Empower Your Business with Salesforce AI

August 21, 2020

Artificial Intelligence (AI) is all about the evolutions of machines or software to have the ability to perform tasks like humans, to think like humans, to act like humans, to make decisions like humans but in a better, faster, smarter way or to go even beyond that. Artificial Intelligence can be helpful in many ways and for many sectors like for example health, finance, education, security, engineering, manufacturing, research, and technology. This key feature for any company will make the stakeholders believe that it will surely help the sector with the performance in various proven ways. Some believe it can entirely replace the human workforce, some think it can be improved up to an extent, while some believe it can make the human race a slave. There might be different thoughts and arguments about how it is and will be changing life and experiences, but no one can deny the fact that it will be used in every sector extensively in the coming future and will change the way we do business.

What is Salesforce Artificial Intelligence?

– Utilities companies can use smart meters and smart grids to decrease energy consumption. Artificial intelligence is the simulation of human intelligence in machines or software that can act and think like humans and do the desired work. It is often also called machine intelligence, as it is the intelligence simulated by machines which may not necessarily be natural intelligence like humans. It is in the core of many software and machines from Siri to self-driven cars. The specialty of Artificial Intelligence is to learn from the available data and information in hand. It can smartly reprogram itself to do a better job based on new interactions and inputs.

Artificial Intelligence is already transforming businesses. The technology is evolving at a rapid speed and it is already surpassing human decision making in some instances. It is already being used in various sectors with many of its applications including data analytics, automation, and natural language processing. These fields of AI are proving to be effective in increasing efficiencies, streamlining operations, handling insights and even helping in attracting new customers across industries.

Many of the advanced companies have already seen changes and benefits to their businesses using AI. Super-fast hardware combined with a continuous flood of real-time data from multiple channels enables AI to drive unprecedented business results. AI models set to achieve the business goals can be perfected with real-time data from millions of customer interactions per day. Below are some proven examples of what and how AI can benefit businesses.

Reduction in customer attrition.
Up to 50% increase in Net Promoter Score between the company and its customers.
Thousands of yearly net additions of new customers to the company.
Increase in upgrade rates

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Applications of Salesforce AI

Daily life

Communications, time management, Health & safety, Education
Goals, informational needs, games, recreation activities
Products, purchases, marketing
Opportunistic planning
Augmentation of cognition

Science

Automated discovery, Design of experiments
Triaging of resources, Interpretation of data, Probing complexity
Biology, chemistry, medicine, climate

Infrastructure

Transportation
Commerce decision making
Agriculture
Engineering & architecture
Power & conservation

Consumers

Evolving relationship with computation
Sensing, reasoning & learning
Personalized smart applications
Products & services
Challenges and opportunities with data & privacy

How does Salesforce Artificial Intelligence Work?

With fast, iterative processing and very smart algorithms, analysing a combination of huge amounts of data or information, AI allows software or machines to learn from the data pattern or by analysing what is the insight of the available information. AI is a very vast field and it has below major subfields which are being used in many businesses and services.

01. A neural network

can be thought of like neurons in the human body. It is a type of machine learning that is built by connecting various units linked together to analyse external inputs to the system, relaying information between each unit. The process requires multiple stages for the data to be passed to find meaningful connections and to derive insights from undefined data.

02. Machine learning

helps in automating the building of analytics. It generally uses methods like statistics, operations research, neural networks, and physics to find unseen insights in data without specifically being programmed for what to conclude or where to look at.

03. Cognitive computing

is another subfield of AI that attempts for a natural, human-like interaction with machines. To simulate human processes through the ability to interpret images and speech and ultimately speak coherently in response, using AI and cognitive computing, the ultimate goal is for a machine.

04. Deep learning

uses huge neural networks with many layers of processing units, taking advantage of smart developments in computing power and improved training techniques to learn even complex patterns in large amounts of data. Common applications involve image and speech recognition.

05. Natural language processing (NLP)

is the ability of computers to analyse, understand and generate human language, including speech. Natural language interaction is the next stage of NLP, which allows humans to communicate with machines using normal, daily language to perform desired tasks.

06. Computer vision

is a machine’s ability to recognize what’s in a picture or video which relies on pattern recognition and deep learning. When machines can process, analyse and understand images, they can capture images or videos in real time and interpret their surroundings.

Technologies that Enable and Support Salesforce AI

In a summarized way it is safe to say that AI is a technology which provides software that is able to reason inputs and can explain outputs

Graphical processing units

are very critical in AI because they provide the heavy compute power that is required for repetitive processing of data. Training neural networks requires big data plus computational power.

