While artificial intelligence is in its early days of adoption in Latin America, about 58% of leaders in Latin American companies already believe that AI can revolutionize their businesses.
The biggest challenge to increasing the adoption of AI technologies is overcoming the initial skepticism and identifying the specific ways in which a company can incorporate data-based technology.
Understanding the numerous benefits AI can bring to a business can encourage leaders to welcome this new technology into their organizations. The market size and the diversity of industries in Mexico, in particular, present an excellent opportunity for these technologies to be applied creatively. It is time for Mexican companies to acknowledge and embrace the transformative power of AI to avoid widening the knowledge gap between Mexico and other markets.
How can businesses successfully integrate these technologies? Here are a few key aspects to consider:
Organized data management and storage
It can be easy to get excited about incorporating AI technologies into a business. However, without clean and organized data sets, these efforts will go in vain. A crucial step to any business’s transition to digital is data management.
Determining the databases that will be sourced and their treatment, such as classifying the relevant data to make it easily searchable, is the key to frictionless automation. Any implementation of AI technology will only be sustainable in the long-term if there is a strong data structure to support it. This means having high-quality data that can be easily accessed and correctly classified, as well as being extremely familiar with the legal implications of the use of that information.
Increase security and data protection
The pandemic has made it clear that businesses need to respond swiftly — and most importantly safely — to a changing landscape as companies undergo a marked digital transformation. The use of digital channels is still quite nascent, which means that cybersecurity becomes a concern, and rightly so.
Different technologies can be used for a safe and secure transition to digital. More than half of fintech companies (58%) cite fraud detection as their number one use case of AI. Another application is voice biometrics, which can be used to provide an additional layer of security to each digital transaction or payment.
Modernize customer service
Quicker responses, better services, and effortless experiences are what modern consumers expect from products and services in the digital age. The wealth of data provided by AI technologies enables businesses to gain a deeper understanding of consumer preferences. As a result, companies can use these insights to adapt omnichannel solutions for a more personalized experience.
Outstanding customer service can be a differentiator in a competitive market. Companies worldwide are trying to capitalize on this space by adopting chatbot technology as one of the primary means of communication with users. This type of automation, along with voice technologies, can help streamline processes in customer service and increase efficiency.
Analysts have discovered that 64% of consumers believe that the main advantage of voice assistants is 24/7 support. Advances in voice technology have made impersonal robot-like interactions a thing of the past. Voice assistants like Lili by Vozy operate using neural text-to-speech (NTTS) technology, which provides a more natural-sounding conversation with users. Additionally, voice assistants are constantly self-optimizing and improving interactions with users after analyzing responses from human agents through machine learning.
A successful integration
In these times of uncertainty, companies need to be one step ahead by being open to innovation and doing things differently. AI solutions can be the answer when searching for a way to optimize resources and increase productivity. And with any significant organizational change, it is essential to lay a strong foundation to best leverage the new technology.