06 Sep Can AI help small businesses?
The jury might still be out on AI’s long-term ramifications for society, but in the business world AI technology is yielding powerful results. Companies of all sizes have experienced success in areas like marketing, sales, and accounting, and new applications of AI are happening every day.
With all its hype and potential usefulness, it’s worth exploring how this new tool can help small businesses and their employees maximize productivity and boost the bottom line.
Companies strive to make accurate, data-driven decisions. AI can help by analyzing wells of data and sorting only results relevant to your needs. This is particularly helpful in sales forecasting and personalized marketing.
Faster Customer Service
The rise of chatbots and customer service automation is making engaging with clients faster and more efficient than ever. As AI becomes more familiar with natural human speech, caller questions are answered faster and information is relayed with increasing specificity to the caller’s inquiries. Calls can be directed exactly where they need to go, without any human interaction.
Extra Time and Resources
AI can quickly create high-quality content specifically tailored to your business needs. This means blogs, package designs, computer code and many other deliverables can be produced efficiently and accurately. It also frees up existing employees to accomplish higher-level tasks not fit for a computer.
Some companies have started using AI to research their own fields and implement new developments other businesses in the same industry are using. They may also stumble across new research suggesting a change they otherwise might not have considered. Still other industries, like healthcare, use AI to support R&D activities for new drug development and to consult the consumer product goods sector for new product creation.
Easy Talent Management
Gone are the days of sifting through resumes—in person or digitally—to identify that perfect candidate. AI-enabled processes analyze applications quickly and thoroughly, presenting only the most-qualified individuals. They can also be used to prevent bias in corporate communications, gauge employee sentiment, determine equitable pay, and provide personalized workplace experiences with more engaging experiences and fewer rote tasks.
The Bottom Line
AI is ever evolving. It’s important to research different tools and platforms to find one that best fits your needs. Many small businesses are already using AI tools like ChatGPT to strengthen conversion rates while achieving a deeper understanding of the market. Before making a final decision, make sure to consult experts, read reviews and, if possible, test out your options.