Over the years the world has seen changes in the industrial revolution and the one at the very centre of it now is Artificial Intelligence, (AI).
AI initiatives are now the core of every top global company. AI is assisting these tech companies in achieving an advantage in global competition.
The AI market is growing at an astronomical rate and indications show that this market would attain a valuation of $36.8 billion, globally, by 2025.
The many advantages posed by AI is not for the giant tech companies with huge investment only, but Startups in similar industries, are now in this league of the AI bandwagon, with a, not too explosive budget.
AI can assist Startups in cost savings, while simultaneously, shooting up their profit margins.
The power of AI can be utilized by small businesses, to boost the efficiency of the different sections of your venture, including branding, marketing and production.
Are you yet to harness the power of AI, for the growth of your small business?
Your competitors may have already employed it, therefore, having a competitive advantage over you.
With the application of AI, you could improve on these areas for high-profit margin.
Below, are ways, in which AI-powered tools can assist the growth, of Startups:
Sales and customer support
The two areas, which can come helpful, are the AI chatbots and coaching program for marketers.
The chatbots are employed, to enhance operations, in basically, generating automated outputs for requests, made by your clients.
Chatbots have shown proficiency in dealing with the customer engagement process and can, easily, provide an alternate cost-effective means, thereby, putting an increase on profit margin.
The coaching program for marketers is effective, in analyzing data and certain patterns.
With some AI-based tools, like Chorus, your Startup can figure out patterns obtained from records of sales that are successful.
From here, your marketing team can replicate the winning strategy.
Branding and Marketing
Startups can use AI’s attributes, which includes machine learning and audience segmentation, to identify product-market fits, very easily.
You can also identify the patterns of your consumers, through AI platforms.
This can help you to get prospects for your value proposition.
Within the cyber-security space, AI has become an effective tool.
Employing AI’s analytic tools, security specialists have identified breaches on security, on a number of occasions.
These AI security tools, assist cyber-security experts in tracing out anomalies quickly, in systems, to prompt timely responses.
Artificial Intelligence can also be used for facial recognition, through power biometric authentication.
With this, you are provided with a complex layer of protection on your devices, against cyber-attacks.
The need for human security expert does not need to be over-stretched, as you would have saved some cost.
With AI-based tools, you can keep your business in competition and at the same time, increase your profit margin.