The Internet of Things

often generates huge amounts of data from connected devices, most of it unanalysed. Automating models with AI will allow us to use more of the data to make a decision quickly.

APIs, or application programming interfaces

are portable packages of code that make it possible to add AI functionality to existing products and software packages. They can add Q&A capabilities to image recognition capabilities and home security systems that describe data, create captions and headlines, or call out interesting patterns and insights in data

Advanced algorithms

are very intelligent algorithms which are being developed and combined in various ways to analyze more data faster and at various levels. This intelligent processing is key to identifying and predicting rare events, understanding complex systems, and optimizing unique scenarios.

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How does Artificial Intelligence Work to Benefit a Business?

Many people when thinking about AI, start painting pictures in their heads of something human-like robots, machine ruled future, etc. They think it is something of future technology or just a concept. However, in reality, AI is already being used and is already becoming part of our daily life. We interact with AI daily and it is not just limited to our smartphones, laptops, and PDAs.

According to a PricewaterhouseCoopers (PwC) report, the global economy can see a potential contribution of $15.7 trillion from AI by the year 2030.

Scope of Artificial Intelligence across industries – AI can be helpful for many industries across the board for many business goals. It can be of use in increasing sales, detection of frauds, in improving customer experience, automate workflows, and in determining predictive results.

Taking a good look at your business and determining what strategic pain points can be eliminated or minimized using AI-based program solutions. AI can provide predictive analytics for your business. It can help you automate tasks. Through examination, one can come to a conclusion of the right objectives for the specific business.

Financial services can get benefited from AI-based process automation and detection of fraud.
Logistics companies can make use of AI to prepare a better inventory and delivery management system.
Health care service providers can be benefited with AI to help better tools for early diagnostics.
Automobile industry has autonomous cars, a direct result of improvements in AI.
Evolved chatbots and virtual assistants also show a smart use of AI in various companies.
Utility companies can use smart meters and smart grids to decrease energy consumption.

AI services and outsourcing

AI systems are not an easy thing to make in the real world. There are many factors which a company may be scared of before flagging the program or even starting to think about it. For example, a company may need to hire hundreds of new developers, few data mining engineers, etc. Furthermore, these Ai solutions need to make above highly efficient computational infrastructure which should be really fast and very robust. The AI works over raw data and needs specialists for data labeling, model output validations, and more. Most of the companies can’t just make an in-house AI team as the procurement and setup of the needed infrastructure is time-consuming and very costly.

There are services or services providers available in the market who have the needed infrastructure ready, they also provide the infrastructure which makes AI development easier and affordable for businesses. The company does not need to build the infrastructure or the AI core development team from scratch and can fast-track the AI efforts.

Understanding the risks

A new technology always comes with a risk factor. Using technology and learning through past experiences can only make the most use of technology, the same is the case with AI. Taking one thing at a time, starting with small scopes, critically examining past failures can be the way to master it. Understanding the risk factors and transforming the available data into useful information can help in determining the next step with AI.

Artificial Intelligence in Sales Businesses

AI is a pretty big deal for B2B (Business to Business) and B2C (Business to Consumer) businesses. Below are some of the examples of how AI is used in sales businesses.

Building pipelines

AI tools and programs can help sales reps fill the pipelines fast. There are AI tools in the market which may help in finding new leads by analysing current and historical data. These can also find new leads which may look like the current leads. AI can be leveraged to find and connect to new customers through various means and through different channels.

Closing more deals:

There are various AI tools which may help sales reps identify which deals are more likely to get closed. These AI tools use powerful insight analytics to predict and rank the leads and opportunities with respect to having the likelihood of getting closed and won. This additional flexibility helps sales persons to prioritize their work in order to focus on the promising deals, which in turn, increases closing rates for the company, boosts sales productivity and helps in building more revenue opportunities.

Smartly automate and augment activities

Sales teams have many tedious tasks in hand in day to day business. These tasks can be related to data captures or to analyse call data. These tasks also include some repetitive tasks like scheduling meetings, processing orders, sending out emails, and more, which are mostly time-consuming and can be automated. AI helps in automating these to ease the work and reduce manual efforts.

Salesforce Artificial Intelligence in Marketing Businesses

The impact of AI in the digital market is huge. Many companies are already using and getting benefited by this technology. Taking insights from social media, emails, and the Web to advertising and automatically responding to different customer queries, AI has been helping the marketing teams in various ways. Another reason why AI has been successful in marketing businesses is that it understands who is the right target audience and creates the program to target these only.

Sales forecasting

To prioritize customers and their demands on their sales cycle and future roadmap. Sales forecasting provides the management and the sales reps an instinctive with a real time rating for each opportunity based on historical and current data. This helps the sales team decide which opportunities to prioritize with very minimal effort and time. This, in succession, helps them to close more deals.

