopted AI driven solutions and advance technology. Several industries, particularly F&B have developed robots that can perform routine tasks, requiring zero to minimal human interaction. Companies like Amazon and UPS will be introducing delivery drones to reduce the need for human workers. AI-powered solutions have also seen a massive boost in conjunction with various digitization processes including supply chains, customer channels and employee collaborations.
AI solutions will improve personalized customer service, sales processes and support. The various tools available can help analyze all data accurately and transparently, thus increasing customer satisfaction, minimizing human error, whilst reducing direct and non-direct costs. An expected increase in profit by 65 per cent is estimated in times to come by looking at the ArabClicks E-commerce ecosystem.
We, at ArabClicks, have recently launched OfferBox an Innovative AI-powered solution that provides tailored recommendations (multi variables mapping) to maximize earning for anyone willing to make an extra salary. Offers are uniquely picked for each user based on past performance, individual and comparative behavior, and preferences.
Social media has increasingly become a popular platform for users to share about their experiences. Brands have great consideration of this type of organic content and are willing to pay for it. OfferBox will help improve your success rate and monetization content by an estimated 80 per cent.
The Sharing Economy has equipped individuals to think out of the box, to adapt and rely less on full time jobs and permanent positions. We are in the middle of the Industry 4.0 and we need to learn how to take advantage of it.