Artificial intelligence is one of the most effective technologies affecting businesses today. The popularity and use of artificial intelligence have exponentially increased over recent times in businesses. AI-based technologies are now employed in various businesses to efficiently manage companies’ operational costs, maximize profit, or even interact with new customers.
Some examples of such AI-based technologies include Amazon’s Alexa, Apple’s Siri, Taxi services like Uber, and Facebook facial recognition just to mention a few. It is pertinent to note that this AI software can efficiently analyze a huge chunk of data accurately and in a timely fashion. This is why more companies are tapping into the potentials of AI-based technologies in the business space. It helps in the automation and optimization of business processes and the efficiency and productivity of these processes.
This article will delve into how AI-based technologies can be integrated into organizations’ software for data filtering and how Clearfind has been making giant strides in the software ecosystem using their software intelligence platform to help companies save up to 30% on their software budget.
Understanding AI-Based Technologies
Artificial intelligence is a field of computer sciences that develops and uses machine learning. Unlike human or natural intelligence of animals that involves emotions and consciousness, Artificial Intelligence enhances abilities such as learning, pattern recognition, problem-solving, knowledge reasoning e.t.c. in machines and digital systems.
The working principle of artificial intelligence is such that machines can imitate human intelligence and perform tasks that humans can do from very simple tasks to complex ones. Mimicking and imitating various human cognitive activities is one of the sole aims of artificial intelligence. In recent times, computer scientists and researchers have made giant steps in clowning human activities such as reasoning, perception, pattern recognition, problem-solving and learning in very definitive ways through machine learning and deep learning.
This recent progress in the world of Artificial Intelligence has led to the development of Artificial Intelligence software or software intelligence and AI-based technologies that could be implemented in various industries. It has specifically opened new frontiers for businesses and companies to use their resources and enormous data to create smart AI software and AI-based technologies through the machine and deep learning. These software and technologies give room for practical applications of AI in today’s businesses. AI has been hugely important and successful in the identification of new business ideas and opportunities and has helped companies make significant progress in terms of profit generation.
Artificial Intelligence Impacts on Business
According to studies, 83% of business owners have already said that their companies have enjoyed either moderate (53%) or substantial (30%) economic benefits from their respective AI projects. In other words, only 16% of businesses have failed to achieve any economic benefit from the use of AI. This is further buttressed by a recent survey that showed that out of 3000 from 112 countries who were interviewed in the MIT Sloan Management Review and the Boston Consulting Group 84% of the executives think AI integration into their businesses will give them a competitive edge over their competitors.
Artificial intelligence over the years has helped to develop various aspects of today’s businesses. With the innovation and creation of smart AI software and technologies, businesses have benefited from the application of AI through advancements in Email spam filters and categorization, Voice and face recognition, Predictive analytics, customer service, Web search suggestions Targeted advertising remarketing Chatbots, online support, virtual assistance agents and Automatic scheduling e.t.c.
AI integration into businesses can specifically help in the optimization and efficiency of business processes and their productivity through a reduction in their cost expenditure, improved time management in routine tasks, work automatization, and sectionalization of work procedures through machine learning. AI writing software tools also take advantage of readily available data to make automated data-oriented decisions such as building models to improve customer overall satisfaction.
How Clear Find Uses AI-Based Technologies to Filter Different Software Data in Identifying Overlaps and Finding New Software
It is no longer news that many businesses suffer under the immense weight of data. Exploring the enormous software ecosystem searching for the desired software to meet your companies’ goals and expectations can be a daunting task.
Finding the right software for your business goals goes a long way in trimming your business operations, helps your business intelligence, and improves your productivity. The right software for the right system has a positive impact on that system be it Customer Relation management (CRM), Human capital management (HCM), enterprise resource planning (ERP), or any other system. However, a wrong fit or wrong software vendor could lead to wasted time and resources. With so many enterprise software out there, choosing the right platform could help maximize your software investment.
However, many companies including Clearfind have developed some great AI-based technologies to help curtail data loss, integrate with company software in regards to records keeping, and much more. Clearfind, headed by James Layfield (Co-Founder of Clearfind) has a team of dedicated experts and strategists who have developed a software intelligence platform that helps companies identify their software overlap and save as much as 30% of their software budget.
Clearfind provides clarity and transparency to organizations looking to buy enterprise software by leveraging a database of over 50,000 platforms. They use the power of AI to tap into this vast database to find specific features that suit businesses and companies’ software needs.
This process is especially valuable to CFO’s of organizations, as software is one of the fastest-growing line items. With Clearfind, CFO’s can shorten a one to two-month-long process of identifying the right software and avoiding overlaps into seconds. The result? Finance leaders save enormous time and money while making a major positive impact on the business.
How are they able to effectively achieve this giant stride?
- They take in your company spreadsheet of software names and details.
- The Clearfind software intelligence system goes to work in evaluating millions of various data points.
- Once completed, you will get a detailed report of all your software ecosystem opportunities.
One great benefit of their AI-based technology is the eradication of double work which frees up more time to work on other commitments. The Clearfind software intelligence platform comprises a vast database that AI can query to get desired results in seconds. To summarize, Clearfind’s ability to cut significant costs by specifically identifying what your company already has and pointing to what it needs allows finance leaders to effectively end cycles of waste and operate at a higher level.
The importance of AI-based technologies and software in businesses and enterprises will continue to grow. Their integration will continue to help businesses make smarter decisions, overhaul and optimize business processes and procedures and ensure revenue generation for such companies while providing them with a competitive advantage.