The business world is experiencing a series of transformations as a result of progressive technological advancements. And this has become evident ever since the adoption of artificial intelligence in business.
As reported by MarketsandMarkets, the AI industry is predicted to soar annually with a CAGR of 39. 7% (Compound Annual Growth Rate).
Many businesses are already incorporating artificial intelligence into their day-to-day work operations. And just in case you might ask _ it is currently the trend of things. Nonetheless, in this article, I’ll shed more light to buttress this point with five different ways that artificial intelligence will improve your business; number 5 will blow your mind!
1. Automated Digital Marketing
Before now, when we talk of social media, only a few big brands come to mind, such as Facebook, Twitter, and YouTube. But today, we now have several other mega social networking platforms, including Instagram, WhatsApp business, Pinterest, TikTok, Linked In, etc.
This is excellent news for your business because it provides various platforms to implement an effective digital marketing strategy for your brand. However, ensuring a perfect internet marketing approach for your business requires that you keep up with the trend by establishing your brand presence in the major social network platforms.
This might mean several of them, as the case may be. However, regular posting of content on multiple social media apps can be a tedious task. Several big brands typically employ a team of professionals to handle it; some successful companies even outsource to social media management agencies.
Plus, What if your brand can’t afford to hire a team for that single purpose? This is where the need for AI arises. Artificial intelligence provides you smart devices that can pick up and compile personalized marketing data on a regular basis.
Additionally, chatbots are customer-friendly AI tools that can assist with responding to all your customer queries on these social network platforms.
2. Improved Data Security
One major hurdle that you’d have to deal with in maintaining your brand online presence is ensuring adequate security of crucial data; this includes your brand’s data and the personal information of your customer base.
It is worth mentioning that, this on its own, is a factor that can determine the number of sign-ups or users on your website, as no one wants to risk having their details hacked. Unfortunately, many companies spend tremendous amounts on data security alone and sometimes suffer security breaches due to persistent cyberattacks from hackers.
Artificial intelligence has provided a long-lasting solution to this problem. Through the application of machine learning, deep learning, and productive combative networks, online threats and malware can be detected and automatically responded to appropriately.
Another AI solution, known as pattern recognition, can also help check fraudulent transactions on your site. Additionally, AI systems can be set up to alert your company’s security personnel whenever an online threat is spotted across your company server.
3. Improved Recruitment Process
The staff recruitment process is one vital activity that every company usually carries out to acquire a well-qualified workforce. This can be a rigorous process for the employer or HR department (for large brands), especially when several job applicants are interviewed.
Moreover, you want to ensure that you take your time to hire only the best candidate fit for the job role. Artificial intelligence has made the recruitment process easier and more effective through software and AI-powered devices that can quickly and efficiently handle job interviews.
Besides, by using software in the hiring process, the problem of bias by certain HR officials is significantly reduced. These AI apps have proven to be handy for small business owners and human resources departments alike.
4. Enhanced Supply Chain and Inventory Management
Artificial intelligence can bring a lot of improvements to the supply chain of an industry. For example, several production processes such as filling, wrapping, checking, and packaging can be automated using AI robots.
Also, through image recognition, AI sensors help reduce production errors by detecting defective products and removing them from the production line. Furthermore, incorporating AI in your company’s inventory management can help optimize sales by using software to determine product arrangement and distribution.
A case study is seen with The American multinational grocery store giant Walmart, which has succeeded in boosting sales and revenue of the company by using AI to select the right kinds of food for various weather conditions, such as producing more steaks when it is cloudy or during warm weather, berries during sunny weather and more burgers when it is less windy and hot. AI can also be applied in checking and sorting products from shipments via image recognition.
5. Reduced Errors
As humans, we inevitably make mistakes. For the most part, the error usually occurs when we are distracted by emotional or physical circumstances. The slightest human error during a production process can cause a big company several millions of dollars, together with potential reputational damage.
In some cases, mistakes can lead to the loss of the users of such a company’s products. That being said, insofar as we try to be perfect at work, there are still times when we might make mistakes as humans.
But with the use of artificial intelligence softwares in performing highly sensitive tasks, human errors can be minimized to the barest minimum. Unlike humans, these softwares cannot be distracted in any form and have been programmed to function by precisely following stipulated instructions and guidelines.
Conclusively, AI is transforming the way we do business today, and it has only just started; more is yet to come. It will help if you begin incorporating AI in your business now.
And you don’t have to start on a grand scale; you can start gradually by automating some simple tasks, then you move on to more significant tasks and business operations. Of course, it would be best if you also had expert software developers like SKILLSEEDS to help you advance your business.
if you have any questions or contributions, feel free to drop them in the comment box below.
See you in the next article!