How AI Can Benefit Entrepreneursby Robert Smith Technology Expert
Artificial Intelligence is advancing each day. AI is now leveraged by both businesses and the general public for enhancing customer experiences. According to a report by Gartner, AI has the potential to generate a business value of $2.9 trillion by 2022. AI aids in running a business easily and effectively as it offers several benefits to entrepreneurs to grow their business. Let us understand how.
1. AI Facilitates Creativity
Creativity is crucial to achieving innovation for every entrepreneur who wishes his business to be competitive. AI minimizes the mental strain on an individual by managing repetitive tasks that would otherwise require their time and attention. This way, the parts of the brain which are used frequently begin to deactivate, and it activates the parts responsible for Creativity. For example, Robotic Process Automation can be leveraged to remove repetitive tasks from human workers. This saves time for your employees and gives them the scope to focus on creative tasks.
2. Improves Return On Investment
AI can improve your ROI. An entrepreneur will be able to get a higher ROI when the team is focussed on essential tasks like strategic planning and design, which results directly into business revenue and enhance productivity.
3. Time Management
Managing time is one of the crucial factors contributing to a company’s success. Many organizations are now looking for ways to integrate AI into time management to optimize the making of accurate predictions based on the available data. AI aims to help organizations to make the best time predictions and minimize waste, and help them maximize their resources when they are in dire need. Implementing Artificial Intelligence in this area of a business will help entrepreneurs create a positive impact.
4. Enhancing Customer Experience
Enhancing customer service by being available for your customers and to support them when they need you the most can be done by AI. It is next to impossible for humans to be available all the time. It is quite expensive to run an operation with employees working on multiple shifts, especially when you have just set up your business.
Chatbots are the perfect solutions to enhance your workforce and enhance the customer experience. A chatbot is a computer algorithm, designed to have conversations with humans. They can be utilized to answer frequently asked questions and carry out routine tasks when human workers are engaged in other jobs. Chatbots provide all-time support to customers by providing instant answers to customer questions and adding value to the business.
5. Increases Automation
Automating manual tasks helps businesses in saving time and money, resulting in continuous growth. Software applications can be created to automate business processes and can help in saving time taken for manual labor. This helps remove repetitive, mundane tasks from a worker’s responsibilities and enables a business to scale its automation intelligently for efficient operations.
Created on Sep 20th 2019 06:44. Viewed 960 times.