Business operations are constantly under pressure to be more efficient, more cost effective and drive more sales. Artificial Intelligence (AI) has the power to meet these goals for businesses, creating more streamlined operations that maximise resources and profits. From VR to making recruitment processes easier, we’ll take a look at some ways businesses stand to benefit from AI.
AI will make business marketing smarter
Businesses spend a lot of time maintaining their CRM systems to maximise their reach. This takes time, effort and effectively, money. Plus it’s really boring. But AI has the power to make this much easier for a business, essentially creating a self-updating system of quality leads to target and nurture. AI also has the capacity to auto-analyse your business prospects and leads, giving you the tools to maximise campaigns which target specific segments of your customer funnels, generating better ROI. One other huge benefit of AI is being able to create specifically personalised and tailored communications for every customer, automatically. AI will essentially create an individual marketing campaign for each customer- tailored and personalised based on their interactions. And that’s pretty exciting for marketers.
Business real estate demands will change
One of the biggest outlays for a business is it’s real estate footprint. AI will transform this for many businesses, effectively reducing the amount of space needed for their operations. Virtual reality will make it much more common and easy for employees to work from home, convening in virtual meeting rooms instead. Buildings will become much smarter as the combination of WiFi and AI will allow businesses to automatically monitor light, heat and water usage; providing useful data on how employees interact with the workplace space. This will not only make operations more efficient, but it will allow future workspaces to be designed dynamically to reflect any changes monitored.
AI will drive lasting customer loyalty. Automatically.
Every business knows loyal customers are the profitable ones. AI will make creating lasting customer loyalty much easier- increasing engagement and ultimately, profit. Text analysis and biometrics will work together to carry out a real-time sentiment analysis, effectively providing business with immediate feedback on customer opinion and interactions. This is important because customers need to feel valued, and understanding them intrinsically with AI will generate genuine customer loyalty with longevity.
AI will make it easier for recruiters to find the best fit
Businesses invest a lot of time in recruitment. Getting it right is important- business operational costs are increased if there’s a high churn rate in roles, leading to reduced productivity for a business. This is where AI will step in. It recently hit the news about recruiters using face analysis pre-interview to select candidates, but recruiters can benefit from AI in other ways too. As well as automatically selecting the best candidates for a role based on qualifications and experience, AI will also be able to predict how long a worker is likely to stay in a role based on business-fit. This has powerful implications for cost-effective business operations.
Businesses will be able to track their competition effectively
Every business needs to keep an eye on the competition and AI will give businesses the ability to competitor performance. Using AI powered analytics software will give a business these insights much more accurately and easily, allowing them to track competitor activity across multiple channels and platforms. This allows a business to not only keep ahead, but also support plans to scale-up, identify trends and meet customer demand, so it’s pretty important.
To wrap up
AI for businesses isn’t just about reducing costs due to smarter building use or more effective recruitment (although they’re majorly beneficial for business operations), it’s also about giving businesses the tools to futureproof with continued relevance. Using AI to predict marketing trends, respond to customers in real-time and track competition will not only make your operations more efficient- they’ll be more profitable too.
Guestpost by Hannah Hambleton, Content Manager for Beambox
Main image credits: PopTika/Shutterstock
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