A plethora of industry sectors have made profits and expanded their business through AI in recent years as the technology gives the business a much-needed edge to stay modern.
There are AI tools for virtually every task today, and the following are some of the significant benefits that you will find with AI.
- Reduced time spent on tasks
- Lowering of costs
- Better results and ROI
- Improved flexibility
- Reduced risk
Whether you have already started utilizing the potential of Artificial Intelligence or not, there is a high probability that you might not know about all the possible benefits that the technology has to offer.
As a leading AI app development company, we know that there are many apprehensions amongst entrepreneurs regarding this relatively new technology. In this article, we won’t delve into the technical details about AI, but focus on what AI as technology can do to your business.
You can use AI to provide your company with a competitive edge by utilizing its potential in the company’s marketing, long-term strategic planning, management, and other essential areas.
Let’s look at the various ways in which AI can help in the growth of your business.
Giving personalized experience to users
Using the innovations happening in AI technology, marketers can now improve user engagement by personalizing their experience. By amalgamating AI with techniques like search engine optimization (SEO), one can enhance the results to a great extent.
By using AI with SEO, one can yield impressive results as it improves the way a brand responds to its key performance indicators (KPIs).
When combined with SEO, Artificial Intelligence algorithms can help you understand your customers’ needs by building a persona-based intelligence. Every customer is unique, and if your brand is successful in catering to those unique needs of all the customers, then you will taste phenomenal success. Artificial Intelligence systems will help you understand your customers’ individual needs and plan your next move accordingly.
An AI system will identify exciting patterns in the customer’s purchase behaviour, make credit checks, and efficiently perform other functions. Automated AI systems also handle social media chats, e-mails, and phone calls today, freeing up valuable human resources to do more productive work.
E-commerce players are efficiently using AI in various ways. The AI algorithms identify the patterns in customer purchase behaviour by analyzing customers’ previous purchase behaviour. An AI system can quickly analyze millions of such transactions and derive meaningful inferences from them, helping your brand target your customers with personalized offers.
A prime example of personalization through the use of AI is Google. The company has updated its algorithm, and that has impacted the way paid advertising is done. The Google AdWords campaign is no longer optimized through humans, and Google’s own machine learning algorithms now manage it. Google customizes its ad campaigns after analyzing the demographic, geographical, and socioeconomic components. Semantic search engines combined with AI are going to be an essential trend in the near future.
Acquire Competitive Intelligence
It is every company’s goal to acquire in-depth competitive information about their competitors. Using the power of AI, you can achieve this. Your competitors will produce a wide variety of digital information daily right from social media posts to write as well as video content. It isn’t humanly possible to keep a tab on all the social media content yourself, that too on all the competitors.
It is where AI comes to the rescue, as using sophisticated AI systems, you can quickly know what your competitors are up to by analyzing the vast troves of data that they generate.
Tools like Crayon, for example, use AI to track competitor activity across different digital channels like social media accounts and websites etc. It can capture even the slightest adjustment in pricing and the marketing language.
Using such kinds of AI competitive intelligence tools, you can collect information about your competitors much faster. It allows you to respond to the changes brought in by your competitors speedily, allowing you a competitive advantage over your competitors.
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