How Can Artificial Intelligence Help Your Business?

Keri Jaehnig
August 24, 2020
By now, most business leaders have seen or heard about examples of artificial intelligence. AI can bring efficiency and savings…...
How Can Artificial Intelligence Help Your Business? featured image

By now, most business leaders have seen or heard about examples of artificial intelligence.

By now, most business leaders have seen or heard about examples of artificial intelligence. AI can bring efficiency and savings to your business. Here are seven areas of operations to consider implementations...

Guest post by Taylor Ryan

Types Of Artificial Intelligence Your Company's Leaders Should Know About Now

The term artificial intelligence (AI) is used alongside big data and has become one of the most commonly used buzzwords in the business world ... and the world in general. The core concept of AI is to build machines with the capability to think like humans.

AI has two research and development forms:

  • Applied AI
  • Generalized AI

The artificial intelligence future is vast, with its ability to perform almost all jobs that human beings are presently doing. It will create new jobs, empowering humans to be more efficient. Many brands such as Amazon and SAP are using AI to aid employees in their jobs, allowing them to lead successful careers with the help of a machine learning environment.

How Can Artificial Intelligence Help Your Business? AI can substantially transform businesses by targeting the following main areas within an organization:

  • Marketing 
  • Human resource management
  • Customer relationship management
  • Business analytics
  • Financial technology

Artificial Intelligence For Business

AI Can Improve Business Marketing Efforts

There are plenty of ways that machine algorithms can help marketers with their jobs. The majority of tasks undertaken by business marketers are repetitive in nature. A few of these tasks comprise social media and email marketing.

If all these redundant tasks were automated with the help of Artificial Intelligence, marketers would have more time to focus on other significant issues. Thus, AI can be employed by businesses to help employees -- especially marketers -- with predictive analysis.

Additionally, businesses can use AI to generate unique content faster than any human. Producing content is a long and tedious task, which requires:

  • Analysis
  • Research
  • Writing
  • Proofreading

AI-enabled technologies can perform all these stages, providing plagiarism-free, unique content for your business website, blog or social media. Can you imagine the cost savings that you could achieve with this?

Artificial Intelligence Can Aid In Employee Development

Bored and unmotivated employees can have an effect on business performance and growth. Lack of sufficient motivation can lead to lower productivity among employees, and this too may disrupt the corporate culture within an organization. But how exactly can organizations ensure sufficient employee engagement?

AI can help your business with inspiring and engaging the workforce. AI-enabled solutions such as Rocketbot are being deployed within businesses to stimulate a two-way conversation between employees and chatbots. 

Employees can voice their concerns including any and all reasons for demotivation and productivity plunges through these chatbots. It’s more convenient than talking to an actual human being. All these queries can then be transferred to the person in charge, who will then take appropriate actions.

The result will be better-motivated employees with higher morale and satisfaction with their respective jobs. AI can, thus, enable businesses to improve employee engagement and development.

AI Can Help Your Product Find Its Market Quickly

For small businesses that are having a hard time with survival, AI can be useful. Finding the perfect fit between the product and its market can be a tricky task. It requires both primary and secondary in-depth research. Imagine: You could save all this effort and leave it up to the AI.

AI has been used by businesses to find the perfect product-market fit using specialities such as:

  • Natural language processing
  • Target market segmentation
  • Machine learning

A few of these AI-enabled technologies include Keatext and MonkeyLearn, which can quickly process customer feedback and segregate it into categories as per requirement.

If a manual task for this process was put in place, consider the time and effort it would consume. Bonus, AI tools can provide results in the most cost-effective manner, so you can enjoy savings as well. 

AI Can Be Used To Uncover Essential Business Insights

AI or machine learning has been introduced on the basis of replicating the human mind and performing all human tasks in a more efficient manner. Sifting through enormous data sets in order to pull out useful business insights is a time-consuming and hectic process. This may be simplified by integrating CRM with AI.

