When you think of artificial intelligence, maybe the first thing that comes to mind is some nightmare movie scenario where AI ends up controlling the entire world. In reality, though, using AI can give you more control. AI is already being used in many practical business applications and can save your company a lot of time and money. Here are six ways that AI software can help your business.
1. Automating Everyday Tasks
No matter what type of business you run, an AI can save your company so much time by automating a portion of your day-to-day tasks. For example, it can handle making bookings and appointments, run robotic machinery, control heating, and air conditioning systems, monitor security surveillance, and so on. AI software can easily accomplish hundreds of little everyday tasks that add up to a lot of extra employee hours.
2. Customer Service
More and more companies are using AI chatbots on their websites to answer simple customer inquiries. That can help to take the load off busy customer service reps, making better use of their valuable time, as well as reducing the amount of time that customers have to wait in the queue for an answer.
3. Detecting Fraud
Many businesses lose a great deal of money every year to fraudulent activity. Poring over transactions one by one to check for fraud can take a lot of extra time that you could be spending on other business activities. By using an AI to track each of your business's transactions, you can more easily prevent and detect fraudulent activity and avoid lost revenue.
4. Marketing Insight
Tracking marketing trends can be a very time-consuming job, costing businesses thousands of extra dollars. AI software however, can do this job much faster than a human, and at a much lower cost. It can automatically analyze emerging trends in your market, alerting you to any changes you need to make to stay up to date with ever-changing consumers so that you can be one step ahead of your competition.
5. Analyzing Data
Analyzing business data is a colossal task; you're continually detecting and correcting errors, deciding what to keep, what to delete, what's of most importance, and what is irrelevant. An AI can analyze your business's data quickly and efficiently, reducing the headaches and potential mistakes that come with complicated data analysis.
6. Information Databases
Rather than having to pay someone to enter information into a database manually, an AI can update your information on auto-pilot each time any new information gets added to your network. It can update the data simultaneously on every computer linked to your business's network, so that all of your employees have access to the information they need precisely when they need it, without any wait time. These real-time updates are also handy if you employ remote workers since they can access information anytime, day or night, no matter what shift they work.
There is no need to fear AI. It's your friend, and it can help to make your business a lot more productive.