by Clara Jones - Guest Author
Artificial Intelligence (AI) has seen rapid and widespread adoption in the past few years. This technology has signified the start of a new digital chapter in business operations and the way we approach tasks.
From reshaping the way businesses communicate internally to creating content for their customers to consume, it’s safe to say that AI has transformed our world. But part of what makes this form of technology so complex is that its potential depends on who is operating it—as well as what their intentions are and what line of business they may be in.
To make the most of AI, a decent understanding of how it works and in what areas of business it can be most useful is key.
Thanks to this powerful, self-learning form of technology, businesses of all sizes can expedite the beginning phase of development and kick-start their ventures with heightened efficiency, productivity, and time-saving.
What Can AI Do For My Business Operations?
AI can perform a number of tasks. But its primary capabilities can be separated into three categories:
- Process Automation
- Data Analysis
- Cognitive Engagement
These are all things that humans would ordinarily have to strategize, develop, and implement through elbow grease and manual labor. Both of which can often drain resources, energy levels, and time. However, now that AI can take the wheel on these aspects of business, companies like yours can benefit in so many ways.
Let’s take a closer look at AI’s primary capabilities:
- Process automation: The most common type of AI relates to the automation of digital and physical tasks, mostly those pertaining to office administration and financial activities.
By using robotic process automation technologies, AI can perform various tasks automatically, speeding up processing times and improving document accuracy. Some common task examples include updating customer data or records, reconciling failures, extracting information from multiple document types, and processing legal and contractual documents.
- Data insights and analysis: Some people describe this aspect of AI as “analytics on steroids.” Machine-learning applications facilitated by AI can sort through vast quantities of data within seconds and categorize and secure what’s found in an organized fashion. Data insights and analysis are also capable of predicting customer behavior, identifying credit fraud, targeting customers with personalized ads, analyzing warranty data, and providing more accurate reports on consumer behavior and economic trends.
- Cognitive engagement: Another area that AI is highly proficient in is cognitive engagement. Think chatbots, machine learning, and intelligent agents who can talk to and provide solutions to consumers who need fast, helpful responses online.
Cognitive engagement allows businesses to offer consumers more digital omnipresence and support while interacting with audiences in a consistent and brand-aligned way.
The three of these things combined result in the business version of a Swiss army knife for the corporate world that can make life significantly easier for employees, brands, and the population of consumers they both work to serve. When used cleverly, AI can transform productivity and engagement ratings.
What Areas Of Business Can AI Support?
While it’s useful to understand the main functions and relevance of AI in business, let’s turn our attention to the practical ways that it can support related roles, processes, and professions within the corporate landscape.
One of the biggest business zones in which AI can be most useful is that of content ideation, generation, and development. ChatGPT is a great example.
AI content generation software is capable of creating written and visual content for brands to use on social media, websites, newsletters, and more, making the process of snapping pics or spending hours on copy much simpler and faster. However, it is important to remember that AI is not infallible, and a real person still needs to check all the content it creates.
Billing processes take up a huge amount of company time due to the sheer amount of manual data entry and fact-checking required. But AI can change that.
By performing crucial, albeit mundane, tasks such as data entry, employee payroll, and invoice management, AI can save you time and money. You can ensure all your financial processes are managed efficiently and employees have the documentation they need to file tax returns, reducing strain on accounts and HR departments concurrently.
AI in accounting is also not prone to human error, making it a potentially more reliable option for sensitive financial tasks.
AI has the potential to transform how consumers engage with your business. Leveraging AI for customer service can improve response times, offer consumers more personalized assistance, and lead to more satisfying customer experiences.
Chatbots are the most common example of this. But AI can also improve the customer service process by anticipating their needs, providing detailed consumer analytics, and taking a more active stance on solutions in the face of common consumer problems.
Don’t make the mistake of underestimating how dangerous and detrimental a cyberattack can be for your company. Even small businesses are major targets for hackers. In fact, often more so than big businesses as they’re less likely to have protective measures in place.
Fortunately, AI can help you identify weak spots in your cybersecurity infrastructure, prevent bots from delivering spam emails, and provide insights into your web security status.
In addition to generating content for your online platforms that encourages followers, AI can also schedule content for regular uploads. Plus, it can assist with marketing strategies adapted for different online channels.
The marketing sector is constantly evolving and changing, driving the need for adaptable engagement strategies and optimized campaigns that get tweaked as consumer behavior evolves at a similar pace. AI can highlight current trends and predict future ones, making it a powerful marketing tool.
Get The AI Advantage For Your Business
By integrating AI into your business processes, you can increase productivity, reduce costs, and leverage data analytics for advanced decision-making. You can also empower employees to focus on more creative and strategic ideas while AI does all the tedious work on their behalf.
AI can be used across a wide variety of business processes, including content development, accounting, customer engagement and support, sales and marketing, and even cybersecurity.
High-powered support in these areas can be extremely beneficial for businesses, especially those in the early phases of development who may need the extra support without the budget to hire loads of new employees. If you want to accelerate new business efforts, now is the time to embrace the integration of AI for a more productive and innovative future.