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Artificial Intelligence and its Application in Business

By May 7th, 2024May 14th, 2024No Comments
Artificial Intelligence in Business: image generated by Tess AI of a woman with short hair, wearing a blue suit.

Artificial Intelligence (AI) has emerged as a transformative catalyst for countless industries, promising to revolutionize the way companies operate. Its functionalities are innumerable and it can act in many fields, such as digital marketing.

This article explores the impact of AI on modern companies, from optimizing processes to creating personalized experiences for customers. 

As we dive into this dynamic universe, we'll examine how generative AI is becoming an indispensable tool for boosting efficiency, innovation and competitiveness in business. Read on to find out more!

Artificial Intelligence and Generative AI: Understand the Difference

Artificial Intelligence is a branch of computer science that simulates human intelligence in machines, enabling interactions between systems and learning from experience. To work efficiently, AI depends on complementary technologies such as natural language processing, speech recognition and machine learning.

A common example of AI is the customer service chatbot, which speeds up tasks on a large scale by simulating human service and reducing working time.

On the other hand, generative AI differs from traditional approaches by using deep learning models to understand the essence of a data set and create something new. 

It's not just a "creative machine", but a technology that combines advanced machine learning with patterns and nuances in the training data to produce relevant content.

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Generative Artificial Intelligence, Technology Trends

Generative AI currently stands out as one of the main trends in the world of technology and a lot of observable data can be highlighted to validate this information:

1. The impact of generative AI on productivity could add between 2.6 trillion dollars and 4.4 trillion dollars annually, trillions of dollars in value to the global economy. 

2. Around 75% of the value that generative AI use cases could offer falls into four areas: customer operations, marketing and sales, software engineering and R&D.

3. Generative AI has the potential to change the anatomy of work by increasing the capacity of individual workers and automating their activities, which today absorb 60 to 70 percent of production time.

4. It is estimated that half of today's work activities could be automated with AI between 2030 and 2060, with a midpoint in 2045.

5. Multinationals are investing in AI Reskilling for their employees, as in the case of SAP, which announced a restructuring affecting 8,000 of its 108,000 employees with an investment of US$2.2 billion focused on incorporating more Artificial Intelligence into its operations.

6. 68% of employees who use ChatGPT don't tell their employers, running the risk of sending confidential documents, spreadsheets and emails to training AI companies.

Sources: McKinsey. The economic potential of generative AI: the next frontier of productivity. June, 2023; StartSe. Why SAP announces AI reskilling for 8,000 employees. Jan, 2024; BBC. The employees who secretly use ChatGPT at work. Nov, 2023.

Meet Tess AI, Pareto's Generative AI

Artificial Intelligence in Business: image from the Tess AI website

Tess AI is the 1st Artificial Intelligence that connects you to the world's largest AIs. There are over 200 AIs to perform everyday functions. 

With the combined power of leading AIs such as ChatGPT4, Dall-e 3, Stable Diffusion 3, Ada, Bard, Llama, Google Gemini, MidJourney and others, along with exclusive Tess AI models, you can optimize your time with efficient projects.

Tess offers a variety of essential features. Check out some of them:

Chat: easy integration into various business areas for different purposes, such as creating sales emails and analyzing data, with a trainable chat with guaranteed data security.

Images: use of advanced models and connection with consolidated models to create images with the organization's style.

Editing: AI tools to speed up the designer's work, including background removal, face swapping and image editing.

Audio transcription: fast and accurate transcription of audio to text in any language, making it easier to analyze meetings and agendas.

Creation of AIs: the possibility of standardizing and creating your own AIs for the team, promoting speed and cohesion in communication standards.

Professional Community: access to global use cases, a community of content creators with AI and models shared by other professionals, broadening the team's repertoire.

Recently, G2, which operates as a global forum, compared image-generating software with AI to identify the best products, using reviews from the user community and online data. 

In this sense, the second easiest software to use, according to the survey, is from Pareto - Tess AI, which obtained a rating of 4.8 stars out of 114 evaluations. It stands out in aspects such as competition, leadership, performance, market presence and user satisfaction levels.

Tess AI's Business Plan offers access to a variety of advanced features for $20 or $100/month, depending on the currency. It includes several features, including advanced AI steps. This plan is ideal for companies looking to maximize the potential of AI in their operations and business strategies.

Examples of Generative AI

Now that you know what this technology is, here are some examples to better illustrate how useful it is for various companies.

Text generation:

When generating text with AI, the user provides a prompt, which is a description of what they want the text to cover. For example, the prompt could be "Write a summary about artificial intelligence".

The AI then uses this prompt as a basis to automatically generate the rest of the text, following the style and content indicated by the user. This allows the AI to create complete texts, from articles to stories. Check out how fast this process is!

Artificial Intelligence in Business: briefing for a blog article

Image generation:

In image generation, AI uses generative adversarial neural networks (GANs). A GAN consists of two neural networks competing with each other: the generator and the discriminator. The generator creates synthetic images from a random input set, while the discriminator tries to distinguish between real and synthetic images.