Understanding customers

This part of the technology is often used to distinguish the target audience for the product. It helps in discovering quality audiences at a big scale, finding new audiences through deep insights, anticipating next interaction and conversation and even inspiring customers to take actions.

Finding the trend

It is all about discovering new lookalike audiences. These can be integrated with social media like Facebook or with search engines like Google. One can integrate email and ad campaigns to reach more of the audiences.

Programmatic ad targeting

Starting from one-to-one advertising to synchronizing customer’s data from any digital channel and making the information up to date, Ad targeting is the new trend in a needed solution to attract appropriate customers. Targeting customer’s preferred channel and integrating the campaign with sales, service and marketing teams to put perfect ads for the right person are also crucial benefits.

Chat bots

Chat bots can replace or help in a company’s day to day customer services. Be it handling complaints, responding to the inquiries or chatting with customers to give them right directions, chat bot AI is very crucial as most of the companies in their websites have integrated this additional feature to ease up customers’ experience on the web page.

Content generation

Manually writing or generating content may be a thousand word essay or a graph on some analytics, it is a very tedious job which can be replaced or at least helped with AI. It is safe to think of websites who can generate their own content. One will not be hiring writers or editors and the website can run at its own while helping generate revenue.

Dynamic pricing

Last on the list but very important feature a company can adapt is automate the calculation of price dynamically. It is a pricing strategy which many companies currently utilize, like flight bookings and even ecommerce sites, where the price of the product is dynamically determined based on the analytics of demand or supply.

Salesforce Artificial Intelligence in Customer Service

Customer services and their experience is one of the top priorities for companies to focus on. Managing existing customers to be happy with their experiences with the company can many times be more fruitful than finding new customers. Here is how AI helps businesses with customer support.

Improved Customer Satisfaction

Using AI bots for customer support as customer service agents with the capability of handling many tasks is revolutionizing the relationship between customers and companies. From handling various tasks, interacting with potential customers, or troubleshooting, companies are finding much value from AI powered bots 24/7 and without human efforts.

Customized user experience

Analysing customer data and tailoring products to their users are also becoming a needed add on to many competitive companies. Earlier, the recommendations to the customers were done through general categories like Top 10 or most liked. However, now it is based on the likes of the customer, this way customers have a personalized experience and the chances of the product getting sold maximizes.

How Salesforce Einstein helps in AI solutions for your business

Salesforce’s Sales Cloud Einstein model helps companies achieve their business goals with multiple AI solutions. It features quick, AI-generated insights to predict the likeliness of an outcome, provide recommendations, and automate tasks. Salesforce Einstein has several use cases across Sales Cloud, Marketing Cloud, and Service Cloud for respective business areas. There are various features like Predictive Lead Scoring, Opportunity Insights, Automated Reminders, Account Insights, etc. to suit a long term goal or to help with the daily activities done by the sales teams, marketing teams and service agents.

Einstein Bots

These are chatbots who can be trained to deal with customer queries and direct them to the correct place. Many companies who have included chat bots in their customer service have top queries solved by the chatbots mostly. The Einstein Bot builder is a drag and drop or point and click configuration tool that allows to build dialogs in a bot. It supports different types of tasks that can be configured in a dialog. You can Ask Question to gather information, and Send Response to return the output to the chat window.

Einstein Prediction Builder

These are tools which support some of the major Einstein functionalities like Opportunity Scoring. One can begin with choosing the entity (salesforce object like opportunity object), then as the next step, can decide if the focus should be in the segment and provide an example for the algorithm (Einstein) to learn from. Every company and its org is unique and has different demands and handles slightly different functionalities, one can decide what set of data to use.

Einstein Vision

This Salesforce provided service is an API that can be integrated with an app to harness the power of image recognition. Which allows anyone to AI-enable their apps. These API classifications are pre-built, however, these can be customized by training these with personalized app specific data. The services included in the API are: Einstein Image Classification for image classifications, Einstein Object Detection for recognition of multiple different objects and Einstein OCR (Optical Character Recognition) to detect alphanumeric characters from an image.

Einstein Discovery

It is an AI-powered algorithm driven tool that enables business entities to automatically discover relevant patterns by analysing the data and without having to build sophisticated data models. Einstein Discovery in one hand explains patterns across millions of rows of data in minutes, including patterns spanning interactions of inputs and in the other hand helps users find insights. Users will understand what is happening, why it is happening, and what their next action is. It is always available to quickly go through huge amounts of data to find relevant patterns and make correct predictions.

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