Technology and Business Review: March 18, 2017

Consumers not knowing they are using artificial intelligence, deciphering the largest generation in the United States today, and Amazon adding Alexa on their shopping app—here’s what’s happening in the world of technology and business.

Two out of three consumers don’t realize they’re using Artificial Intelligence (AI). Any business really wants to do just one thing—sell more stuff to more people. In order to do that, you’ve got to understand the buying behavior of your customers. Today, understanding artificial intelligence (AI) and the role it plays in our world today is a critical part of that equation. It’s interesting, though, that many consumers have already been incorporating AI into their everyday lives for some time now and yet don’t have any idea they’re using it.

If you use Siri, or Cortana, or ask Google for information, you’re using AI. If you’ve bought a Google Home or Amazon Echo device, you’re using AI. And if you buy things online, chances are good you’ve interacted with a chatbot about a customer service issue—and that’s AI. Hubspot has been researching consumer sentiment towards artificial intelligence and chatbots and surveyed over 1,400 consumers globally about AI. Here is what they found:

• 63 percent of those surveyed were not aware they’re already using AI technologies.
• Use of voice search has increased significantly. SEO/SERP professionals need to take notice.
• Consumers are comfortable buying from a bot that provides customized service.

These are just some of the findings in the Hubspot research—to take a deeper dive, check out this article shared by John Koetsier.

How Brands Can Use AI to Market (and Sell) to Millennials. Speaking of AI, according to a 2016 Pew Research report, Millennials are the largest generation in the United States, and brands continue to try and figure out how best to communicate with (and market to) them. For brands and marketers, it’s important to know what influences shopping behavior and the touchpoints where your messages should be shared. More importantly, you need to be able to use data, and the insights gleaned from it, to effectively generate sales conversions. Since Millennials spend a ton of time online, the amount of available data is enormous. Researchers are now looking at machine learning and AI technology to turn this vast amount of data into useful information. Check out this article shared by Spiros Margaris to learn the different ways brands and marketers can use AI in their quest to connect with the Millennial consumer base.

Will artificial intelligence be essential to competitiveness? According to a study released by Tata Consultancy (TCS), AI will have a dramatic impact on businesses in 2020. The companies that were surveyed range from banking, automotive, energy, healthcare, industrial manufacturing and retail. The survey participants agreed for the most part that they need to embrace AI technology to remain competitive in their industries. The report also indicates that the use of artificial intelligence is already spreading through many areas of companies especially IT departments where two-thirds of respondents are using AI technology to detect security intrusions, user issues and deliver automation applications.

Innovation is key to any success in business and if you are looking to integrate AI in your enterprise, be sure to check out this article shared by Craig Brown to learn more insights about the study.  Definitely a must read.

Cloud Solutions Powering Business Growth. Sustained business growth is the goal of any successful enterprise, and scaling a business is but one of the many challenges faced by company leaders. To facilitate growth and the ability to scale, you’ve got to be able to  effectively manage operating details, continuously strive to improve business processes, and interpret data and effectively apply insights gleaned from data to drive your sales and marketing strategies—and the way you do that—by adopting cloud solutions.

If you’re looking to bolster your business knowledge and expertise and to be more agile when it comes to scaling and positioning your company for growth, including mastering the following:

• How to take fast action on market trends and opportunities through more transparency across business functions

• How to manage your entire business with a single cloud solution that supports several departments and job functions

• How to adapt to the expansion of business processes without additional costly IT support

then you should make time to explore the cloud solutions offered by SAP. A small investment of time could result in a big gain for your business.

Register for the How to Grow your Company Better and Faster with SAP Cloud Solutions webinar. This free webinar will be held on March 29, 2017 starting at 10 am PST/12pm CST/1 pm EST.

Featured speakers include: Juan Muzzio, President-Owner at Consilium Consulting, Inc.

Georges Lucien Solbes, Senior Marketing Manager at Consilium Consulting, Inc.

and Daniel Newman, Principal Analyst at Futurum.

Photo Credit: vic8761 Flickr via Compfight cc