How Artificial Intelligence Can Help To Grow Your Business

 Mila Jones
  Jan 02, 2019

Artificial Intelligence has grown from a movies-only notion to an essential business tool you can use to help your business grow.

In the past, when artificial intelligence was spoken about, it was discussed in hushed tones, and in the context of science-fiction movies from the 1970s and 1980s, such as “2001: A Space Odyssey” or “Terminator”. People thought of artificial intelligence as something to fear. However, today, artificial intelligence has become an important tool for helping businesses grow and prosper, and many businesses use artificial intelligence to keep their businesses running smoothly and efficiently.

What is Artificial Intelligence?

A simple definition for Artificial Intelligence (AI) is that it allows computers to think more like humans, and in many cases, allow humans to focus on more complex processes while leaving the easier, mundane tasks to machines. There are two branches currently within artificial intelligence: one that works to act like human thoughts or to simulate human activities to perform a task: such as when Siri writes down your grocery list for you. The other branch of AI is more complicated and is seeking to develop intelligence in machinery, such as getting a machine to raise its mechanical arm without being told to do so.

Many businesses are looking to use artificial intelligence as a way of simplifying tasks. For example, Voice AI allows businesses to cut down on the time their employees have to do mundane tasks. Through a voice AI program, workers can put projects on a digital calendar and add due dates, changes, and updates to the project timeline. These programs would give employees the opportunities to make changes in real-time, without having to stop what they are working on. Taking help from Voice AI is a must-have for business efficiency.

How Can AI Help My Business Grow?

AI Voice can help your business growth in many ways. Perhaps one of the most important ways that AI is helping many businesses is through the use of an AI program to help with customer relations or customer concerns. It is estimated that AI can help approximately 85% of customers with their concerns without needing to speak to a customer service agent. This cuts down on time customer service agent work with simple to answer questions from customers and allows them to tackle the most difficult problems to your client’s satisfaction.

AI can also help by keeping your clients up to date on the latest technologies, time changes, new products, or any other business-related features that allow your clients to pick and choose which products would be most helpful to them. By keeping your clients in the loop without using your employees for the relaying of information, you can ensure that your clients always feel connected to your businesses.

AI is used to pinpoint trouble spots as well as within a conversation with a client. While some client conversation involves a routine question or a small problem that must be solved, some questions are more difficult and require more effort or human input. AI not only allows you to break into a conversation between a chatbot and a client if you need to, but it also allows you to use voice AI technology to make note of important points of a call for follow up later, which is vital for you to stay on top of the needs or problems of your client. Voice AI can also be used to provide summaries of the call, what actions were taken during the call and what follow-up conversations need to happen after the call is complete.

Businesses also use AI for other reasons besides interacting with clients. AI may be used to spot patterns in sales, in requests or even in complaints that your business may not see. While it is easy for a small business with one or two people employed to spot issues or trends within the business, it is not as easy for large companies to spot a trend, especially those companies whose employees are scattered over several locations. For example, if you sell girls hair attachments, and you buy and sell all over the world every day, you may not catch every trend, especially micro-trends that occur all the time in the business world. However, AI can locate and spot trends in rainbow velvet hair scrunchies, and capitalize on the micro-trend much more quickly, which allows you to grow your business.

What Is the Future of AI in Business?

AI in business has a bright future. AI for many businesses will be able to act much as your personal assistant does at home with grocery lists and turning lights off and on, but with a business focus. A voice AI program will be able to help your business run more smoothly, order product, track logistics, and anticipate problems before they happen, which will be essential in an increasingly fast-paced business world. AI will also be able to help you spot threats to your business or potential ways to compete with other businesses in your same field you did not think of. In the future, AI may be able to suggest new product features or product enhancements that will work to improve not only the quantity of your product but the speed at which your product can reach the public.

Perhaps one of the best outlooks in terms of AI in the future is that the more businesses use it with cloud-based technologies, the less expensive it will be because more and more people will be willing to give it a try. This means that even very small businesses will be able to take advantage of AI in the everyday tasks of their business. This gives small businesses yet one more edge they need to continue to grow and compete with larger businesses.

In short, AI will be able to help your business as easily an extra pair of hands -- or two. While AI appears frightening, you will find that you are already using it in some capacity in your daily life and by using it to its full potential, your business can only continue to grow and prosper.

How Artificial Intelligence Can Help To Grow Your Business

Mila Jones

Mila Jones is a Senior Business Consultant, Technology. With rich experience in the domains of technology consulting and strategy, she works with both established technology brands and market entrants to offer research inputs and insights on leveraging technology as a source of strategic competitive advantage. She is a prolific author and shares her expertise with tech enthusiasts on popular digital publishing platforms.

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