The landscape of information technology across the business world is changing rapidly. This is majorly accredited to organizations’ interests and moves toward digital technologies, particularly Artificial Intelligence (AI). It has the potential to improve business standards, help enhance decision making and streamline overall business operations. While the adoption of AI technologies has become a new business phenomenon, the relentless development of AI applications is creating a wide range of opportunities.
AI along with machine learning platforms can be implemented to assess and process extremely large data sets in a quick and accurate manner. These technologies hold the most promising applications and are steadily improving over time as they ingest more data. In the context of location intelligence, AI can be used to create highly complex models or algorithms using big data technologies with a high level of precision. These algorithms can then be leveraged to take effective action or deploy a solution.
Significantly, location Intelligence is used to deliver integrated and personalized products and services to customers. Using it assists enterprises to optimize business decisions, from interpreting the best area to create opportunities for advancing the supply chain to crafting engaging marketing campaigns. Location intelligence simply equips businesses with the right information, so they can easily understand their customers’ preferences, make more-informed decisions and foresee future innovation areas. These interpretations also help companies to deliver products and services to customers.
Combining artificial intelligence and machine learning with location intelligence enables business leaders to drive strategic initiatives such as market growth, customer engagement, asset tracking, site location and risk mitigation, among others. AI and location intelligence can also unfasten patterns and trends that help businesses realize their markets.
While leveraging together, the recent technological advancements have brought AI and location intelligence in a hybrid ecosystem called GeoAI (Geospatial Artificial Intelligence). This refers to an emerging scientific discipline which consolidates innovations in spatial science, AI methods in machine learning, data extracting, and high-level computing to derive knowledge from spatial big data.
When it comes to making real-time business decisions, AI can be an essential component of any business strategy. And incorporating it with location intelligence gives the ability to a company to understand the real-time conditions and locations of its assets and other core business needs. By using GIS (geographic information system) technology, companies can supplement the context of location and time and will be able to monitor their business site by considering how visitor traffic fluctuates all through the day and by unveiling insights that can power staffing, promotional campaigns, and more.
GIS technology can also help create a training data set of previous events with details on the location, time, and other conditions. Through this, enterprises will be able to answer questions at pace, displaying reachability and demographics on maps and dashboards. Therefore, AI and location intelligence can provide businesses with benefits of unlocking patterns and trends that help them understand their markets.