AI Trends 2022: 5 Ways To Reduce Costs And Increase Customer Loyalty

Artificial intelligence facilitates the work of various business areas, makes companies more profitable, and offers potential for creating entirely new products. The development of intelligent technologies is far from over. Recent trends will make data processing even more manageable in the future, make it possible to react faster and more specifically to customer needs, and require companies to take on more responsibility.

AI Trends 2022: Emotional, Talkative, Transparent

Emotional AI

Machines don’t have feelings. That’s true, but they can analyze our emotions based on facial expressions and tone of voice. A wide range of business areas benefits from this. Companies can thus offer customers even better service in the future.

Requests to customer service are automatically analysed based on the words used and categorised accordingly for the subsequent processing.

Marketers can also use emotional intelligence to test the effectiveness of their actions. For example, the reaction to online ads is measured with the users’ consent to tailor ads even more precisely to the target group.

The sensitive technology also creates wholly new or improved products. For example, how about a fridge that senses our feelings, offers appropriate snacks, or plays relaxing music when the door is slammed shut too hard?

Small & Wide Data

Intelligent systems learn from data. The more numbers the AI ​​has to process, the better the result. So big data is good but simply not feasible for smaller companies. So far, intelligent solutions have been the privilege of large companies with complex databases.

Small & Wide Data are the solutions to the problem and make it possible to generate helpful content from smaller amounts of data using optimised machine learning methods.

By reducing volume and analysing unstructured and disparate numbers, available data is more efficient. Many companies are now seeing the benefits of this new form of data analysis. According to Gartner, 70 percent of companies want to change their focus from big data to small and comprehensive data by 2025.

Intelligent Document Processing (IDP)

Comprehensive documentation is part of every work process and, even if it is tiresome for many employees, necessary. AI facilitates the workflow and can capture and evaluate content from different document formats. For example, applications can be checked, orders accepted or customer and payment data updated automatically. This saves the team time and nerves and reduces the susceptibility to errors.

Conversational AI

Alexa and Siri are happy to turn the lights on and off for us, willingly tell you what the weather will be like today, and make calls when we don’t have our hands free again. So nothing new, but still a trend. Because conversational AI is becoming increasingly important, especially in customer service.

If customer inquiries are processed as precisely as possible using AI without resorting to an expert, this saves time and money. This is where natural language processing comes into play. The technology recorded the customers’ language and processed it using computer-based algorithms.

Responsible AI

Even if AI applications make everyday life and work much more straightforward, intelligent technologies are repeatedly criticised. For example, their use has already led to discrimination in selecting personnel or dangerous consequences when used in cars.

Laws are to regulate critical AI applications such as facial recognition and behavioural monitoring more strictly in the future.

Companies that work with intelligent solutions also have a responsibility to be transparent. This means that the functionality of the applications is clear, consistent, and understandable and that third parties can trace inputs and outputs.