How You Can Use AI in Your Business

Artificial Intelligence (AI) is no longer just the thing of large enterprises. Over the years, it has become more accessible to small and medium-sized businesses. With automation taking on every industry, AI systems can make work easier while saving a lot of money.

The price drop in AI technologies paved the way for SMBs to gain access. If you’re new to AI, here are some ideas on how you can integrate it into your business.

Automate your marketing

Using AI-based software, you can set up your marketing efforts on autopilot. This includes using chatbots to increase customer response. This will boost customer satisfaction, which will positively impact your sales and brand image.

AI is also capable of machine learning. This means you can gauge customer preferences, risk range, competitor performance, and more. You can use all of this information to improve your marketing efforts and to widen your target market.

Integrate it with your inventory management

Many AI-based applications can now manage some aspects of your inventory. The machine learning algorithms of the application can initiate requests for supplies or let you know where more supplies are needed.

It can also automate the order placements of customers. Aside from improving customer experience, you’re also saving money while enjoying an efficient operation. It’s a win-win scenario for your business and your customers.

Some AI applications can even predict supply chain movements. This will help you come up with informed decisions about your inventory.

Fight fraud with AI

Small and medium-sized businesses can now boost their defense against fraud by using AI-based applications. This technology can detect fraudulent transactions, which will primarily benefit the company’s revenue.

Since AI applications can detect patterns, your firewall gets stronger over the years. Also, machine learning can help reduce false alarms, ensuring that the fraud-preventing efforts are accurate.

AI-based applications that fight fraud are now getting more affordable. Even small businesses can afford to have one.

Use virtual office assistants

Chatbots have been a growing trend among SMBs. This improves the customer experience at a low cost but in a very accurate manner. Virtual office assistants help small businesses manage their tasks without the need to hire additional manpower.

Since this will ease the burden of performing time-consuming tasks, business owners can channel their resources into other aspects of their operation.

AI executive assistants can work 24/7 with minimal monitoring. It can also help with scheduling, which is a big help for busy businesses.

Filter applicants using AI

If you’re hiring new employees, you can use AI applications to save time. You can set up interview questions and the applicant can send a video interview. The AI application will analyze the audio content and facial cues to evaluate the candidate.

This is ideal to use for entry-level positions that will not impact your operations easily. In fact, companies like Unilever, Dunkin Donuts, and IBM have used AI-based hiring for their entry-level candidates.

Conclusion

AI technology is booming and it’s here to stay. If you want your business to keep up, it’s time that you incorporate the technology to your operation.