Whether you’re running a small niche business or you’re pioneering a larger corporation, artificial intelligence is wading in and making life easy. It works to boost efficiency and improve customer experiences, and is so important to recognise how AI could be transforming your industry, rather than how it can be hindering it. Having AI as an influence in your business doesn’t mean that you lose the human aspect.
In fact, what it means is that with the collaboration of artificial intelligence and human opinion and personality, you get a business that is multifaceted. ESCP’s AI initiatives, for example, are changing things for the better, so jumping aboard the AI train should be your next priority. Let’s take a look at how AI is transforming industries and shaping businesses.
1. It’s getting smarter with AI-powered chatbots. Businesses want to reach customers at all times of the day and night, and having a chat facility is important. You may not want to hire people to chat around the clock, but preloading artificial intelligence with answers to common questions is a great way to have it. Customer service from humans will never be fully replaced by AI, but it can certainly aid in efficiency and how effective the inquiries are handled. Businesses will likely rely on AI to answer the more common questions and assist with minor transactions before being passed to a human.
2. It helps you to market smarter and not harder. Marketing is all about reaching the right people at the right time, and artificial intelligence is making that as easy as possible. With the advances in data analysis, AI can help businesses to personalise their marketing efforts and even adjust pricing based on demand.
3. Your hiring and workforce planning is easier. Finding and keeping the best people is not the easiest thing to do as a business leader, but you can bet that with the help of artificial intelligence and AI powered recruitment tools, you’ll find it to be a lot easier in future. Analysing interview responses, predicting which candidates are going to be the best fit for your team, and screening resumes are all things that AI powered tools can do. You will still need people on board to cast an eye over these CVs and speak to these potential candidates, but AI can help you to sift through the mud.
4. Cyber security will be strengthened. Cyber threats are always on the rise because the better we do with security, the more sophisticated they get. Keeping business data safe is more important than ever and AI driven security systems can help to detect threats in real time. This safeguards your business and in this particular arena, this is where you want AI to step in.
5. Supply chains become more efficient. If your business relies on logistics and inventory management, then you’re going to find artificial intelligence a game changer. These tools can help predict your demand and streamline inventory. Delivery routes can also be optimized, and costs and waste can be reduced.
