If you have ever wondered what it would be like to make business decisions with unerring accuracy, you should know that day is already here.  Artificial intelligence (AI) applications like natural language processing and machine learning have made businesses much smarter. Today, your business can innovate faster and better with the capabilities that these AI applications provide.

The world is increasingly getting smarter, and your business can too. If you’re not entirely sure what advantages machine learning and artificial intelligence will provide to your business, that’s okay.  i3solutions will explain all you need to know about these concepts and how they can help you take your business into the next generation.

If you have paid any attention to the news in the past few years, you’ll have noticed that AI has been doing the rounds. There is an increased interest in training computers that can think and act like humans, all in a quest to make human jobs easier and our lives better.

Machine learning and natural language processing are important components of this work. The point with machine learning is to try and teach machines how to accomplish tasks without human supervision. It does this using a variety of statistical methods and algorithms that help computers process data and make intelligent predictions.

Natural language processing (NLP) is a subset of machine learning that teaches computers how to understand human language and learn from it. That’s a big deal.

Human interaction is the driving force of most businesses. By teaching computers how to understand human language, businesses can use the superior analytical abilities of computers to make intelligent decisions. As a human, you may speak and write in English, German or Italian. But computers only speak one basic language, known as machine code, and it is basically gibberish to most people.
NLP bridges the gap between both languages. It helps us take normal human speech commands and derive insights from them. Even better, NLP allows businesses to make use of the mountains of data that come from everyday use of applications and processes. This data, called unstructured data, can potentially deliver insights on a level that can almost be described as omniscient.

These days, the gains of machine learning and NLP are everywhere around us and increasing rapidly. Although you may have heard about IBM’s Watson that has gained popularity as a doctor, talent scout and world class “Jeopardy!” player, there’s much more to the gains. Today, you can say “Alexa, I like that song,” and your intelligent assistant will add the song as a favorite. More than that, the assistant will play that song and others like it when next you ask for music.

Seemingly, little things like spam detection, spell check and the accuracy of a Google search are only possible due to NLP. And that’s not even the best of it. With machine learning and NLP, you can now realistically “growth hack” your business.

Through NLP powered tools, businesses can overhaul their systems and processes for greater efficiency and ultimately higher revenues. Here are some of the ways they can achieve this:

Cut the supply curve and increase productivity: For most businesses, increased productivity is central to growth. But it can often be hard to do this, especially when the business has to deal with large supply lines and a massive operation. NLP and machine learning tools can be built to control supply lines and efficiently allocate resources.

Optimize internal operations: A company’s internal processes will often take up a large amount of company time. Surely, all that time spent responding to administrative requests, filling forms and searching for files can be spent doing something more productive. Using NLP, your business can develop applications that use voice search to call up needed files and metrics. Many businesses are already using chatbots that answer HR queries. Your HR no longer needs to spend valuable time answering questions like “how much vacation time do I have left?”

Market intelligence: With AI, businesses can get an accurate feel for what their customers are thinking. One NLP application that does this is sentiment analysis, also called opinion mining. It can scour the internet for mentions about your company or product and communicate exactly what consumers feel about you. Other tools can help your business analyze unstructured data from your website or other platforms. These provide high-level insights into market trends and can help shape key business decisions.

Sales funnel: Even your sales funnel can benefit from machine learning and NLP. The AI can be trained to recognize certain keywords that indicate a willing customer as against a cold lead. This will help your business focus more on the leads that are more likely to convert. And you can do this with an accuracy that only machine learning can provide.

There are several other aspects of business that AI and machine learning will provide significant advantages. Sophisticated NLP tools can help your business refine your customer engagement and service process. You can analyze customer responses at a high level that shows broad trends and a more accurate measure of what action points to take. Companies in the banking and insurance sector are already using machine learning for risk analysis. They can understand a customer’s credit worthiness by analyzing unstructured data in unique ways.

There are also significant benefits for AI-powered recruitment processes. NLP is already being used by recruiters to scan and sort CVs for the most preferred candidates. Unlike processes that don’t look for certain keywords like “sales expert,” NLP can do better by anticipating connected but unanticipated words like “growth hacker.”

The possibilities provided by AI and machine learning are simply overwhelming. With the increasing capabilities made possible by these processes, all your company need do is visualize a need and let an expert team turn it into reality.

How i3solutions helps you innovate faster and more efficiently

At i3solutions, we have helped businesses and government agencies leverage the powerful tools that can be created with machine learning. We have been pioneering the use of NLP, machine learning and AI with our customers to build advanced solutions that help find deeper insights.

Our intelligent solutions anticipate our clients’ needs, and can effortlessly adapt to changing future needs. For over two decades, we have served our clients well, committed to providing solutions that are intelligent, innovative and integrative. Reach out to us to start a conversation about using AI and machine learning to take your business to the next level.