Boost Productivity and Save Money with Artificial Intelligence in Your Business Strategy
Several decades ago, the term “Artificial Intelligence” conjured up robotic images seen only in science fiction movies. Some say the concept of an artificially intelligent robot was introduced as the “heartless” Tin Man in The Wizard of Oz and continued to the highly advanced HAL 9000 in 2001: A Space Odyssey. In more recent times, of course, the Terminator series of movies tell the tale of Skynet, a network of supercomputers that utilized artificial intelligence (AI) to take over Earth.
Fast forward to more recent times and AI has become commonplace in the business world. In fact, AI is one of the fastest-growing data-driven technologies being used on a global scale by both large organizations and small businesses.
Why has this once futuristic idea become so popular? Because it can increase business productivity by 40 percent, according to a study by techjury.
Robots and Chatbots and Roombas…OH My!
Artificial intelligence is no longer just the stuff science fiction movies are made of. AI has become a reality, and it’s everywhere. You’re already using AI whether you know it or not.
That fancy little gadget used to vacuum your house uses artificial intelligence to scan room size, identify obstacles and remember the most efficient routes for cleaning.
Artificial intelligence has significantly impacted the healthcare industry and has become instrumental in everything from robot-assisted surgeries to protecting patient records against cybercriminals.
Your special playlist that keeps you going throughout an intense workout? Yep, artificial intelligence helped create that jam based on your favorite musical interests.
“If there’s one type of AI that businesses see as a game-changer, it’s chatbots,” states Forbes Agency Council member Jason Hall. “For some businesses, there aren’t enough employees or hours in the day to answer customer queries quickly. Chatbots allow customers to help themselves by answering frequently asked questions.”
Visit MarketingDirection.com (if you haven’t already) and you’ll see a helpful chatbot. The service is offered through our CRM system Pipedrive for a nominal fee. Chatbots are handy little virtual assistants. However, they should also allow a prospect to easily speak with a live team member should they encounter a problem.
AI Saves Time & Money
At Marketing Direction, we use AI to streamline the sales process and it has been a huge timesaver for us. Our strategy focuses primarily on LinkedIn which offers an AI component that “knows” when a potential prospect is interested in our services based on certain keywords in their messaging.
When we first started using LinkedIn automation, I was bombarded with messages, and it was nearly impossible to sift through the ones that truly needed my attention. We weren’t in a position to hire additional staff at the time, so we incorporated AI instead, which did make financial sense. Now, we can manage more prospects with less time involved and stay better organized.
A note of caution here. Remember, nothing can replace the human touch. We had an instance early on in which AI tagged a prospect who was interested in our services as “uninterested.” They turned out to be one of our biggest clients. So be sure to check that the system is providing you with valid information. “Trust but verify” is a great rule of thumb.
“AI marketing is a method of leveraging technology to improve the customer journey,” Hall says. “It can also be used to boost the return on investment (ROI) of marketing campaigns. Whether you’re engaging in email marketing, providing customer support or choosing when and where to place ads, AI eliminates much of the guesswork involved in customer interactions.”
AI-powered tools have now become widely available to small and mid-sized companies as well. According to statistics compiled by Oberlo, the number of businesses adopting artificial intelligence grew by 270 percent in 4 years. Check out these stats:
- 54 percent of business executives reported a boost in productivity after having implemented AI within the workplace
- nearly one in four sales teams currently use artificial intelligence in their day-to-day work
- 44 percent of organizations have reported cost savings as a result of AI implementation
Ready to Get Real with AI?
If you’re looking to expand your bandwidth at a low cost, it’s definitely worth your while to explore AI. Finding the right solution, however, can be overwhelming as there are many applications from which to choose.
Determine your company’s needs first and determine how you would incorporate AI into your workplace. Are you looking for a product like a virtual assistant on your website, or an efficient way to analyze data, or automate your email campaigns with greater efficiency?
While your organization may have several potential uses for AI, it’s best to incorporate only one platform at a time to ensure they are functioning correctly and doing what you want them to do. Also, be sure you assign a team member to monitor responses regularly should a situation arise that requires the immediate attention of a live person. After all, there is still no substitute for the human touch of empathy and understanding.
