As a small business owner, you might feel that Artificial Intelligence is just not for you. You are perhaps under the impression that AI is for large companies only that have the resources needed to use the most out of such technology.
It’s time to change that opinion because not only is AI for all businesses alike, but you are missing out on all the benefits it provides by not giving it a chance. In fact, thanks to AI, you can successfully compete with large enterprises.
AI can improve your business processes and simplify things since artificial intelligence solutions are able to process large amounts of data much faster and more efficiently than humans.
The fact is that Artificial Intelligence is changing the way businesses operate. So embrace machine learning and let your business thrive. You don’t need to be a technology guru in order to use AI to improve your business. In this article, we will show you how you can deploy AI to help your business thrive.
In order to grow your business, you need to make good decisions. Deploying AI can secure minimizing errors. Unlike humans, machines don’t get tired and oversee important details. No matter how detail-oriented and how careful we are, inaccuracies are still an everyday occurrence. And these errors and inaccuracies can end up being quite costly sometimes. As a small or medium-sized business owner, you can’t afford such mistakes.
AI tools are able to analyze large amounts of data and not miss anything. Thanks to machine learning and predictive analysis, you will be able to get better insights into customer needs and behavior. When you have accurate data, you can make informed decisions that will contribute to the growth of your business.
Reduce Costs with Workforce Automation
Workforce automation means fewer employees and that means fewer costs. According to WorkMarket’s 2020 report, 41% of businesses are already using workforce automation technology. The same report shows that 61% of business leaders think that AI could easily be used in their industries in the future.
Hiring new staff is costly, not to mention the benefits package you need to provide including healthcare, paid days off, etc. Workforce automation means increased efficiency and reduced costs. While humans are not productive 100% of the time (in fact, this percentage is believed to be under 50%), artificial intelligence cannot get tired. AI tools and machines can perform automated tasks 24/7.
For example, many self-employed individuals and small business owners use QuickBooks, the online tool which simplifies accounting and saves you a lot of time.
It’s quite simple really. AI means you’ll be able to do more with less effort and with fewer costs.
Enhance Customer Service Delivery
Perhaps you have a small team of customer service representatives. However, they are only human and can’t work 24 hours a day. Or perhaps you have a startup business and can’t afford to hire staff. Either way, you can benefit from AI. By installing chatbots, you will be able to improve the customer experience while reducing your costs at the same time.
Chatbots are an affordable solution for all entrepreneurs. Both startups and established businesses are already using AI-powered tools to boost customer service. Why? Because thanks to Natural Language programming (NLP), chatbots are able to converse with your customers just like humans would. They are able to detect customer’s intent and then find an adequate answer to their query. And the best part is that they can do this 24 hours a day.
Chatbots are able to identify common issues and collect more information about customers which can be very useful for marketing purposes.
Human agents are not always able to answer a customer’s query instantly. They can sometimes take a lot of time to find the most adequate answer. Since your goal is probably not to let customers waiting for a response, you might want to consider using AI to enhance customer service delivery.
Preparing for AI
Deploying AI in your business takes some preparation and usually does not happen overnight. Most importantly, it takes human support work to switch to an AI business model.
Before you deploy AI in your business, it is important to clearly define your goals and recognize the areas in which AI can help. You should also educate your staff and teach them how to identify problems that could be solved with artificial intelligence.