6 Ways to Leverage Artificial Intelligence for Business Growth

The AI industry is expected to grow more than 13 times in value over the next seven years. Artificial intelligence has already seeped into every business area and will continue to rise in importance in the decades to come.

Some enterprises have already embraced it in a bid to leverage the many opportunities it presents. Going forward, you may not have much of a choice either when it comes to adopting AI tools and resources to remain competitive.

Here are six important ways you can integrate artificial intelligence today to boost business growth.

1. Creating Impactful Content

Earlier this year, ChatGPT became a hot topic of conversation in all fields and industries. The AI-based platform gave content creation a new meaning, instantly generating blog posts, advertising copy, social media posts, and a variety of other material with a simple prompt.

But ChatGPT is one of many AI tools available to help with your content needs. Now, you can find resources to create designs, templates, images, photos, videos, and countless types of materials. All these have made content generation simpler and faster, allowing businesses to perform many of the content-related tasks in-house, saving a significant amount of money along the way.

Of course, there are still many ambiguous areas about using AI-created material for business purposes, with copyright concerns undoubtedly topping the list. But you can still use these tools to generate ideas, validate strategies, and even improve your existing content.

Grammarly, for instance, combines artificial intelligence with natural language processing technology to flag grammatical errors and suggest improvements, helping businesses create more impactful copy.

2. Optimizing Lead Generation

Having a solid pipeline of high-quality leads is crucial for any sales team. Today, with the internet becoming a massive source of personal data, businesses are able to identify and reach prospects in ways unimaginable in the past.

However, finding, organizing, and storing large volumes of information require significant staffing and investments. But with AI-powered lead generating platforms, your business can create lead lists in no time.

These platforms are in the business of collecting data and compiling millions of profiles using artificial intelligence. The data they possess are screened, verified, and updated continuously to ensure accurate information.

The best part is that their databases are easily searchable. Leadar, for instance, allows you to find prospects by name, geographic location, job title, company, and various other criteria. This makes it easier to identify prospects and build an effective pipeline of high-quality leads within a few minutes.

3. Delivering Enhanced Customer Service

The simplest example of artificial intelligence in customer service is the use of chatbots. Although limited in capabilities, these intelligent service agents offer significant ease for both clients and customer service teams by automating many of the service-related tasks.

Some businesses, including AWS and Sony, are already deploying more advanced versions of the simple chatbot in the form of digital humans. These are surprisingly human-like service agents with the capability to recognize, mimic, and respond to human emotions and conversations. They provide a friendly, familiar face to replace the text-based chatbot, elevating the customer experience to a new level.

This type of AI-based service support offers distinct benefits for businesses and customers alike. For instance, unlike human teams, digital humans are able to liaise with customers, answer questions, and provide information around the clock. You can also program them to converse in several languages. This allows companies to quickly expand their services to different global markets while keeping costs down.

4. Automating Business Processes

Employees can spend an enormous amount of time on repetitive tasks. Needless to say, this reduces their productive output and the efficient use of their time.

Artificial intelligence enables businesses to automate many of these activities and make better use of their human teams. You can apply automation technology to a variety of processes across all departments, from supply chain and manufacturing to marketing and finance.

For example, you can automate label printing activities in plants and the issuing of invoices by finance departments. Marketing also deploys automation for routine work—from scheduling social media posts to sending emails.

5. Improving Business Decision-Making

One of the most important contributions of artificial intelligence is enabling businesses to process large volumes of data. And when you have more information at hand, you can make better-informed decisions.

Access to information not only improves the quality of your decisions. AI-powered data insights are generated in real time so you can make decisions faster. In other words, you can react and respond quickly to market changes, customer needs, and competitor activities, minimizing reaction delays. As a result, you can leverage opportunities, serve customers better, and defend your market share from sudden competitor moves.

Moreover, you also get to benefit from AI’s predictive analytics capabilities to identify trends and predict future movements with higher accuracy. This means you can forecast raw material requirements, ascertain customer purchasing behaviors, and predict resource needs with greater precision and, thus, save time, resources, and money.

6. Strengthening Business Security

AI plays a major role in modern security and risk-management systems.

On one side, it could strengthen your cybersecurity strategy by continuously working in the background to identify potential cyber threats, alert IT teams, and quickly take necessary measures to mitigate risks.

Powerful AI tools can also help recognize other business threats thanks to their ability to process large amounts of information and detect anomalies. For instance, they could flag unusual customer transactions based on volumes, values, frequency, and other criteria, enabling you to address fraudulent activities without delay.

To Wrap Up

Despite some of the negative publicity, proponents of artificial intelligence have continued to stand by this revolutionary technology for its many benefits to human society. Businesses, in particular, could gain much from its effective application in driving sales and business growth.

AI can offer tremendous advantages in the areas of content creation, lead generation, customer service, process automation, decision-making, and business security. But combining its adoption with employee training is essential for equipping your business and teams to benefit from it successfully.