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Beyond Buzzwords
Manage episode 435548686 series 3556087
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Noteworthy Analytics
- Predictive Analytics: Using AI to predict customer preferences and recommend products, similar to Amazon's recommendation engine.
- Generative AI for Customer Service: Implementing generative AI to handle simple customer service questions, freeing up human agents for more complex issues.
- Fraud Detection: Utilizing AI to detect fraud in financial institutions and government programs like Medicare and MediClaim.
Episode Highlights
- ✅ Businesses often struggle with how to effectively implement AI despite recognizing its potential.
- ✅ AI can help unearth patterns in large datasets, such as identifying customer attrition trends.
- ✅ Partnering with universities can be a cost-effective way for businesses to explore AI solutions without heavy initial investment.
Episode Summary
In this episode of the Analytics for Humans podcast, Swathi Young, CTO of Allwyn Corporation, shares her extensive experience in AI and technology. Swathi discusses the enthusiasm among business leaders to adopt AI, despite the challenges in understanding and implementing it effectively. She highlights how AI can solve various business problems, from predicting customer preferences to detecting fraud. Swathi also emphasizes the importance of data reliability and the need for a step-by-step approach to AI adoption, including partnering with universities for research and development. The episode underscores the potential of AI to transform businesses and encourages leaders to embrace this powerful technology.
Notable Questions We Asked
Q: What are some common challenges businesses face when trying to implement AI?
A: Many businesses struggle with understanding the right tools and processes for AI implementation. They often need guidance to identify business problems that AI can solve and to develop a step-by-step adoption strategy.
Q: How can AI help businesses with customer retention?
A: AI can analyze large datasets to identify patterns in customer behavior, helping businesses understand where attrition is happening and what factors contribute to it. This enables targeted strategies to improve customer retention.
Q: What is the importance of data reliability in AI projects?
A: Data reliability is crucial for AI accuracy. Conducting a data audit to ensure consistency and transparency is essential. Reliable data forms the foundation for effective AI solutions.
Q: How can startups with limited data benefit from AI?
A: Startups can start small by focusing on specific use cases and gradually building their data. Partnering with universities for research projects can also provide valuable insights and resources without significant investment.
Q: What role does generative AI play in customer service?
A: Generative AI can handle simple customer service inquiries, allowing human agents to focus on more complex issues. This improves efficiency and customer satisfaction by providing quick responses to common questions.
Q: What advice do you have for non-technical entrepreneurs looking to utilize AI?
A: Non-technical entrepreneurs can leverage AI tools that require minimal technical knowledge. Platforms like Gamma.ai for presentations and website builders can help them integrate AI into their businesses without significant investment in technical resources.
Q: What are some upcoming trends in AI that businesses should watch for?
A: Businesses should look out for advancements in AI governance and tools to detect bias, improvements in image and video generation, and AI applications that offer tangible benefits, such as better traffic management and enhanced customer experiences.
Chapters
00:00 Intro
00:37 Meet Swathi Young: AI Technology Expert
02:20 Understanding AI Adoption in Businesses
05:02 AI Use Cases and Business Solutions
13:27 AI Readiness and Implementation Framework
23:55 Future of AI and Ethical Considerations
Listen on:
Add us on:
Follow Swathi Here-
Youtube : https://www.youtube.com/@swathiyoung5769
Tiktok : https://www.tiktok.com/@pinkintech
#AI #ArtificialIntelligence #TechForBusiness #AIImplementation #DataAnalytics #GenerativeAI #PredictiveAnalytics #BusinessTechnology #TechInnovation #AIinBusiness
11 epizódok
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