Artificial Intelligence (AI) was once an intimidating topic that conjured images of robots overtaking offices. But the reality is that AI is being used nearly everywhere we turn. Its applicability is vast, and technology service companies often build it into their platforms, making it more accessible than ever for businesses of all sizes to take advantage of the benefits of AI.
One of the key benefits of AI is that it helps companies collect, analyze, and strategize around consumer data. Instead of guessing what customers want, companies can now use accurate consumer information to drive their development decisions. Armed with these insights, companies can truly understand their consumers and even predict their needs before they begin a search. Considering that 66% of customers now expect companies to understand their needs and expectations, AI is vital to long-term business growth and success.
App development was similarly daunting. The idea of creating an app from scratch or the expense of hiring someone to build it in-house seemed unreasonable. Now, companies from your favorite retailer to your auto repair shop have apps that make it infinitely easier to perform all business activities in one mobile-friendly place. Apps are a tremendous asset to companies, whether the app is your primary service/product offering or simply a helpful tool for consumers.
Part of the reason behind the proliferation of apps is that app development no longer requires a large, expensive, in-house team of developers and supporting staff. Now, companies of all sizes can create apps that delight their consumers and add value by working with businesses like Makeen.io, which helps you transform your vision and goals into a beautiful, exciting, high-performing app.
Artificial Intelligence Trends
AI Trends Up During Pandemic
AI was already on a steady growth trajectory in 2019 when the pandemic motivated 55% of companies to accelerate their AI adoption plans. In 2021, 86% of the companies said AI was becoming a “mainstream technology” for their businesses, and 67% expected to continue accelerating their AI strategies that year.
AI has many benefits, including improved customer experiences, better decision-making, and increased efficiencies. When the rules of the game change, as they did during the pandemic, leadership teams need to focus on the highest-value activities to ensure they can thrive through turbulent times. That shined a spotlight on the opportunities that AI provided to save time and costs and deliver superior experiences directly to consumers.
Enriching The Customer Experience with AI
AI can help businesses personalize the user journey by providing recommendations based on past behavior or using predictive analytics to anticipate needs before they arise. All of this technology adds up to tailored customer experiences, which are a significant factor in boosting sales, encouraging loyalty, and increasing revenue. 70% of consumers have reported they would pay more for a convenient customer experience.
Mitigating Errors & Gaining Insights
In addition to benefiting customers, AI can help businesses make better decisions by reducing bias, increasing transparency, and providing data-driven insights. The right AI tools can identify patterns and correlations that humans might miss, which can be helpful in everything from fraud detection to identifying new business opportunities. And because AI provides a clear audit trail of the decisions made, it can help businesses increase transparency and accountability while decreasing the risk of human error.
Boosting Profit Margins
AI also helps businesses automate tasks and processes to improve efficiencies. This is especially beneficial in time-consuming or repetitive tasks like data entry or bookkeeping. Automation saves employees time so they can focus on more value-added tasks and reduces the potential for human error.
A Limitless Future For AI
AI innovation is no longer out of reach for the small business owner or startup founder. These tools are now within everyone’s grasp, which makes the future of AI quite bright. The potential benefits are immense and cut to the core issues that companies are continually aiming to improve. AI helps businesses pull the levers that truly impact their short- and long-term success—lead generation, nurturing, customer service, retention, streamlining processes, mitigating errors and excess costs, and raising revenue potential.
Apps For All
Over time, apps have become common in the business world. They evolved from an exciting new business idea to a competitive advantage to a feature many consumers expect. 74% of consumers use multiple channels to start and complete a transaction, making it increasingly important for businesses to offer numerous ways for them to interact with their brands and convert into customers.
Leverage Apps to Understand Customers
Apps—especially combined with AI technology—allow companies to learn from consumer behavior and deliver highly personalized experiences. According to McKinsey, 74% of consumers get frustrated when companies fail to provide personalized interactions. This is no longer an option but a requirement for most companies to remain competitive.
Meet All Customers, Everywhere
A core concept behind personalization is understanding that every consumer is different and will prefer to interact with your company in various ways. It’s no longer sufficient to serve just one segment’s preferences if you want to thrive. Customer preferences and behaviors are also changing rapidly, so it’s essential to be prepared for whatever comes next.
The McKinsey study found that 75% of shoppers tried a new shopping behavior between 2020 and 2021, and 80% of those intend to stick with it. So, sticking with what works may fail to serve companies moving forward. The use of apps allows businesses to meet customers on their terms, which is the first step in providing a truly personalized experience. By understanding how customers want to interact and using AI to track and deliver on those preferences, businesses can ensure that they are always providing the best possible experience—no matter what channel or device their customers are using.
Apps Made Easy
Apps are easier than ever to develop for companies of all sizes. By hiring a reputable company specializing in high-performance apps, your business can skip the hassle, time, and costs of building an in-house team. Leading app development companies, like Makeen.io, have the knowledge, skills, and expertise to transform your vision into a working app that follows the current best practices. They can also make it easy to refine over time as technologies and consumer behaviors evolve.
With this valuable resource available, there is no reason to skip app development any longer. Ensure your company gets the consumer insights you need to set your business on the right path to success. These insights will guide your product and service development, enabling you to deliver a rewarding customer experience that drives revenue for decades.
Conclusion
AI and app technologies have become critical to the modern customer-centric approach to business development, product creation, and customer service. Each one plays its part in creating a seamless and personalized experience for customers across devices, which has become an essential factor in a company’s growth trajectory. Not only does personalization and a clear understanding of your customer drive satisfaction ratings, but it also drives company growth. Recent findings demonstrate that companies that embrace personalization benefit from increases in revenue, faster growth, improved customer outcomes, and increases in customer purchases, return purchases, and referrals. A recent Salesforce survey shows that 80% of customers believe the experience a company provides is as important as its products and services, which is a significant driver for AI adoption and app development.
The possibilities for AI and apps are limitless and exciting. Experts anticipate that AI will evolve beyond what we know to create 3-dimensional (3D) experiences by combining with other technologies like Augmented Reality (AR). For example, you could enter a restaurant and have the environment adapt to your preferences—from the music to the color of the walls. It’s an exciting time for businesses like yours to get creative and find applications for these technologies that helps you to stand out, attract your audience, and make a name for yourself. These technologies are not reserved for the corporate giants anymore. We can all experience the benefits and joys of innovation through AI and app development.