Once this integration is finished, you can acquire a complete database of all of your customers’ useful business insights that were otherwise scheduled to be generated in a report by the end of the month. How much time does this save for businesses? To infinity and beyond!

Once you have the insights in hand, you can adequately translate them into informed business decisions, thus taking your business to new heights. 

A few of these decisions may include:

  • Which market segments to target and why?
  • Which marketing efforts prove more beneficial?
  • Is there a niche that can be potentially tapped?
  • Do customers have a certain buying pattern?
  • Is this product lacking in some features and specifications and what are those?

Responding to these questions can make or break your business, so the sooner you have the answers to these questions, the better your product is likely to perform in the market. 

Artificial Intelligence Can Streamline Business Sales Efforts

The AI system may be used to identify those essential details from the set of customer data that can otherwise be missed or overlooked by sales executives. While finding correlations in a given data set, plenty of information could remain untapped. But with the help of AI-integrated customer support tools, each data point can be effectively reviewed and used to improve sales efforts.

Moreover, as soon as the sales department realizes that customers are facing a certain issue that needs addressing, prompt action may be taken to resolve all issues. These immediate and proactive efforts will ensure higher customer retention. In turn, consistent sales and profits for the business in the long run. 

AI Can Be Used To Improve Customer Relationship Management

Following from the previous point, AI can streamline sales processes and keep customers happy and satisfied. For businesses that have to interact with more than a million customers on a daily basis, handling each one can be nearly impossible. In order to respond to each customer complaint and request adequately, a business will need a hefty investment in real humans or else the business will suffer consequences. 

With the help of AI technology, you can deploy chatbots and intelligent systems to connect with your target market. Technology can take your traditional customer management system to a whole new level. Your customers will be catered to in the best way possible via:

  • Personalized notifications
  • Scheduling
  • Quick response time

For each customer complaint.

AI can also be used to make live conversation with customers via phone. Rather than having human operators or call agents, your business can implement phone support, where each customer shall be entertained by a robot as is the case with Cogito, an AI solution.

This form of customer engagement is deemed necessary. And with the help of AI-enabled solutions, a business can save overhead costs and provide 24/7 support to all customers, thereby improving customer support.

Hence, if you intend to keep customer loyalty for your business, it’s time you bring in artificial intelligence!

Artificial Intelligence Customers

AI Can Secure Your Financial Technology

Fintech is booming these days, but it comes at a cost. With cyber frauds on the rise, there is an ever-increasing need to ensure safe trading in the financial markets.

Since trading relies heavily on price fluctuations and speculation, financial analysts have to keep tracking the process and indices in order to make optimal financial decisions. With the help of AI, financial planning can be done more accurately and in a secure environment. 

AI technologies can also help businesses with their advanced machine learning capabilities and fetch 100% return investment strategies, spot trading patterns and adapt to the dynamic financial market environment. 

Machine learning systems can also be used to implement and ensure rigid and foolproof financial security. They can be used to double-check transactions in order to identify any and all fraudulent activity. SAS Fraud Framework is a thriving example of such a technology that uses complex algorithms and analytics to detect fraud and abuse.

Moreover, for all businesses looking for an investment assistant, here’s some good news: AI can be that reliable investment assistant and can effectively help you with investment planning for clients with various asset levels.

These robot advisors will:

  • Analyze market trends
  • Make feasible investment plans
  • Adjust plans according to the changes in the financial market

It surely doesn’t get easier than this! More than half of your job has been undertaken and effectively performed by your own personal robot advisor.

Artificial Intelligence Money

Time To Use Artificial Intelligence In Your Business Growth

If artificial intelligence can perform all this now, imagine what it will be able to achieve in years to come. Although AI does not guarantee accurate and precise predictions about the future, it does provide support to businesses in the most efficient manner possible. It improves customer relations, employee performance and productivity level which, in turn, lead to higher sales and profits.

