How AI Can Benefit Businesses Big and Small

In the world of technology, the main buzzword right now is without a doubt AI, or artificial intelligence. This refers to complex computer programs capable of performing advanced tasks that normally require human intelligence. These programs can understand language to a degree, interpret vast amounts of data and even offer suggestions and advice.

Some people even use AI to make predictions about what could happen in the future. For example, a business might use it to get an idea of what changes in the market there will be. Someone who’s into esports betting might use AI to crunch large amounts of data and make an educated guess of who’s going to win a tournament. Though AI is not without controversy and should have its accuracy checked, it has a wide range of potential benefits for businesses big and small.

Automation

Businesses, especially smaller ones, typically have lots of rather basic tasks that need to be dealt with. They’re straightforward and routine, plus they can take up a lot of time. Having said that, they’re vital for a business’ survival and growth, which is why people dedicate the necessary amount of time to them.

An AI program can deal with routine tasks much more efficiently than a human worker can. Tasks such as data entry, data analysis, note-taking during meetings, content generation and even communications, can all be performed more quickly (and more effectively in some cases) by AI. When a computer program can do things like this for a business, staff have more time to concentrate on more important matters that can help the business grow further.

Analytics

With any business comes a heap of data and as time passes, the amount of data keeps on growing. The key to succeeding in business is knowing how to interpret data and learn from it. This is something that not every owner manages to do. Sometimes they struggle to see patterns or identify areas for improvement; sometimes they pin their hopes in a small subset of data instead of looking at the bigger picture.

This is where AI comes in. One of the main functions of AI programs is sifting through large amounts of data and drawing conclusions from it in no time at all. They can carry out detailed analyses of things like customer behaviour, purchasing trends and the efficiency of advertising campaigns. An AI program might be able to detect things that a human eye misses.

Communications

A large number of websites have some sort of chat feature that lets you type in queries and get a response. It used to be the case that every chat feature had a real person on the other end typing responses to people’s questions. These days, there’s a good chance that the reply is automated by an AI program that’s been trained on how to respond to people’s questions.

Many businesses appreciate how helpful AI can be, but they still want customers to be able to deal with real people. What they do is they allow an AI-powered chat feature to deal with basic enquiries. If a customer has a more pressing or serious issue, they can opt to message an actual member of staff instead. AI is sometimes so well trained at communications that people fail to tell the messages they’re receiving are coming from a computer program.

Recruitment

The process of hiring even just a single employee can be time-consuming for any type of business. AI can reduce the amount of time people have to invest in recruitment and it can make the process of finding new staff much more efficient.

With an AI program, a business can carry out a range of recruitment tasks in practically no time at all. These include, but are not limited to, writing job descriptions, simplifying the onboarding process for new employees, analysing CVs to determine who the best candidates are and assisting with a new employee’s training and development. 

Operations

Logistics is important for businesses because if it’s managed well, it can help a business thrive. If it’s managed poorly, it can end up becoming more of a hindrance than anything. Mastering operations is especially important for larger businesses with a complex network that allows them to get their products to their customers. Smaller businesses might not need efficient logistics as such, but it’s still important for them to operate efficiently, especially if they want to grow.

AI programs are capable of analysing a business’s operations and highlighting areas where changes can be made for the better. They can carry out tasks such as allocating drivers, coming up with schedules, dealing with last-minute problems, managing inventory and deciding how much stock to order.

Remember That AI Isn’t a Perfect Solution

There’s no doubt that AI has the potential to help businesses of any size in many different ways. The areas we’ve looked at are just a few ways in which AI programs can be used to improve a business and help its future growth.

It’s worth bearing in mind that AI isn’t perfect, just as no human worker is perfect. The work that AI programs produce can be excellent, but there can sometimes be inaccuracies, a lack of creativity and even bias. This is why when using AI for any business-related aspect, you should check whatever the program produces before relying on it. In other words, don’t just blindly follow what AI tells you; take what AI gives you as advice and remember that you don’t have to do everything it says.