Artificial intelligence has disrupted the entire business industry. In a survey conducted by executive coaching firm Vistage, CEOs of 29.5% small and medium businesses responded that out of all new technologies, the AI technology will have the greatest impact.
Here are 3 ways in which this will happen:
- Acquiring competitive intelligence
If you’ve ever thought of analyzing every bit of information that your competitors produce, rejoice. Your wish has been granted.
Artificial intelligence has several tools that keep tabs on everything that your competitors do. They, then, curate this data and distill it in easy-to-read reports. A salient example is Crayon – an AI technology-based tool that tracks competitors across channels, websites, and social media handles to gather a variety of data for your perusal.
- Streamlining HR tasks doesn’t only facilitate hiring and onboarding processes, but also allows feedback from new employees on how to improve these processes – and both these practices can significantly transform a company’s bottom line.
- AI can be used to wade through several applications to shortlist the best eligible candidates.
- With this, not only does the time required in the hiring process gets reduced, but the quality of applicants also increases.
- Automate visitor conversations Chatbots were initially thought to be fancy add-ons. Of late, most businesses have understood their actual potential and are now leveraging them to stay connected with their site visitors. Chatbots are effective sales and customer service representatives, available 24*7, even when you log off. They usually take their place at the bottom of the screen and if you can’t afford a dedicated customer care team, the chatbot AI can help alleviate the pressure of engaging your customers round the clock.
You don’t have to hope that the future will bring AI in business. With efficient tools for every task already in place, all you have to do is find out where to start.