“Do you also wish to use the outstanding capabilities of enterprise artificial intelligence for your business? If so, then this blog will provide you with everything you need to know.”

How often do you unlock your smartphone using the face recognition feature? It can detect your face and even identify the blinking of your eyes, but how quickly does it do this? Within a zeptosecond, correct?

Have you ever wondered how the face recognition feature got this accuracy? AI, or artificial intelligence, is the technology behind face recognition, which makes it accurate.

Do you also wish to use the outstanding capabilities of enterprise artificial intelligence for your business? If so, then this blog will be of great assistance to you.

Here in this blog, we will highlight the benefit of using enterprise AI for your business. But before that, let us make you familiar with enterprise artificial intelligence.

What Do You Mean by Enterprise Artificial Intelligence?

Enterprise AI refers to software solutions that bring intelligence to data collection and analysis processes in order to redefine the way businesses operate.

In layman’s terms, AI is the use of software technologies to create a system that can think like a human. It automates processes and improves the quality of work machines can deliver.

Let’s understand enterprise AI with an example:

Whenever you visit an eCommerce website or other website, you see a pop-up of a chatbot. Using a chatbot, customers can share their queries, and the chatbot by analyzing the data from all sources of the businesses and providing them with resolutions without human intervention.

Why Does Your Business Need Enterprise Artificial Intelligence?

The Markets and Markets report estimates that the global enterprise AI market was valued at USD 845.4 million in 2017 and will grow at a CAGR of 48.7% to USD 6,1414.5 million in 2022.

More and more businesses are identifying the need for enterprise artificial intelligence solutions. If you are also among them, then learning the following benefits of enterprise artificial intelligence will help you to make a more informed decision about whether you should invest in it or not:

Automation of Repetitive Tasks

Running a business is not an easy task to do. There are a variety of things that need to be taken care of such as customer support, finance, marketing, administration, etc. This task consumes most of the time, therefore it is best to have a solution that can automate repetitive tasks.

AI for business can allow you to do so. Artificial intelligence can automate repetitive tasks too without any human interventions. By doing so, the business owners have more time to focus on important tasks.

Personalized Customer Experience

Business success is heavily dependent on how satisfied customers the company can manage to make. One of the best ways to do so is by building a personalized customer experience by tracking the customer queries and concerns.

AI can track and analyze customer shopping patterns & behavior and automatically recommends the best product to the customers that will attract them most.

Cost Reduction and Profit Enhancement

As said, AI has the capabilities to bring automation to business processes and AI reduces the need for human employees. As a result of this business, expenses will be reduced, but operations will continue, as usual, resulting in better revenues.

When AI is integrated with smart sensors, it can even forecast the business machines’ maintenance needs, resulting in extended machine lifespan.

Improved Cybersecurity

What is the biggest threat to a business? For most of us, it is cyber attacks.

According to a report published in the Purplesec, on average every enterprise experiences nearly 130 cyberattacks every year in the USA. In the wake of an increasing number of cyberattacks, it is a must for enterprises to adopt the best practices to safeguard businesses from cyberattacks.

Artificial intelligence is one of the best solutions to keep your business security at the top. It can detect the sign of a cyberattacker and put an alert for security engineers to take strong actions to unsuccessful those attacks.

Generate Business Insights

Data plays an important role in the success of the business. However, it is useless if you don’t have any knowledge of how to use the data. AI has great capabilities when it comes to dealing with data. It can collect business data from multiple sources and analyze the data to lead businesses to make more informed decisions.

Reduces the Risk of Failure and Downtime

No matter which business you belong to, be it healthcare, retail, baking or any other AI is the perfect choice to mitigate the risk and downtime of the business.

Thanks to predictive maintenance, enhanced protection from cyberattacks, and increasing business operational efficiencies reduce the risk of failures and business downtime.

Identifying Market Trends

The market is changing at a rapid pace these days. As a result, businesses that want to compete in a highly volatile market must keep upgrading themselves to keep up with market trends.

AI (Artificial Intelligence) is helping businesses to stay informed about the latest market trends. Businesses can adopt these trends to increase the customer retention rate and ensure a successful business that never fails to impress its customers.

Turn Data into Actionable Information

Business requires a lot of data including the customer’s shopping patterns, customer age group, and a variety of other information to make decisions.

Enterprise artificial intelligence collects the data from multiple sources and presents it to the business in a human-readable format. By evaluating this information businesses make smart-decision to make sure their services cater to their customers in the best way.

Improved Business Operations Visibility

Companies that adopted artificial intelligence in their business have better control over their business processes. AI offers them better visibility over their business data and helps businesses with what’s going on in the organization.

If something happens that is beyond the business standards, then AI will immediately put an alert so suitable actions can be taken to ensure effective business operations.

Let’s Propel Your Business to Success With Enterprise Artificial Intelligence

As corporate needs and technological advancements change, enterprises are increasingly integrating enterprise artificial intelligence into their operations to gain competitive advantages and better efficiency in business operations.

