5 Ways AI can help your small business thrive
5 Ways Your Small Business Can Use AI to Thrive Big Time
You’d pretty much have to be sleeping under a rock or hibernating for the past year or so to not have heard “AI” (artificial intelligence) talked about in the news, on TV shows, in educational settings and even – if not especially – in the public sector. And, for good reason. AI is rapidly infiltrating nearly every aspect of our lives. And, like everything else technology-related, if you don’t jump on the bandwagon and learn to adapt and adopt AI in your business operations, you will be left behind. Your small business may soon be out of business.
AI Today scoured the web to find the best ways small businesses can reap the rewards AI has to offer them. Here they are:
- Enhance operational efficiency Much of small business operations are repetitive and routine. Use AI to automate bookkeeping, expense tracking, data entry, scheduling, and inventory management. Automatically optimizing inventory levels reduces overhead costs while increasing customer satisfaction by making sure inventory is in line with customer demand.
- Enhancing employee training Using AI to bring new-hires up to speed or to keep your entire team updated on changes to your business is critical. Developing an AI-driven employee training program not only frees you up to better manage your business, it ensures everyone consistently receives the same training every time.
- A better customer experience By now, you’ve likely experienced AI-driven customer interactions with a variety of businesses. Chatbots or AI-driven assistants are available 24/7 to solve many problems your customers might experience while interacting with your business online. Lighten your load and hand over answering frequently asked questions to your digital assistant. When you do so, be sure there is always a human-in-the-loop to lend a helping hand if your customers’ questions can’t be answered by your bot. You don’t need to be available 24/7, a prompt to let customers know you’ll reach out during business hours will suffice.
- Send sales soaring AI can analyze your sales data such that you can better predict while leads are most likely to convert. This way, you can find, and focus on, the lowest hanging fruit on your sales tree.
- Know your market When you use AI to distill market trends, you can more quickly and more effectively identify which products customers prefer and which products to develop in line with their preferences.
Learn how AI can help your business grow
Top 3 Takeaways
- AI is for every business, not just big business
- AI can help you drive growth, efficiency, revenues, and profit in your small business
- Like everything else tech-related: Adopt and adapt or die. You will need AI to stay competitive
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