Today’s successful businesses know it’s essential to use every tool at their disposal. Technology continues to revolutionize multiple industries. I have found that embracing new technology, instead of avoiding it, can put you ahead your competitors and fuel business success. A branch of innovative technology, artificial intelligence (AI), has a wide range of uses to boost your business.
Once, AI only existed in the realm of science fiction novels. But the past 20 years has seen AI become much more mainstream and accessible. Using AI to your advantage can improve sales performance, reimagine and innovate your business processes, and heighten quality assurance.
Improve Sales and Marketing
Incorporating AI analytics is becoming increasingly popular among CRM solutions. Sales teams are now enabled to automatically generate valuable information. With AI’s help, salespeople can predict which customers are most likely to generate more revenue and those who are more likely to take their business elsewhere. With this intelligence, sales can focus their time and energy where it matters most and not waste it on customers who won’t bring in business. Chatbots, an AI-driven communication tool, have also helped businesses boost their sales, appeal to a wider customer base, and increase revenue.
Innovative Product Development
When it comes to product development, AI can augment the creative process through generative design. Generative design is software that businesses can use to input design goals and other requirements. The software then explores all the strategies that could fulfill those specifications and generates multiple possibilities from one idea. With this software, product development is faster, more efficient, and boosts productivity. It saves a business time and money by skipping prototypes that won’t deliver.
Minimizing Human Error
In my experience, even the most successful businesses make mistakes, mistakes which could easily ruin a business’s reputation or impact their bottom line. AI can be used to minimize inevitable human error. Unlike employees, AI technology doesn’t get “distracted by physical or emotional situations [that could cause] irreparable damage,” according to
Harry Kabadaian, an entrepreneur leadership network writer. AI enables quality management by executing tasks that adhere to its programmed logic—every single time. AI technology minimizes human-caused inaccuracies and facilitates business success.
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https://www.entrepreneur.com/article/317937, accessed January 2021