Tuesday, July 16, 2024

AI In Business: Insights from 8 Leaders on How AI is Shaping the Landscape and Creating New Opportunities

As artificial intelligence continues to revolutionize the business landscape, entrepreneurs are seeking ways to harness its potential, particularly in the realm of customer service and experience. In this article, we’ve gathered insights from eight industry experts who share their perspectives on how AI is transforming businesses and offer strategies for effectively leveraging this cutting-edge technology.

  • Use ML to Understand Customer Pain Points
  • Create Your Own Proprietary AI
  • Curate and Generate Marketing Content
  • Personalize the Customer Experience via Data
  • Provide Product Comparisons
  • Identify Content Areas of Improvement
  • Help Businesses Understand and Service their Audience Better
  • Integrate ChatGPT into Copywriting

Use ML to Understand Customer Pain Points

AI technologies such as natural language processing (NLP) and machine learning (ML) can help businesses automate some of their customer-facing activities, such as responding to inquiries and resolving issues. This can lead to faster response times, improved customer satisfaction, and reduced costs.

One strategy that entrepreneurs can use to leverage AI effectively is to focus on understanding their customers’ needs and pain points. By using AI to analyze customer data, such as feedback on social media or customer service interactions, businesses can gain valuable insights into what their customers want and need. This can help them tailor their products and services to better meet customer expectations, as well as identify emerging trends and opportunities for growth.

At the same time, it’s important to ensure that the use of AI is ethical and transparent and that customers are aware of how their data is being used.

Brenton Thomas, CEO, Twibi 

Create Your Own Proprietary AI

I believe businesses can provide better, quicker, and error-free support to their customers. 

But at the same time, I also believe that some online AI tools might not be a good option for many companies. They are generic and designed for standardized usage. You might not take full advantage of artificial intelligence if you don’t own it. 

So my recommendation for entrepreneurs is to invest in creating their own custom AI based on their unique requirements. It will take some time and funds to develop it in-house, but you will have full control over your AI-based business operations.

Shaun Connell, Founder, Writing Tips Institute

Curate and Generate Marketing Content

There are different ways to leverage AI technology effectively. Entrepreneurs can leverage AI for marketing. They can collect and analyze data to increase sales. Coming to the best results is now easier because businesses can analyze patterns and trends effectively with the help of Artificial Intelligence. This is a crucial process to improve customer service and experience.

You can know about social media activity and trending things on it by leveraging the power of AI. And make strategies for marketing your services effectively. Businesses are operating more smartly than ever before because of AI apps and customized software. Businesses can send personalized messages to customers and improve customer experience.

Content curation and generation are some of the most effective uses of AI. It has ballooned in the global market because technology puts the right things in front of the right people.

Saikat Ghosh, Associate Director of HR and Business, Technource

Personalize the Customer Experience via Data

AI is changing how businesses operate, ‌particularly in terms of customer experience. AI-powered chatbots can answer customer questions, provide recommendations, and resolve issues with no human intervention. This can free up human representatives to focus on more complex cases, while also providing customers with a more convenient experience.

One strategy entrepreneurs can use to leverage AI effectively is to focus on improving customer service. We can do this using chatbots to provide 24/7 support, or by using AI to personalize the customer experience. AI can track a purchase history and browsing behavior, then use that information to provide targeted recommendations. This can help businesses to increase sales and customer loyalty.

As this technology continues to evolve, it will probably have an even greater impact on the way businesses operate. Businesses that can successfully integrate AI will be well-positioned to succeed in the future.

Ricci Masero, Marketing Manager, Intellek

Provide Product Comparisons

The one thing AI is capable of doing, that all indecisive customers cannot, is pointing out which product is better.

 You can not only boost your sales but also navigate customers toward a particular product by allowing your company chatbot to compare products based on price, quality, and delivery options. 

In many cases, customers leave their baskets full and do not purchase the items simply because they cannot decide between similar items. Chatbots and AI can change that in a friendly way.

Marco Genaro Palma, Co-founder, TechNews180

Identify Content Areas of Improvement

AI-powered chatbots and virtual assistants can handle customer inquiries, freeing up human agents to handle more complex requests. They can also help businesses personalize customer interactions by analyzing customer data and behavior to provide tailored recommendations and offers. Additionally, AI can automate and streamline internal business processes, reducing costs and improving efficiency.

One strategy that entrepreneurs can use to leverage AI in content creation is to start by analyzing their existing content to identify areas for improvement. They can use AI tools to analyze factors such as readability, tone, and style and identify opportunities for optimization. 

Additionally, they can use AI to automate routine content creation tasks such as social media posts or email newsletters. This can help create compelling content that resonates with their audience and drives results.

Hassan Naeem, Real Estate Agent, Hassan Naeem Real Estate

Help Businesses Understand and Service their Audience Better

Using AI marketing, businesses can personalize their marketing messages, understand their audience better, optimize their marketing campaigns, and predict future customer behavior.

Here are a few examples of AI marketing in action:

1) Personalized Recommendations: AI can analyze customer data, such as purchasing history and browsing behavior, to provide personalized product or content recommendations. 

2) Predictive Analytics: AI can analyze customer data and predict future behavior, helping marketers make informed decisions about their target audience and marketing strategies.

3) Sentiment Analysis: AI can analyze customer reviews and feedback to determine the overall sentiment toward a brand or product.

While AI marketing has the potential to greatly improve the marketing industry, it’s important to remember that AI is not a replacement for human expertise. 

Kathleen Ortigas, Project Manager, Owendenny

Integrate ChatGPT into Copywriting

I believe businesses will use ChatGPT API and other AI solutions more and more, automating customer support, copywriting, and many more tasks that can be automated with AI. The strategy we have tried is implementing ChatGPT API into our Software as a Service product and promoting the solution to our customers.

Simon Terbovšek, CEO, CartFox

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