Before we dive into the magical realm of Artificial Intelligence and the impact it can have on your business, let’s understand the meaning of the word. This has become quite a common word, and it is used on almost most solutions associated with a company. The word has caused quite the ripple in the industry. What is artificial intelligence? The word intelligent represents a person of high intellect. And AI means machines and applications containing this intellect and power. They were designed to improve the consumer experience and help companies have a better hold in the competition. Though the brands in the same industry can deploy the same application, the difference would like in the utilisation and customisation of that particular application. There are various uses of this technology, and it could be implemented in multiple sectors like logo making, marketing management, lead generation, finance, recruitment, etc.
It is essential to understand the requirements and vision of the company before considering the vantage points. It is never advisable to rush head-on without understanding the basics. Let’s take a look on how Artificial Intelligence can add value to your business.
Productivity
How do you define productivity? How do you ensure that all your efforts provide good results? There are two types of work in any office environment. The kind which makes the actual difference and the class which creates all the necessary sort of elements to make it. Though both types of work are equally important, the time involved to handle it determines the productivity of the brand. We spend most of the time preparing the pre-requisites that we feel overworked and exhausted. AI technology aims to digitalise and organise most of this type so the resources can be utilised where it is needed most. This will help in increasing the productivity of the brand.
Resource management
Overworked and underpaid is a familiar mumble among the employees. This could be a deadly threat as it slowly kills the employee morale. It has a direct impact on the productivity of the company. Some of the common questions asked by these people are inclusive of these two. What is my job profile? What are my roles and responsibilities? Though almost all companies provide documents on this, there is a high chance that it can get lost over time and translation. Resource applications serve as a reminder tool for the employer and employees to serve their purpose. It would work in both motivating as well as rewarding them.
Time optimisation
Even though time is measured in hours and minutes, it loses all meaning in the workspace. We get so involved in it that time slips away. This has a positive as well as a negative impact. This can cause a severe delay in specific scenarios. It is essential to have a pre-defined timeline and ensure that the team delivers their job within the stipulated time. Project Management tools and other related applications make this possible by helping the management assign the individual tasks and also gives the employees schedules and reminders. This contributes significantly to the optimisation of the workforce time.
Budget plans
How does artificial intelligence help you to cut costs? This could be a confusing question as a specific amount of commercials is required to set up the system. However, this has to be considered an investment and not as an expense. These applications help the team to work more effectively, does most of the analytic work, help in creating more meaningful campaigns, analyses the data to check its success, offers insights on the changes that can be implemented, etc. All these factors help the business to save a lot of money and spend more time in increasing the productivity.
Efficiency
What is efficiency? Is it the number of sales you make in any given day? Is it measured in numbers? Is it estimated in brand reach? Is it expected in customer retention? Is it measured by how well you do your allotted job? It is the cumulative effort taken by every member of your team and the result achieved by all the effort. The first step in determining the efficiency would be to define your goal and find the application to ensure to reach your goal. The app will help you in allotting resources, managing deadlines and generating reports. All these steps are a vital role in improving the efficiency of a business.
Consumer relations
Improving consumer experience was one of the primary principles of Artificial Intelligence technology. There are various avenues which can be implemented to help businesses identify their target audience, conduct personalised campaigns, track consumer behaviour, position themselves in the right place at the ideal time, offer assistance and guidance, troubleshoot any issues and even perform after-sales survey. The technology can be used in both web and mobile mediums which makes it even more useful.
These are specific changes which can be experienced by implementing the technology in your business. An online logo maker can invoke the creative artist in you and helps you design the ideal logo for your brand with minimal hassle. A marketing application can collate and analyse all the requisite data and enable you to conduct an effective campaign. Sales software can help your team work towards their target in a more productive way.
Recruitment and human resource application will assist in the proper utilisation of resources as well as create innovative incentive plans. AI is a pretty big sector, and it could be difficult to take it at all once. Start small and understand the feasibility of the same in your business. It is also critical to be open to the reviews and feedback from your peers and colleagues. It is time to begin and start making history.
