The technological advancements are going to remove the need of humans in some parts of the business. Artificial Intelligence is rapidly making its place in the industry and will evolve in the coming few years. Many industries have already integrated this technology to make better and smart decisions. Industries such as Healthcare, automobile, education, and e-commerce have already started using this technology in order to improve the whole process so that they can maintain better customer relationships.
Data is the new asset of businesses nowadays, used by businesses to grow their small-sized businesses by analyzing the data ad interpreting some meaningful data. Many businesses have invested in Artificial Intelligence and Machine Learning to improve the working and to boost sales and speed up administrative work. Startups need to use these technologies to survive the cut-throat competition in the market.
How Artificial Intelligence can help Small business to grow in 2020
Check out these 8 ways Artificial Intelligence can help small businesses grow in 2020.
1. Smarter tech to make informed decisions
Artificial Intelligence is using to interpret and analyze large sets of data for businesses to make smarter and informed decisions. By analyzing the data of its customer’s businesses, it can provide a personalized experience to its users and can also run ads that target its audience.
Using this technology, businesses have a chance to improve and create a loyal customer base.
Companies will continue to use these technologies to get profitable insights for their business. Artificial Intelligence offers an automated decision-making power for the expansion of the business.
2. Continued focus on mobile
Artificial intelligence will directly embed into mobile devices hardware as some chip in the coming few years. The mobile app will greatly benefit if AI will embed in smartphones as it will bring some new opportunities for businesses. And it will open more new options to generate sales and definitely a return on investment can be expected.
Businesses also need to hire the right mobile app developer who has the knowledge of artificial intelligence and how to use that while building your mobile app. So businesses should be careful while hiring a mobile app developer and it is best to take an interview or have a detailed discussion before hiring.
3. Lead Generation
Lead generation is the process of identifying leads that can be converted into prospective customers. Nowadays there are AI-based systems that can target people on social media. They can analyze their data through the information collected from social media accounts in order to understand their interest and their buying pattern so that the business can target him/her and can convert them into a prospective customer for the business.
4. Better customer relations
Artificial Intelligence is all set to change the customer support process in the coming few years. The feature of Chatbots has introduced by many companies to provide better customer support to its users. The need to have an extra team for customer support has vanished. The chatbots have proven to provide better customer support and quick answers to the queries of users.
If the company maintains a good relationship with its users then definitely the users will recommend others to use that product or service and this is indirectly a way of marketing your brand.
5. Make backend organizations more efficient
Startups and small-sized firms can use Artificial Intelligence to automate some time-consuming tasks to get the work done efficiently. Employees are happy to welcome the technology because they will now be free from boring tasks of accounting and scheduling and will do something more productive and meaningful.
6. Hire smarter with AI
AI helps businesses hire the right talent for your business. Using algorithms it will find out in the past what were the useful practices use to hire employees and how we reached out to them. Startups don’t have a big HR department where they can find the perfect employee for every role. AI applications can give the details of the prospective employee to the recruiters so that they don’t have to find the person fit for any particular post.
7. AI-driven marketing platform
AI-based advertising platforms can use to target large audiences. Businesses should use AI-enabled advertising platforms to target specific customers who are likely to interest in your business. This software can collect user’s data from different websites and can analyze how to target them without taking any help from marketing personnel.
8. Speed up administrative tasks
Businesses are using Artificial Intelligence to perform tasks that require much effort and time like scheduling and calculating. The human effort could be used in some other productive tasks so that Businesses can use virtual assistants to get their work done.
Artificial Intelligence will continue to build its space in the industry and will be adopted by more industries in 2020. Better decisions need and made by businesses streamlining artificial intelligence. Startups should start using this technology to utilize the most out of it and to stand in the competition. Artificial Intelligence is not here to eat up the jobs. It is here to make other processes smoother and improve working to help businesses work smarter and efficiently. The technology will continue to grow in the coming years and will definitely impact the working of small businesses.