This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
How small businesses can benefit from AI now
Artificial Intelligence (AI) and Machine Learning (ML) go hand-in-hand when organization make use of solutions which are data driven and integrated with ML platform. It is said that AI will be a game changer for all industries by providing smart applications and efficiency in business process through optimal use of organizations data.
This is a user generated content for MyStory, a YourStory initiative to enable its community to contribute and have their voices heard. The views and writings here reflect that of the author and not of YourStory.
1. Intelligent CRM systems
CRM systems collect information about customers and their behavior in the market regarding a certain product or a service. When AI is integrated with a CRM system, it can crunch the numbers and provide data which is directly related to customer’s choices and activity patterns.
For marketing and lead generation purposes, this platform can effectively provide information like customer preferences, customer reviews, and customer feedback so that the company can successfully pinpoint which market they want to enter and what the customers of that particular location want through effectively process the available data. This solution can be very beneficial for small businesses so that they can channel their efforts in the right direction.
2. Efficient customer service
After sales support is an important factor when a company has offered a certain service to a customer with the promise to serve whenever he/she faces an issue with the particular service. Support is essential to retain a customer because when they are really in a need of support, only then a company’s expertise and loyalty is tested if they can solve the customer’s issue or not. Through AI enabled support services, a customer can be easily provided support through unique solutions. Support agents fail to provide unique solutions to a customer’s problem because they continuously have to manage multiple queries and cannot come up with special support for every query they receive and so AI can provide top most support to the customers in minimal time by saving cost’s for small businesses for hiring support agents
3. AI-based competitive analysis
For any business it is a crucial step to identify the competitors in their field so that they can analyze what kind of service do they offer and what kind of customers do they serve. Competitor analysis is a basic function of any business and it should be taken seriously because it provides insights into the competitor’s activities. AI based competitor analysis will search for all the competitors and will provide information about their activity on all channels. The data collected during analysis will give a clear idea about the competitor’s strategy. Small businesses can have a huge advantage when they have studied the current trends in the market and improve themselves accordingly.
4. AI-based solutions
Now-a-days every element of a business can be AI driven due to the fact that AI can be implemented in each and every business process. Whichever department generates data is eligible for AI based solution like Lead generation, AI based marketing, AI based branding and many other areas. These solutions improve any department’s efficiency by providing insights into data by revealing new patterns and strategies which can be adopted to react to new trends in the market by staying competitive.
Conclusion
Artificial Intelligence is a growing technology and not everyone has mastered it but there is a scope for every type of business to make use of this technology for upgrading themselves. Small businesses can profit from AI and ML if they implement it in their business because they can have a competitive edge over their competitors in terms of new advancements, creating new opportunities and growing their own business.