3 Ways Small Businesses Can Use AI to Drive Growth SPONSOR CONTENT FROM PAYSAFE

These tools can answer common questions about your website data, find insights that humans miss, and even build conversion models for you to better attract new customers. Today, AI has made great strides in being able to generate natural language that sounds like a human wrote it. As a result, there are dozens of AI tools that can write short-form and long-form content for you, including posts, product descriptions, and social posts. The way businesses approach marketing has gone through its own course of evolution throughout the years, and now AI is here to revolutionize it further.

If you create content, for instance, you know that research sometimes takes longer than the writing itself does. Karasin estimates that he saves 15 to 20 hours per week how to use ai in your business using ChatGPT to find citations and resources for topics he writes about for clients. However, he stresses the importance of verifying the information for accuracy.

How to leverage artificial intelligence for business growth

Once you have that, you can use AI to analyse this data and quickly compile detailed reports. If you’re ready to embrace AI, here’s our guide to how to start using it in five key areas of your business. Cognitive technologies are increasingly being used to solve business problems; indeed, many executives believe that AI will substantially transform their companies within three years. Once you’ve integrated the AI model, you’ll need to regularly monitor its performance to ensure it is working correctly and delivering expected outcomes.

Once you have a result–whether it is positive or negative–then you can have a hypothesis for AI testing. Otherwise, the field of action will be too vague, and you might end up wasting time and money. With this approach, we have a measurable indicator in the form of money or time, which we will try to attain by implementing AI and see whether this has any impact. For example, CNET experimented with AI-written articles, and they turned out to be full of flaws.

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He said AI can be plugged into many processes that require human labor and then either fully or partially perform that process — faster, more accurately and at a higher volume than any human could. Accessing and organizing knowledge is another area where AI — in particular, generative AI — is demonstrating its potential to organizations and their workers. Even when tasks can’t be automated, experts said AI can still aid workers by offering advice and guidance that helps them level up their performance. Here are 15 top applications of artificial intelligence in the enterprise.

Hannah Dawson, designer and founder of independent jewellery brand Clover & Swift, uses generative AI to write product descriptions and post on social media. “I input a quick description and make any alterations, and it saves me so much time,” she says. AI tools, such as ChatGPT, Adobe Firefly and Pictory (to name just a few), can generate engaging content across mediums from video to the written word. Perhaps one of the most valuable aspects of AI tools is how they can allow you to access skills that may otherwise be out of reach. This benefit could be particularly useful in the early stages of your business if you don’t possess a certain skill set and are not in a position to hire someone who does. Rather than spending time trawling the internet, you can simply ask an AI tool to gather relevant data for you.

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This process can be complex and time-consuming, so it’s important to have the right expertise in place. AI has the potential to revolutionize the way small businesses operate, providing a competitive advantage and enabling them to scale and grow in new ways. It’s essential for businesses to stay up to date with the latest advancements in AI and embrace AI-powered tools and platforms to remain competitive and achieve success in the digital age.

Listed below are a few examples of how artificial intelligence is used in business. If you own a smaller company or startup, you may prefer to respond directly to customer service queries. For example, it could help you craft responses to questions or gather consumer insights from customer feedback. By embracing AI, small businesses can unlock a new level of marketing personalization, connecting with their customers in more meaningful ways. As AI technology continues to advance, businesses that invest in AI-powered marketing solutions may get a competitive advantage over their competitors.

Steps to Get Started with Artificial Intelligence for Small Business

By implementing AI for customer service, businesses can create a more efficient and satisfying CX, improving customer loyalty and driving business growth. There are a number of powerful use cases for AI in small businesses across marketing, sales, operations, and customer service. Last, but not least, you need to understand that you can get started with AI right now.

AI language models are trained using data from various sources, including the internet, so they have the potential to contain inaccurate responses. The standard version of ChatGPT, for example, doesn’t have access to data after September 2021. “The benefits we’ve experienced from using AI tools have been exceptional. We’ve witnessed a tenfold increase in productivity, allowing us to accomplish more in less time,” Bridget Greenwood says.

Wharton Online’s Artificial Intelligence for Business course was designed to provide learners with insights into the established and emerging developments of AI, machine learning, and big data. When you think about artificial intelligence being used by businesses, your mind likely jumps to automation. While some applications of AI do involve automating processes that were originally completed by humans, that only scratches the surface of what AI and machine learning can do. Market research is an important practice for businesses, and AI can make it a much more efficient process.

We’re suddenly surrounded by incredible tools that instantly produce text, images, voice, video, code, and more, with human-like capacity. Entrepreneurs can take advantage of AI solutions to build their businesses more rapidly than ever. The power of Generative AI can make the data, AI models, and AI applications available to everyone in the organization through an easy search bar interface.