In recent years, the tech industry has not only become more and more powerful but also more and more accessible to would-be entrepreneurs.
With almost everything you need to start a business now available via the internet, it’s easier than ever to turn your great idea into an even greater reality without spending much of your own money.
So if you are in the process of starting your first business and researching tips on company formation made easy, you want to spend some time reading about technology too.
Here are six ways technology is helping entrepreneurial dreams come true every single day, from AI content generation to drones that make deliveries faster than you can drive them yourself.
Simplify warehouse management
There are an estimated 24 million eCommerce sites around the world, and every year new eCommerce businesses are being created. The opportunity to generate fast profits with an eCommerce model attracts new entrepreneurs on a daily basis. Not all companies choose to focus entirely on eCommerce, as it can be an extension of existing services for many. Yet, when it comes to comparing online and offline retail, eCommerce can drive higher sales at a lower operational cost, as customers can buy at any time of the day and night without needing to visit a store.
Yet many aspiring entrepreneurs meet challenges when it comes to warehouse management. Indeed, warehouses are a frequent source of increased costs through:
- injuries and accidents
- damage to products
That’s where expert robotic 6 River Systems has been making waves by revealing new robotic system features for warehousing that can tackle some of the most urgent warehousing challenges. With tools that can enhance fulfillment speed and support warehouse operators, it makes sense to bring robotic solutions into the warehouse.
AI content generation for websites
Content is king, regardless of your industry sector. But writing good content that keeps people coming to your website is no easy task. It can be time demanding if you have a small team or are a solo entrepreneur. While outsourcing is an option, it can drive your costs high.
AI content is a great way to get started if you’re feeling overwhelmed. If your website needs new content, a professional AI tool can generate it for you in minutes. In the past, it would take a team of writers weeks or even months to create the same amount of content that an artificial intelligence tool can churn out in no time. Plus, with AI content, there’s no risk of plagiarism because each sentence is completely unique.
One of the best parts about AI content is that it doesn’t require specific instructions, making it ideal for new entrepreneurs who want to expand their presence rapidly. All you have to do is upload your existing website and watch as your AI tool of choice writes hundreds of pages worth of new material in minutes.
Another benefit? You’ll never need to worry about writer’s block with AI at your side! With an AI writing solution, you can easily tackle a lot of more problematic content, such as:
- Writing ads for Google Adwords or other paid placement
- Creating blog articles about the latest trends (you can input the keywords you wish to target)
- Building converting and powerful content based on the knowledge extracted from hundreds of sources and data
AI recommendations for eCommerce shoppers
AI product recommendations can be a great tool for e-commerce companies. This is because they are personalized and provide customers with targeted recommendations. The recommendations are made by analyzing the user’s search history, browsing habits, and past purchases.
AI product recommendations have been proven successful in many companies, such as Amazon, Walmart, eBay, and others. Furthermore, retailers who use AI for their product recommendations have seen a significant spike of up to 40 percent in conversions.
In conclusion, AI product recommendation solution is a great tool for companies with an online shop front because it can provide suggestions that are:
- Based on each user’s demographics and digital behavior
- Tailored for their unique needs at the time of visit
- Continuously evolving and learning
- Capable of identifying trends and changes in the demand
This can serve multiple purposes for new entrepreneurs, especially when it comes to maximizing gains while minimizing costs. The cost of remarketing and advertising to achieve the same conversion level driven by AI recommendations typically falls off the budget range of new entrepreneurs.
AR for immersive product comparison
AR technology can pair with the shopping experience to enable consumers to try products before they buy them. This saves customers time and money by giving them a chance to explore the different aspects of a product before committing to purchase. IKEA introduced AR technology into its catalog and website to help customers visualize furniture in their own home. While the tool doesn’t provide exact measurements in situ, it can certainly give an accurate assessment of how individual items can look and feel inside a room.
For entrepreneurs launching their presence and products, an AR solution can help create an immersive environment where potential customers are encouraged to experience the products before buying, hence building trust.
Drone for local deliveries
Did you know that drones can deliver items locally in as little as 15 minutes? With the help of a drone, your business could become more convenient for your customers and save you time. This is a perfect opportunity to tap into qCommerce (quick commerce) and target customers within your geographical radius.
As drones have been proven safe for use in the United States, more and more entrepreneurs are exploring this option to gain a competitive edge.
A bot to talk to
Being able to answer customer queries and questions is a tough task. Digital technology encourages users to visit your website at any time of the day or night. Chatbots are often seen as a marketing tool and can provide a service like customer support or content curation even outside of business hours.
Chatbots are playing a major role in the new wave of entrepreneurship.
Indeed, an important aspect of chatbots is the chance to create a business with limited staff. A bot can be created in minutes and used across any platform and on any device, so entrepreneurs don’t need to invest in expensive infrastructure or worry about staffing.
In conclusion, technology involvement is creating a new style of entrepreneurs who are tech-savvy and customer-smart. Using technology as a way to keep your costs down and boost customer satisfaction is the solo entrepreneur 2.0 concept.