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Six Clear Ways Artificial Intelligence Will Impact Business

Estimated reading time: 3 mins

When people hear the term “artificial intelligence,” they’d be forgiven for immediately thinking about aliens. However, what we mean is the ability for computers to perform tasks that would typically require human intelligence. So, think about how Siri on smartphones works; we ask it a question and Siri answers. We use our Alexa in the kitchen to set reminders, play songs, search for recipes – and we do it all with voice activation and let the computer do the work. This is artificial intelligence in action, but there is so much more to it than that!

Artificial intelligence has one goal, and that’s to ensure that computers are smart enough to replicate the behavior of humans. This means that this can be implemented into day to day business to complete tasks and achieve business goals. Business has evolved just as much as technology has over the past thirty years, but artificial intelligence is further changing the landscape. It is going to change the face of business in ways you couldn’t imagine, but here are six ways in which artificial intelligence is going to impact your business soon enough.

Machine Learning

Did you know that with the right algorithms, your computer programmes can learn from previous mistakes? Artificial intelligence plays a part in this, and when you put artificial intelligence with business, you get a flexible way to manage crises in the workplace. Software will behave in a way that is more proactive compared to previous results.

Customer Service

Currently, we use CRMs (customer relationship management systems) in our sales and marketing departments. It works well to help us to maintain our past relationships, nurture our current customers and find future customers, too. However, a sales automation CRM that uses artificial intelligence could change the way that you do business, cutting out the time wasting and ensuring that you are nurturing all of your customers in the right way. Customer service is so crucial for your business, and it’s one of the most time-consuming areas of business, too. Chatbots can change the way you manage your customer feedback and complaints, and with data collection, this is only going to improve.

Talent Acquisition

We depend very much on technology, but human interaction is still the most critical aspect of a business. With the right artificial intelligence, your workplace is going to thrive. You need to be able to tell which of your employees is going to remain with you long term, and you need to know the costs of hiring – the right artificial intelligence programme can help you to understand how your candidates will behave. You can really utilize your human resource department to ensure that you are reducing the time and cost of the recruitment process.

Reducing Human Error

People make mistakes; there’s no denying it. Even the smallest of errors can be devastating for a business, and if you can eliminate this where possible, wouldn’t it make sense to do so? Artificial intelligence in the workplace can do this, and while people are fearful of robots taking over the workplace, there’s no doubt that business efficiency can be increased exponentially. Being able to create a workplace environment that is almost entirely risk-free is going to be a Godsend to specific industries.

Data Measurement

Without data, artificial intelligence will fail in the workplace. With big data measurements, artificially intelligent programmes will be able to anticipate the future of your business. If your business software could perform evidence-based reasoning and content analysis effectively, the decisions that you make for your company are going to be smart, and there will be better management of the business. Finding the trends and patterns for your business is vital for your use of artificial intelligence to be successful.

Generating Leads

To identify potential customers, you need the right sales team and CRM to do so. Cultivating the right customers is vital for your success in a business and lead generation is going to help you to get there. Finding the customers for your business is the way you keep afloat, and we mentioned a programme earlier that uses CRM with artificial intelligence to manage customers better. These are some of the ways that you can encourage lead generation for your business, and not only that, but they can convert those leads to sales for you.

Artificial intelligence may be new to business just now, but it’s going to grow, and every company out there will benefit.

 

About the author /


Simon is a creative and passionate business leader dedicated to having fun in the pursuit of high performance and personal development. He is co-founder of Applied Change, a Business Change consultancy based in the UK. Simon is also an Ambassador for Gloucestershire business. Simon is an Associate Member of the Chartered Institute of Professional Development.

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