If you go to sites like MrBet Casino, you will realise that the machine seems to know what games you like and offers them to you. Similarly, many social media sites today do the same. It is what we call artificial intelligence or AI.
Today, we will take a look at how artificial intelligence and machine learning are changing the way the Internet works. We will also provide you with examples of how they affect our daily lives!
Advertising & Business
Many social media sites and search engines use AI to deliver ads. These applications have machines that know what you read, what you browsed, and other things you did online. Since these machines know what you are interested in, they can serve you advertisements relevant to your interests.
For example, if you searched for a pair of red shoes today on Google or liked a photo of red shoes on Facebook, the advertising mechanisms would know and serve you ads related to red shoes.
It is why if you have never searched anything about website builders, you will never see ads about WooCommerce, WordPress, Shopify, etc. It is not human beings who deliver these ads to you personally. The AI learns what you want, and the same technology makes decisions about what ads to show you.
It has changed the Internet because finding clients and customers online is now easier. Those who advertise can make use of their money better because now – they can target the right people.
The Internet is now rife with many loan companies. It is so easy to apply for payday loans from apps. It is not humans who verify your identity or make the approval decisions. In most cases, it is a machine.
The investments in artificial intelligence tripled from 2013 to 2014 because of its capability. Financial companies can save a lot of money if there is a machine that can approve and disapprove loan applications. These machines are what we call robo-advisers. They know the background of the borrower, and they use all data available to decide if the borrower is trustworthy or not.
Since it is robots that make decisions, the decision is based on analytical reasons, not emotions. The chances of a machine being wrong are little, so financial companies are willing to take a risk. As a result, there are more financial companies offering loans online.
Big companies like Zoho and Salesforce use AI to improve their CRM or customer relationship management tools. Instead of using humans to do a job, they now use machines. As such, this practice has an impact on how customers deal with companies online.
Now, customers can do self-updates and get data about their accounts without human intervention. Customers can even check their account balances, do transfers, and many other things without the assistance of a human.
Another thing that AI does is chat. If you go to many websites today, there are chatbots that can understand the concern or issue you typed in the chat box. From here, the chatbot will search its knowledge base and then provide you with an answer.
Because of this, there has been a tremendous increase in customer engagement. Since humans can interact with machines at any given time, they are more likely to connect with the business than ever before. The AI, if successful in providing answers, can also make the consumer happy, thus increasing the retention rate.
Who does not know about Uber or Lyft? AI is the driving force behind these apps. Today, people use the Internet to find transportation services. There was a time when people only relied on cabs and other public transportation. Now, folks can use their mobile devices to look for a ride.
It is not only the riders who benefit from this technology; car owners who want to work also benefit from it. They can now use their cars to earn extra money. Some even do this as a full-time job.
With AI, the Uber or Lyft app can find the nearest driver to the customer who needs a ride. The AI connects the passenger and the driver. Apart from that, the AI also determines the cost of the ride, and the passenger will know it before they even agree to take the ride. Finally, Artificial intelligence also makes suggestions on which route to take. This suggestion not only makes the ride faster but also helps the driver save on fuel.
Artificial intelligence is the future – it will be here to stay. More and more companies adopt an AI strategy that will improve their business performance. From analytics to gambling on social media — AI is now everywhere. The least we can do is embrace it and benefit from what it can offer.