Artificial Intelligence (AI) Benefits for Your Business
By Intrigue
Artificial Intelligence (AI) plays an important role in helping to make your business more efficient, resilient, and profitable.
There are substantial benefits that AI can bring to your business, here are few compelling reasons to begin incorporating AI:
Incorporating AI Into Your Business
Technology is developing very quickly, and if AI is going to become a part of our everyday lives, then businesses need to take this into consideration.
When starting to incorporate AI, your business should be:
- Prepared to make mistakes in order to improve processes
- Have metrics in place for automation targets
- Consider new metrics as processes are implemented
- Focus on learning about and investing in technology
- Review the impact that automation is having on their business
How AI Can Benefit Your Business
1. AI Attracts Top Talent
Millennials are now the largest generation in the workforce and they expect the digitization of processes so that they can focus on what they do best, not menial tasks. If you don’t invest in technology, then you run the risk of missing out on the opportunity to hire top talent and watch your organization grow. Start thinking about technology today for a workplace of tomorrow.
According to ThoughtCo (2017), “When most boomers were in their teens, there were six Canadians like them, under the age of 20, for every person over 65. Today there are about three young people for every senior.”
Business owners need to be aware of these demographic changes to ensure that they remain competitive and continue to grow their organization with fewer individuals in the marketplace.
2. AI Increases Productivity
“The impact of AI technologies on business is projected to increase labor productivity by up to 40% and enable people to make more efficient use of their time. (Source: Accenture)”
Emails, administrative tasks, and meetings are keeping workers from their primary job duties. As business owners, your team’s productivity is essential to ensuring profitability.
AI provides you with the ability to automate a number of processes including, scheduling meetings, managing day-to-day communications, tracking competitors, data analysis, and more — so you can save your team hundreds of hours of time.
3. AI Generates Business
Marketing automation can be set up to increase incoming leads by running in the background with minimal human capital.
For example, email automation will allow for trigger-based emails to be sent to existing customers, prospective leads, and potential leads who have not taken any action. Once your team sets up these emails, they will run automatically to generate leads and send notifications to you and your sales team.
At Intrigue, we have had success using automation to generate business for a number of our clients.
Example: Our client, The Ostic Group, has ‘Request a Quote’ and ‘Contact Us’ forms on their website. We integrated their MailChimp account with the forms on their website so that every time someone new contacts Ostic, they will receive a series of six emails over the course of six months with value-add information. This helps to keep Ostic top-of-mind for the consumer and offers them regular options to connect.
Aside from checking to see the statistics of the campaign, this system is running in the background with minimal maintenance and has helped to generate leads and business.
4. AI Helps Improves Customer Service
Customer service can be tedious, repetitive, and heavily administrative. AI tools that answer questions online, forward important messages, engage with your customers on an ongoing basis, and prioritize digital tickets for work will save you and your team time, and increase customer satisfaction and engagement.
5. AI Drives Innovation
Automating processes and systems will decrease the amount of time-consuming and boring tasks for your team. This will help to reduce human error in data entry, keep services rolling effectively, and allow for more time for your team to be creative. Your team will have more time to focus on assisting your customers, developing processes, implementing strategies, and generating new ideas.
How To Market Your Business Using AI
If you want to take advantage of the benefits of AI and boost your business in 2018 and beyond, then you will want to market your business with programmatic advertising.
Programmatic Advertising
“More than 80% of Digital Display Ads Will Be Bought Programmatically in 2018”- emarketer.com, 2018
Programmatic Advertising has been around for a few years, but we will continue to see an increase in usage as machine learning becomes faster, smarter, and more efficient.
The combination of human intelligence and automation advertising (e.g. Google Adwords) allows marketers to target and connect with the right audience at the right time for the best investment.
Mike Rhodes, Google Online Advertising Expert, explains how Google’s AI will impact your business in this Perpetual Traffic podcast.
Businesses that adopt Artificial Intelligence will be faster, more efficient, more resilient, and more appealing to the creative minds of the next generation workforce.
