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The Impact of Artificial Intelligence on Small Business 

Chances are AI is already influencing and changing your life in the ways you may not even realize. For example, do you use Siri or Google assistant to help yourself send a text? And how about Google Maps which help millions of travelers orient themselves in the new terrain? All these applications rely on artificial intelligence to create route suggestions and based on your previous travel patterns. Other systems like Spotify, Apple Music, or Amazon Prime Music use AI to suggest tracks one might like. 

Despite how it may seem you don’t have to be a fortune 500 company to take advantage of AI. It’s actually become a lot more commonplace and affordable than most small business owners realize. So how can AI enhance your business?

To find out more about modern techs and solutions for growing your current business, as well as data science and analytics trends, don’t hesitate to check out this source.    

Personalization 

A highly successful businessman, John Sculley, once noted that “AI will be foundational for consumer products and services that want to target a specific consumer.” What does he mean by this? Today personalization is currency. So, it is no wonder that predicting what your target audience wants to see and when they want to see it is truly invaluable.  And that’s where AI comes into play. Al-based marketing applications can be used to analyze the habits and preferences of your target customer so you deliver your message at the time they are most likely to hear it. Such huge companies as Facebook use AI to put their ads in front of people who are most likely to act on them.   

Strategizing 

It’s a great idea to harness the power of sales applications for more effective strategizing, which, as you know, is crucial for the success of any entrepreneurial venture. Sales applications can be used to compare the strategies of your sales representatives. Dedicated programs will transcribe their calls and identify the common thread of high performing team members like specific word choice or the amount of time they allow this or that customer to speak. 

Improving CE

Other AI services like chat bots provide your customers with the space to send secure feedback. They are then able to mine this data so you can carefully improve each step of customer experience. Many of these chatbots can be taught what resources to provide visitors with specific questions.  

Keeping Tabs on Competition

Furthermore, artificial intelligence techniques may come in handy when evaluating your competitors’ strategies, marketing techniques, and much more. AI models are capable of recognizing contextual linguistic patterns which can go a long way towards helping you evaluate customers’ sentiment towards your rivals and figure out what makes customers engage with a certain brand or a company in an emotive way. 

Streamlining HR Processes 

It is also worth noting that AI applications can be used in streamlining your human resource business processes. There are dedicated programs designed to scan resumes for particular qualities and experience required for this or that position. Such programs employ a special algorithm that can spot required keywords that are observed to keep the culture of your company. 

Recognizing Patterns

AI is built to recognize patterns, and the capabilities are endless here. That being said, it is important to prioritize where it will benefit your business the most. For example, just because Facebook Ads works perfectly for one company doesn’t necessarily mean that you also should be adopting this strategy. You should figure out what will reap the best reward for your company, then come up with a well-thought out game plan, set specific goals, and make sure the tech you are about to bring on board is actually meeting them.

Where to Start?

But choosing where your AI journey begins is not an easy task. A Forrester Survey found out that 58 percent of businesses considered AI, while only 12 percent have ventured to put them into practice and reap actual benefits from them. It’s important that you don’t let the initial efforts hold you back from biting the bullet. Prior to harnessing the AI potential, you want to make sure you have the means to support it. Adopting cloud solutions will allow your IT to seamlessly grow with the rest of your business. Modernizing your IT to support these applications will help you stay ahead of the curve and be ready for upcoming changes. Should you need any help implementing the new tech into your business? Don’t hesitate to contact professionals to ensure the process goes smoothly.