Artificial intelligence (AI) has been around since the 1950s and has had an increasingly large impact on the corporate world. The use of AI within businesses has also changed, being at 37% today, according to Gartner. It is largely doing the work of automation processes for businesses. However, we will explain what business owners should know about AI in the next six points.
1) “84% of respondents say AI gives them a competitive advantage over other companies”, says the Boston Consulting Group. Furthermore, 75% additionally said that AI helps them take advantage of new opportunities that benefit their business. AI provides business owners with better insights to help them make better decisions. These insights relate to the different channels used to communicate with and interact with customers, as well as the different advertising channels used, for example. In addition, artificial intelligence also provides insight into the behavior of different customer segments.
2) Another advantage of AI is the speed with which processes are handled. Possible opportunities are perceived much faster by AI. This helps companies develop new products, grow their market, or transform their brand’s image.
3) With AI taking over many small tasks, staff is left with more time to focus on other areas and increase productivity. This was evidenced by a study of executives who said 79% believed AI would make their jobs less stressful and more effective, according to the Economist Intelligence Unit. It would, in fact, free up time to maintain customer contact, develop new marketing strategies, and establish higher ROI processes.
4) AI also lends itself to voice search. While the majority of consumers (85%) still rely on smartphones for their searches, voice search technology is becoming increasingly popular. The number of these devices is expected to potentially increase to 8 trillion by 2023. Businesses can also take advantage of this foresight right now by using naturally occurring and entire keywords in their SEO. By also asking business owners or team members how they would make (search) queries to such devices, full sentences can be included in SEO, rather than using sentence fragments as is usually the case. In addition, care should still be taken to ensure that the website is mobile-friendly – Google offers tests for this.
5) For marketers, this point could be of interest since AI optimizes campaigns and channels in addition to the aforementioned benefits. With the support of multiple AIs, the most profitable options for the company can be discovered. However, this requires choosing the right AI, namely one that specializes in marketing and sales. Before companies invest in AI, it is thus advisable to first look for free demos.
6) AI can score particularly well regarding customer experience. AI evaluates user behavior and makes predictions, and helps to adjust content in marketing. It can be helpful to work with AI so that it can figure out which products customers find interesting, or in which they invest. The checkout page or the shopping cart in particular should be optimized – customers can still be offered appropriate information here, and the checkout process should be as smooth as possible.
These tips show that AI has what it takes to revolutionize how business works for companies. First and foremost, and as a prerequisite for effective business practice, it is important to find the right AI option for your company and business goals. Not only does AI improve business, but it also creates more time for teams to deal with important tasks and decisions, and it takes care of the small, tedious tasks that can be quite crucial to calculating effectiveness. It also highlights even more interesting gaps for employers that companies haven’t quite tapped into yet but could give companies a good profit.
