In 1597, Sir Francis Bacon observed that knowledge is power. At Accenture, we agree wholeheartedly. But we would add that today, the mere possession of knowledge isn’t enough. What matters is how the knowledge is put into action.
We are living in Knowledge Age, where entities that harness knowledge are better positioned for success. This thirst for knowledge has left corporations gallop data from all possible channels, making it more precious than ever before. No wonder some researchers say data is the next oil. But, like oil, it requires refinement—a distillation from its "crude" form into something that can fuel increased profits.
Companies are getting better at this, but to truly take advantage of this “business fuel”—or rich data—they also need to get better at parsing, understanding and simplifying their data—and integrating it into their end-to-end processes. This in turn enables businesses to know enough about their customers to take precisely the right action at the right time.
One company heading in the right direction, when it comes to optimizing on data, is Salesforce. Salesforce’s Einstein Platform Services®, for example, are aimed at solving the challenges organizations face by harnessing the power of data coupled with artificial intelligence.
@Salesforce Einstein Platform Services are helping businesses harness the power of data coupled with #AI to solve challenges
AI is a central player in this opportunity not only because it helps applications “think,” but because it helps organizations transition to being truly customer-centric. With companies now understanding that complete "knowledge of the customer" is pivotal to everything they do, AI helps them differentiate themselves from the competition.
Aside from AI, another necessity is a robust platform. Without the right platform, putting customer data into timely action across the enterprise becomes nearly impossible, given AI’s requirements for computing power. Fortunately, Einstein Platform Services handle the platform, the flexible integration and the need for industry specific refinements.
Harnessing the many facets of AI
When talking about the need for platforms, it’s important to note that AI is not a single technology. It’s a collection of computer programs, algorithms and mathematical techniques that work in tandem to classify and/or predict outcomes. The lesson here is that it’s vital for businesses to understand which areas of AI are relevant in creating a positive impact among their leads and customers. According to Gartner—and we agree—those include deep learning, natural language processing and computer vision. It is no coincidence that Einstein Platform Services employs all three.
In addressing individual industry needs with a higher degree of granularity while integrating with enterprise apps, Einstein Platform Services offers two core capabilities: Einstein Intent, Einstein Sentiment (collectively named Einstein Language) and Einstein Image Classification and Einstein Object Detection (collectively called Einstein Vision).
Actionable AI: Industry Examples
Computer vision is helping insurance companies improve customer experience in claims processing by, automating the assessment of vehicle damages, for example. More specifically, Einstein Vision API can train deep learning models with historic vehicle damage images, allowing models to classify the nature and intensity of the damage. Thus, insurance companies are improving customer experience by letting the customer upload pictures of a damaged vehicle.
In retail, Einstein Vision API can help shoppers seeking product information and related offers by simply scanning and clicking on images of something they like with visual search, rather than having to search the web. With one click, Einstein Vision does the object detection that makes life, and shopping, easier.
In addition, natural language processing is helping companies place customers at the center of their universe. Knowing the customer's sentiment about a product, service or brand helps companies maintain customer’s trust and reputation by providing powerful ways to tap into channels such as email, text, web, social and support cases. When combined with AI, AI can decipher subtle tones of happiness, frustration and neutrality, to then quickly recommend actions that make a difference. To get going quickly, Einstein Sentiment API enables enterprises to seamlessly embed sentiment analysis capabilities into their apps that can immediately provide the appropriate responses during customer interactions.
The beauty of understanding intent
Knowing what’s in the hearts and minds of customers helps companies understand what drives people to make specific decisions. For example, the propensity of a customer to buy a product or service can be deciphered by understanding the 'meaning' of social media posts, email or chat. To that end, Einstein Intent API makes it easy for developers to classify the intent behind the text and take appropriate actions, such as targeting the prospect as part of an email campaign based upon their reaction/ response to a social media post.
The bottom line
Though AI is now a household name, only prudent attention to the implementation of the correct platform will be rewarded. From our perspective, Einstein Platform Services is paving the way.