AI for Business Practice

 Literature on the subject of big data and AI is frequently very technical and

informatics-focused. This book sees itself as a transmission belt that trans-

lates the language of business in the spirit of potentials and limitations. At

the same time, the technologies and methods do not remain to be a black

box. They are explained in the scope of the chapters on the basics in such a

way that they are accessible even without having studied informatics.

In addition, the frequently existing lack of imagination between the

potentials of big data, business intelligence and AI and the successful

application thereof in business practice is closed by various best practice

examples. The relevance and pressure to act in this area do happen to be

repeatedly postulated, yet there is a lack of a systematic reference frame and

a contextualisation and process model on algorithmic business. This book

would like to close that roadmap and implementation gap.

The discussion on the subjects is very industry-oriented, especially in

Germany. Industry 4.0, robotics and the IoT are the dominating topics. The

so-called customer facing functions and processes in the fields of marketing,

sales and service play a subordinate role in this. As the lever for achieving

competitive advantages and increasing profitability is particularly high in

these functions, this book has made it its business to highlight these areas

in more detail and to illustrate the outstanding potential by numerous best

practices:

• How can customer and market potentials be automatically identified and

profiled?

• How can media planning be automated and optimised on the basis

of AI?

• How can product recommendations and pricing be automatically derived

and controlled?

• How can processes be controlled and coordinated smartly by AI?

• How can the right content be automatically generated on the basis of AI?

• How can customer communication in service and marketing be opti-

mised and automated to increase customer satisfaction?

• How can bots and digital assistants make the communication between

companies and consumers more efficient and more smart?

• How can the customer journey optimisation be optimised and automated

on the basis of algorithmics and AI?

• What significance do algorithmics and AI have for Conversational

Commerce?

• How can modern market research by optimised intelligently?