Author Bio

Taylor Ryan - Guest Author On Artificial Intelligence

Taylor Ryan is a six-time startup founder, currently the CEO of  ArchitectureQuote: Connecting Architects  With New Projects and Partner at Klint Marketing, A Digital Growth Agency and Creative Firm. Taylor is an American living in Copenhagen, Denmark where he has spent the last four years running the marketing departments for some of Denmark's fastest-growing startups. Connect with him on LinkedIn and Facebook.

37 Replies

  1. Real Bytes Gravatar

    By Real Bytes on

    As I read through this post on the evolution of Artificial Intelligence, I couldn’t help but feel a mix of excitement and trepidation – the rapid advancements in AI are truly astounding, but also raise important questions about the impact on humanity’s role in society. I’m particularly intrigued by the potential for AI to amplify our creative capabilities, but also worry about the potential consequences of ceding too much control to machines. As someone who values human connection and emotional intelligence, I hope that we can strike a balance between harnessing AI’s benefits and preserving our unique human qualities.

    Reply to Real

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Hi there, Glad you like and are enthused about this article on artificial intelligence and business growth. You make a lot of good points, and I agree with you that we do need a balance between AI and human qualities. Thank you for visiting my blog and sharing your thoughts, ~Keri

      Reply to Keri

  2. Sadek Gravatar

    By Sadek on

    I Agree with you that as you mentioned in the post. And it is really informative for all of us. Thanks

    Reply to Sadek

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Sadek, Glad you liked our article on artificial intelligence for business. Please feel free to share with those you feel would benefit. Thank you for sharing your thoughts, ~Keri

      Reply to Keri

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Sunil, Always happy to share information that will help business owners and marketing managers. Glad you find this article on artificial intelligence helpful. 🙂 Thank you for sharing your thoughts, ~Keri

      Reply to Keri

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Twyla, Happy we are on the same page regarding the use of artificial intelligence in business. Thank you for sharing your thoughts, ~Keri

      Reply to Keri

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Hi there, Glad you like this article about artificial intelligence for business. Thank you for your kind words, ~Keri

      Reply to Keri

  3. Applications of AI Gravatar

    By Applications of AI on

    Hello Keri Jaehnig, what an excellent post you have shared. Yes, the way the past generation looked at technology is completely different from the way we are looking today. Artificial Intelligence (AI) along with big data has become a boon for any business. For example, the AI-Chatbot feature of many E-commerce websites would help you to make your shopping easy. So, Really thank you for sharing such a valuable post. Waiting for more posts.

    Reply to Applications

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Hi there, Glad you like this post and feel it will be helpful to others. Technology has evolved quickly in the past decade or so. In turn, the way we use and evolve AI is as well. Chatbots are more and more popular across websites, especially for E-commerce, as you suggest. Thank you for sharing your thoughts, ~Keri

      Reply to Keri

  4. Ashis Porel Gravatar

    By Ashis Porel on

    Hi, I am really happy to say it’s an interesting post to read. I learn new information from your article, you are doing a great job. Keep it up.

    Reply to Ashis

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Ashis, Happy to know you feel this article on artificial intelligence for business is interesting and helpful. Thank you for your kind words, ~Keri

      Reply to Keri

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Serhan, Wow, thank you for your continued appreciation of this post! ~Keri

      Reply to Keri

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Serhan, Glad you like this article and feel it is helpful. Thanks for sharing your thoughts, ~Keri

      Reply to Keri

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Mahesh, Glad you enjoy our blog and found helpful insight here. We frequently update the blog with similar insights, so I hope you’ll visit again. Thanks for your comment, ~Keri

      Reply to Keri

  5. Ricardo Gravatar

    By Ricardo on

    I had great learning about AI in your post! thank you very much

    Reply to Ricardo

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Ricardo, Happy to know you learned helpful details about AI through this post! Thank you for letting us know, ~Keri

      Reply to Keri

  6. James Bolwell Gravatar

    By James Bolwell on

    Hey Keri, I loved the blog. I got many information about Artifical Intelligence.

