In today’s modern society, artificial intelligence has plugged into how people and businesses operate every day. Though it is something we all hear about, few of us really understand or even know when we are encountering it. People constantly ask Siri for assistance with basic smartphone uses, ask for a chat with customer service reps online, relax at home with Netflix on, and use music recommendations to create the perfect playlist. All of this? Artificial intelligence. But if you are a business owner, you need to be utilizing AI technology in order to reach your full potential and keep up with competitors.
Here are some ways businesses are (or should be) using AI technology to get ahead.
No matter the size of your company, artificial intelligence can be used to help support your sales processes. AI can help your salespeople find important data, create calendar events for follow-ups and important deadlines, and even help via predictive forecasting. Especially if you are a growing company with a limited sales capacity, artificial intelligence can be your modern sales assistant.
Customer service can be tricky, especially because it is common for customers to share feedback only when they are unhappy with something. Often, this means even taking to social media or leaving a poor review publicly. Indeed, bad experiences with customer service interactions are much more likely to be shared than positive tales. Artificial intelligence can help catch red flags in customer data and correlations/sentiments that your customer service team can use to address a concern before it becomes a problem before another potential customer is put off. This could mean the difference between losing a customer/gaining a poor review vs. keeping your customer happy/excelling in customer service.
Freeing up human resources
AI helps free up human resources that are tied up in tedious tasks that could be easily solved by a machine. In today’s data-centric and technology-focused world, there is nothing that will be able to replace human-to-human contact. However, businesses can leverage AI to turn unstructured data into structured data, create useful dashboards from data analysis, provide basic customer support, and more. This way, the time of the employees will be freed up and they can focus on the tasks that demand human attention.
Overall, companies that are utilizing AI are able to improve productivity and make best use of the resources that they have. There are specialist companies that offer businesses help, guidance and software in order to allow them to utilize AI. For example, Expert System provides businesses with knowledge management systems so that businesses are not only able to collect and find all the data they have but are also able to put it all to good use. A knowledge management system makes the difference between having data but not knowing how to use it and leveraging the data you have to help drive your business.
As you reflect on how artificial intelligence could benefit your business, this would also be a good time to take a closer look at how your business currently functions. Luke Tang, General Manager of TechCode’s Global AI+ Accelerator Program explained, “There is an opportunity with AI to change the innovation and strategy part of the equation but, if they don’t have a well-established process already, it doesn’t make sense to do that for the company.”
Of course, a very small business, which simply does not have much data to collect, may not need to be using AI technology quite yet. However, those that are growing and receiving more and more information should be looking into artificial intelligence, or they risk falling behind.