How AI Can Benefit SMB’s Now & The Near Future

In just a couple of decades, artificial intelligence has made its way out of the movie screens into our lives. Today, you may be hard pressed to find a person in a developed country, who isn’t taking advantage of AI.

Companies of all sizes are closely monitoring the newest developments in the field in order to stay ahead of the competition. Failing to take full advantage of AI can mean the downfall of any business. In the recent survey made by Vistage, 29.5% of leaders said that out of all the new technologies, AI would have the greatest impact on their businesses in 2019.

How can your small or medium-sized business benefit from AI now and tomorrow? Let’s find out.

1. Improved Marketing Efforts

For modern marketing efforts, collecting information is the most important part of the campaign. Digital marketing experts from Miromind share that the more data you can gather about the target audience and the existing clients, the better decision you can make about further conversions, thus boosting profits and staying ahead of the competition.

AI has become an integral part of data gathering. CRM systems are collecting information across numerous platforms to give marketers a possibility to analyze it. These platforms are implementing AI to help with data gathering and analysis, thus improving the marketing efforts tremendously.

2. Automated Customer Service and Communications

AICustomer support is one of the most important factors that define a company. Today, you are unlikely to succeed if you offer customer support Monday through Friday 9 am to 6 pm. Customers expect round-the-clock support and may be upset when they don’t get it.

That’s where AI appears in the form of a chatbot. According to experts at Tricension, even though not all chatbots are developed well enough to cater to the various needs of the clients, they create a feeling of caring and involvement in solving a customer’s problem.

In many cases, modern chatbots can solve minor problems and give valuable advice. These bots don’t just improve the client-provider relationship, they free your employees from round-the-clock communications, allowing them to focus on other tasks.

3. Assistance for Human Resources

AI is becoming an irreplaceable assistant for human resource departments. For companies that have to deal with a formidable number of applicants, AI can keep the selection effort to the very minimum.

The software checks the applications to rule out candidates who don’t suit the requirements. Without AI, these tasks are done manually and take up a lot of time. Meanwhile, AI doesn’t make human errors, which makes the selection process even more efficient.

Overall, HR specialists save time and money while setting up interviews with the most qualified applicants.

4. Analyzing The Competition

One of the most important parts of any company’s success is knowing its competition. Analyzing how the competitors work and what makes them succeed is a tough task, which requires plenty of data collection, research, and selection.

AI can do all of the above in a short period, thus helping your business stay ahead of the competition. The speed at which AI software does its job is remarkable. In most cases, this speed can become your sole advantage over other companies.

In the future, the assistance offered by AI is likely to become even more effective. With the new technologies and developments appearing on a regular basis, in a couple of years, we are likely to see chatbots, which can solve complex problems, digital HR specialists, which can deal with the hiring process from A to Z, and much more.

If you want to stay on top of your game, take advantage of AI today. Otherwise, you may not have time to catch up later. 

By Maria Victoria MacAraig – Contributor    |      30/07/2019