AI For Sales
AI helps in areas like new business assessment and product recommendation
In financial lending, understanding a borrower’s loan-worthiness is key to business performance. AI is able to learn from the historical payment patterns of different groups of borrowers so as to make accurate assessments of credit risk levels for new borrowers.
This allows finance companies better tailor product offerings for different groups of customers as well as enhance loan portfolio risk management.
In retail, AI is being used to more accurately recommend products to customers that they would like. By analyzing their purchase patterns as well as those of other similar customers, AI is able to understand the preferences of customers and offer relevant product recommendations.
This helps retailers optimize their sales spending, improve conversion rates as well as reduce churn risks.