Artificial intelligence is fast becoming a common implementation for businesses of all sizes. When you have the ability to automate processes and use an array of tools to streamline everything from graphic design to customer service, making sure your business is up to date with the latest AI trends is vital to your Can reduce outgoing and keep you one step ahead of the competition. ,
8 Ways to Lower Business Costs with AI
It’s no secret that the global economy has been financially affected over the past few years, so businesses can benefit from ensuring their financial stability. With that in mind, we’re going to take a look at the top ways you can use an array of different AI tools to help you lower your business costs, whether you’re just launching or first Get established in your niche from now on.
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Ben Graham’s big profit from junk investment
As I covered in the second part of this series, 1948 was a landmark year for Benjamin Graham and his partner, Jerome Newman. The pair, who founded the Graham-Newman Corporation in 1936, found themselves owning 50% of the Government Employees Insurance Company (GEICO), a struggling insurance business. However, due to the SEC the ownership of the investment company Read More
ai logo design
Your logo is often the first thing a customer sees when interacting with your brand, so it’s especially important to design a logo that reflects who you are and what you do.
For small businesses, a logo design by a professional designer can cost anywhere from a few hundreds to thousands of dollars.
Such expenses can be challenging and risky for those who are just starting their business. Fortunately, AI technology has made it possible to use AI logo creation tools to create custom hand-crafted logos in just minutes, for a fraction of the cost and without the need to hire a professional designer.
Most AI logo creation tools offer several logo designs to choose from, so they can be used not only to save time and money, but also as a way to explore a range of styles and designs.
Customer Service Chatbot
A whole host of businesses can benefit from automating their customer service practices. When your customer service reps are spending a significant amount of time answering basic questions, using chatbots that apply natural language processing (NLP) to define informative, pre-defined responses unnecessarily replaces human interaction. can reduce.
If you don’t yet feel it’s necessary for your business, you can also use a simpler form of AI, such as predictive text, to answer questions to speed up your output.
Interactive Voice Response (IVR)
Automated phone systems such as IVRs can also be used by customer service representatives to trace more complex customer calls and route them to expert advisors who can resolve their issues faster and more accurately. .
Not only will this save you time and money, but it also improves customer satisfaction, sentiment and customer retention by reducing wait times, call transfers, the need for repeated contacts and more.
screen assist software
Screen assist software can be used along with chatbots and IVRs to help your customer service department better interact with customers. This type of AI software provides users with the ability to access repeated customer data, including their customer health and call history, to quickly define solutions when a call is activated. This will reduce callbacks and save time as well as the ability to bring in subject matter experts (SME representatives).
Using AI software to generate emails can free up time, boost marketing efforts, and save businesses money. You can implement tools that will automate email campaigns with customized subject lines, keywording, and more.
You’ll have the option of scheduling when emails go out (some software will have algorithms to help you determine the best time to do this) and personalize your emails so they don’t get marked as spam. .
cyber security ai
To give a little insight into how vast online businesses are, there are 26 million ecommerce websites alone around the world. With the risk of cyberattacks and hackers increasing every year, having well-designed yet cost-effective security measures can be vital.
Combining cyber security efforts with AI software can help interpret patterns and detect changes in user behavior, as well as accurately predict and respond to potential attacks without the need for third-party experts Modeling can be provided.
Automated Recruitment Processes
Artificial intelligence can be used by HR professionals when it comes to finding the best candidates for roles, rapidly and with little effort. AI tools are primarily used to scan CVs for keywords, to remove any submissions that do not match specific criteria.
Using AI to improve your digital marketing efforts won’t save your business money, but it could increase your revenue. AI and machine learning (ML) processes can gain deeper insights into market sentiment by analyzing data compiled from customer calls, emails and other interactions (such as social media comments).
This can give businesses an edge when it comes to targeting ads and improving their marketing campaigns. The better you are able to interact with customers, define their needs and enhance your digital content, the more you will develop meaningful predictive models that can maximize your sales potential.
Is AI Going To Save Your Business A Significant Amount Of Money?
Right now, AI is still being refined and developed to bring a high degree of automation across a whole host of processes in the business sector and beyond. This means that while you can use a range of affordable tools, software and even platforms to save money, your ability to reduce your spending only gets better as the years go on. Progress and technology continues to develop.
There are also myriad ways to use AI to increase revenue and better reach your audience, so businesses can certainly benefit from implementing the right solutions now and staying on top of the latest technologies in the future.