With the soaring costs of inflation, more legacy businesses are either turning to online mediums or looking to reduce overhead costs. The happy medium for that continues to be AI tools. AI tools continue to give businesses, big or small, so much flexibility in their day-to-day operations.
While there are those who are understandably skeptical about the increased AI technology, it’s clear that AI is the future of business. Take a journey with this article about why today’s businesses need AI more than ever.
What is an AI-Business Platform?
Depending on your type of business, AI might 100% automate the entire platform, serve as a hybrid solution, or just work quietly in the background. For those who work solo, like graphic designers, for example, AI can be the only business investment they need to streamline creating artwork. This measure can save time and avoid the need to hire more personnel. While there are those who are concerned about AI completely automating job functions, the main purpose is to assist businesses in improving efficiency and, ultimately, the bottom line.
Businesses Are at Risk
Running a business, big or small, comes with some form of risk. Obviously, more high-profile businesses and agencies, such as Fortune 500 companies, have to manage more personnel and deal with more cybersecurity issues. However, even smaller businesses and startups are dealing with the surging operational costs. With the right AI tools to fit their business niche, startups, mom-and-pop shops, and mega-corporations can stay in the game and even possibly thrive.
How AI Platforms Help Businesses
With AI technology and tools evolving at a fantastic rate, the capabilities and options for businesses keep growing and getting more refined. Let’s explore the top ways that AI tools continue to take businesses to the next level or, in the case of inflation, help to keep them afloat.
Automation and Enhanced Efficiency
The easiest and most cost-effective way that AI tools help businesses is through automation. Many mega companies, like those in the car industry, continue to automate most of the functions on the assembly line. Not only does this save time, but it saves on the bottom line because these businesses don’t need so many workers.
For the customer service industry, AI chatbots have advanced so far that they have been 100% taken over by human live chat agents. The realism is unbelievable, and it is hard to tell the difference between the two. These chatbots can work 24/7 and even more efficiently than human agents, keeping customers inspired.
Offer More Personalized Customer Experiences
There’s no doubt that we are in the era of streaming, shopping, and gaming entertainment. The new strategy is to provide personalized experiences. In these scenarios, behavioral AI tools can seamlessly and nearly flawlessly make winning movie, music, and gaming recommendations.
For those who like to shop online, e-commerce giants like Amazon use AI tools to create personalized displays like different clothing colors to help immerse shoppers in its experience.
More Precise and Successful Decision Making
If you are in any business field, it is true that the numbers don’t lie, specifically profits and deficits. The key to any business is to make the right decisions on time and to get a jump on decisions for the future. Because we are in such an information highway, AI tools are needed more than ever to aggregate the data and help to make the correct decisions.
The key is through advanced data analytics. Special AI tools like predictive AI can help paint the picture of where your business is going and can segment the data for realistic profit or deficit margins.
Enhanced Marketing
In many ways, this is an extension of the personalized customer experiences. Making sound recommendations based on customer data is one thing; successfully marketing to them based on this data is another challenge. Thankfully, AI tools excel in this arena and can seamlessly create dynamic ads.
For example, suppose you have a history of browsing for love sofas at a furniture store with behavioral AI. In that case, they can create dynamic ads about similar love sofas as opposed to new mattresses. For the iGaming industry, dynamic marketing is the primary way to reach members. Instead of running general promotions, often on games that most members don’t care about.
So, if you enjoy slots, particularly for the fantasy genre, look for behavioral AI tools to create dynamic free spins bonuses for that specific genre or fall slot games. And if you prefer poker, vice versa.
Cutting Costs
Undoubtedly, more businesses continue turning to AI tools to significantly reduce costs. Many traditional businesses are shutting down their operations to move exclusively online. Online businesses continue to rely on AI to automate most of their operations. As a result, it can cut back on its workforce or reallocate those resources to other needed business areas.
Enhanced Cybersecurity Measures
All businesses, big or small, have to contend with cybersecurity issues. These relentless hackers continue to cause billions in damage and permanently ruin brand reputations. As a result, AI tools are used as the frontline for cybersecurity measures.
In ways that human IT agents can’t, AI tools can scan a network to find weak spots and make suggestions on how to fix them. These same AI tools can also predict future network issues and can help programmers get a jump on fixing them.
AI tools also maintain cybersecurity measures by detecting threats in real-time. With so much traffic at once, it’s impossible for human agents alone to manage the network. AI tools can automate network defenses inside and out to prevent damage and downtime to the network. It can also automate its reports to the appropriate administrators.
AI-Powered Platforms: Not Just for Big Businesses
When it comes to AI tools, the misconception is that it is for only big businesses. If you’re reading this article now, you’re also impacted by cyber threats, or you need cost-effective ways to run your business. Even if you are running a small blog, using AI tools to automate and for content creation can save you time and can increase your bottom line.
Conclusion
All businesses, big or small, run into the ever-growing problem of inflation and operational costs. Right on time, like a White Knight, AI tools continue to assist, if not automate, entire business sectors to help them remain competitive. When used properly, AI tools can help businesses grow, but if used wrong, can miss the mark on a company’s business message and products.
For ideal results, consider having AI tools assist your human workers. For cybersecurity, AI tools continue to gather more data and automate new defense patches to remain compliant, so your company can focus on the bottom line.
