If you are looking for an answer to the question What is Artificial Intelligence? and you only have a minute, then here's the definition the Association for the Advancement of Artificial Intelligence offers on its home page: "the scientific understanding of the mechanisms underlying thought and intelligent behavior and their embodiment in machines."
However, if you are fortunate enough to have more than a minute, then please get ready to embark upon an exciting journey exploring AI (but beware, it could last a lifetime) …
Google Cloud is making Contact Center AI generally available for use today. The cloud service is built with Dialogflow of the conversational AI engine to automate interactions with customers in call centers. Contact Center AI contains Virtual Agent to automatically respond to customer inquiries with voice or text or transfer the conversation to a person when a bot cannot help a client. Agent Assist uses natural language processing to increase customer service agent interactions with customers when a bot cannot help a client. The news comes today when Google launched its rich communication services (RCS) to Android message users in the United States, and days after Google's experimental unit, the Area 120 CallJoy service to answer phone calls and questions Small business customers get an update.
Driven by customer demand, marketers are looking beyond acquisition and vanity metrics to full-funnel marketing that tracks Lifetime Customer Value (LTV). With the help of AI, they're also freeing up time to think more strategically. Let's start with what the customer wants In the Fourth Industrial Revolution, customers are now in control. They're always connected, they have options and they can vote with their feet if they're unhappy. Salesforce's recent State of the Connected Customer research shows that 57% of customers have stopped buying from a company because a competitor provided a better experience.
Reuters, the world's largest multimedia news provider, announced today that it has joined the newly launched AWS Data Exchange to provide access to trusted news and data to Amazon Web Services (AWS) customers. Even more enterprises will now have quick access to Reuters trusted, independent and impartial news content and data, which are produced by 2,500 journalists in more than 200 locations globally, to power their artificial intelligence (AI) applications. "Reuters is constantly seeking new ways to broaden the reach of our independent, trusted and unbiased news content and data. We are excited to be among the first providers of such content in AWS Data Exchange, where our multi-language news data will be made available to a diverse range of AWS customers around the globe," said Alphonse Hardel, Global Head of Business Development and Strategy, Reuters at Thomson Reuters. "With the increasing demand across industries in using news content to train and power their mission critical AI and analytics applications on the cloud, the depth and accuracy of Reuters coverage means AWS customers are now able to seamlessly access the highest quality of data from AWS Data Exchange," added Hardel.
While it's not uncommon for small and medium-sized businesses (SMBs) to switch financial institutions, the 2019 FIS Performance Against Customer Expectations report has found that the rate of churn is increasing. Historically, 13%-15% of small and medium-sized firms have been found to be actively reviewing their banking relationships. However, the turnover rate has now risen to 61% among the top 50 U.S. banks and 60% among regional banks. All it may take to push an already skeptical firm to switch is one more bad experience. So customer sentiment analysis could be exactly what financial institutions need to improve customer experience -- ideally, before things ever reach that pass.
What comes to your mind when you think of "artificial intelligence?" And you are right, sort of. AI is capable of doing all those things, plus it's capable of revolutionizing the business landscape. "For many people, artificial intelligence, or AI, is a mere concept, something that will happen in the future. But, in reality, AI has already become a part of mainstream businesses", says Michael Georgio, CMO of Imaginovation, a Raleigh, N.C.-based AI development company.
Warning that businesses that ignore machine learning will "be left in the dust," Workday CEO and longtime cloud evangelist Aneel Bhusri said yesterday that machine learning will become even more disruptive than the cloud computing he's helped turn into a global phenomenon. Those would be strong words from any executive. But when they come from Bhusri--one of the leading advocates of and evangelists for cloud computing over the past 14 years--they dramatically underscore the scale and scope of ML's impact on the business world. In his keynote address opening his company's annual Workday Rising customer conference, Bhusri pegged ML as one of the three top-priority areas at fast-growing Workday as it gets closer to topping $1 billion in quarterly revenue. Bhusri's pointed and powerful focus on the ubiquitous role machine learning is playing at Workday comes at a critical time for the rapidly growing high-flier, which is #8 on my Cloud Wars Top 10 ranking.
Digital transformation is not new, and most companies have been on a digital journey since the 1990s. The digital transformation came in many forms -- Web, Web 2.0, SaaS, cloud, mobile, business intelligence, and big data for starters. Digital touches every operational aspect of a business in a similar way that the CFO role does. Eating this new digital elephant is a massive undertaking for any business. In the next two years, the CFO may well be the driver of this evolution of digital -- analytics, automation, and artificial intelligence (AI).
Even before the digital age, marketing professionals have been among the most eager and early adopters of emerging technologies. AI and machine learning are already popular tools in digital marketing. This evolution is likely to evolve and expand in the next several years as data multiplies, new models evolve, and marketers devise new tactics for getting ahead of their competition. AI provides the perfect answer to the age-old advertising mantra of getting the right message to the right person at the right time. "Machine learning has the potential to reduce much of marketing's imprecise nature," "Using behavioral data, marketers can target their audiences in an efficient way that greatly improves the likelihood of converting shoppers to customers."
Last year, at Insight 2018 in Dallas TX, Deltek committed to investing in emerging technologies to improve the user experience at every stage of the project lifecycle. We continue to develop these efforts to help streamline work, save time and addresses challenges within your project-based business. We've been busy delivering on our promise and we're excited to share with some of the latest technologies that will add additional purposeful innovation into Deltek's solutions for project-based businesses. No one likes to create an expense report – ever – but it's a must-have in a world where they are required for billing and auditing purposes. Our responsibility to the market is to make this process as quick and easy without giving up the necessary controls to meet your business requirements.
A famous television series kicked off with its first episode titled "Winter is Coming." This phrase ended up carrying more weight than just the arrival of a season in the fictional series. In real life, some might say another monumental event is nearly upon us: Black Friday. References to Black Friday began as early as the 1950's in the United States. It wasn't until the 1980's that it came to refer to the retail shopping period following the Thanksgiving holiday, with one explanation suggesting the color indicated this being the time at which retail companies moved from operating at a loss (or "in the red") to profitability ("in the black").