If you are also considering benefiting from artificial intelligence, but are unsure how you can do so, then the best thing you can do is hire an AI development company.

AI development companies have extensive experience in developing AI solutions. They can develop a solution following your business needs. Having a customized AI solution will make sure your business best benefits from AI.

However, there are an overwhelming number of enterprise artificial intelligence development companies in the world. In the wake of this, it is a tough decision to choose one that can generate the best results for you.

If you are also driven by a similar challenge, then you can consider checking out ITfirm’s list of the top artificial intelligence companies. After thorough research, ITfirms presented a list of the best companies that leverage expertise in artificial intelligence technology and propel your business to success.

Frequently Asked Questions

Which industries can benefit from enterprise artificial intelligence?

Almost all industries can make use of AI technology to bring intelligence to their business process. Below we have mentioned a few of the industries as an example that can make use of AI:

• Healthcare
• Manufacturing
• Retail
• Transportation & logistics
• Finance
• Marketing
• Education
• Human Resource
• Supply Chain Management

What is the most common use case of enterprise AI?

Enterprise AI can be used for the following purposes:

• Automate customer support services
• The better way to generate leads
• Automate data analysis
• Improve the employee experience
• Detect the cyberattacks earlier before they make an impact on business operations.

The post What Benefits Enterprise Artificial Intelligence Can Deliver For Your Business? appeared first on Top ITFirms - Result of In-depth Research & Analysis.

The invention of blockchain is anonymous with the invention of the Internet in terms of importance; sensing a point-blank to be skeptical? What makes enterprises avid about it?

Satoshi Nakamoto would have never imagined that Bitcoin (an invention that he published in 2009), will become a controversial currency that is used around the streets for all sorts of nefarious black market activities bringing out the endless possibilities. But as someone aptly said, everything that you ever want is on the other side of the fear; people have looked beyond Bitcoin; at the forefront is the public ledger that records every Bitcoin transaction and is famously known as Blockchain.

Blockchain is the record-keeping technology behind Bitcoin. It is a brand new technology that offers new tools for authentication and authorization in the digital world that preclude the need for many centralized administrators like banking organizations, thus creating new digital relationships. In this space, we are trying to focus on the version of blockchain technology that is used for Bitcoin cryptocurrency.

Surrounding Salient Features to Crack Blockchain Code

• Blockchain, no matter how effective and scalable it is, but can never erase conventional money.
• Blockchain is not a giant distributed computer.
• Everything that is recorded into a blockchain will not remain forever.
• Bitcoin, or for that matter, Blockchain has become a prisoner of its own ideology. No one can actually stop people from excessive mining. That probably dramatically increases the probability of a single person controlling more than half of the remaining computing power, for as long as the network is stable. However, this might alter with any chances of change in the situation as the network may come across a huge number of “double spending” incidents.
• Blockchain-based autonomous business entities running via smart contract on the cloud could electronically contract with compliance entities like governments to self-register in any jurisdiction in which they want to operate.
• Blockchain is not indestructible due to its decentralized nature.
• Blockchain transactions are not anonymous. Every person involved can see everything. How much money we have, how much we gambled, which politician we supported, how I spent my money, how much I’m left with, no information actually remains private.

Top Enterprises in Blockchain Technology

(Illustrative list only)

• SAP Cloud Platform Blockchain
• Microsoft
• R3
• HPE R3
• BitSE
• CoinTelegraph
• Blocko
• Blockstream
• PayStand
• OpenLedger
• Peer Ledger
• Ripple
• Deloitte
• CoinDesk
• Blockchangers AS
• INNOVECS
• Altoros
• PixelPlex
• Techracers
• Chain
• ABES Lab

Why Enterprises need Blockchain?

For following few reasons:

Financial Industry

Financial enterprises have gained from Blockchain technology as it has affected fund transfers as well as clearing and settlement for securities, commodities, and derivatives. It has further eliminated the need for a centralized clearing authorization allowing for event-triggered smart contracts to settle trades. Blockchain benefits the financial industry as every transaction is immutable and recorded. In addition to this, as everything is publically visible, the asset lifecycle can be streamlined. With a little setup and initial cost that also involves an upfront investment of time and resources, there’s no question as to who owns what asset at any point in time.

Retail Space/ Supply Chain Management

Blockchain can improve user experience in retail space. The reason why it is important is that consumers have increasingly become concerned about ethically sourced products. They want to track their products and know all the points of contact. As they align their values with the goods they are purchasing, they wish to reassure that they receive exactly the same goods for which they were contracted for.

Data Governance

Effectiveness of Blockchain can be doubled with GDPR compliance. When the control of user’s data is back in user’s hands, it will be the only place where Blockchain will flourish.

Smart contracts

Out of the many use cases, with Blockchain businesses will redefine their payment systems, delivery and transportation of goods into smart contracts, which also includes maintenance.

Shared processes

Blockchain can actually improve back office processings, turning off existing siloes, making the process efficient and effective.

Identification

The United Nations (UN) is making use of Blockchain across 16 different agencies globally for humanitarian causes that also includes World Food Programs and refugee camps.

