Artificial Intelligence (AI) is not only here to stay but also to transform, innovate, facilitate processes and, in short, to enhance and improve our work. According to the survey on the use of Information and Communication Technologies (ICT), AI is already present in 12.6% of Spanish companies and its universalisation is unstoppable. Therefore, in this article we will explore the different applications of artificial intelligence.
More and more companies are welcoming Conversational Artificial Intelligence with open arms, its different applications and benefits in a multitude of departments and management and production tasks. In fact, it is estimated that the impact of AI on Spain’s GDP in 2025 will be 16,500 million euros, taking into account its application in industry alone.
These figures are in line with the international context. And no wonder according to the McKinsey Global Institute forecast: Artificial Intelligence has the potential to generate between 3.5 and 5.8 trillion dollars in economic value annually for businesses worldwide, and customer service is one of the areas in which AI is expected to have a major impact.
Why is Artificial Intelligence key to business?
Today, AI is a great support for all types of businesses, including the most traditional ones.
Every company needs to manage huge amounts of data: sales, stock and logistics, customers, queries and suppliers… And, precisely, Artificial Intelligence helps us to process and manage this data more quickly, allowing us to optimise the work within each department and, therefore, optimise processes.
Such are the benefits that, according to the McKinsey Global Institute consultancy, Artificial Intelligence is expected to generate, over the next three years alone, around 2.6 trillion dollars by solving marketing, sales and logistics problems.
The most outstanding uses of Artificial Intelligence
On paper it all looks very nice and simple, but to optimise time, minimise costs and, therefore, increase profits thanks to the use of Artificial Intelligence, you have to know how to apply it well in your day-to-day work.
Therefore, in this article we break down some applications of Artificial Intelligence, which reflect how it can become your best ally at work, regardless of your sector. Are you interested? Read on.
Applications of Artificial Intelligence 1:📦 Artificial Intelligence in logistics
For a long time, logistics has followed a reactive role, limiting itself to changes in demand. However, thanks to the implementation of Artificial Intelligence in the logistics sector, companies have come to assume a proactive role in automating logistics and, consequently, adapting their action plans.
Another application of Artificial Intelligence that has allowed companies to gain efficiency in terms of cost and time is the implementation of AI in warehouses. In figures, on average, AI helps to reduce logistics costs by 15%, optimise inventory by 35% and improve the service provided by 65%.
And how to apply AI in logistics? Internally, AI makes it easier to notify staff of any important event and is an allied technology in operational processes, where the volume of data is very high, such as keeping inventories up to date, tracking trucks en route or communicating with the fleet at any time.
Regarding communication with customers, AI-enabled chatbots are used to report the status of an order in real time, resolve frequently asked questions, plan deliveries, share complaints or suggestions, as well as cancel or modify the delivery of an order. In addition to reducing costs, it increases customer satisfaction as they can resolve their queries quickly.
According to the latest McKinsey study, companies with a proactive AI strategy in the transport and logistics sector have a 5% higher margin than those without such a strategy.
Applications of Artificial Intelligence 2: 🏥 Artificial Intelligence in Healthcare
In recent years, the application of Artificial Intelligence in the healthcare sector has experienced exponential growth, especially after the outbreak of the pandemic caused by Covid-19.
With hospitals saturated, chatbots were a vital tool as they acted as a first communication filter, analysing the information sent by the patient through the chat and then transferring it to the doctor.
In recent years, the great advances of applying Artificial Intelligence in the healthcare sector have become evident, as in addition to medical care and resolving doubts remotely, they are capable of resolving a multitude of procedures such as guidance in diagnoses, scheduling medical appointments or pharmaceutical care.
McKinsey’s Telehealth: A quarter-trillion-dollar post-Covid-19 reality? report found that 40% of patients worldwide said they had used remote health services and intended to continue to do so in the future.
Applications of Artificial Intelligence 3: 🎓 Artificial Intelligence in Education
Artificial Intelligence applied to education has also become one of the most cost-effective technological tools.
The automation of repetitive tasks is one of the main advantages of using AI in the education sector. In this way, teachers can take advantage of the opportunity to spend more time preparing their classes or attending to their students.
Other applications of Artificial Intelligence in the education sector with a positive impact are personalised tutoring, as it is a virtual tool available 24 hours a day and from anywhere.
Chatbots are also used to help students find relevant information, answer frequently asked questions and provide guidance on courses, educational programmes and services of a student institution.
Colleges and universities are also benefiting from chatbots to automate administrative tasks such as student registration and timetable management.
Data collection and analysis has also been transformative for educational institutions. Schools can use Artificial Intelligence to process massive amounts of student data and analyse it in a matter of seconds in order to make better and more efficient decisions based on the information gathered.
In fact, implementing Big Data to make school dropout predictions has been an essential resource for tackling one of the most serious problems in education in Spain. The school dropout rate increased in 2022, reaching 14%. Thanks to Artificial Intelligence, it is possible to detect the problem in advance and provide solutions to prevent thousands of children in our country from dropping out of school.
Applications of Artificial Intelligence 4: 📈 Artificial Intelligence in banking, finance and fintech sector
Artificial Intelligence applied to financial services has transformed the banking sector as we know it. It is now practically unnecessary to physically go to the bank or the nearest branch to make a banking transaction. It is not even necessary to use the call centre to make an enquiry or request. It is increasingly common to implement virtual assistants powered by artificial intelligence in the banking and fintech sector, providing a self-service solution that facilitates and speeds up numerous procedures.
The implementation of intelligent messaging chatbots that provide immediate solutions has facilitated all these processes. From making transactions, to scheduling payments or monitoring account activity. All this and more is possible thanks to Artificial Intelligence.
Perhaps one of the most innovative applications is personalised financial advice to help individuals achieve their financial goals. These intelligent systems assess income, essential recurring expenses and spending habits, and with this information, develop an optimised plan.
Artificial Intelligence Applications 5: 🎧 Artificial Intelligence in Customer Service
Artificial Intelligence has also become an essential pillar in the customer service teams of companies as it drives efficiency and cost reduction, while meeting the needs of customers more efficiently.
One of the most prominent applications of Artificial Intelligence in Customer Service are intelligent chatbots, as they are able to respond to queries or questions by integrating with a company’s systems and databases. Examples of this are questions such as the status of an order, account balance or the status of a procedure.
Thus, customer service is strengthened by machines, which consequently achieve the goal of helping more people and creating a better overall experience, which directly influences customer loyalty.
According to data from Juniper Research, it is estimated that enterprise spending on AI-powered chatbots will exceed $9.4 billion by 2024.
Artificial Intelligence also allows customers to self-service their queries at a time of their choice. With self-service, customers can identify and find the help they need without relying on a customer service agent to be available, such as on weekends or after hours.
Another use of AI in customer service is through voice and text recognition, which allows customers to identify and find the help they need without relying on a customer service agent being available, such as on weekends or outside working hours.
Improving productivity in your business with Artificial Intelligence
As we have seen, Artificial Intelligence has led a revolution comparable to that generated by the Internet, especially in the business area. Nowadays, you cannot separate business strategy from technology strategy.
If you want to incorporate these advances in your business in order to free up time and resources so that your team can focus on more strategic tasks, Aunoa can help you achieve this.
We are a company specialised in automated chatbots with Artificial Intelligence. We take care of the design and development for your company, transforming the experience of your customers. Do not hesitate to contact our team and see how far your business can grow.
