How Artificial Intelligence Can Help SMEs
In today’s society, technology has transformed every facet of our lives – from our daily mundane tasks such as sweeping the floor to flying cars, there seems to be no end in sight. Amidst the rapid development of technology and digital processes, artificial intelligence or AI – has been one of the most disruptive on the technological front. When it comes to business, AI has plenty to offer too – from automation of a part of customer communications to understanding market or product fit.
In today’s article, we discuss the significance of artificial intelligence and four ways it can help grow your business, especially if you are starting out with a small business.
1. Increase sales and Improve Marketing with an AI-Incorporated CRM
Customer-relationship management systems (CRM) are crucial to obtain data of customers across communication and media channels such as emails, mobile phones, and apps in order to increase efficiency or automate the sales process. AI aids SMEs or small business owners to examine feedback from customers through the relevant communication channels to modify marketing and operations activities.
2. Improve Customer Communications through automation
There has been an increasing trend towards utilizing chatbots on websites to initiate customer communication and clarify commonly asked questions. You may have even encountered it while shopping online with popups inquiring whether you need help with sizing or recommendations. These chatbots serve as a personal sales and customer service official at your assistance any day, any time. Many SMEs may not have a dedicated customer service department or sales team at their nascent stages. As such, chatbot AI can help you along the way to allow you to direct your attention to more pressing issues at hand.
3. Simplify Human Resource Processes
The irony of the fact that AI has impacted the department of human resources may be baffling to many. Yet, AI has the ability to streamline the employing and onboarding process and also gather valuable feedback from new employees about improvements, which will undoubtedly have a tangible impact on your company’s fundamentals. AI can also be utilized to filter through applicants to find those that match the job description and criteria of the position will not only improve the chances of finding the right quality candidate, but also allow you to save time and resources by streamlining the process the for you.
4. Obtain Competitive Intelligence
Analyzing all the digital information produced by competitors, such as written or digital content or social media posts may seem to be a daunting task. Yet, AI is able to achieve that – in an efficient manner. There are numerous AI competitive intelligence tools that enable you to monitor competitor activity online, attain the relevant data and simplify it into easily understandable reports. These tools allow you to obtain a greater quantity of information, which enables you to respond in a much more efficient manner to any changes in your industry.