July 15, 2024

You have all heard by now that artificial intelligence is the next big thing. This technology has already demonstrated its uses for art, advertising, and content creation. You might also not be so shocked to hear that it also has applications in business.

There is no need to swipe aside everything in your company to make way for AI. In fact, it will even help you to train some employees to use this technology. This is because AI is expected to change and improve business in a big way. It is the future, so it is worth understanding how artificial is necessary for modern business.

Setting
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Goals

Before you start anything in business, you need to know what you are aiming for. That is why a lot of business leaders start out with the OKR strategy.

Objective strategy and results schemes set out a clear objective and use key results targets to establish the outcome for these ideas. For example, the objective of lowering your carbon footprint can’t just involve recycling more. Instead, you need to select a specific result and go for it, like reducing paper waste by 60%. This means that the results of your initial objective need to be very specific for your strategy. While you can use countless man-hours and calculations to work out your results, you are probably better served using AI software to do it instantly. That way, you will always have an idea about how close you are to the benchmark. OKR training is available to anyone who wants to understand more about the subject, and see how you can use AI to accentuate your OKR strategy. You can find out more at 1ovmany’s website. Getting closer to your key results is vital in an OKR strategy, so make sure you use the best tools to get you there.

Reduced Human Error

As great as your new hire may seem, they will never be perfect. Human error is something we all have to contend with at some point. Whether that is accidentally knocking something loose on a computer or innocently forgetting your project deadline. Everyone has moments where they could have performed better.

Artificial intelligence has no such limitations. The constant string of information it processes is constantly being updated. This means that AI is not only incapable of human error. Instead, artificial intelligence will also update itself so that it won’t ever repeat any of the mistakes that it may make in the future. Even if any mistakes are made, these are normally machinery malfunctions that can be easily repaired with the right pair of hands. So, in a way, businesses can use AI to remove the concept of human error from the company while your employees can keep the AI tech running.

Automation

Some tasks are so tedious and time-consuming that they actually end up costing you more money and man hours than you would like. Yet, these tasks need to be done. For example, it is a job for someone in your company to calculate the monthly salary of every employee in your building. This includes adding in any extra hours of work and deducting time missed. As you can imagine, this is a long and arduous task for anyone to have to sit and do. What’s more, human error could lead to a mistake in your calculations. Sadly, any mistakes in payroll could have legal consequences for you and your company.

Fortunately, Ai can automatically make all these calculations for you and send out the results on time. Also, it can complete this task in a couple of seconds. It’s not just payroll either. Artificial intelligence can also automate other parts of your business such as:

  • Social media posts 
  • Daily reports
  • Employee rotas
  • Holiday timesheets

Customer Relations

A great way to know how your company is doing is to get some information directly from your customer’s mouths. After all, a happy customer is more likely to use your company again or spread positive word of mouth about you. Sadly, there isn’t enough time to ask every customer their opinion on their experience with your business.

Now, you could use online surveys or social media to gather this information, but it is much more efficient to use AI. Online chatbots have been a thing for years as a tool to receive customer feedback and guide visitors around your company website. Unfortunately, they weren’t always efficient as they required an employee to man the chat and give timely responses. When you use AI, you can set up online chatbots that run automatically. These bots can gather customer information and read it back to you in a way that is easy to understand.

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Marketing

Any business leader knows that marketing is an essential part of your strategy. Without it, people wouldn’t know who you are or what you do. However, AI is now here to change the marketing game for good.

While there is nothing wrong with previous marketing strategies, there are some things that can be improved. Artificial intelligence is now capable of creating brand-new graphics and art styles. If you need any of these materials for your marketing strategy, then you can use the assistance of AI. Although, modern marketing is more focused on social media posts and interactions. This approach is much more time sensitive than other marketing approaches, which is why it is good that you can program your AI to automatically make posts on these platforms. Also, AI can also predict other technologies. That means you can use AI to get ahead of other companies in the marketing game.

Improving Cybersecurity

While social media is now essential in marketing, another big focus of modern businesses is installing cybersecurity.  There are a lot of hackers out there who are good at tech and are looking for new ways to get at your business data. A lot of these people are out there and using harmful methods to steal your financial information. However, some hackers are also trying to steal your personal data which could land your company in legal trouble.

The most effective cybersecurity software encrypts your data which makes it useless to anyone who is trying to get hold of it. However, AI can constantly re-encrypt your security systems, so it takes much longer and it is much harder for anyone to break into your computer systems in the first place.

Saving You Money

It may not seem so relevant compared to all the other things that you can use artificial intelligence for, but AI is going to save a lot of businesses money in the future. This is true even before you think about the fact that a lot of computers will come with this software installed as standard.

Just take a look at everything your AI is doing for you, and you will see just how easy it is to save your company money. Firstly, automating certain tasks is going to prevent you from having to employ new people to do this work, or it will, at least, afford your staff the time to do something else that is more productive and financially rewarding. Secondly, you will also not have to spend so much on marketing as your AI has that part of your business covered. Lastly, the AI you use will also be better at protecting your data. Therefore, you are far less likely to lose money to an online scam or fraud.

Conclusion

It doesn’t take a lot to realise just how life-changing artificial intelligence is going to be. What’s more, these are just what we can expect to happen in business based on the technology we currently have available.

What AI Is Doing For Business first appeared on Web and IT News.

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