Artificial intelligence has been in the headlines for more than a year because of the risks it may pose to the public if not controlled properly. However, this is not always the case. When used smartly, this technology may bring a huge benefit to small enterprises. Generative AI technologies may help save time on tedious, repetitive tasks; increase the performance of marketing campaigns, and improve customer interactions, allowing companies to focus on more vital aspects of the business.
According to the Office for National Statistics’ April Business Insights and Conditions Survey, just 16% of enterprises in the UK are now adopting at least one type of AI technology. However, according to a poll conducted this year by HSBC, one in every four UK firms is currently investigating AI. If you’re ready to embrace AI, here’s how to get started!
#1 — Run Market Research
For any company, market research is a crucial activity, and AI can make it much more effective. Using artificial intelligence solutions, you may ask questions and get in-depth insights about your industry from a natural language processing tool powered by generative AI. Once you have the target info, you can then utilize artificial intelligence to analyze the data and swiftly put together comprehensive reports. For instance, Bridget Greenwood, the creator of The Bigger Pie, a group that offers networking and training for women in emerging technology, utilizes ChatGPT to scout out potential new markets for her company.
#2 — Access Skills You Don’t Have
The ability to access talents that would otherwise be out of your grasp is one of the most important features of AI technologies. If you lack a certain skill set and are unable to find someone who does, this advantage may be very helpful in the early phases of your company. For instance, Greenwood has created powerful presentations when making a sales pitch using two AI technologies. “[ChatGPT] has been transformative, brainstorming ideas, and creating compelling pitch decks for my clients,” the user claims. Additionally, you can check which country has the best developers for hire to get even more out of artificial intelligence.
#3 — Improve Customer Service
Some artificial intelligence solutions that use natural language processing are revolutionizing the way organizations deal with their customers, doing far more than merely automating a part of the customer service journey. Chatbots, sometimes known as virtual assistants, are a popular online business tool, especially for answering basic questions or guiding clients to resources. They are trained to recognize and respond to certain phrases, but AI can take consumer communication to the next level.
Octopus Energy, for example, currently utilizes AI software to create almost one-third of its client emails. Customers appear to prefer receiving responses written with AI. Octopus CEO Greg Jackson claimed in May that in the 16 weeks that AI was utilized, these emails received an 80% customer satisfaction rate, compared to a 65% score for those authored by qualified people.
#4 — Produce Digital Content
AI solutions can produce interesting content across several mediums, including video, visual assets, and copy. Hannah Dawson, the designer and founder of Clover & Swift, utilizes generative AI to create product descriptions and posts on social media. “I input a quick description and make any alterations, and it saves me so much time,” she said. Dawson is now using ChatGPT, but she is open to new AI technologies — “anything that makes my life easier,” she adds.
#5 — Boost Efficiency
By automating repetitive tasks and operations, you may free up your precious time to focus on more important aspects of business management. For example, some bots can assist in automating payments, allowing firms more time to devote to creative or strategic tasks that require more attention. “The advantages of utilizing AI tools have been exceptional. Bridget Greenwood says, “We’ve seen a tenfold increase in productivity, allowing us to accomplish more in less time.”
Make the Max out of AI
Leverage modern technologies to bring your small business to a whole new level. With artificial intelligence solutions, you can not only automate processes and process gigabytes of information in minutes but also improve customer service, access skills out of your reach, and boost efficiency.