Artificial intelligence is here, and chances are, it is also here to stay. AI has been making things much easier for us, from keeping us in touch with our clients to having our moods improved by one of Alexa’s jokes.
This type of technology is still under development, but it’s definitely making things much easier for humanity – and even helps us boost our earnings. Here are some ways in which AI can improve the way your business makes money.
1. It Saves Time with Customer Support
For your business to be successful, you need to interact with your customers – and the more clients you have, the more time it will take to respond to all of them. Responding to customers is good because it keeps them happy – but when you do so, you may not have enough time to work for your company.
Getting a customer support team can help with this – but sadly, not every small business can afford it. This applies to those who are still at the beginning of the road. By getting AI technology to answer your clients, not only will it give them the information that they need, but it will also save you precious time and money.
2. It Helps Your Email Marketing Efforts
Investing in marketing is essential if you want your business to succeed. Good marketing is what brings your business out there – what presents your product to your customer. Sadly, for that to happen, you need to spend a lot of time sorting through clients, gathering data, responding to emails, and making sure that the right client gets the right targeted email. If you have a large client pool, this can easily take all day.
Artificial intelligence can solve many of these issues, ensuring that the customers get the emails that they need. It sees how the client interacts with your website or previous email, what they showed the most interest in, and calculates what they are more likely to buy.
Once it figures out the perfect content, AI also finds the right time for the delivery. By getting the right product out there at the right time through marketing, you’ll be more likely to make a sale. This will bring more gains to your company.
3. It Helps You Invest With Your Business
Whether you have a small business, a side gig, or some extra money hanging around, AI technology can help you make the right investment at the right time. It goes through a variety of platforms such as fx-list.com, picking out the best brokers to work with, and the proper investment choices, all in a matter of seconds.
AI takes out the human element. For instance, when you invest, you might be influenced by your emotions – and you may eventually fail. AI technology uses clear-cut data to see which investment is more successful – automatically investing or trading the allotted money at the right moment. This can help you make more money in the long run.
4. It Improves Communication Efficiency
People spend a lot of time communicating through emails. It doesn’t matter if you are the employer or the employee, those couple of seconds spent on the email will actually make you lose money. The more time is spent communicating, the more time is lost because it could have been spent on more important tasks.
The average hourly wage is around $30. And if your employees spend precious time communicating internally instead of taking care of their projects, you can imagine that this can cost you a lot of money in the long run.
AI technology can help improve the means of communication through automatic responses. The AI will analyze the information in the email, and based on it, the appropriate reply will be sent. AI can also handle automatic calendar scheduling, ensuring that any issue concerning the time will be solved before the employer even has the chance to ask. That saved money will go straight into your bank account.
5. It Helps with App Development
Pretty much every company worth its money will have an app nowadays. However, unless you have professional developers on staff, getting the app code might be rather expensive. Not to mention that even if you do create it, that application will require further maintenance – which means that you have to spend more money in that field as well.
Investing in AI technology can help you develop simple apps using the codes in the available databases. If the app also works using AI, then it will likely bring the clients in, therefore bringing more money in your direction. AI technology can also help you catch bugs or other issues. For instance, in 2020, Facebook used AI to delete billions of fake accounts, removing spam and making the company overall safer.
6. It Attracts Top Talents
Many companies spend a lot of time holding interviews and attracting talents. After all, you need the best people if you want your company to be successful – and the more your business grows, the more people you will have to hire. The problem is that browsing through applications by hand can waste a lot of your time – time that could have been spent on more important tasks.
AI will automatize the browsing process, looking through potential applicants and attracting them to your company. For instance, if you have a LinkedIn account, the AI will look through their skills and experience, automatically informing them of any potential opening that you may have.
Afterward, the AI will look among the applicants that turn in their resumes and choose the best one. This will also improve employee retention. Plus, not only will you get the best of the best working for you, but you also make efficient use of your staff’s time.
The Bottom Line
AI has seen more and more improvements out there, and it can help various people and companies make money. By eliminating human error and automating the process, AI will help make more efficient use of your time – and therefore, steer more money in your direction.