How will AI boost your business: 5 points to ponder

Siddharth Mehta IL&FS former director believes in the growing digital economy of India and hopes that in the next 5 years, India will be heading much ahead of its time in digitalization. His views and notions concerning fintech and digitalization are quite positive. Siddharth Mehta, former IL&FS director believes that the growth of fintech in India denotes the digitalization growth of the country. 

AI can boost your business and can result in higher productivity for the overall development of your business. 

Let’s see the 5 ways in which AI can boost your business: 

  1. AI with its feature of automation can do a large amount of work quickly, it can do repetitive or mundane tasks quickly saving the time of the employees so that they can focus on more complex tasks and strategies and utilize the skills in more meaningful ways. 
  2. It can provide personalized customer support, and the advanced chatbots of AI will assist the customer like humans and give real-time solutions for customer queries. It helps in building customer relations and saving time.
  3. AI also offers better market and trade insight, the analytical approach of AI keeps you up to date with the recent market trends and information on supply chain and price. This will give you more ideas on developing business strategies. 
  4. AI with its advanced mechanism of detecting cyber threats will detect online fraudulent activities and provide real-time security in protecting sensitive data. AI is always learning with all the transaction behavior of the user and its powered systems can detect network traffic and anomalies. This proactive approach of AI allows us to respond quickly if there is any breach in the data.
  5. AI can also help you in making business decisions. With AI you get every information technically with all the estimations for your business. Its analytical and predictive approach process a large amount of data and help you with a data-driven smart decision. This technology is also cost-effective and helps you in saving capital for your business. 

So in conclusion Siddharth Mehta Bay Capital CIO says we can say that AI is quite helpful for your business. It will if utilized appropriately surely results in enhancing the production or output of your business. Its analytical and data-driven approach will certainly benefit your business.  

 

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