30-09-2022
Artificial intelligence (AI) and data science are booming fields from which companies can derive substantial value. However, for many, the exact scope of these areas remains unclear. AI is a vast domain encompassing technologies based on human intelligence, while data science involves the methods, processes, and systems that extract knowledge and insights from data. Within AI and data science, the relevance of various topics differs significantly for businesses. In this article, we will explore three applications of AI and data science that highlight their added value in the corporate world.
Customer Analytics
At the heart of every business is the customer, and a critical question is: who are your customers? To answer this question effectively, companies must conduct in-depth analyses of their customers. This task can be time-consuming and complex due to the numerous factors that contribute to building a customer profile. However, AI and data science have made this process more accessible. By collecting and analyzing data on existing customers, companies can identify patterns and create detailed customer profiles. These new insights enable businesses to operate in a more customer-centric manner.
Customer Service
Providing service to customers is a vital aspect of business operations. Assisting customers—both before and after a product purchase—is essential, but it can also be time-consuming. Many companies now use chatbots to alleviate this burden. Chatbots allow customers to engage in conversations and receive answers to their questions, replacing the need for a human representative. The AI application behind this is Natural Language Processing (NLP), which enables systems to read, "understand," and respond to text-based queries. Implementing chatbots benefits companies (by reducing customer service costs) and customers (by offering faster responses to inquiries).
Quality Control
Another application of AI and data science is in quality control. It is crucial to monitor the quality of products or services and to take timely action if the desired standard is not met. Physical products are the most obvious example, but the concept can be applied to nearly any product or service. Using sensors, cameras, and AI to analyze the data, businesses can make informed conclusions about quality and notify staff when corrective actions are needed. AI helps companies optimize production processes and enhance efficiency.
It is clear that AI and data science can be applied in many ways. Few companies stand to miss out on the benefits of these technologies. Interested in learning more about what Student Consultant can offer in the realm of AI and data science? Feel free to contact us.
This article was written by Luca Pamboer. For further inquiries regarding the content of this article, you may contact him directly at luca.pamboer@student-consultant.nl.