If you’ve been to any conferences this year or read any tech news recently you will have heard the buzzword “AI” (or Artificial Intelligence) come up. But what does it actually mean for the majority of us? Aside from robots debating the future of humanity. And how can you use it to run your business?
Depending on what you need, advances in technology can save you time and money, so you’re free to work on what really matters—running your business. We show you how!
This is how AI can help your business:
- Frees up time. So you can concentrate on strategic decisions.
- Saves money. By cutting down on recurring costs that come with training and hiring.
- Improves efficiency. Tasks can be completed faster with fewer errors.
- Creates new jobs. Niche positions will open up in new industries.
What is Artificial Intelligence (AI)?
Techopedia defines AI as ”an area of computer science that emphasizes the creation of intelligent machines that work and react like humans.” However, the reality is that AI can encompass a wide range of definitions, as we have yet to define exactly what it means to be intelligent. Intelligence often depends on context. In this article, we use AI to talk about sophisticated tools with algorithms, tracking, and analysis to optimize your business processes.
How is intelligent automation beneficial?
As a small business going up against giants in your industry with vast resources, you need to be able to compete with half the manpower and less financial budget. This is where AI comes in to help you execute routine operations and scale up faster. Here are some of the benefits:
It frees up your time
If you’re a freelancer or small business, you’ll have many day-to-day tasks that you have to take care of yourself. These will range from the mundane routine tasks to top-level strategic decisions that can change the direction of your business. Automating these tasks will free up time for the important tasks that add genuine value to the business.
In the long term, you’ll not only be more productive, as you can get more done in a shorter amount of time. You’ll also be more creative as a company.
Saves you money
When you’re starting your business and trying to get it off the ground, every penny counts. There are recurring costs that come with hiring experts and training people, not to mention employee turnover. If you have a task that can be automated or uses AI, this amounts to a one-time cost. Once trained, the machine can even improve over time. This will free up your budget for tasks that require more in-depth expertise and analysis.
I will hold my hands-up to making a typo (or ten) in the past because as humans we’re fallible. When it comes to boring, monotonous tasks, sometimes our concentration on a given day just isn’t up to it. So why not automate the tasks that can be done more efficiently by AI? The task can be done in double the speed and with time it can learn from the output, improving efficiency.
And best of all, an automated solution will make little or no errors and free up your mind for the more challenging task of keeping your business on track.
Creates new jobs
According to a survey by Pew, 72% of Americans are “very or somewhat worried about a future where robots and computers are capable of performing many human jobs.” This is an understandable reaction, but what about the other side of the coin? Whole new niches will come out that create challenging and more interesting roles for employees. Think back just ten years ago, could you ever have imagined the role of social media manager, blogger or influencer?
What AI tools can I use to run my business?
It may surprise you how many options are already out there that can help you optimize your business. Here are a few examples that can help make the day to day running of your business that much smarter.
Create a website using AI technology
If you want to be successful, an online presence is a must and that’s where your website comes in. If you don’t have the time to create a website from scratch, Jimdo’s website buildercan do it for you in about 3 minutes. Just click on “Start now” and if you already have a Facebook or Google business page, Dolphin will pull your company information and images to create a beautiful, professional website for you. There’s no copying and pasting or coding involved. The aesthetic rating algorithm will then choose the most high-quality images for your website.
Smart SEO will then detect any broken links on the page so you can correct them and take care of any SEO housekeeping tasks like 404 pages. The diagnostic tool then points you to the areas of your website that can be improved and helps you fix it with step-by-step SEO help throughout.
Improve your marketing with optimized ads
There’s a reason why Facebook made $11.97 billion in revenue the first quarter of this year and it’s all due to their secret weapon—targeting. The platform uses artificial intelligence to identify and target the right audiences for their ads.
Take a page out of their book and use their targeting tool to promote your business to custom audiences straight from your website. Targeting options range from demographics and location targeting to interests and behavior which are based on other ads a user has clicked or pages liked.
Use social media management tools for trends
Social media management tools can be useful for several reasons. Apart from easily being able to schedule posts and campaigns over multiple social platforms, it can also keep you one step ahead of the competition.
Tools such as Falcon.io and Hootsuite monitor your competitor handles and what marketing tactics or key product phrases they’ve used. Especially interesting is the tracking of brand-adjacent terms that uses an intelligent technology to find prospective customers. You can check what keywords people have used to look up a product or service and have shown “purchase intent” in your field.
Analyze sales performance
Sales are the lifeline of your business especially when you’re starting off. Tools such as Gong use AI to assess emails, calls and web conferences to tell you what worked and what didn’t work.
The platform compares the techniques of your most successful sales reps to every other salesperson in the company. It analyzes variables such as word choice, ratio of time spent and talking vs. listening, to check winning tactics which you can then use to coach your sales team.
Use chat to help your customers
When a customer walks into a shop on the high street you can greet that person and offer them personalized help. But what happens when you have a website? The idea behind the Jimdo Live Chat app is that you should be able to talk to the people who use your website. Customers can ask questions via your website and get help if they need it. You’ll get a notification on your app when a message comes through on your website.
Studies show 85% of people would pay up to 25% more to ensure a superior customer experience so it’s definitely worth the investment of time.
It pays off to take advantage of the latest technology to advance your businesses. Not only can you cut down on manual tasks that take away from your main job but it can save you money and time. And the best part is that anyone can use these tools!
Give them a try and let us know what you think in the comments!