Robotics & Artificial Intelligence
Write various applications of AI in commercial field.
AI Introduction
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Answer
AI has impacted many industries and organisations. Some important applications of AI in commercial field are:
24 x 7 Customer service: AI-enabled chat bots can handle customer queries 24 x 7. These chatbots can also help with product recommendations and collecting feedback.
Sales and marketing: AI helps improve the sale of a product by sending personalised messages to customers by understanding their buying patterns and choices.
Supply chain management: The supply chain system can be managed by understanding product demand and supply. This can be done by analysing product reviews through AI-enabled tools.
Fraud detection: Financial data can be analysed with the help of AI tools. It will help in detecting fraudulent activities and handling financial losses.
Product development: AI tools can be used to understand customer requirements and feedback that will help in developing optimised products. It will also help in understanding product shortcomings and future consequences.
Risk management: Financial risks can be analysed through AI tools by observing historical data. These tools also suggest risk-handling solutions.
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