Artificial intelligence (AI) is the new hot topic in business. It’s one of the hottest areas of research in computer science and it has applications in all sorts of industries. It’s predicted that AI will become more pervasive, even showing up on our phones and in our homes. But how can you use artificial intelligence to your advantage?
Here are six ways you can leverage AI to help grow your business:
1) Get instant customer feedback using AI-powered surveys
2) Automate digital marketing campaigns with personalized content
3) Use chatbots to handle simple customer requests
4) Deploy predictive analytics for faster decision making
5) Augment the workforce with automated tasks
6) Make smarter sourcing decisions
Why is AI so big?
While AI is often used for applications in the digital realm, it has some real-world applications. You’ll find it in everything from self-driving cars to predictive policing.
In this piece, we’ll cover why AI is so big, where you can see it applied, and how you can use it to grow your business.
How can you use it in your business?
There are so many ways you can use artificial intelligence to help grow your business. The possibilities are endless. For example, you could use AI to help make better sourcing decisions for the products you sell.
You could also automate the digital marketing process with personalized content and chatbots. With predictive analytics, you can make smarter decisions about what ads to run or what products to offer on your website. This will help speed up the decision-making process and give you more time for other activities like customer service or sales.
The first step: Collecting your data
Artificial intelligence is a powerful tool for growing your business, but it also requires data collection. Once you have your data in place, you’re ready to begin analyzing it and implementing AI-powered decisions.
To get started, ask yourself two questions: What are the objectives of your AI project? What do you want to achieve? For example, if you want to personalize advertising campaigns based on customer feedback, then your objective would be to meet specific customer needs with personalized advertising content. If you want to use chatbots or predictive analytic analytics to help accelerate decision making and streamline processes, then you might have different objectives.
Before diving into the technological aspects of applying AI to a business, make sure that you understand what areas of the business need improved performance. It’s important that when using AI in your business that you have clear goals and objectives because without them it won’t be effective at achieving any results.
Automate digital marketing campaigns with personalized content
Companies are utilizing artificial intelligence now to personalize digital marketing campaigns. This means you can send personalized content to your audience that is more likely to engage with your brand and buy your products or services. For example, imagine if you were a clothing retailer and wanted to increase your e-commerce sales. You could use AI-powered surveys to find out which types of clothes people like and then send those styles to the people who have purchased from you in the past. If someone purchases one of those styles but doesn’t have any years of history with the company, you could send them an email about new inventory or a special promotion.
AI-powered surveys are just one way companies are using artificial intelligence for digital marketing purposes. In this post, we’ll cover five other ways companies are using AI for digital marketing campaigns:
1) Automate customer service requests
2) Deploy predictive analytics for faster decision making
3) Augment the workforce with automated tasks
4) Use chatbots
5) Make smarter sourcing decisions
Deploy predictive analytics for faster decision making
Predictive analytics is a powerful tool for business owners to use. It can provide deep insights into customer behaviors and preferences that would otherwise be difficult to measure. Plus, predictive analytics will give you insights about your competition’s tactics.
If you have time to analyze your data and make smart decisions, predictive analytics is an effective way to understand your customers better. This can help your business grow by understanding their needs before they even know they need them.
However, if you don’t have the time or resources to invest in predictive analytics, it may not be the best choice for your business. If you’re looking for ways to adapt with AI quickly and effectively, chatbots are one of the easiest forms of artificial intelligence. These bots are programmed with a certain set of responses and can get answers out of people very fast without the need for a human operator.
Make smarter sourcing decisions
Leading companies are using AI to make smarter sourcing decisions. One way is by using predictive analytics. Predictive analytics can give you a more accurate estimate of how much demand there is for your product, what competitors are doing, and how the market will change over time.
Another way is by using chatbots that can handle simple customer requests. Chatbots are like digital assistants that are designed to respond to questions with preprogrammed responses or information about how to resolve problems without human intervention.
Chatbots also help companies lower their cost by eliminating the need for customer service agents who would normally be required in order to provide high-level customer service.
Adaptive learning algorithms, like neural networks, can further automate processes in your business and reduce manual labor costs.
Artificial intelligence will make work more efficient, which will lead to a rise in jobs. This is particularly true for repetitive and predictable tasks that can be automated using AI.
For example, AI is being used in customer service chatbots to handle simple requests like checking the status of an order or scheduling a follow-up call. These chatbots are trained to understand a customer’s needs and provide personalized responses.
AI technology is also used by professional services firms to augment their workforce with data analytics, predictive modeling and predictive analytics that help them make better decisions about how they’re going to allocate their resources. Let’s say you’re a company looking to hire two new employees for your marketing department. A predictive analytics model can analyze the current staff members’ performance and show you which team members are best suited for promotion.