Every purchase recommendation to the customer from Amazon is the work of Artificial Intelligence. However, AI, which refers to the capability of robots to carry out jobs usually associated with humans, is not something that is used just by big multinational companies. A rising number of businessperson from Australia are utilizing AI in the sales process. Salesforce, a popular sales platform, revealed that its AI system called Einstein (Salesforce Einstein) lets it handle over a billion queries every single day.
Using AI for forecasting
Marty Nicholas, the managing and founding director of sales and marketing, said during the world tour of Salesforce that Artificial Intelligence helps Blackdot in devising a forecast for the future projections and revenues. Blackdot has a turnover of twenty million dollars with only 100 employees globally. According to Nicholas, AI helps Blackdot in the recognition of unique prospects to focus on. He feels that AI has still not been utilized to its full potential to derive some real value out of AI, a rich data set is something of primary importance.
Data-driven utilization of AI
Salesforce’s vice president of strategic research, Peter Coffee, said at the Sydney conference that AI has already been well recognized in the Sales arena. But the thing is that once AI starts getting used by us, we give it names like face or voice recognition. Thus, we fail to acknowledge the value of AI. In his opinion, the basic tech needed to drive AI has been present for sixty years and now the data required to use AI is also available. The chief executive of Faethm, Michael Priddis, says that differentiation between service and process AI is important. The process AI is internally hidden, and the service AI is used to understand the customer to drive sales.
The lack of trust
Lisa Bouari, the founder and chief executive of out Thought, says that customers seldom realize that AI is getting utilized in sales. The basic things like predictive insight have always been present, but they are so obvious in their presence that people do not acknowledge their availability. She feels that the issue is that there is a lack of trust regarding what is going to the data and how the data is going to be adopted. Building the trust is an important step in making AI widely accepted.
AI intertwined in our lives
Professor of Artificial Intelligence at the University of New South Wales, Toby Walsh believes that the continued progress of AI cannot be stopped. A day will come when the use of AI will be as intertwined and rampant in our lives as electricity. AI helps to track customer preferences and offer customized experiences which presents huge sales opportunity for businesses. He says that the system of dynamic pricing is already operational where, for instance, Mac users are offered higher prices for items than PC users. Google already tracks both online and offline activities through credit cards in the USA. But this is going to adversely affect the small businesses with their lack of access to rich data.