How Artificial Intelligence Is Changing the Leading Industries

According to Gartner, 25% of the top strategic technologies of 2022 will run on artificial intelligence (AI). AI comes with enhanced data collection and processing capabilities that supersede earlier technologies. For instance, scraping for sentiment analysis with AI-powered web scrapers is faster and more accurate than using a conventional web scraping tool.

An earlier survey by PWC indicated that 86% of business leaders were committed to adopting AI as the mainstream technology in their organisations. The report further revealed that while the initial costs of adopting AI were high, the technology paid off. Companies that had fully adopted AI in their operations reported better customer experience and improved decision-making. These firms saw a rise in product/service innovation, cost savings, and enhanced productivity.

So, how do top industries use AI to achieve these benefits? Read on to find out.

1. eCommerce Price Monitoring

Experts predict that global e-commerce sales will exceed $5 trillion in 2022 and hit $7 trillion. Over the years, the industry has seen steady growth, especially during the COVID-19 pandemic. With almost every retailer selling their products online, the competition is stiff. Sellers grapple with product pricing, customer sentiments, and SERP rankings. As brands strive to outwit each other, one thing is clear, only sellers with sufficient and accurate data will win this war and beat their competition.

One of the best ways to collect data is through web scraping. Unfortunately, Google data scraping with the average web scrapers in the market gets bogged down with inaccuracies, manual intervention, and search engine anti-scraping measures. AI comes with superior capabilities to process more data faster and has a higher success rate where conventional web scrapers fail.

Also, product prices keep on fluctuating. However, a reliable web scraper can monitor product prices on competitor sites and help retailers price their products competitively. Manufacturers can take advantage of AI scrapers and monitor their products’ prices at their distribution outlets. This way, it is easy to set predetermined prices.

One of the most trusted scrapers for sentiment analysis is SERPMaster – it delivers real-time data from Google and Amazon. To learn more how web scrapers help e-commerce companies, visit their website here.

2. Client Sentiment Analysis

Google data scraping is not limited to extracting price data on e-commerce sites. Leading companies use the power of AI to scrape large volumes of data to determine what customers say and think of their products and brands. Web scraping for sentiment analysis involves extracting customer comments and directions on social media posts and online reviews. It also targets news sites and collects headlines or content relevant to the company.

The beauty of using AI web scrapers is that they are fully autonomous and provide output ready for analysis. With these results, companies know which products the customers like or dislike. They can also gauge the level of customer satisfaction with their services. If there is a negative backlash on their brands, the companies get to know it early enough and set damage control measures in motion as early as possible.

3. Product Research and Development

Data scraping for sentiment analysis allows manufacturers to study the performance of competitor products. Such efforts often identify gaps they can exploit and improve their products to gain a competitive advantage over their competitors. Alternatively, they can develop new products that target specific market needs.

4. Improve Customer Shopping Experience

The user experience when using online platforms determines whether or not they will become return customers. For this reason, top brands make every effort to make a customer’s shopping experience better. Web scraping with AI allows online retailers to identify products bought together and offer suggestions to shoppers. This way, clients can find related products with ease.

In addition, AI-powered chatbots come in handy as effective customer support agents and reduce the cost of operation. They also ensure improved productivity because of their 24/7 availability. As AI customer support bots continue to get better, it is easy to offer personalised marketing depending on the customer profiles.

5. Enhance Customer Loyalty Programs

Industries such as travel and hospitality are highly affected by-product pricing. A slight difference in pricing can make the difference between remaining profitable or booking losses. One way these businesses retain clients is by providing incentives. It is not surprising that these industries offer some elaborate customer loyalty programs. With a large customer base, it is hard to track the needs of each customer and provide personalised offers.

However, travel companies can resolve this challenge by investing in AI technology. AI solutions can track customer behaviour autonomously and create personalised incentives depending on their needs. Such offers are likely to entice customers into buying travel plans and result in customer retention.

Final Thoughts

Leading industries in the market are increasingly adopting AI technology. They use it to improve productivity, sales, and service delivery. For instance, scraping for sentiment analysis allows brands to know customer opinions about their products. It also helps manufacturers identify product designs that they rectify to meet customer needs. Other applications of AI include price monitoring, loyalty program enhancement, and improved customer experience.