The Business Benefits of AI
Artificial Intelligence is set to be one of the biggest technologies to shape the business world (and the world in general) in 2021 and beyond, but it can be expensive, so before you invest, you’re going to want to know what benefits it can bring to your business.
Improve customer comms
AI entrepreneurs like Adrian Jones Oracle believe that humans should not have to carry out many of the mundane tasks that they currently do, and it’s fair to say, that for many business owners, customer communications, although vital, can often be mundane, repetitive, and take up time that could be better used on building the business.
It’s good news then, that AI chatbots are becoming more widely available and are able to very effectively answer many of the questions your customers may have. They’re getting better every day at understanding nuances in speech and directing your customers to the right places, which means you and your employees will be able to spend less time on this particular task.
Improve brand loyalty
Artificial intelligence makes it really easy to personalize your brand experience so that every single customer feels like they are getting your undivided attention. In a time when more brands than ever are competing to be the number one, this is one real advantage that AI can bring to your business.
AI can very effectively use your collected data and the purchase histories of your customers to predict what they’re into and deliver content and messages that are fully bespoke to each one. Segmenting customer communications like this has been shown to increase click rates by as much as 14 percent, so it is certainly one investment that is totally worthwhile.
Make hiring easier
AI can help you to filter candidates more effectively, which will cut down on the time and costs associated with hiring new recruits. From automatically screened calls to AI analysis of candidate resumes and any other data held about them, it could be said that you are far more likely to get the right person for the job if you use Ai than you would by relying solely on a human resources team!
See into the future
Okay, so AI isn’t actually a crystal ball, but it can help your business to more accurately predict future trends and improve your forecasting accuracy, which is really important if you want to stay ahead of the competition. For one thing, AI will remove the human error that has always been a part of forecasting, and for another, it will be able to analyze way more data than the average human, which means it can really get to the heart of matters and pinpoint what’s going on.
One study by McKinsey predicted that AI would boost business cash flow by more than 120 percent in the next decade! If that isn’t enough to persuade you of its benefits, I don’t know what it!
AI is the future, so be sure to embrace it!
Categories: Outside Contributors
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