Artificial intelligence is rapidly evolving, and businesses across many industries stand to benefit from this technology. From streamlining administrative tasks to improving marketing campaigns, there are countless ways AI can boost productivity and efficiency.
While it’s still in its early days of adoption by businesses, you may find AI can give you a significant advantage as you look for ways to implement it within your own organization. We asked the members of Young Entrepreneur Council for some specific ways businesses can leverage artificial intelligence today and see quick results. Their best responses are below.
1. Training and Learning
Through AI, we can train more people and enhance their learning. Gaps in knowledge will be filled faster and easier through AI exams and training. Your team will now be more confident in doing their jobs and more equipped than ever. Soon, you’ll see how a person grows and gets better within the company, and more people will be inspired to learn. —Daisy Jing, Banish
2. Decision Automation
The key to successful AI implementation is creating leverage. Useful AI makes decisions rapidly and frees up your executive team for other work. Leverage varies for every business. For example, if you don’t spend much time dealing with leads, then don’t bother with a chatbot. Or if your COO is always dealing with suppliers, then automate your bid selection process. —Nathan Klarer, Technology Entrepreneur
3. Website Analytics
Since most businesses have a website, keeping track of data through website analytics is a great tool. It’s so helpful to know what is trending and what people are searching for so you can improve your site’s SEO strategy. In turn, this helps your website ranking improve, therefore helping your business quickly become more familiar to your target audience. —John Hall, Calendar
4. Hypertargeted Advertising
Developments in AI have made it easier for algorithms to detect your ads’ target audience. Similarity-based explainable AI (XAI) uses machine learning to find strategic ad placements and recommendations based on how your audience responds to your campaign. Tools that run XAI applications remove much of the legwork in placing your ads for maximum ROI. —Amine Rahal, IronMonk Solutions
5. Pattern Recognition
Use AI to look for patterns in your data. Once you have a lot of structured data, you will be able to use AI to make better business decisions that you might be missing with the naked eye. Download your traffic data, CRM data and any other structured data that you have and use AI to analyze the patterns. —Solomon Thimothy, OneIMS
6. Streamlining Mundane Tasks
Using AI to take mundane tasks out of the hands of employees is a great way to see quick results. Plus, the data garnered from having AI handle these tasks is more accurate, further increasing the productivity of your team. —Andrew Schrage, Money Crashers Personal Finance
7. Virtual Assistance
All business owners need virtual assistance sometime in their work, just like Alexa, Siri and Google now act as assistants in people’s daily lives. Apart from talking to home appliances, VAs are taking over the e-commerce platforms. For instance, Amazon has integrated Alexa into its platform where users can search for products and the latest gigs online. —Kelly Richardson, Infobrandz
8. Influencer Marketing Optimization
Striking a solid deal with the right influencers can be difficult. With AI-powered machine learning, however, you can identify the right influencers for your market audience and target reach. These tools can predict how well an influencer will perform with your specific product campaign and ensure you get the most out of your market approach. —Matthew Podolsky, Florida Law Advisers, P.A.
9. Probability Models
Try the machine learning applications, already working in areas such as facial recognition on Facebook, to predict behaviors across your social media. In your monthly strategic and tactical plans for social media, run an AI application probability model to measure preferred metrics. Probabilistic modeling helps predict conversions, likes, and types of content performance based on existing data. —Matthew Capala, Alphametic
10. Social Media Sentiment Analysis
A social media listening tool will pick up brand and product mentions and aggregate them for you. Sentiment analysis will let you know if your audience is expressing a positive, negative or neutral feeling. Imagine what an impact this will have in managing PR. You’ll be able to pick up vital information quickly and step in to mitigate any major issues. This is a solid way that AI can help. —Syed Balkhi, WPBeginner
11. Content Creation
Most businesses have blogs, and if those blogs don’t provide relevant, valuable information, then they’ll fail to drive traffic and produce sales. AI can help your business create topics relevant to your industry that also rank well in search engines so your blog has a higher chance of visibility. —Stephanie Wells, Formidable Forms
12. Image Management
There are many reasons why a business may deal with images. If you have an e-commerce site, your sellers need to upload pictures to showcase products. People also insert images when submitting guest posts. AI can automatically process and tag inappropriate images, duplicate images or poor-quality ones so that they get flagged. This saves you time and prevents major problems. —Blair Williams, MemberPress
13. On-Site Chatbots
Most companies have a live chat service that they use to help customers. Quite a few of them are beginning to add chatbots to their website with live agents. The bots act as marketing tools, a customer resource portal, and a self-service application for solving simple problems like changing a password. It’s clear that AI, in this instance, plays a prominent role in exponential growth. —Chris Christoff, MonsterInsights
14. Retargeting
You visited an e-commerce store or any website but didn’t complete the purchase. Now you’re seeing their ads on every site you visit. That’s AI at work. So if you have an online presence, you can do the same with AI-embedded Facebook and Google advertisements. Once you’ve identified them, either through past advertising or a custom list, you can target and re-target your users. —Vikas Agrawal, Infobrandz
