How Artificial Intelligence Is Going to Change Small Businesses Forever

What you think about when you hear about artificial intelligence? What do you think about robots? Or maybe automated processes that can be done without people included in them? Or an advanced way of prediction of someone’s behavior in specific cases maybe? Ant the truth is – you are right about them all. AI is changing a lot of aspects of our life, and in many ways, all those changes are for good. In the first place, it decreases the risks for human error in businesses. It has a huge influence over the marketing sector, especially when it comes to social media campaigns, personalization, customization, and right targeting.

If you use Facebook or other social platforms, you probably know that you often see ads that are related to your interests. The device you hold in your hands tracks your activity, collects the data, and then creates a custom feed with content that is relevant to you. And this is only one of the many examples of the influence of AI on businesses. You can check on SYPWAI  to see how it’s all implemented and leading to success.

On the other hand, there are a lot of people who aren’t ready to embrace the changes and tech improvements, so they may hate AI for some limited time until they see how it may speed up all the processes, and make the business more successful.

But, what is AI?

It’s an intelligence that is provided by machines, made by humans, who can learn and make decisions based on parameters. It’s different than natural intelligence, which interferes with emotions and other factors that makes humans different than machines. We can also say it’s a simulation of our intelligence and may mimic our actions, without including the questioning about emotional and ethical decisions. It’s dedicated to problem-solving in the most predictable way, which is still the right one. It doesn’t take the human behavior traits as a factor too if they aren’t included in the code that runs the machine.

It’s used in manufacturing processes and production lines in the industry. Then, it can map the critical behavior, and make decisions based on it. Self-driving cars are also an example of AI. At the same time, artificial intelligence has a capacity for natural language processing, social media monitoring, assistance, different types of management, and so on. It can be used in marketing campaigns, to create bots that talk to potential clients, and to target the right audience. It is also used in healthcare, and the current pandemic showed how it can be implemented in the healthcare management, to provide the exact diagnosis and treatment, knowing that there are a lot of patients at the same time, and the staff is not capable to remember every aspect of their clinical picture. The AI can also be used in popular crypto trading too, or even in online gambling. It can be a virtual travel assistant or financial advisor too. You only need to enter the right parameters and let it decide for you, or at least suggest what you have to do.

The role of AI in different types of businesses

Many research results are showing that when a company implements AI in their job, it results in increased sales, smart decisions, increased revenue and profits, and better product placement when they offer something. And we can’t deny that the industry is already changed due to the AI development, because:

1. It can help us get better customer insights

The daily, weekly, and monthly reports are giving us great marketing and customer insights, to see how something performed, and make decisions based on that. AI is capable of data mining and putting them all together in a report we can use to predict future behavior, and offer the clients exactly what they need. The companies can either hire an outsource organization to track this for them, or they can have a developer in the team, who will be dedicated to them. Don’t underestimate the power of customer insights, because the customers are vital to your business, and their behavior is more helpful than any book you can learn from.

2. Automated processes

You can do everything by yourself and include the team in that, or you can simply automate some of the processes, to perform better. The AI offers a wide range of tools for that, and they can be used in a lot of industries, including retail, schools, manufacturing, healthcare, and many others. Keep in mind that it can replace a whole team of people, so there is a moral issue behind that, and you have to plan things smartly.

3. Offers virtual assistance

Many businesses are already using virtual assistants, like chatbots, or voiceover instructions, so the people can find the answers they want, without having to call phones and look for the person responsible for the issue they may have. For example, when something is wrong, you reach the contact center and send a ticket to their team. They will reply with a generic email that includes instructions on how to fix the problem, but if you can’t resolve it, they will assign a chatbot to answer the questions, using the keyword tracking tool. Many people resolve the issue at this point. If they don’t, they can talk to the agents or call them, until everything is done.

4. Easier recruitment

When a company announces they have open job positions, their emails can be filled with a bunch of messages and CVs, and that process can last for months. But, with a proper AI solution, the system will find and choose the right candidates, saving a lot of time in the selection phase. At some point, the HR experts will do their job, but artificial intelligence makes the whole thing easier for them, saving a lot of time, money, and labor.

There are many more aspects that AI covers in businesses nowadays. With the relatively recent development of artificial intelligence, there has been a significant rise in the number of tech jobs available that utilize this technology. Jobtensor has a good overview of AI related jobs in the market.

It’s always a good idea to embrace the changes, without going against them, because they can be pretty helpful, especially for the startups and new companies on the market.

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