4 Ways Artificial Intelligence can transform your Business.

You might be under the impression that AI is only for big, multimillion-dollar companies, but in reality also smaller companies are taking advantage of AI every day. We use artificial intelligence more than we even realize. In fact, according to a study, only 33% of people think they use AI when, in reality, 77% actually use an AI-powered service or device. It’s already in much of the software we use today and has the ability to drastically improve workflow and increase profits.
In the not-so-distant future, artificial intelligence will be able to perform many jobs. For instance, AI has the potential to save time and money by automating repetitive, menial tasks. This will free up time to focus more on strategy, ideation and creative pursuits to differentiate your business from the competition. Here four ways Artificial Intelligence can transform your business.
1. Improve your customer service.
Automated chatbots for your website are a stellar way AI can improve your customer service. Using a chatbot can reduce your response time to one second and allow customers to connect with you 24/7, which enhances your relationship with customers and leads. Various tools collect data from your website, allowing users to have interactive conversations and get answers to frequently asked questions from bots. When a user can get their questions answered in an instant, they’re more likely to sign up, subscribe and buy. Customer service and support are some of the most important factors in maintaining customer satisfaction. For example, a customer might put in a support ticket and not hear back from you for hours. While this is understandable, some customers want their problem fixed now and will be dissatisfied when you take too long to assist them. You need to provide prompt customer service to keep your more difficult customers smiling, and AI can help you with that.
2. Gain customer insights and predict behavior.
CRM software is an important tool for businesses to manage their interactions with current and potential customers. Typically it’s used to keep contact details up to date and track phone calls, emails, and other customer interactions. But AI can take your CRM to the next level. It can deliver predictions and recommendations based on your business processes and customer data. You can then use those insights to automate responses and actions to save time for your sales team and keep customers happy.
3. Get better results from Marketing.
What do you think if you could create a more successful ad campaign with AI? Now you can as Facebook ads are more effective than ever with the addition of AI. Facebook’s ad target users who are interested in what you have to say, because they’re almost identical to your best existing customers.
So, no more time wasted on creating targeted leads on social media and hand-picking the demographics of the users you wanted to see the ad, like their age, location and profession. Now AI does it for you.
4. Automate repetitive tasks.
There are many ways that AI can improve your productivity by automating tasks. Infact, according to a study, AI can increase productivity by 40% and profits by 38%. AI can be used to compile reports, do basic accounting, or tedious tasks like sorting images, transcribing, and cutting and pasting between different documents. This allows to work more efficiently. Employee turnover is a significant cost to businesses, so decreasing turnover in itself increases profits, in addition to the increases due to productivity.

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