According to a French computer scientist Yann Lecun: “Our intelligence is what makes us human, and AI is an extension of that quality.” This statement is completely appropriate in today’s era of the tech revolution. Artificial Intelligence (AI) is transforming the entire way in which businesses operate and function.
As an entrepreneur, you can definitely take advantage of this cutting-edge technology irrespective of the domain in which you are doing business. AI is equally beneficial for industry giants, small enterprises, as well as budding start-ups.
There is no need for you to invest a million dollars to develop your own Artificial Intelligence app, but by partnering with one of the best AI development companies you can use plenty of opportunities to empower your business by leveraging AI. Let’s explore the top five ways in the article.
1. Smart Analytics
One of the most striking potentials of AI is its great analytical strength. With the help of different AI software solutions, you can easily assess the available data on how well you are serving your customers and can formulate suggestions and policies so that to improve the current state.
An experienced AI consulting company can help you to streamline numerous complex business processes and uncover insights that may not have even been considered before. For instance, an eminent American cloud computing company Salesforce has made one of its AI platform available which is named as Einstein Analytics. It can be used to perform data analysis tasks in a more economical way than IBM equivalent.
By using all such AI-powered products and solutions, you can easily save a lot of your precious time and energy while your business grows past the product market fit stage. The AI platform is expected to make analytics much easier and streamlined for most of the enterprises so that they can work on the valuable insights and can enhance their efficiency, productivity, and customer relationship.
2. Seamless Marketing & Sales
Quality marketing is mandatory for every business to grow and the AI technology can even help you in this regard. There are different AI-powered platforms available in the market such as Acquisio and Bookmark which utilizes the power of this advanced technology in order to create targeted customer messaging.
This technology can also be used to quickly deliver data related to customer behaviour and demographic details. For instance, platforms like Adext AI has found a way to discover the best audience or demographic group for any ad by applying AI and Machine Learning to digital advertising. In addition, with the help of Google’s Attribution, evolving businesses can easily get a better understanding of their customers by analyzing all the data at one place.
3. Efficient Customer Service & Support
Customer service and support is one of the major factors that affect the goodwill of an enterprise. It was found by the 2016 Microsoft State of Global Customer Service, that almost 60% of consumers completely abandon a brand because they have one bad customer service experience.
Customers don’t have time and they get frustrated if they have to interact with an unintelligent machine or being forced to beat around the bush before they reach the expert they actually need at that point in time.
This problem is getting resolved to a great extent with the help of AI-powered chatbots. Industry giants like the Wall Street Journal and Starbucks are already using smart chatbots in order to deal with customer queries and concerns efficiently.
These chatbots are ideal for evolving businesses as they can assist customers by recalling information from past interactions and offering detailed knowledge of your business processes. Also, they can read and analyze the available customer data and provide you with smart insights so that to help your customers in a better manner.
Let’s take an example of a live chat engagement and AI software Nano Rep. It facilitates seamless integration of your customer support with other resources such as Magneto, Zendesk, Salesforce and make you available on most of the major messaging platforms like WhatsApp, Slack, Facebook Messenger, Skype, etc.
4. Well-Organized Administration
The administrative processes and tasks are time-consuming and mundane. But nowadays, these tasks can be easily performed with the help of AI-powered tools and solutions. For instance, with the help of robotic process automation (RPA), advanced software solutions can easily access multiple systems and facilitate smooth transactions and transferring of data.
Most of the time of the small business entrepreneurs gets wasted in resolving different administrative issues. But these AI-powered solutions can help them save a lot of time, money and energy by performing most of the repetitive administrative tasks efficiently.
5. Ease Of Managing Finance & Accounting Tasks
A business has to deal with tedious finance and accounting tasks so that to keep a proper track of their finances and monetary resources. AI has made the lives of your staff easier by introducing advanced AI-powered solutions that are capable to perform these functions efficiently.
According to a report in Forbes, Accenture has made a prediction that almost 80% of the entire finance and accounting tasks will get automated in the coming few years. For example, KPMG has adopted innovative solutions from McLaren Applied Technologies in order to streamline their audit process.
Tools such as Reach Accountant help companies to perform all their accounting tasks smoothly by letting employees across all the departments work harmoniously at the same time.
6. Streamlining The Human Resource (HR) Department & Its Related Activities
The basic HR tasks of recruiting, interviewing, and onboarding are very lengthy and tiresome. But these tasks can be made much easier with the help of different AI-powered tools and solutions.
For example, a SaaS product which is called the Restless Bandit, helps to automate the entire task of screening applicants in bulk, filtering out potential candidates, reaching out to them, and scheduling face to face interviews. This reduces the workload of the HR representatives to a great extent and helps them in easily finding the best talent from the market.
Thus, AI-powered tools and solutions can be a blessing to your business that you can use to improve your customer relationship, renovate inefficient processes, and offer innovative opportunities for growth and evolution.
Anubhuti Shrivastava is a content crafter at Arkenea, a custom software development company helping entrepreneurs and businesses build successful web and mobile apps. She is passionate about writing articles on topics related to design and the software development industry.