Remove Analysis Remove Customer Experience Remove Insurance Remove Retail
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The most valuable AI use cases for business

IBM Big Data Hub

Customer-facing AI use cases Deliver superior customer service Customers can now be assisted in real time with conversational AI. Voice-based queries use natural language processing (NLP) and sentiment analysis for speech recognition so their conversations can begin immediately.

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#ModernDataMasters: Martin Squires, The Analysis Foundry

Reltio

“As we move into a more automated age – where things are delivered by black-box techniques, deep learning and AI – it is even more important for the data to be correct because otherwise it will impact the customer experience. It would be interesting to know how far we are from the Star Trek computer!”.

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Conversational AI use cases for enterprises

IBM Big Data Hub

In addition, ML techniques power tasks like speech recognition, text classification, sentiment analysis and entity recognition. It signifies a shift in human-digital interaction, offering enterprises innovative ways to engage with their audience, optimize operations, and further personalize their customer experience.

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ABBYY Opens Office in Hong Kong to Strengthen Presence in Asia

Info Source

The retail industry and banking are the biggest spenders on AI in the region, with use cases such as fraud analysis and customer-facing process automation enabling self-service and improving customer experience. According to IDC , the spending on AI systems in Asia-Pacific is expected to reach $5.5 billion in 2022.

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State of the Global Capture & IDP Market

Info Source

Our analysis highlights continued strong growth in Case Management type solutions, which include use cases like onboarding and claims management, i.e., the automation of transactional business processes which relate to the processing of a “case.” The largest verticals in the Capture & IDP markets are the Finance and Public Sectors.

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Infosource Global Capture & IDP Vertical Market Analysis 2022-2023 Update

Info Source

We expect this sector to be at the forefront of embracing Advanced AI technologies to further enhance customer facing processes with a strong focus on Customer Experience. For example, organisations in the Legal and Retail sector may see impressive ROIs.

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Safety Stock

Ascent Innovations

Safety stock serves as an insurance or a cushion for manufacturers and retailers against possible out of stock situations for an item. So, the right safety stock for an item should strike a balance between the conflicting goals of maximizing customer experience (satisfaction) and the cost of managing additional inventories.

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