As businesses become more comfortable with the adoption of AI, the demand for white label AI increased. White label Artificial Intelligence is the practice of customizing AI systems to be a value add for a business. This ensures that AI is configured to support business systems and works as a solution to improve the margins of the business.
Technological advances have redefined the way business is done across industries. To keep up, many businesses have undergone digital transformations and adopted technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to augment operations. In the new era of work, technology dictates business performance which has been greatly impacted by the recent COVID-19 pandemic. As the business world went remote, a poll indicated that 80% of C suite executives want AI to be implemented in their organizations and most of these executives did not know how to go about the process.
Benefits Of White Label Artificial Intelligence
There are numerous benefits to adopting AI technologies into business operations. Not only does AI improve profit margins but it increases the amount of work a business does with customers. For example, banks have leveraged AI chatbots to manage service delivery. AI chatbots are available 24/7 to answer customer questions and perform basic account management without human error or inconsistency. The reliance on AI chatbots has improved the quality of customer service in banks where customer retention is a priority.
Other benefits of AI include the automation of repetitive and mundane tasks to enable employees to concentrate more on higher value add activities requiring human intelligence and ingenuity. Going back to the banking example, AI technologies automate the verification of account information and credit reports so by the time an employee touches a customer it is regarding a more complex transaction. When business systems adopt AI, they augment services and strengthen the quality of customer relationships.
Benefits Of A Customizable Microservice
One of the more significant benefits of businesses using AI is to gain a competitive advantage. At Scion Analytics, we realized the tremendous potential of AI in the business sector with the introduction of the Content Analytics Platform (CAP). The CAP leveraged AI and ML technologies to create a customized microservice for a business that would automate processes. Scion Analytics use cases have found that each time a client uses 1 microservice for every use it saves the client 8 hours. When 8 hours is saved in tangent with 30 employees at the same time, 240 hours is saved per use.
The creation and customization of microservices contribute to the presence of white label AI in a business. Automation helps businesses improve existing products and processes as well as drive innovation. As a result of the exploration of data analytics and the application of white label AI, businesses make progress towards innovation. As businesses leverage new insights and make actionable data-driven decisions, they free up the operational bandwidth to successfully innovate.