Fredrick is the writer of this article. He is a regular contributor at many sites and mainly focuses on business-related topics.
Do you want to make you business processes faster, more accurate and infinite? Here are five ways in which Artificial Intelligence can help grow your company.
Artificial intelligence, machine learning, and the Internet of Things are topics that deserve discussion, especially at a time when emerging technologies are taking over the business industry. Although artificial intelligence is still a work in progress, we have seen what it can do and the advantages that come with the new technology.
We have obviously used artificial intelligence even without our knowledge at the workplace or when interacting with our clients. For instance, every time you send a query to Google, you are directly benefiting from artificial intelligence as Google uses machine learning to sift through queries and come up with the most accurate responses.
Today, artificial intelligence is not only beneficial to big companies but also to small businesses. In fact, Forbes predicts that at least 30% of businesses will be using artificial intelligence by the end of 2018. Artificial intelligence is already being used in some small businesses through applications such as an automated time and attendance system.
There are obviously some reasons why people prefer artificial intelligence as compared to humans. Artificial intelligence makes processes faster, more accurate and infinite. Unlike humans who need lunch/tea breaks, vacations and sleep, artificial intelligence works around the clock with consistent results. Here are five ways in which artificial intelligence can help grow your company.
1. Handling simple tasks
If you are not already using simple task applications, then you need to look into acquiring these technologies. Depending on your organization’s size, it would be a great idea to find applications that handle simple administrative tasks in order to free up time for your employees.
Although some people see artificial intelligence as a job snatcher, it’s only when they look at the situation as pessimists. If you look at the situation as an optimist, you realize that your employees will obviously have more energy and time to focus on serious tasks that require thinking and creativity.
2. Handling marketing
In marketing artificial intelligence is capable of analyzing data to come up with accurate buyer personas. Isn’t it awesome to market a product to someone who actually needs it?
Artificial intelligence will, in the future, help to match buyer interests to your products up to the last detail. In this regard, the guesswork will be reduced, allowing your business to target only potential buyers.
Today, artificial intelligence is being used by companies such as Facebook through the ad network. In such a case, artificial intelligence would decrease the amount of time used to analyze data and A/B testing, among other issues.
3. Handling human resource
Today, there is a host of applications that rely on artificial intelligence to manage talent in the office. Talent acquisition and management could be done better using artificial intelligence meaning less money spent on training for new employees.
Furthermore, it ensures that you do not waste a lot of time working with the wrong employees. In short, artificial intelligence would be a great deal in regards to matching your employees to the tasks they are most qualified to handle. Some companies like Greenice and Mitrefinch can help the human resource department keep track of employee attendance.
4. Handling customer care
Today, a lot of business owners are already using chatbots to answer customer queries 24 hours a day, seven days a week. Customers are always impatient and, therefore, require undivided attention regardless of the point they are in their buying journey.
Using artificial intelligence would free up time for your employees in order for them to handle important issues that require human-to-human communication skills. Furthermore, artificial intelligence would cater to international clients who are out of their time zones instead of waiting for customer care agents to report to work for them to solve a query.
5. Handling business processes
Artificial intelligence can increase the efficiency of a company by handling business processes such as workflows and supply chains. Basically, you want them to do the heavy lifting and, through analysis, identify the areas that need improvement. In the end, resources are used better, meaning a reduction in losses and cost of production.
According to Forbes, companies that integrate artificial intelligence into their business process management have the potential to drop the use of materials used in manufacturing by 4% and increase productivity by 20%.
At the end of the day, artificial intelligence doesn’t come as a human replacement but can complement your employees, leading to better productivity and eventually company growth.
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