Artificial Intelligence: Churning out Success Stories across Sectors, Startups, Giants
Artificial Intelligence (AI) has spun the whole tech-world in a way that it has become nearly impossible to differentiate between what is AI-driven and what is not. In a recent research conducted by Gartner, 85% of the total customer interactions won’t require human customer service by the end of this decade. From cloud computing to personalizing customer experience, Artificial Intelligence (AI) has transformed all the traditional methods into the advanced and potential ones.
Global companies known for their impeccable consumer base and B2C culture across sectors have adopted AI in many unique ways thus have given us more reasons than we thought could exist to convince us and show hope with the technology for common person’s use and a successful foreseeable future .
Global e-commerce giants like Amazon and Alibaba have witnessed remarkable growth in their enterprises with AI-powered systems. According to Rejoiner, Alexa- Amazon’s a virtual voice assistant helped the company to increase its annual sales by 35%. Meanwhile, the company has recently launched “Amazon Go”- a ‘just walk out store’, an new type of hassle-free customer experience from the house of Amazon. It is currently operational in Seattle, USA and is also planning to open it’s first store outside the country in London soon. This experience is touted to simply eliminate checkout hassles in convenience stores for the buyers. The company tracks interaction of customers whenever they pick a product from the shelf to determine the buying- behaviour with the help of AI-backed camera and sensors.
Whereas, Alibaba Group, a renowned Chinese multinational conglomerate headed by Jack Ma, uses AI in navigation and maps for making delivery routes easier. This has helped them to reduce their convenience cost by 10% and travel distances by 30%.
Food and Beverage Sector
Coca Cola Amatil is the largest bottler of non-alcoholic beverages in the APAC. It has profited around 1.3% market share within five months by using Trax Retail Execution image-based technology. Earlier the company was experiencing limited product records and delayed data received from mobile conversations. However, with this AI-powered technology, they can maintain more comprehensive online assessments by taking pictures of the shelves from their mobile phones and analysing them with Trax Cloud in just few minutes.
Starbucks has also taken its customer relationship process to a whole new level by using predictive analytics to deliver personalised messages to the target audiences with mobile application, recommendations and loyalty cards. They have also introduced virtual Barista service on their app backed by AI to make direct ordering process easier and faster. A report issued in 2018 reveals that AI is helping this brewing company to track over 90 million transactions every week to bring new market campaigns and plans.
General Motors, the American multinational corporation is planning to invest $1bn in the next 5 years in Argo AI, a startup that develops autonomous vehicle technology. The company is truly an inspiration to the business and tech-world as it is launching the first ever self-driving vehicle in the New York City with the help of AI. Audi is also not far behind in the race of AI. The renowned German automobile maker debuted three car models with AI features to enable its functioning without a driver. It can autonomously perform tasks like, searching a charging station, parking and visiting a car wash.
Twitter, the 9th largest social media network in the world has successfully identified and deleted 300,000 terrorist-linked accounts noted for promoting hatred and terroristic language; out of which 95% were detected by AI. Whereas, Facebook has detected and banned a huge amount of pornographic content; almost 98% of it was identified by AI.
Netflix, the seventh-largest internet and video streaming company by revenue is successfully entertaining 190 countries across the globe by utilizing technologies like AI to comprehend dynamic audience behaviour and lucrative subscription plans. According to a Netflix weekly report, it is adding over 56,000 subscribers in the world each day and approximately 12,000 subscribers in the US alone every day by using AI-generated algorithms like ‘Recommendation’ engine and personalisation.
Good news for all the Nike lovers for it has launched a system backed by AI that will allow buyers to customize and design their own sneakers. This will also help the company to collect humongous amount of data to design personalized recommendations and new products. Another large fashion company Tommy Hilfiger is collaborating with IBM and The Fashion Institute of Technology (FIT), New York, for making “Reimagine Retail” project successful. FIT students will analyse and comprehend the fashion data given by IBM to fetch marketing messages and fashion trends.
The world is slowly turning into a place where humans and robots are working together for accentuating the best attributes of every commercial sector. These are just some of the famous success stories of AI; there are several more which are unheard of and many on their way to become synonymous with success soon.
Also Read: Successful Applications of AI
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ABOUT THE AUTHOR
Ankit Srivastava is a Digital Marketing Strategist by profession & Blogger by passion. He loves writing on various topics as per his interest. Apart from blogging, he is a big foodie & a passionate photographer. Whenever he gets free time from all this, he goes to explore different places of India. Visit his website: www.IndiaAtAGlance.in