With training, the generator learns to produce increasingly realistic images that fool the discriminator. Check out the images of different styles that Tess AI generated in a matter of seconds!

Video generation:

Video generation can be achieved by combining image generation techniques with the ability to predict movement and transitions between frames. For example, an AI model can be trained on existing videos to learn movement patterns and the temporal structure of a video.

It can then be used to generate new synthetic videos based on this learning. Check out Sora, a generative artificial intelligence model developed by OpenAI.

Code generation:

Code generation employs code-specific language models trained on large source code repositories. These models are able to understand the structure and syntax of the code and can automatically generate code snippets based on descriptions or specifications provided.

For example, an AI model can create a sorting function in Python based on a set of input data. Below, you'll see Tess AI writing a code in Python that calculates the average of a list of numbers. Check it out!

Language translation:

Language translation uses neural machine translation models, which are trained on pairs of sentences in different languages. These models learn to map sentences from one language to another, taking context and semantics into account.

For example, an AI model can automatically translate a sentence from English into Spanish, while maintaining the meaning and grammatical structure. See below the translation of the poem "No Meio do Caminho" by Carlos Drummond de Andrade, by Tess AI.

What Are the Applications of Generative AI in Business? 

Generative AI offers a number of benefits. We've listed some of the main ones:

Creating Authentic Content

Generative AI algorithms have an incredible capacity: they can create new and interesting content, often as good as that made by people. This has several important advantages.

One is that generative AI makes content creation easier and faster, which is great for both individuals and companies. This is especially useful in areas such as marketing and entertainment, where we constantly need new material.

Another important benefit is scalability, as generative AI allows companies to produce more content without having to hire more people.

Personalized Content Creation

Generative AI can create tailor-made content, such as product recommendations, music, art and even texts, based on the preferences of the target audience.

Simply describe a prompt containing relevant information about your audience, and Generative AI will take care of everything else, from producing blog articles to generating images for ads, always adapting to the style and tone you want.

Efficient Data Processing

Another notable benefit of Generative AI is its efficiency in data processing. This technology speeds up the processing of large data sets, enabling faster analysis and the extraction of valuable insights in various areas, such as scientific research, finance, health, etc.

In scientific research, Generative AI makes it possible to analyze and interpret complex experimental data quickly, boosting scientific discovery. 

In finance, it is used for real-time market analysis and fraud detection, speeding up decision-making.

In healthcare, Generative AI speeds up the analysis of medical images and improves diagnostic accuracy, contributing to faster and more accurate diagnoses.

Improved User Experience

Generative AI has the ability to personalize user interaction, adapting content and services according to individual preferences, making the experience more relevant and engaging.

For example, on streaming platforms such as Netflix, AI is used to analyze a user's viewing history and preferences.

Based on this data, it can generate highly personalized recommendations, suggesting films and series that are more likely to attract the viewer's interest.

Saving Time

The automation of repetitive tasks such as content creation, data analysis and even copywriting can be easily automated with Generative AI, contributing to greater efficiency in different sectors.

This is undoubtedly a valuable tool for saving time and resources, allowing people and organizations to focus on more productive and creative activities.

Security Enhancement

Security enhancement is yet another crucial benefit provided by generative AI. Especially in the field of cyber security, generative AI plays a key role in identifying and mitigating threats.

For example, in the generation of complex passwords and encryption keys, making it more difficult for attackers to access protected systems.

Complex Problem Solving

Generative AI is a crucial tool in solving complex problems in areas such as climatology, materials science and engineering. It helps with climate forecasting, speeds up materials research and optimizes product design, contributing to significant advances in these disciplines.

Its ability to analyze large volumes of data and identify subtle patterns allows it to tackle challenging issues more efficiently and effectively.

Machine Learning for Predictive Models

Machine Learning has been instrumental in predicting crucial customer behaviors, such as churn, where algorithms analyze data such as purchase history and interactions to anticipate possible exits.

In addition, customer segmentation also benefits from this technological advance, allowing for a more refined approach based on specific behaviors, which enables more targeted and effective strategies. 

These applications not only allow companies to identify areas of risk and opportunities for growth, but also enable proactive actions to retain customers and boost engagement.

Using Generative AI to Analyze Comments on Social Networks

The application of Generative Artificial Intelligence to the analysis of comments on social networks offers an innovative approach to understanding sentiment and trends. For example, AI algorithms can examine large volumes of comments to identify patterns and nuances in user opinions. 

This not only helps companies to better understand the public's perception of their products or services, but can also inform more effective marketing strategies and improve online reputation management.

This use of Generative AI not only simplifies data analysis at scale, but also opens doors to valuable insights that drive informed, audience-driven decision-making.

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Different Areas where Artificial Intelligence is Applied

Here are some of the most promising applications for sectors that can make the most of generative artificial intelligence.

Marketing

AI in marketing can be an operational ally, allowing professionals to focus on creative and strategic aspects. Check it out!

