February 16, 2021 Last updated February 16th, 2021 547 Reads share

Which Ways AI Can Improve Your Business?

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Artificial intelligence (AI) is one of the most important technologies that we have access to in our fast-paced modern world, and it has the potential to completely revolutionize the way you do business, no matter which industry you’re in.

Part of that is because the technology is so versatile. It can help to think of AI software as powering prediction machines, which are able to take huge amounts of data and to process it all to come to conclusions. This is what gives them their strength, and it’s the reason why sites like Netflix are so successful. The more data they have access to, the better the algorithms become.

Netflix, then, basically works by using AI to make predictions about what any given viewer might like. Self-driving cars work by predicting what a human driver would do in any given situation rather than by following a set of rules.

Now that’s all well and good, but what does that mean for you and your business? Let’s dive on in and take a look!

AI on Your Website

One of the most obvious ways to use AI is to integrate it into your website. It doesn’t matter whether you’re running an eCommerce store or a content site, and nor does it matter whether you’re working with a WordPress or a Magento development team. AI can help.

Most notably, AI is great for personalization, allowing you to show different content to different people based upon what you know of their interests. It’s similar to how Netflix provides super personalized recommendations based on people’s viewing histories. Imagine being able to do the same, except instead of making content recommendations, you’re pushing people to purchase your products.

AI can power super personalized product and content recommendations, but it also powers the latest generation of chatbots. Chatbots are great because you can integrate them into your website to provide an easy way for people to ask questions. Unlike human sales assistants, chatbots never tire and never sleep, which means they can be available around the clock even if you’re a small business.

Chatbots have something of a bad reputation, which seems unfair. Sure, they weren’t great twenty years ago, but now that they’re powered with artificial intelligence, they’re so close to humans that it’s often hard to tell the difference. They’re certainly good enough for handling basic questions, especially when you can’t have someone available around the clock.

But it’s not just your website that AI can help out with. It also sits under the hood of a whole heap of different tools and technologies, and in fact, there’s a pretty good chance that you’re already using some sort of AI software even if you’re not actually aware of it.

AI in Your Business

We’ve talked a lot about how AI can be used to make predictions, and it can do the same thing across a whole bunch of different areas across your business. For example, it can help with stocking and procurement because it can make better estimates of what you’re going to need and when you’re going to need it.

It can even come in handy for recruitment, especially if the AI itself has access to plenty of data. For larger companies, they can even use AI-based personnel management software to look for ways to recruit internally, promoting growth and helping people to develop careers instead of just working jobs.

Ultimately, it comes down to the fact that AI can help in any part of your business that could benefit from predictions. That means that your finance department in particular can benefit hugely from AI, because they can more accurately make predictions and monitor cash flow.

In a similar vein, your operations team can streamline itself and witness huge improvements if it integrates AI-based software into its workflow. From staffing and recruitment to the supply chain, AI and the powerful predictions that it brings to the table can revolutionize the way that you get things done.

What it really comes down to is creativity and a willingness to try new things. You don’t necessarily need to hire someone who specializes in AI development, but you do need to keep an eye on the latest industry trends and to be willing to try new AI-based software.

Conclusion

As with most things, you’ll need to try AI tools out, see whether they work for you, and then keep what helps and scrap what doesn’t. If you do that, AI can give you an edge over the competition and make your company more sustainable in the long run.

Now that you know just a few of the main use cases for AI in your business, it’s over to you to figure out how best to make AI a part of your workflows. The good news is that there’s so much potential for artificial intelligence that you’re sure to be able to find a way to make it work for you. Let us know how you get on!

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Andrew Mikhailov

Andrew Mikhailov

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