The most remarkable aspect of the 21st century's technological revolution is how many of the technologies once considered beyond reach are accessible even to the general public. It would be an understatement to say that Artificial Intelligence and Machine Learning is changing how we did business. It is altering the decision-making strategies for enterprises, helping retail chains in finding the best routes in mobilizing their supply chain, etc. Artificial intelligence is helping businesses in ways unimagined.

Global corporate leaders and technology giants have already invested heavily in Artificial Intelligence to run their day-to-day affairs. As per a survey by Vistage, 73.2% of small and medium businesses plan to invest in artificial intelligence software and tools to enhance their business prowess.

How small businesses are currently using Artificial Intelligence

Majority of the small businesses use artificial intelligence to enhance their business operations and are closely followed by Customer services.

Read also: How to influence your customer behavior with AI

How can Artificial Intelligence help small businesses

Artificial Intelligence and Machine learning with data analytics create a broad spectrum of applications. Following are the applications that Artificial Intelligence can improve upon for small businesses:

Enhance Sales and Marketing strategies with Artificial Intelligence

With artificial intelligence, small businesses can do more than email marketing campaigns. Artificial Intelligence can make CRM software to draw better insights from the various customer communication channels. This new insight can help businesses to adjust their marketing and lead generation strategies to achieve better results. Artificial Intelligence tools can ensure the better return of investment of your dollars spent on marketing to acquire and engage new leads. 

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Employ Chatbots for round the clock customer support

It's difficult for most small businesses to employ customer support executives. Chatbots powered by artificial intelligence can provide businesses round the clock customer support service with greater urgency and accuracy to address customer's queries, and understand what they want. Chatbots can handle multiple sources of traffic at the same time without losing efficiency. Chatbots are a highly potent source of customer data. This data can help businesses to understand what motivates customer’s needs.

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The AI-powered Talent Hiring process

Artificial intelligence tools can help you enhance the employee hiring process. It can sort through hundreds of profiles and find the best candidate with the most relevant skills. Talent hiring often takes an immense amount of time and effort. Artificial Intelligence tools can help you save time and take out many monotonous steps in the hiring process to create a more efficient hiring process. It makes talent-hiring more data and insights backed affairs. Artificial Intelligence tools can give out interactive employee orientation programs; it saves businesses from the need to go over the same process again and again for every new hiring.

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Know what your competitors are doing

Artificial Intelligence tools can give you deep insights into what your competitors are doing. It can go through all the content and data that is generated through videos, blogs, social media activity, etc. and produce in the form of easy to read reports. This insight is highly important to understand how customers engage with the competitor's strategies and how different it is from what they are doing.

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Artificial Intelligence tools to train your sales team

Artificial Intelligence tools can record and transcribe the sales calls, draw the essence from mails and live chats. It can draw insights such as if it was a particular word that did the trick, or how much time was spent listening v/s talking on the call to the customer, etc. Artificial Intelligence tools can compare these various strategies to draw out the most successful one and circulate it among your sales team without doing a comprehensive study.

Read also: What is Artificial Intelligence Marketing & Why is it game-changing

The influx of Artificial Intelligence will grow further in the future. It is a highly promising tool to help you save time, cost, improve your business processes, and create great value for your business. With artificial intelligence,

• You will be able to know what your customers want and how you can serve them to help your business grow

• Run your business backed by data and not on intuitions

• Identify and automate monotonous tasks

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