Every business owner is concerned with owning a prosperous business today. Here are some ways that AI can help you accomplish this.
Artificial intelligence (AI), machine learning and the Internet of Things (IoT) are important topics to discuss today as they’re growing increasingly popular throughout the business world. While AI is still a work in progress, we’ve witnessed some of its numerous advantages already. This is because we’ve already used it in ways we don’t even realize. For instance, did you know that every time you send a query to Google, you’re benefiting from AI? This is because Google is using machine learning to sift through queries and provide you with the most accurate responses.
Big companies aren’t the only ones benefiting from AI today – small businesses are too. Forbes believes that about 30% of businesses will use AI by the end of this year. Of course, it’s already being used in some small businesses who use apps like those that allow customers to automatically schedule their own appointments with them.
Of course, there are some reasons why people prefer AI over humans today. One of the main reasons being that AI makes processes faster, more accurate, and infinite. They don’t need a lunch break, vacation or sleep. Instead, they can work around the clock and provide consistent results the whole time too. With this in mind, here are some ways that AI can help you scale your business.
Anyone who isn’t using simple task apps needs to investigate this technology soon. There are various apps available to help you handle your business’ simple administrative tasks so your employees have more free time. While some people are afraid this technology will do away with jobs, there’s really no reason to have this pessimistic view point. Optimistically, this technology will simply save employees time and energy they can use to focus on tasks that require human thinking and creativity.
AI also increases businesses’ efficiency since it can handle processes like your workflow and supply chain. Put it to work doing the heavy lifting for you then conduct some analysis to identify and implement some strategies, where still need some improvement. Eventually, you’ll see that your resources are being used better as you witness your losses and cost of production decreasing the financial strain on your business. Forbes even says that by integrating AI into your business process management you can decrease your material needs for manufacturing by 4% while increasing your productivity by about 20%.
Many marketers appreciate the fact that AI can analyze data and create accurate buyer personas for them. This makes their job easier because it lets them market your company’s products or services to people who want or need it. In the future AI will help you match your buyer interests even more. It’s started with using Facebook’s ad network but it has no limits in the future. This is great because it’ll save you time – especially when you need to analyze data or conduct A/B testing.
There are lots of apps that rely on AI today to help you bring talented employees to work for you. This will get even better and save you even more money when it comes to hiring and onboarding new employees in the future. In this way it’s able to save you a lot of time – and a lot of heartache since you’re much less like to accidentally hire the wrong employees. AI is very beneficial here with the employees you already have because it can tell you which of your employees are best equipped to handle tasks that you already need help with. It can also help your HR department keep track of your employees’ attendance.
Many of today’s businesses already use chatbots to help customers find answers when their businesses are closed or their employees are taking care of other things. Voice AI can be used for customer service because it offers undivided attention when your customers are impatient and in need of your undivided attention, regardless of where they’re at in their buying journey. This frees up your employees’ time so they can focus on tasks that require human skills. They can also help you with clients who are in different time zones.
Assistance in Aviation
Many major international airlines find themselves struggling to keep up with logistics and customer interactions. This is because this is a business that interacts with millions of people each day both in real-time and on social media. It’s also an area in which AI can be very helpful – especially when it comes to the use of chatbots. These can provide customers with information and updates, including personal notifications.
Business Insights from Cloud Databases
Cloud databases contain large amounts of information – all of which is useless if patterns and trends are extracted and processed from it. AI helps quickly and efficiently mine for these unique “gems” of information.
Incorporating Automation in Business
AI has allowed for many repetitive tasks to be automated, which ahs revolutionized today’s business world. The only difference between industries is exactly where AI works. Nevertheless, AI is quickly automating routine business processes today so people have more time to focus on what they do best.
Personalized e-Commerce Experiences
Flat World Solutions says AI will conduct about 85% of all customer interactions by 2020. This means that humans won’t need to make phone calls, conduct chats, send e-mails, or leave social media comments anymore. This will vastly change e-commerce’s “face” in various ways since you’ll quickly gain a better understanding of your customers’ patterns regarding purchasing, credit, and other common threads. Since AI can analyze these things for you daily, your business can target offers to specific customers, resulting in a personalized experience for them.
AI will also help your sales team follow up on more sales leads instead of letting pre-qualified potential buyers fall through the cracks. This is a costly mistake since about one-third of leads aren’t followed up on today. With AI successfully retargeting your potential customers and helping your sales processes not be so time-consuming you’ll have more time to spend focusing on your customers and the different types of media that are influencing them today. Even here, if you integrate AI into CRM you’ll be able to craft customized solutions and sales messages that reach them at crucial times.
Guest article written by: Mila Jones is a Senior Business Consultant, with rich experience in the domains of technology consulting and strategy, she works with both established technology brands and market entrants to offer research inputs and insights on leveraging technology as a source of strategic competitive advantage. She is a prolific author and shares her expertise with tech enthusiasts on popular digital publishing platforms. Twitter: https://twitter.com/miilajones