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AIROI - Artificial Intelligence Return on Invest: The AI strategy for decision-makers and managers

12 September 2024

Opportunity mining through AI (Glossary)

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Opportunity mining through AI is particularly at home in the areas of artificial intelligence, big data and smart data as well as digital transformation. The aim here is to use artificial intelligence (AI) to discover new opportunities, trends and potential for companies.

Think of opportunity mining with AI as a digital treasure hunt: AI systems analyse huge amounts of data, recognise patterns and find hidden opportunities that are often overlooked using conventional methods. This can help, for example, to find new target groups for a product or to tap into previously untapped markets.

An illustrative example: an online retailer uses AI opportunity mining to better understand the purchasing behaviour of its customers. The AI discovers that many customers buy accessory products together with a certain main product at the weekend. With this knowledge, the retailer can create targeted offers and increase its sales.

In summary, opportunity mining using AI enables companies to react more quickly and in a more targeted manner to changes and recognise growth opportunities at an early stage.

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