AI has been around for quite some time. It goes as far back as the 1950s but it wasn’t until the last few decades did we see it in full action. Its inevitable development had people fearing over losing their jobs. But the truth is, AI is actually creating more opportunities. It’s changing the way entrepreneurs run their business and it’s only going to get better as the technology gets more sophisticated.
For instance, if you have a service that requires immediate customer attention, it’s useful to have something to filter the needs of the customer for a smoother experience. Consumers now are more likely to pay attention to something like this, especially if it affects luxury items. Most subscription services require this type of attention to retain a customer since sometimes these boxes are not just gifts to loved ones but are a part of the person’s lifestyle.
For those of you who are not familiar with AI, this article is here to give you a look at the ways it’s actually good for businesses and employees.
AI as Customer Relationship Management
A huge chunk of running a successful business is maintaining customer relationships. However, not all of us are gifted with abundant time to look into this aspect. With the help of this technology like AI chatbots, entrepreneurs can address customer concerns right away. It’s able to do so because its system always updates and corrects itself.
AI as a Support Tool
AI isn’t that highly advanced yet but it’s definitely better than what we had in the yesteryears. Today, AI can go through trillions of data faster than a human being. This saves a lot of hours and gives actual humans a faster way of making decisions.
AI Can Make Predictions
Speaking of decision making, AI can help prevent future problems by predicting them. It has a better ability to foresee future problems that a human being might miss. With this, we can address any problems and avoid worsening it which is not only costly but tiresome.
AI Can Help Make Systems Secure
In relation to the point above, AI can help detect holes in your cybersecurity that may be too complex to be diagnosed by a human.
AI Can Help with Menial Tasks
So people are scared of artificial intelligence taking over most job positions but the truth is, it’s only taking away those soul-sucking tasks. The time spent doing can be diverted towards higher-level tasks that can only be performed by humans.
AI Can Provide Customized Service
AI can help tailor every customer’s experience based on their needs. For example, in real estate, if a system detects you’re in a property for longer than 20 minutes, it automatically sends you an offer for a mortgage. Or say in a restaurant, AI can change the aesthetic and music based on the guests’ interests. Clearly, AI is not just about sorting and gathering data but also creating a physical environment that’s best suited for the customer.
AI is Helping Entrepreneurs Identify What’s Important
More than anything, AI thrives on data. This poses a challenge for businesses who may have no idea what type of data to collect. However, this is also a great way to learn about our business and customers’ needs. Not only does it help AI make better decisions, but it also gives entrepreneurs insight into their business and inspires them to come up with ways to improve it.
AI Allows for Creativity
The AI revolution should not be feared. If anything, we should embrace it. Think about it. No one has to perform those limited menial jobs anymore. With AI doing that all for us, business owners and employees alike can focus more on creativity and innovation. This allows us to come up with better ideas that make our lives more efficient.
AI is a Job Market In Itself
The fast growth of AI has opened opportunities for people to work in this industry. In fact, skills in AI are becoming in demand in places like LinkedIn. In two years between 2015 and 2017, there was a 190% increase in demand for AI skills. This means people who have expertise in neural networks, cloud computing, software testing, deep learning, machine learning are very needed in the AI industry.
What are your thoughts about AI? Have you seen it in action in your field? Share your thoughts by sharing this link on your social media.