Through internal research, Applaudo has produced content of interest on AI that is available to its customers and other audiences on its website. There, the company has published general information on AI, AI application success stories, among others.

AI is a field of computer science that focuses on developing systems capable of performing tasks that would normally require human intelligence. It works through algorithms and mathematical models to process large amounts of data, identify patterns, and make decisions based on them.

In the business environment, AI is a catalyst for optimizing processes, boosting productivity, improving customer experiences, reducing risk and other innovative applications. "Applaudo, as a strategic and digital consulting firm, is a business partner that helps companies stay current, remain competitive and revolutionize business processes by increasing revenue and efficiency by innovating traditional ways of managing risk.

"In this era of digital transformation, data rules as the new currency of business and AI serves as the hub that connects different data points, uncovering hidden patterns to extract actionable insights", commented Cesar Bendeck, CEO of Applaudo.

"With AI-powered analytics, businesses gain a new ability to leverage the data available to them, transforming it into a strategic asset that drives informed decision making, predictive informed decision making, predictive analytics and personalized customer experiences", said Bendeck.

Some uses of Artificial Intelligence: customer service, fraud detection, anticipating market trends and more.

The opportunities for business growth by relying on AI are endless. For example, with predictive analytics, companies can anticipate trends and provide agile responses to dynamics.

Changing marketplace; AI-powered chatbots are ready to provide round-the-clock assistance, ensuring that all customer queries are addressed quickly, encouraging loyalty and repeat purchases; with automation of repetitive tasks streamlining workflows and leveraging valuable time for people to focus on high-impact initiatives.

It also supports effective risk management is also supported by enabling organizations to proactively identify, assess and mitigate potential threats such as fraud, cybersecurity breaches, market fluctuations, and compliance violations with accuracy and market fluctuations and compliance violations with accuracy and speed.

In banking, AI can be used for revenue growth (personalized product offers to customers with predictive analytics, financial assistants), efficiency gains (process automation, automated financial reporting), risk management (predictive credit risk modeling: data collection, preprocessing, feature selection, model validation and monitoring), fraud detection (regulatory transaction analysis, automates breach detection, real-time) and financial education (financial content, data analytics, virtual assistance and process automation).

In the retail industry, AI can impact revenue growth (increasing customer purchases, streamlining transactions, modeling customer behavior), efficiency gains (supply chain optimization, personalized shopping recommendations), risk management (supply chain risk mitigation, network monitoring and brand reputation), among others.

Investment in AI is increasing worldwide

In recent months, the use of AI has grown and has become a strategic partner to optimize processes, boost productivity, improve customer experiences and much more. According to the International Data Corporation (IDC), global spending on AI reached $154 billion in 2023 and will result in a compound annual growth rate (CAGR) of 27.0% by 2026.

As we enter 2024, most business leaders have recognized the need for AI and have already integrated it into their operations. In a survey conducted by McKinsey1 , 40% of respondents indicated that their organizations have integrated AI into their operations.

AI will continue to improve business operations and companies will need to incorporate it to remain relevant, efficient and effective in today's world.

Translated by: A.M