How Artificial Intelligence Is Shaping Business
October 13, 2022
3 Minute Read
In the past, businesses relied on human employees alone to carry out tasks. Now, with the help of artificial intelligence (AI), a digital workforce can do these things while saving businesses time and money and allowing them to get more work done in a shorter time. AI can automate specific tasks, making it easier for companies to be more efficient. It can identify and target potential customers more effectively and help companies develop new products and services faster than ever.
Based on DataProt, 37% of businesses employ AI, while 90% of leading organizations invest in intelligent technologies. This number could rise in the upcoming years as more companies realize the potential of artificial intelligence. Read further on how AI is changing businesses and what the future holds for this technology.
Where AI can help
One of the most prominent uses of AI in transforming businesses is through automation—using machines to carry out tasks that humans usually handle. Those tasks include:
1. Customer service
AI can provide customer service by answering customer questions and addressing their concerns through chatbots, or computer programs that simulate human conversation. Virtual assistants can engage with customers 24/7 and provide them with the answers they need quickly and efficiently. In addition, they can upsell and cross-sell products and services to customers.
2. Data entry
Data entry involves collecting and inputting data into a computer system. AI can speed it up by automatically transferring data from one format to another. For example, it can convert an image of a document into text that can be stored in a database.
AI can help create targeted marketing campaigns and identify leads. It can also track customer behavior and preferences, which allows businesses to personalize their marketing messages for each consumer.
4. Improved decision-making
AI helps companies make better decisions as it can analyze data more effectively than humans and identify patterns that companies might not be able to see on their own. They can use this to make better choices about products, services, and even business strategies. For example, if a company considers launching a new product, AI can research the target market and determine if there is a demand for the product.
5. Increased productivity
According to Semrush, 54% of executives reported that implementing AI has increased their productivity, which is true because it can automate tasks and make decision-making more efficient. In addition, it helps companies manage their resources more effectively. For example, if a company uses AI to manage its inventory, it can keep track of stock levels and reorder products when necessary. That helps ensure the company has the needed products without having too much or too little in stock.
AI is changing how businesses operate, and there is no doubt that this technology will continue to evolve. Companies that don't embrace AI will likely fall behind their competitors, so they'd better be updated with the latest trends and developments in AI to stay ahead of the curve. Are you ready to join the future of business?