The concept of AI (artificial intelligence) has been around for sometime now and certain governments and giant enterprises have been experimenting with this technology for quite a while and the results have led to all kinds of solutions that make the world smarter and more efficient. However the same cannot be said about the smaller business sectors. Ignoring the AI trend is simply not an option for either new or veteran entrepreneurs. What’s more, the skeptical mindset and overall resistance many of them have long had about and to new technology need to be left behind.
Here are mindsets an entrepreneur needs to have about AI in order to improve their day-to-day operations.
AI can be used to provide granular customer service insights.
Customer Service is one of the most recent uses of AI. Additionally, it is an areas with one of the most pessimistic point of view about the technology. The naysayers say that customer service is purely a human-to-human entity, and should stay that way. Now, if you firmly stand behind this ideology, more power to you. However, it’s important to at least be knowledgeable of how AI can be used in this field.
Replacing humans entirely in customer service is a long shot. But, approaching this function with the mindset that AI bots could handle common inquiries to your business might do wonders for you in terms of speedier assistance and the freeing-up of your customer service reps’ time to tackle more important issues. AI can be used to provide instantaneous customer service 24/7 which can help improve the accuracy of your customer service.
AI can be used to refine employee performance.
Using AI to improve customer service is all well and good however a good entrepreneur always remembers that providing a stellar customer experience starts on the inside. So, if your employees aren’t able to do their jobs effectively, it will inevitably effect the end result. According to a study from Stanford Graduate School of Business finds that businesses that successfully apply AI could potentially increase productivity and profitability by nearly 40 percent over the next two decades. Adopting the mindset that AI is a powerful tool to refine employee performance is one of the best things you can do for long-term growth.
Using AI can eliminate tedious,time-consuming tasks.
One of the biggest and most common fear employees is that the AI will take over a huge number of human-operated jobs, now while this maybe potentially possible. AI can also be a lifesaver for newer entrepreneurs looking to get their startups off the ground. AI can automate many of the day-to-day tasks that in previous decades required the entrepreneur to either increase his or her overhead by hiring an employee on a shoestring budget or work endless hours. AI can eliminate a great deal of the legwork involved in building a social presence — something that is indispensable these days.
Another crucial use for AI In today’s business landscape is sales-forecasting. Many of these tools draw on a wide range of data sets to predict spikes in demand, to spot patterns that could potentially lead to drops and to create a reliable pipeline. Sales-forecasting and social media monitoring are just two of the cumbersome tasks AI can streamline. Plain and simple: If you want to “future-proof” your company, you need to look for ways to automate the grunt work. This is a mindset that many of the big companies like Amazon in particular have fully embraced.
From a general perspective, though, you need to view AI as part of your business that is a constant work in progress.The successes and failures of yesterday need to have a strong influence over what you do today and tomorrow. In a nutshell, the future is what AI is all about.