AI is the buzzword of the moment. All the world’s biggest companies are trying to incorporate AI into their business models. But just how can smaller companies benefit from AI? This post takes a look into the potential benefits of AI for your business.
What exactly is AI?
AI stands for ‘artificial intelligence’. It is any type of software that can track data and learn from it – usually in order to perform automated tasks.
Netflix’s recommended TV shows are a basic example of AI. Netflix tracks what you are watching, compares this data to people watching the same films/series and then recommends films/series based on what these other users are watching.
AI is one of several technologies that is believed will shape the future.
What are some current different uses for AI in business?
AI has so many different applications in business. A few examples include:
- Tracking sales data and automatically creating future sales forecasts
- Creating rotas, tracking employee hours and automatically paying staff
- Writing emails, press releases and even blog content
- Categorizing emails and even automatically replying to them based on keywords
- Creating website pages and personalized welcome messages and recommended products
- Setting up automated chat boxes on websites
Is AI expensive to implement?
Many current AI-based programs are very affordable. Some are even free such as the likes of ChatGPT. As a result, AI is something that all businesses can try out.
Of course, if you want to make your own software that incorporates AI, you will need to spend a lot more. This type of software needs to be programmed from scratch and AI is not always easy to write code for. That said, many basic AI features can be easily integrated into software. This could be useful when building exciting customer apps or employee software that is able to create shortcuts for employees.
How will AI benefit my business in the future?
AI is rapidly evolving. One day in the future, business owners may be able to carry out all kinds of elaborate tasks that could allow businesses to effectively run by themselves.
If you want to get ahead of the curve, it could be worth keeping abreast of news on AI technologies by reading articles and watching videos. You can also find speakers willing to talk on the topic of AI at sites like Executive Speakers.
While AI will come with many benefits, it will also come with many drawbacks – including new security risks and potential loss of jobs through automation. It is important that companies understand these drawbacks too before using AI.
Conclusion
AI can benefit businesses in many ways and is already being commonly used by companies around the world. It does not cost a lot to get involved in AI, unless you are making your own custom AI program. AI will evolve in the future – so it is important to keep up with AI news so that you can adapt when necessary.
