How ML instruments is changing our live

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Many financial companies are looking for a new way to raise efficiency, improve customer service, and increase sales. High information technology offers diverse tools for solving complicated business problems.

Customer personalization

Today companies know everything about customers: birthday date of a favorite dog, customer preferences, purchaise habits, and interests. A lot of information is taken from the social nets. Without the assistance of IT specialists who process huge masses of data to join them into cohorts of similar patterns, there were no chance to implement personalization so deeply. Now we have SaaS and  special platforms to spy and advertise using ML technologies.

 A good example of personalization is a special discount or gift on a Birthday.

One more example I wish to share  is a new car feature. The one, which controls the driver’s reactions and the level of stress to prevent the tiredness, and warning the man to stop and have a rest. Within BMW If a car sensor understands that a driver is tired it will change temperature, music and even light in the car. Attention and concentration will become better.

Zero thinking experience.

Today, many technologies and services are focused on zero thinking trends such as contactless payment, prepared samples of order, delivery services and others.

For instance, American company Panera sells subscriptions for coffee. The first three months are free, then 9 $ per month for unlimited access to premium coffee. You don’t need waist your timeon payment details, reading dozens of screens , or doing the choice several times. Zero thinking experience makes the life of customers easier.

And customers are ready to sign a year contract or maybe a contract for a longer period.

Chat-bot.

Chat-bot is an automatic system for interaction with customers. In other words, this is an algorithm, robot which can help customers solve different issues, for example, process orders, take requests, cancel or accept delivery. This instrument will help you improve communication between your business and customers.

The bot can use text or voice or a combination of voices.

Chat-bot helps to solve two big groups of tasks. Firstly, it will help increase conversion and sales. This is an algorithm for interacting with potential and existing customers. The goal of chatbots is to increase sales. Secondly, it will help customer support service and decrease costs. Such algorithms answer to type questions and help customers resolve their problems

Chat-bot can be useful in case

  •  if you wish to optimize the call-center work;
  •  if your business works 24\7 without holidays and weekends;
  •  If your company wishes to scale your business;
  •  If you wish to increase the customer’s satisfaction with just- in-time support.

Chat-bots cannot replace real consultants. But It can solve many standard problems, and you can combine chat-bots with real people.

Augmented reality.

Augmented reality is a marketing tool that helps companies to provide customers with a realistic shopping experience.

Customers can try a product with a special app before buying. For instance, Ikea Place can help you see how the product will fit in your apartment.

If customers of online shops want to make sure clothing would fit them they could use this tool. For instance, Gucci has a special application. Customers could try new models in real life. They only need to point the camera of smartphones down on their foot and choose digital layers from 19 different snickers in their foot. The application also allows taking pictures and then sharing them on social web sites. You can also try clothing of different colours without changing it.

With augmented reality you don’t need to go to the shop. You can try a particular product virtually.

Additionally, reality helps engage customers. It will change the process of spending money into a bright emotional experience. Moreover, it will create a strong connection with a particular brand.

Blockchain.

Today, blockchain is among  the technologies, which is growing rapidly and streamlining the business.

According to experts, this system can contribute to the development of cybersecurity, as well as help to qualitatively improve many areas of human activity.

All the information is stored within multiple nodes. A significant advantage of blockchain is that one person cannot delete or change information from the distributed base. Users can only add information. So, to verify the data is becoming very simple, while to change it is nearly impossible.

Blockchain applies in areas such as finance operations, identification of users, and is widely involved in cyber security. Many banks and financial organizations wish to utilize it in the nearest future, just the official approval from the government is needed. As there are still many countries, which do not accept blockchain financial operations as the legal ones.

Blockchain allows business entrepreneurs to manage business more effectively and transparently, dismissing the middleman. It will help to increase public trust. This technology applies in education, healthcare, and procurement.

Probably blockchain will be used for transparent delivery of vaccines to patients from producers directly. Technology can provide information about the movement of medicine and also guarantee their authenticity and the absence of falsifications at any stage.

Conclusion

Progressive technology helps businesses to solve complicated  tasks.Digitalization of the business world is the main tendency in 2022. Experts believe that in the next year technology will continue constantly evolving.