Since 2016, Artificial Intelligence (AI) has been making the headlines. AI has managed to beat video-game champions, write screenplays, and a robot was even granted citizenship status. AI is known for increasing productivity, helping imagination, and streamlining processes. Research suggests that companies that have already implemented AI into their processes have witnessed immense growth. Here we will focus on what AI means for your business and how you can use it to formulate a business strategy.
Coming up with an effective sales strategy can be costly and time-consuming. A lot of factors need to be taken into consideration. People.ai is an AI-based software that helps businesses formulate effective business strategies. It does so by using machine learning and predictive analysis and sifting through business and customer communication. Therefore, these reports support the sales team to determine an effective sales strategy.
2. Human Resources and Administration
The primary purpose of AI is to facilitate processes. Amy is a robot that helps you take out the hassle of scheduling meetings. Consequently, many companies are now using Amy to automate mundane tasks to great effect.
Companies these days receive a bulk of applications for job openings. Unsurprisingly, sifting through these applications can be tedious. Tensorflow is an AI-based application that takes the effort out of the hiring process. It can sift through millions of apps. It will bring to your attention the application closest to your requirements.
AI has managed to seep into all aspects of business, which is excellent for business owners. Tools such as Postintelligence and Domo have proved to be highly effective for devising strategies to reach out to potential customers. As a result, you can use AI to improve the quality of your content across all social media platforms. For example, Post intelligence offers trending topics and suggests content based on your target audience. It also helps produce content that will sit well with your customers.
4. Supply Chain Management
Supply chain management is all about improving efficiency and speeding up processes. You can incorporate AI into supply-chain management, logistics, and warehouse automation. As a result, when your business has streamlined its processes, it can save on overhead costs. Multi-Echelon Inventory Optimization (MEIO) is a software that a lot of companies are now using to optimize their processes. The software does this by adjusting inventory positions.
Eventually, self-driving trucks will revolutionize deliveries. And, while this may sound straight out of sci-fi Mercedes and Tesla are working to make this a reality.
5. How to incorporate AI?
Even though it faces opposition, change is quite necessary. When AI first came across the horizon, most of its critics focused on how robots might take over our jobs. There is no denying that it is counterproductive to push new technologies all at once. However, assistive technologies, when used for assisting employees, boost employee confidence.
It is essential to dissipate misconceptions about AI replacing humans. Firstly, the purpose of AI is to facilitate work by taking over repetitive and mundane tasks. This, in turn, frees up time for human beings to focus on more complex tasks.
You can find more about AI and how it can contribute to your business growth. Sign up with our strategic consulting program and let us help you define your business goals to achieve new heights of success.