Although some people are hesitant about “a robot doing their job,” innovation is key for the growth and success of small businesses in the modern age. That’s why so many companies have embraced AI for business. According to IBM, 35% of companies have incorporated AI into their business in some form, while 42% are exploring their options.
AI in business is a great way to boost engagement, improve productivity, and help your business grow. However, before we go on, make sure that you understand the difference between AI and automation. While AI mimics human behavior through machine learning, automation streamlines and simplifies routine tasks for humans at a basic level. At higher levels, it can even create hardware and software. The two terms are often used interchangeably, but in this article, we’ll be talking about AI.
Read on to learn about how you can fit AI into your business model and enjoy the benefits firsthand.
Why should I consider using AI for business?
If you’re still on the fence about taking the plunge, take a look at these perks of using AI in business.
1. AI for business reduces errors through problem-solving
Mistakes are an inevitable part of running any business, but AI can help you reduce human error. Since AI doesn’t get exhausted after a long night out or lose concentration on a bad day, it’s an excellent solution for reducing errors in the business world.
Through enhanced data collection and machine learning, AI can also keep an eye on details that might otherwise slip through the cracks and cause issues further down the line. Thanks to its ability to analyze and learn, AI can also solve most consumer-related hiccups.
2. You’ll enjoy enhanced customer service and support
AI can also easily learn what a user might like based on their browsing and purchase history and then provide consumer insight through product recommendations. A customer can view one product, and machine learning can give them better search results and boost satisfaction in the future.
In recent years, many businesses have also turned to chatbots for their front-line customer support needs. According to Forbes, chatbots are cost-effective time savers that reduce customer wait time. Unlike humans, they never have to sleep, so they offer around-the-clock support even while your team is away.
Chatbots can answer simple questions like, “What is the status of my order?” or “Do you sell shoes?” However, you can configure them to forward customers to an actual human if the question is more complex. They boost engagement by making customers more likely to ask questions, since clicking a chat button in the corner of the screen is easier for most customers than picking up the phone and waiting on hold.
3. Better employee management awaits
Have you ever looked through a pile of applications for an empty job role, only to feel more stressed than you did before you started? AI can help streamline the recruiting process for you by automating applications, collecting data on your responses, and learning your preferences for pre-screening.
AI can also help improve the environment for new and existing employees by promoting mindfulness. If you don’t know the importance of mindfulness in the small business world, it’s time to learn! Mindfulness in the workplace promotes productivity and a more positive work environment. By reducing workload and freeing up time, AI can help reinforce this very important concept.
4. Time saving and workflow optimization are simplified
According to Forbes, business owners who adopt AI-based technologies have more free time overall. Instead of focusing on routine details, you’ll be able to focus on the bigger picture. With more free time and less stress over meeting the next deadline, you and your employees may find collaboration comes naturally.
5. Potential for new revenue streams or products resulting from better monitoring and data collection
If you use AI to monitor production, collect data, and predict when an operation will need intervention or maintenance, you’ll be able to nip potential roadblocks in the bud. AI can also securely process massive amounts of data, giving you an solid foundation for new and improved methods!
Thanks to AI’s quality data collection, your teams can devote more time to brainstorming on new potential revenue streams or products. Instead of focusing on problems that AI can easily prevent, you could revolutionize your business with innovative new products and even brand-new revenue streams.
Time and productivity go hand in hand, so it’s no surprise that some AI-fueled businesses have seen a whopping 40% increase in productivity! Since you and your employees won’t be so wrapped up in small details, you’ll have the opportunity to get more done and think of fresh ways to help your business grow.
What are some ways I can implement AI for business?
Now that you know how AI can improve your workflow, let’s take a more in-depth look at some ways you can fit it into your marketing strategy. Keep in mind there’s no “one size fits all” option for every business. It’s up to you to decide whether these options are right for you.
Try AI writing services for your content needs
Imagine effortlessly interacting with your customers and sharing your brand vision without the time investment of writing blog posts and web content. AI has grown so accessible and advanced these days it can even write articles for you! Jasper AI is a popular option that many businesses are using. It creates original, SEO-friendly content that simplifies customer engagement. However, depending on the nuances of your industry and the complexity of your topics, this type of tool may not be suited for every business.
Use automation apps for social media
AI for business is a great way to up your social media game. Many helpful tools like HootSuite make life easier for social media managers and small business owners everywhere. HootSuite allows you to schedule social media posts across multiple accounts, so you don’t have to log in and go through the motions every time you need to make a post. Other tools, like IBM Watson’s search function and chatbots, boost engagement and satisfaction by enabling users to find what they need once they reach your website.
Smart devices to enhance your business
You can also use AI to amp up your business even if you work from home. Using smart home devices to improve connectivity and keep things running smoothly will save you more time than you probably imagined. You’ve probably already used AI, like voice control while gaming, if you’ve been working on decking out your secure smart home. When you think in business terms, AI has your back with the ability to connect IoT devices and optimize performance.
Since AI is so data intense and requires a lot of bandwidth to deliver its many advantages, a fast internet connection is a must-have for today’s businesses. You don’t want high latency or throttled bandwidth to compromise your optimized business model, making Quantum Fiber’s symmetrical speeds the ideal choice.
AI for business is a game changer!
AI for business is an innovative, cost-effective option for many entrepreneurs. Have you tried out any of the products we picked out in this article? Let us know in the comments! And don’t forget to check out our blog to stay in the loop about trending tech and the future of the internet!
Content Disclaimer - All content is for informational purposes only, may require user’s additional research, and is provided “as is” without any warranty, condition of any kind (express or implied), or guarantee of outcome or results. Use of this content is at user’s own risk. All third-party company and product or service names referenced in this article are for identification purposes only and do not imply endorsement or affiliation with Quantum Fiber. If Quantum Fiber products and offerings are referenced in the content, they are accurate as of the date of issue. Quantum Fiber services are not available everywhere. Quantum Fiber service usually means 100% fiber-optic network to your location but, in limited circumstances, Quantum Fiber may need to deploy alternative technologies coupled with a non-fiber connection from a certain point (usually the curb) to your location in order to provide the advertised download speeds. ©2023 Q Fiber, LLC. All Rights Reserved. Quantum, Quantum Fiber and Quantum Fiber Internet are trademarks of Quantum Wireless LLC and used under license to Q Fiber, LLC.
We are sorry that this post was not useful for you!
Let us improve this post!
Tell us how we can improve this post?