Top Ten Ways AI Will Benefit Your Business

In this day and age, we are seeing businesses using artificial intelligence more and more. Some of the ways that artificial intelligence is being used would have been considered to be science fiction just a few short decades ago.

AI powered tools are being applied across the globe by businesses, by individual workers and by personal individuals who are using them in their private lives. And as the AI technology is growing, it’s becoming a huge tool for companies that want to keep their competitive edge.

While we are seeing how AI is helping with content creation, we still have to impress upon you that AI is a tool and therefore still needs human generation and interaction to be realistically used.

Some businesses cry out for AI redaction tools to be able to maintain legal documentation and cut the time spent redacting confidential information.

There is every chance that you are already interacting with some form of AI already, and as the technology is growing, it’s going to start touching everything.

Here are some of the top ten ways that AI will benefit your business.

1. AI can help with customer service efforts

Did you know that more than 60% of consumers expect businesses to understand what they need before they ask?

These can be quite an alarming statistic for businesses, but with the tools that are available with artificial intelligence, the capabilities to meet high expectations from customers is actually more possible than you think.

From using algorithms to interpret what customers want, to understanding how to send out automated surveys, AI is a fantastic tool to be able to help you with building your customer service.

2. Better experiences when shopping online

We know that people are only as loyal to the brands that are as loyal to them.

This means that brand loyalty is fizzling out in more ways than one, and people are prioritizing speed and convenience when they are shopping.

With the right tools, artificial intelligence can help you to support your marketing processes and improve your customers’ experience when it comes to buying your product on an ecommerce website.

People want innovative customer experiences and that has been fueled by services such as next day delivery.

3. Online chat

If you haven’t leaned into a live chat AI bot on your website already, it’s time to do it now. Chat bots may be automated computer programs, but they can help to answer some complex questions from customers without needing a live person behind the computer.

People can go online and ask questions about products, and the AI can be preloaded with answers to answer those questions.

While it’s not a human interaction, it can be helpful outside of business hours for people to gain some understanding of a response.

4. Clearing up wasted time

Artificial intelligence tools can help to minimize wasting time on mundane tasks. A lot of knowledge workers will spend time on tasks that don’t provide too much value, but do take up a lot of time in your business.

If you have to schedule meetings before proceeding with the project, but you need to get everybody else on board, you can assign this task to an artificially intelligent tool and it can do it for you.

5. Improve your conversion rate

When you want to boost your conversion rates while increasing your bottom line, artificial intelligence can help you by generating revenue through computer vision. This is transforming the way that people shop by suggesting related products.

6. Learning your competition

It’s not just enough to learn about what the competition is doing. You need to be able to stay ahead of them and for this to work you need to improve your customer experience.

Studying your marketplace closely to be able to measure how well your competition is performing is going to help.

This is where AI powered competitive intelligence comes in. With the right software you can keep tabs on your competitors’ performance.

7. Automated ad placement

A great way to snatch better views and potentially push up your conversion rates is to lean into automated ad placement.

From here you can customize the adverts that your audience will see, which will essentially help you to customize your audience.

8. Automating your security

When you apply AI techniques to every piece of data that you collect, you can keep security in mind.

When you automate your cyber security defense, you keep all of your information safe as well as the information of your customers. Umbrella platforms that are focused on Security will help to ensure that your customers information is safe.

9. Better screening for healthcare providers

Artificial intelligence is going to transform healthcare in whole new ways by equipping healthcare providers with new technologies.

These technologies are designed to make the patient experience much easier and smoother. Through machine learning, the more efficient AI becomes.

With the vast majority of patients needing help from their healthcare providers, better screening is a must and being able to speed up this process with the help of artificial intelligence is going to offer a better service to consumers.

10. Financial processing

Banking is largely online these days. It’s rare that you will find people counting out cash because people are moving to a digital platform for their money.

With intelligent character recognition, people can be recognised for security in their bank and using telephone automation and voice automation, people can sign into their accounts without even having to go in the store.

There are robotic process automation programs that have been harnessed for years now. These are there to perform the right tasks and improve financial management processes.

Maximize your Business Process

AI is not going to be going anywhere anytime soon, so it’s important to look at where it can maximize your business processes and do something good for you.

Once you’ve recognized that, you can start investing in the right areas and start finding that the money is coming in faster for your business.