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One of the unexpected side effects of the COVID-19 pandemic was a boom in the number of businesses adopting artificial intelligence (AI). As the pandemic left businesses in need of innovative and efficient ways to meet shifts in consumer trends and new demands, they leaned into the promises of AI.
For many businesses, the enhanced productivity and new business opportunities that AI empowered made it possible to stay afloat. For those who have yet to wade into the world of AI, here are ten reasons that you should begin integrating AI systems into your business now.
1. AI provides a personalized customer experience
Experts in the world of e-commerce point to customer experience as a critical component of converting visitors and encouraging repeat sales. AI is a tool that can ensure customers have a rewarding experience.
“By analyzing data on customer activity, AI can help businesses more clearly understand what customers want and need,” explains Anthony Chavez, Founder and CEO of codelab303. “This allows businesses to offer their customers the products, services, and experiences they are most likely to be interested in.”
codelab303 provides clients with a team of experienced designers, engineers, and producers who can assist in building engaging, efficient, and effective creative technology experiences for their business.
2. AI improves customer service
Businesses can leverage AI to improve customer service by powering systems that automatically respond to customer queries, route customer calls, and provide personalized recommendations. This allows them to increase the speed and efficiency in responding to customers’ concerns and issues.
AI can also go beyond reactive customer service to provide proactive customer service, helping businesses to identify trends and issues before they become problems. In both cases, AI can serve to improve customer satisfaction and loyalty.
3. AI empowers rapid prototyping
Prototyping can be a complicated process that can involve cost overruns, time delays, and unforeseen bugs. Leveraging AI gives businesses a greater capacity for anticipating and addressing problems.
“AI is a great solution for businesses that want to test new concepts or ideas quickly and easily,” Anthony says. “By utilizing AI in the development and creation of new prototypes, businesses can reduce research and development costs, streamline maintenance and debugging, and decrease time-to-market.”
4. AI assists in optimizing processes
By analyzing data, AI can help businesses to identify inefficiencies and bottlenecks in their processes, paving the way for changes that boost productivity and profits. In this regard, some applications for AI include predictive maintenance, waste reduction, yield maximization, demand forecasting, and inventory management.
Anthony offers Remi as an example of how AI can optimize processes. Remi is an AI supply chain platform that assists businesses with identifying lost sales, implementing dynamic pricing, managing replenishment optimization, and discerning product trends.
5. AI assists in generating content
For businesses focused on attracting online customers, content creation is critical. AI assists with generating content faster and more efficiently. AI-driven engines can empower businesses to craft more relevant and personalized content for their target consumer market, maximizing their reach and ROI as a result.
A wide range of AI-driven services already exists in this area, including Jasper.ai, Copy.ai, AdCreative.ai, Frase, and Quillbot.
6. AI improves performance of non-human jobs
AI excels at handling tasks that are naturally better suited to computers than human workers, such as task automation, data transformation, incident response, geo-spatial analysis, and the processing and analysis of large sets of unstructured data. By leveraging various AI technologies, the cost and speed of these processes can be optimized, translating to bottom-line gains for businesses.
7. AI empowers process automation of marketing and sales
There are a wide variety of ways in which AI can empower a stronger sales and marketing process, not the least of which is automating tasks such as lead generation and customer segmentation.
“Fundamentally, all digital marketing is placed by a machine, making it a great candidate for robotic process automation,” Anthony explains. “By leveraging AI to automate marketing, businesses can ensure that they are getting the best leads and engaging with them in the most productive way possible.”
8. AI provides rare insight from big data
By analyzing data, AI can help brands identify trends and patterns in their business’s activity, revealing what is working and what needs improvement. Armed with this information, businesses can make more informed decisions and optimize the decision-making process to save time, money, and other crucial resources, allowing them to prioritize and focus on more important tasks.
9. AI brings efficiencies to IT Ops
Artificial intelligence for IT Operations, known as AIOps, unleashes the power of AI to assist businesses in maximizing the effectiveness of their IT Ops, DevOps, and Site Reliability Engineering teams. By providing data analysis, AIOps allows businesses to better detect, understand, and resolve the IT issues that lead to outages and digital downtime.
10. AI increases security and minimizes risks to businesses
Cybersecurity is one of the most important aspects of business today, regardless of the field in which the business operates. Recent statistics show that a new cyber attack is launched on a business every 39 seconds. AI can assist cybersecurity professionals in detecting and preventing malware attacks, phishing, and other malicious behavior, as well as empowering teams to respond to breaches more quickly and effectively.
Overall, AI provides businesses with a pathway for enhancing products and optimizing operations. Those willing to invest in the technology and develop the expertise gain access to a tool that can enhance virtually every facet of their business and open new doors for growth.