    Reply to James

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      James, Thank you for your kind words. We think our guest author did a nice job too! Glad you felt this article gave you new insight on AI. We update the blog often, so I hope you’ll visit again. 🙂 ~Keri

      Reply to Keri

  7. Aditya Gravatar

    By Aditya on

    Interesting Content! Feel the reality that we live in a three-dimensional world. Feel what you need to feel with an enlarged reality application. Augmented reality app can influence organizations, ventures, and clinical organizations, retail businesses, numerous different kinds of associations, Augmented reality apps that overlay virtual images onto the real world are the best way to reduce the gap between the digital world and the real world.

    Reply to Aditya

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Aditya, You bring up some interesting ideas. Artificial intelligence can be useful. Machine learning is already helping some industries in our global workforce.Augmented reality can help business, medicine and some areas of society. At the same time, these technologies have evolved so fast, and niche leadership has not kept up. Or, they have opted negligence that favors the advancement of their technologies without oversight. If that is solved, then exploring gaps between the digital and real world will bring benefits and advantages. Left unwatched, bridging the gap using these technologies becomes a threat to our global society. Individuals have already died trying to “be first” to prove that. Here’s hoping the brighter lights shine. Thank you for sharing your thoughts, ~Keri

      Reply to Keri

  8. Rifat Gravatar

    By Rifat on

    Interesting blog.It would be great if you can provide more details about it. Thanks you

    Reply to Rifat

  9. Thoma5 Gravatar

    By Thoma5 on

    Thanks for sharing your knowledge. Great Piece and an eye opener. This information is very good and I really liked the way it is presented. Thank you for sharing it – I think it’s very valuable advice from your side Thank you for sharing such helpful information

    Reply to Thoma5

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Thoma, Thank you, thank you, thank you for your glowing comment. I’m sure our guest author also appreciates your kind words. AI is more and more a part of our lives, so we must know about it. Thanks for sharing your thoughts, ~Keri

      Reply to Keri

  10. Jade Copper Gravatar

    By Jade Copper on

    “Nice info!” “Great share!” “Useful post” “Amazing write-up!”Thanks for sharing your knowledge. Great Piece and an eye opener. This information is very good and I really liked the way it is presented. Thank you for sharing it – I think it’s very valuable advice from your side Thank you for sharing such helpful information

    Reply to Jade

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Jade, Thank you for your enthusiasm! It looks like you found this article helpful and resourceful. I’m sure our guest author appreciates your glowing words, as do I. Thank you for sharing your thoughts, ~Keri

      Reply to Keri

  11. Rohitprabhakar Gravatar

    By Rohitprabhakar on

    What a wonderful blog! I really enjoy your content! Actually, I’m also a technical writer and love to write about AI and other latest technological inventions. After reading your content I come to know so many things about AI. Thanks for sharing. All the best for your next blog!

    Reply to Rohitprabhakar

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Rohit, Glad you enjoy the content here and have learned from this article! Again, I’m sure our guest author appreciates your glowing comments. Thank you for your kind words, and for sharing your thoughts, ~Keri

      Reply to Keri

  12. Workforce Group Gravatar

    By Workforce Group on

    Taylor, this is an insightful post. AI future in the business world is promising, and it will revolutionise how businesses operate, just because the immense benefits can’t be ignored.

    Reply to Workforce

    • Keri Jaehnig Gravatar

      By Keri Jaehnig on

      Hi there, Glad you think this article is insightful. I also think Taylor did a good job presenting this information for our readers. 🙂 AI is already prompting so many changes. It will only speed up, and we will continue to see benefits … but also needed adjustments – some good, some growing pains. Thank you for sharing your thoughts, ~Keri

      Reply to Keri

  13. Keri Jaehnig Gravatar

    By Keri Jaehnig on

    Rohit, Thank you for visiting the blog and sharing your thoughts about this article. I’m sure our guest author appreciates your positive comment as well. 🙂 ~Keri

    Reply to Keri

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