Microsoft and Accenture partnered together legally in a public-private partnership that will affect 1.1 billion people worldwide.

Food safety

As an example, IBM have partnered with food suppliers including Dole, Nestlé, and Walmart implement food safety using blockchain. This will essentially imply that all growers, suppliers, processors, distributors, retailers, regulators, and consumers, to allow then to gain permissioned access to information about the origin and state of food in their transactions, and as well ensure that food permitted on store shelf are removed before they reach their shelf life.

Disrupting business models

Blockchain has the potential to streamline various processes, reduce associated costs and frictions in terms of the creation of new forms of assets thus help in expanding company’s overall economic footprint.

Medical records

Blockchain could allow for each person to have a single, shared medical record with every doctor, diagnosis, and medication.

Digital rights access

Blockchain can help professionals track their intellectual property like Photographs etc. and ensure that people aren’t infringing copyright restrictions, he added.

Need to Think

If every node is capable of doing exactly the same thing, there are chances that obviously the bandwidth of the entire network is the same as the bandwidth of one network node.  The Bitcoin network is capable of processing a maximum of seven transactions per second, for the millions of users worldwide.

Besides that, blockchain based bitcoin transactions are recorded once every 10 minutes only. Considering the security of the payments, it is standard practice to wait 50 minutes more after each new record appears because the records regularly rollback. So in case you wish to buy a packet of snack using bitcoins, you won’t mind standing at the store line for an hour, right?

In Conclusion

Blockchain is a way to formalize new digital relationships and is posed to create the backbone of a layer of the internet for transactions and interactions of value (often called the ‘Internet of Value’ vs. ‘Internet of Information’ that makes use of client-servers and accounts and master copy databases past-present-future)

Enterprises need to understand the advantages of the Blockchain and work to understand the investment that is required to reach a level of competitive advantage. While it is easy for the early adopters to capture, track and secure the data (discovering the advantages of the Blockchain technologies, and revolutionizing their companies in the process), those who lag behind or take more time to experiment and analyze will find it even harder to catch up.

Top blockchain development companies should be prepared to invest in whatever off-chain tools are required to support blockchain systems and must recognize various processes as it involves multiple stakeholders within the organization.

The post Enterprises Handle Blockchain & Tackle Convention in One Go appeared first on Top ITFirms - Result of In-depth Research & Analysis.

Additionally, methods used to accomplish day-to-day business operations demand refinement. For improved results and enhanced efficiency, modern techniques are needed to be deployed. Monitoring of the applied procedures is crucial to ensure everything is on track and results are produced as intended. So, tracking the ongoing process can help in identifying the loop areas where the scope of refinement exists.

How apps for project management and business operations can levitate productivity

Improved internal systems

On a daily basis, an admin needs to take care of several tasks that impact day-today business. A slight lag or delay in any of the processes can hamper finances of the company big time. Therefore, the need for automated solutions in addition to improved dynamics arose.

Due to excessive work and lack in modern practices, often the operations get affected resulting in delays, miscommunication, errors and finally, the loss of funds.

Applications for internal systems can help in avoiding delays, uplifting communication within teams and automating several tasks that require least human interference. Better management leads to better outcomes.

Efficient monitoring

Internal procedures of an organization can be tracked efficiently by gathering and analyzing related data, which means areas for improvement, can be identified easily- that can be worked upon for improved and desired outcomes. The targets can be achieved quickly with minimum bugs.

The entire system gets streamlined with individuals fulfilling their sole responsibilities while managers supervising them to ensure they are on the right track. Hence, deadlines don’t get breached as final products get ready before time.

Reduced operational costs

Mismanagement leads to flaws and lags, which require revisions. These amendments aren’t done without putting in extra money.

Enterprise App development companies can help you bypass scenarios like these by assisting you in building apps that can remind you of your responsibilities, execute tasks automatically and eliminate unnecessary costs.

Improvement opportunities identified

As discussed above, internal system management apps can help you track procedures better, which not only aid in completing tasks before time but also in identifying areas of improvement. These areas can range from employee training to revision in applied practices to substituting existing staff with the new.

Apps managing internal systems and business operations will act as a boon to managers as identification of lags will only lead to better and efficient systems at work.

Deciding the future policies

Once the internal systems will upgrade, procedures will get rationalized and adequate workforce will be at your disposal; it would then be a cakewalk for you to excel from thereon.

Right steps lead to right destination and right usage of resources lead to success. Due to the correct implementation of things, new and better operational policies can be devised and deployed that will not only help departments to run smoothly but will impact the overall performance of the company.

Final words

Apps have made different verticals of society to work more effectively than they ever managed to do in the past. Streamlining the business routine is essential in today’s time because the workload is immense, business is customer-focused and most importantly, revenue generation has become tough.

Therefore, to satisfy clients and increase the productivity of the workforce, it’s necessary that modern techniques are put in place leveraging a calm state of mind to the personnel so that deliverables don’t get delayed and revenues don’t get hampered.

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