Many of us like to be cynical about the impending development of a smarter artificial intelligence. It might even be creepy for some. But it’s always been that way with the unknown. We fear things that we lack knowledge about.
So far, there hasn’t been any seriously dangerous implications of this technology. In fact, it’s actually been doing really well for most big companies like Amazon and Apple. But don’t think it’s just the big names that are benefitting from this. Small and medium-sized businesses are too! And it’s not just to jump on the AI bandwagon. There are many things about AI that allow entrepreneurs to do their businesses better. Here are the ways.
1. Optimal Performance
AI is an intelligent system that can sift through millions of data faster than any human being could. What would take hours for many employees to do,AI can perform in a matter of minutes. That’s impressive. And the best part, there is little risk of errors. This means that your organization can run efficiently and you are able to delegate tasks to your human employees –tasks that require more human attention.
2. Bigger Picture Thinking
Speaking of the human touch, despite how powerful AI technology can be, nothing can replace the human mind. There are certain complex ideas that only a live person can discriminate with accuracy that a machine can’t. For example, AI cannot detect body language while humans can. They cannot make intelligent business decisions based on your company’s ethos.
As an entrepreneur, it’s important that you’re able to recognize what a machine can and cannot do. That way, you can delegate the menial tasks to it and leave big picture stuff to real human minds. This is actually good because the human brain was designed for higher thought, not soul-deadening tasks.
3. Better Job Opportunities
AI isn’t stealing people’s jobs. It’s creating better job opportunities. The industry itself already carries great potential for programmers, neuroscientists, and technicians. But beyond that, it opens opportunities for people who want to do more than just punch the same key several times each day. Like what we mentioned above, people are encouraged to become visionaries rather than just cogs in a machine.
A natural outcome of higher thinking for your business is personalization. We all know customers like an experience that’s tailored to their needs. It’s the little things such as using their name in your email newsletters or welcoming them back your website after their last purchase a few weeks ago.
AI lets you refine these little touches so you can customize the user experience in every step. As a business owner, it’s up to you which aspects you’d like personalized. There’s a thin line between “really nice” and “creepy” when it comes to personalization. Customers like the treat of an AI chatbot that replies in an instant but you don’t want to get too close for comfort either.
Use the efficiency provided by an AI as an opportunity to discern what data points are worth collecting and apply that in your personalization strategy.
5. AI Supports Sustainability
AI could not have come at a better time when our planet is at a growing risk of being destroyed. How does AI help with sustainability, you say? For one, it helps organizations run at an optimal level. This impacts all aspects including inventory stocking. It can predict customer trends and prevent business owners from producing too much of the same product when there’s really no demand for it. By knowing exactly what customers want with the help of AI, you can create products and services that meets your customers’ needs.
Do you already have AI in your business? How has it impacted your organization? Share your thoughts in the comments.