  • Creating Personalized Content: an AI can generate engaging texts for advertising campaigns, as well as content for websites and blogs. This allows for more effective communication tailored to the target audience, increasing engagement.
  • AI-Assisted Design: generative AI tools can speed up the creative process for designers, enabling rapid prototyping of images and layouts. This optimizes production time and encourages innovation.
  • Video to Text Transcription: automatic transcription facilitates the search process in a project and can be applied to the SEO of audiovisual content, making it more accessible and easier to index in search engines.
  • Advanced Data Analysis: AI can analyze complex data with high precision, identifying trends and consumption patterns. This allows for more assertive decision-making and more targeted marketing strategies.
  • Campaign optimization: using AI, it is possible to test and optimize campaigns in real time, adjusting them to maximize return on investment and relevance to the target audience.

Programming & Tech

Tess AI is revolutionizing the field of technology by offering advanced features that accelerate and enhance software development. Here are some of the main benefits and functionalities:

  • Integration with Leading LLMs: using models such as ChatGPT-4 and Google Gemini, Tess AI achieved 84.9% effectiveness in HumanEval, a benchmark for evaluating AI programming skills.
  • Code generation and debugging: facilitates writing code and correcting errors, providing a more agile development environment that is less susceptible to failures.
  • Real-time code analysis: with Tess AI, programmers can perform detailed code analysis almost instantly, quickly identifying and resolving the most complex problems.
  • Fixing JSON codes: correct JSON codes using a formatted template, saving time and reducing errors.
  • Flexible debugging assistance: users can choose from the main LLMs to obtain personalized debugging assistance.
  • Web Scraping: Tess AI allows information to be extracted from any website effectively, collecting data without the need for overt manual intervention.

Commercial and Customer Success

AI is an indispensable tool for improving sales and customer success teams. Choosing a suitable platform such as Tess AI can provide more autonomy and efficiency, as in the cases below:

  • Sentiment Analysis: Tess AI can examine the tone and sentiment of emails sent by the customer, identifying signs of dissatisfaction or potential churn. This enables proactive action to resolve these issues before they negatively affect the customer relationship.
  • Service Feedback for Teams: AI can offer immediate feedback on team members' communication skills during live interactions or through analysis of recordings. This helps improve communication techniques and customer service effectiveness.
  • Anticipating Customer Needs and Objections: using historical data and behavioral patterns, AI can predict customer questions or objections, bringing predefined answers and solutions. This not only speeds up service, but also increases the ability to boost satisfaction and retention.
  • Creating Personalized Email Sequences: AI can also automate and personalize email sequences for lead nurturing, from attraction to conversion. This ensures that communication is relevant and timely.

Finance

AI is shaping the future of the financial sector by empowering teams with advanced tools for analysis and forecasting. See what AI can do:

  • Automation of Data Analysis: AI empowers the team with advanced programming and analysis skills, enabling the automation of complex data processing. This frees up professionals to focus on more strategic tasks.
  • Trend Forecasting: with the help of algorithms, you can develop customized solutions to forecast financial trends. These forecasts help you make strategic decisions.
  • Credit and Risk Analysis for New Customers: Tess AI enables fast and accurate analysis of the credit and risk profile of potential customers. Optimizing and maximizing revenue opportunities.
  • Financial Statement Analysis: AI tools such as the PDF reader can be used to analyze financial statements. Identifying patterns, discrepancies and opportunities that may go unnoticed in manual analysis.
  • Cash Flow Forecasts: AI can also create predictive models for cash flow, allowing you to plan your needs more accurately and manage resources appropriately.

Human Resources

In the Human Resources department, innovation comes in the way companies manage and engage their talent. Here are some of the main ways in which AI can transform HR management:

  • Attracting and Selecting Top Talent: with the help of AI, it is possible to analyze and predict the success of candidates based on data and behavioral trends, attracting talent that is more likely to succeed.
  • Recruitment and Onboarding Experience: AI can help create more efficient and engaging recruitment and onboarding processes, using algorithms to optimize selection stages and personalize the onboarding process for new employees.
  • Reducing Turnover and Cultivating a Collaborative Culture: tools like Tess AI can analyze internal data to identify factors that contribute to turnover, helping to develop strategies to retain talent and strengthen organizational culture.
  • Creating Job Descriptions and Recruitment: AI can assist in writing job descriptions that are not only attractive, but also optimized for the ideal candidate, using keywords and phrases that resonate with the target audience.
  • Onboarding schedules: facilitates the creation of detailed and personalized onboarding schedules, ensuring that new employees receive the necessary information and training.

These are just a few suggestions for further expanding the use of AI in various areas. Integrating AI strategically revolutionizes operational efficiency, decision-making and the customer and employee experience.

Conclusion

By adopting generative artificial intelligence in your company, you are not only embracing innovation, but also ensuring a solid competitive position in a constantly evolving business world. 

The ability to generate content in a creative and personalized way can not only optimize internal processes, but also captivate and engage your customers in entirely new ways.
Don't miss the opportunity to explore the unlimited potential of generative AI to drive your company's growth and success. Explore Tess AI and discover the different ways it can help you!

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