These days, a lot can be heard about AI (artificial intelligence) and its impacts on the business landscape. Gone are those days when AI was considered to be associated only with sci-fi movies. Today it’s steadily developing and occupying a major place in our daily lives. While in mainstream society, the impact of AI may not be that much prominent, in the business spectrum, it has facilitated a wide range of uses. In this post, we’re going to discuss some of the most effective ways you can use AI for the betterment of your business.
How your business can benefit from AI
You can imagine the vast impact of AI by considering the prediction done by Tractica, a market research firm, which says the revenue of the global AI software market is expected to reach around 118 billion dollars in 2025. In short, AI is transforming the business landscape in different ways that are extremely relevant to any business. Here’re four key ways AI can be used to take your business to the next level.
Better consumer insight: AI-powered systems can make predictions about the needs and wants of your customers. By leveraging the predictive power of AI, you’ll be able to guess the actions of consumers accurately based on their activities and choices. This will allow the systems to suggest the next most appropriate action for human employees by understanding which solutions to certain problems will yield the best results. This will greatly help your human agents to learn behavior and activity patterns of the customers and provide them with the best possible solution.
Better utilization of human resources: Though some people may fear that the implementation of AI will make the humans jobless, in reality, it does exactly the opposite. AI comes with the ability to automate the more time-consuming and mundane tasks of HR like data entry and paperwork so the employees can focus on the more “human” part of your business. In this era of big data, manual management of the growing databases has become almost impossible. With the help of machine learning (a subset of AI), you’ll be able to store, process, and manage this massive volume of data and derive critical insights from it. You’ll also be able to predict key movements such as role success and analyze whether a particular candidate would be a good fit for a specific position.
Advanced security: In today’s connected world, where information security has become one of the most crucial threats, AI can act as a boon for businesses’ security. It’ll help you detect vulnerabilities and implement high-security identity detections if required. For instance, your employees can be examined by voice and face detectors and cameras, and if danger signs are found, they can be seized. You’ll also be able to detect suspicious behavior on computers, so if a virus or attacker has intercepted a machine, the necessary actions will be implemented immediately and disaster will be avoided.
Automation: Automation is the new buzzword in the business landscape. With the help of AI, you’ll be able to automate basic, common tasks to free up your employees’ time. From responding to basic customer inquiries and coordinating schedules to translating communications and monitoring productivity analytics – a lot can be managed by leveraging AI’s versatility.
Parting Thoughts
Although the technology we’ve these days may not be pure AI, it still has a tremendous ability to transform any business. However, like most of the other revolutionary technologies, AI doesn’t offer a one-size-fits-all solution. A successful outcome of its implementation greatly depends on your business’s specific needs and goals.
If you’re trying to figure out what actually AI can do for you, contact our expert team at Bare Bones Marketing through email at info@barebones-marketing.com or phone at 512-571-2296 and we’ll help you develop cutting-edge solutions to better your digital transformation journey.