As a business leader, you’re always looking for new ways to innovate. The world around us is changing fast, and if you don’t keep up, then you’re going to lose customers. Which means they’ll quickly become loyal to another business that managed to be innovative before you were. Even if you’re selling the best products and services, you know that’s not all it takes, which is why you’re always working hard on your presence online, posting on social media, blogging, and getting back to customers when they have questions or reviews. And now, you’ve been thinking about using AI.
The fact is, AI is the future of business, and it’s going to soon change from being something cool large companies use to a necessary tool for any entrepreneur. So the sooner you learn how to use it, the more successful you’ll be. No matter what industry you’re in here are just a few of the ways AI can transform your business.
1 You can create better ads
Any marketer knows how important it is to know your audience. That’s why you’ve spent so much time building up customer personas, surveying your current customers, and researching new potential leads like Gen Zers. But with AI, you’re going to have even more knowledge: specifically, about which ads work best with each segment of your audience.
According to Inc.com, “In the fourth quarter of 2017, Facebook generated over $12 billion in revenue, which is a steady increase over prior years. A major reason for Facebook’s success is thanks to the platform’s ability to use artificial intelligence to identify the right audience for a given ad. The technology that undergirds many of Facebook’s ads is known as ‘lookalike audiences.’ Marketers provide Facebook with a list of their best customers. This information includes customer email, phone number, and address. Then, Facebook’s machine learning software builds similar audiences for its ads based on all that data.”
So if you’re paying for advertisements to appear on Facebook, you’re in luck. This technology is going to reach your best potential clients, without you having to analyze the data at all.
2 You’ll have faster, more reliable customer service
One of the first things we think of when we think of AI is, of course, a robot. And if you’re in the business world, the next mental image that comes to mind is a chatbot. We use them all the time, and they’re useful for any business because they give the impression that the business is available 24/7. And in a world where consumers are spending five hours a day on their phones, it’s an important impression to give. You know how important customer service is when it comes to retaining customers.
And it’s AI, according to Entrepreneur.com, that’s going to empower business with solutions that improve customer service: “AI solutions like Digital Genius, for example, can suggest or automate answers, and classify tickets and messages to quickly route them to the right team, freeing up your support agents’ time for dealing with issues which require human engagement. By using AI in their customer service, small businesses can radically reduce average handling time and automate repetitive questions to reach the ultimate goal of improving employee and customer satisfaction.”
Of course, you’ll always need a person on the other end of the line eventually, to solve problems. But this will simplify your customer service processes significantly.
3 Hiring the right people
As a business leader, you know how difficult it is to hire the right people. Sometimes, even, you end up hiring the wrong people, only to end up with an unpleasant HR situation three months down the line. It’s a nightmare worth avoiding–and with the average cost per hire in 2017 being $4,000, better solutions save you money, too.
This is where AI comes in. According to infusionsoft.com, “AI applications can also be used to help businesses streamline their hiring processes and make smarter hiring decisions. Not only can HR leaders utilize these kinds of products to scan resumes and applications for keywords, they can also analyze applicant responses and profile information for culture fit and relevant experience.” This means that great applicants are no longer going to slip through the cracks, and you’ll get some awesome hires that you wouldn’t have even found before!
These are just a few of the ways that AI can transform your business. As it becomes more popular and more businesses use it, there will be even more benefits to you and your business.
What do you find most interesting about AI technology?