The introduction of artificial intelligence in business has changed the way it used to work. From customer service chatbots that answer basic questions to automated accounting and inventory management, many entrepreneurs are already reaping the benefits of artificial intelligence in their businesses. If you’re wondering how AI could help your small business, these seven ways AIs benefit small businesses can point you in the right direction.
7 Ways Artificial Intelligence Benefits Businesses
1) AI can Optimize Marketing
Automated marketing and AI are a match made in heaven. An artificial intelligence system can interpret data from your marketing campaigns and optimize them for maximum ROI (return on investment). This means you get better results with less effort—which is what every business owner wants, especially when it comes to marketing.
By letting AI handle your campaigns, you’ll free up valuable time to work on other tasks that actually generate revenue for your business.
With technology driving growth strategies, small businesses can make big strides without any input from their human owners. What could be more beneficial than that?
2) AI can Increase Efficiency
As a small business owner, time is your most valuable asset. AI-powered systems are designed to operate more efficiently than humans. This can save your precious time that you could spend on other tasks or getting new customers. Check out these bots for ideas on how artificial intelligence can help your company. For example, in customer service: Zendesk’s Customer Service Bot can improve your support service by responding to frequent questions automatically.
Unlike human chatters who need to switch between multiple chats and answer hundreds of messages every day, a bot only needs to process one message at a time and has much faster response times.
3) AI Keeps Customers Happy
For example, let’s say you run a flower shop. Your business is struggling to handle customer demand, so you hire an AI service to automate some of your tasks, like replying to emails or updating your website. The AI will free up human employees for more complicated jobs and customers will get a quick response that makes them feel valued.
With AI on your side, there’s no limit to how many happy customers you can serve! You’ll win new customers and keep current ones happy. It’s pretty much guaranteed to succeed.
4) AI Reduces IT Costs
More than half of small businesses don’t have an in-house IT department. This means that many business owners need to hire an external company to develop and support their information technology. While there are numerous advantages to outsourcing your IT, it can be costly. The cost of hiring a qualified information technology manager for a small business can range from $70,000 to $140,000 a year.
As with any expenditure, smaller companies have to think about whether these costs are worth it or not. With AI, businesses can make better-informed decisions thanks to having access to data they would never have had access to before.
5) AI Creates Better Customer Experience
From chatbots to virtual assistants, artificial intelligence is becoming increasingly important to businesses. If you want to make sure your business stays ahead of competitors, consider investing in AI technology that can improve a customer’s experience. Whether it’s helping customers with questions or providing reminders about events or payments, using AI can significantly increase your bottom line.
An easy way to start using AI today is through a virtual assistant, like Amazon’s Alexa or Google Home. With these devices in place, you can better manage calendars and play music from your preferred streaming service all from just one device.
6) AI Increases Sales Conversion Rates
When it comes to artificial intelligence, one of its greatest benefits is an increase in sales conversion rates. By giving businesses access to a wealth of big data and allowing them to organize information quickly and easily, businesses are able to respond quickly to changing market conditions and sell products that customers want. In fact, studies show that by 2020, artificial intelligence will help companies make $1.2 trillion in revenue each year—more than all other business technologies combined.
The best way for small businesses to benefit from AI-enhanced transactions? Hire ai developer. These experts can help you implement these systems so that you’re maximizing your profits as soon as possible.
7) What To Do Next?
With AI, small businesses can leverage its power to automate time-consuming tasks and free up employee time. Hire an AI developer for your business so you don’t have to get stuck in some boring administrative work; let them work on automating those processes so you have more time to focus on doing what you love.
8% of companies surveyed by Informatica cited an AI solution deployment as one of their top 5 growth strategies. And, a third of all global enterprises plan to increase spending on artificial intelligence technologies over the next year; 55% are looking to make more strategic acquisitions around machine learning. If you don’t yet have an AI strategy in place, now is a great time to get started—if not sooner! Hire someone from freelancer websites like Upwork or Toptal that can help develop that strategy for you. They can advise you on where your most time-consuming processes would benefit from automation or leveraging artificial intelligence.