How to Leverage Artificial Intelligence To Grow Your Business

Don't be surprised to know that 83% of companies claim that AI is the top priority in their business. It is no secret today that companies are looking for more and more ways to leverage AI. Whereas, companies not using AI may miss out on major innovations and opportunities. After all, AI today is no longer an alternative but a business necessity. 

Unfortunately, many businesses have not yet realized the importance of Artificial intelligence. 

But not you! Since you're here, you already know the criticality of incorporating AI into your operations. So, keep reading to know how you can leverage artificial intelligence and stay ahead of your competitors to provide more value to users.

Artificial Intelligence for Business

From a future concept to a business core today, Artificial Intelligence has deep penetrating capabilities. Today, AI is incorporated in diverse areas within a business.

From its well-known automation functions to data analysis to contributions to critical decision-making processes, AI is constantly pushing the limits. 

According to a Forbes report, the most common applications of AI in business include customer service, cybersecurity/Fraud management, and Digital personal assistants.

Let's understand how to leverage AI by looking at some of the popular areas that have been greatly revolutionized by leveraging AI-

Customer Service

Given that customers are the lifeblood of an organization, therefore customer service is an unavoidable sector of an organization. Undoubtedly, the deployment of AI in this sector can further enhance customer relationships.

One of the popular ways to use AI in customer service is by installing Chatbots. Available 24/7, Chatbots perform multiple tasks including- resolving customer queries, giving suggestions, and providing feedback. Salesforce Einstein Chatbot is one such AI powered chatbot helping organizatuons to manage their customer services by streamlining operations such as finding relevant informations, summarizing case resolutions, and more.. 

Sentiment Analysis is yet another efficient AI tool that can be installed. The insights provided by this tool, after analyzing customer requirements across multiple platforms, can be used to create customized responses.

Cybersecurity

Seeing increased cases of security threats and cyber crimes with every passing day, it has become a necessity to deploy AI cybersecurity tools in every organization. 

AI-driven tools like Darktrace, cylance should be installed in organizations. They use machine learning algorithms and predictive analytics to protect against cyber attacks. 

Sales And Marketing

For efficient sales and marketing activities, an organization should be omnipresent across all platforms such as social media, and official websites. AI helps in all this, plus it further adds to productivity by providing various additional features.

Top AI sales assistant tools include Clay, Unify, and Attention, these tools identify and prioritize leads, ultimately generating more conversions. 

Cold Email Generator is a free tool from Close; that streamlines the communication process with your customers. It provides AI-generated formal drafts and templates that can be used to easily create emails and helps personalize them according to your company’s description.

Generative AI for sales is another fast-emerging application of AI that has revolutionized sales activities with the introduction of “Sales GPT.” Sales GPT has redefined how sales are done in the modern world.  It helps in sales by providing diverse customer data and searching for the right 

buying group, improving sales forecasts, and much more.

Content Creation

Content is an integral part of any organization. From a company’s description to website pages, all comprise of some or the other type of content. With several AI tools available today, content can be greatly enhanced like never before and the whole task can become hassle-free! 

ChatGpt is one of the leading AI tools for content creation today. It can provide accurate information by scanning through several websites in just a few seconds. Not only does it help in research, but it can also give ideas for a catchy title, thumbnail, social media post, etc. 

Grammarly is another leading AI-powered app. After installation, Grammarly keeps working in the background to help deliver brilliant and error-free content. It gives suggestions for improvements in the writing styles and tones

Canva, accessible from all devices, is an amazing app that can be used to create posters, images, posts, and much more without having to use complicated software, that too in a few minutes. It contains thousands of pre-designed templates, which can be easily customized as per your needs.

Human Resource

Human resources is a huge department and the interference of AI can greatly improve this area. The hiring process can become seamless and the required candidates can be easily shortlisted.

Ready-to-install apps such as Personio, Benify, and Clara Labs optimize the repetitive tasks of finding candidates with required skills and scheduling HR communications. Beamery, and Eightfold AI are some more apps that help ease out the hiring process by filtering candidates. 

Accounting activities

AI has immense capabilities to revolutionize the accounts and finance activities in a business by helping in various activities like-

• Account receivable and account payable- AI extracts data from multiple sources like invoices, auto-verify them, and then processes the payment or receipt of the amounts.
• Identify security threats- AI tools monitor the payment across devices; and if any threat is identified, necessary precautions are taken to prevent any future attacks.
• Data Entry- AI automates the task of data entry; by collecting data from multiple sources.

IT Sector

Being the core building block of an organization, the IT department needs to remain up-to-date. And to provide customers with the latest services, the IT department should be aligned with the latest AI innovations. Let's look at some popular AI applications in this field-

Today, many companies are making use of RPA in their operations. Installing  “RPA”   (Robotic process automation) within your systems automates various routine tasks, thus freeing up the time of IT professionals. They

Naniprecise is an AI-enabled application installed on the system that keeps a check of updates and various applications, thus reducing the potential downtime before any failure occurs.

Polymer and Coefficient are a few of the many advanced AI tools that have been developed to ease the analysis of data by converting dynamic and complicated data into easy-to-understand data, thereby providing more relevant insights in a shorter period.

How AI Is Benefitting Business

Therefore, there is no need for an explanation of how artificial intelligence is reshaping the business landscape. 

Let’s jump to some facts and statistics to make this more crystal clear as to how companies are using-

• The growth of AI has accelerated by a whopping 14-fold since 2000, and we bet this figure will increase even more in the future. (Source- iSpectra)
• 77% of the companies are either using AI or exploring the benefits of using AI for their business. (Source- nu.edu)
• 52% of experts believe that AI automation tools will replace many manual tasks, leading to 40% cost savings. However, this will ultimately lead to job losses in the coming years.
• As per Forbes, AI alone can lead to an increase in productivity by 40%.

Conclusion

As a final take, today, AI's capabilities are limitless and are growing with each passing day. There is probably not an area in a business where AI has not left its tremendous impact. Whether you are a startup or a Fortune 500 company, AI can revolutionize all. 

Therefore, leveraging AI in your business operations can prove to be an absolute game changer for you! 

If you are among those who think of AI as a future concept, then this is your sign not to! Your competitors are already taking full advantage of AI in their daily operations. So start deploying AI into your business as well!