5 Ways to Adapt Artificial Intelligence in Business for a Competitive Advantage

5 Ways to Adapt Artificial Intelligence in Business for a Competitive Advantage

Artificial intelligence can now process and deliver data much faster than any human can. This very ability of AI can have significant implications in business, if we learn how to maximize it.

But don’t be left out in the dark. Statistics show that 48% of companies are already planning to use AI to gain a competitive advantage. Stay ahead of the curve by adapting AI in your business this year.

Data-Driven Marketing

In order to find new customers, marketing departments need to learn how to utilize immersive and intuitive strategies. Using big data to analyze marketplaces will allow businesses to collect massive amounts of data regarding buyer consumption and behavior. If businesses try to understand market insights without the help of AI, there would be no real way to effectively analyze it unless you’re willing to dedicate several hours and your precious resources onto it, which could be used to do other important tasks.

When you use artificially intelligent machines, it helps give you accurate predictions about qualified leads and market trends, enabling you to build and segment your audience based entirely around data-driven analytics. It also helps you better predict actions you will need to take in the future, allowing you to become more flexible in adapting to your customer’s journey so you can offer the right product at the right time.

CRM & Sales

Imagine a world where technology so sophisticated exists and it helped you save precious time by telling you which emails to focus on, and which to ignore for later? These systems such as Knowmail do exist and you can now rely on AI to help you keep track of your email, calendar, and to-do list more efficiently than ever. Think of AI as a valuable assistant for sales that helps you focus on the tasks that matter most and get more out of your day. AI can also help automate CRM systems and produce targeted information compiled from market insights, allowing you to make more predictive forecasts.

Automating Systems

The use of automation has grown exponentially over the last few years. As more jobs can be replaced with AI, we can now delegate the mundane and repetitive jobs to machines. AI technology can now automate routine tasks in the same way that the industrial age introduced automated labor. From emailing to chatbots, booking systems, and more, AI is driving accelerated growth.

Market Insights

The raw material of today’s digital economy is data. But just like actual raw goods, it is useless without special equipment that can extract and then process it, in order to turn it into usable goods. Think of AI as a tool that assists you in extracting, analyzing, and interpreting data so that you can use it almost immediately and can drive better decisions.

Customer Understanding

Businesses can use AI to better understand customers and reach out to them. In today’s digital world, there are so many ways to connect with customers that there is an overwhelming size of data available relating to customer patterns, trends, and preferences. AI helps you sort through data to identify the ever-changing image of your customers while gauging how your brand is perceived on social media and other important channels.

When you have a clearer understanding of your customer, it allows you to refine your strategies to use the best channels, create effective marketing campaigns, and communicate with customers more efficiently. Using AI and machine learning can improve the way you reach out to your customers, giving you a better advantage over a competitor that lacks updated or accurate information.

 

Adapting to AI technology shouldn’t be seen as any different from adapting to email or digital from paper-based systems. The key to success lies in developing the correct mindset and teaching your team to do the same; followed by an actionable step-by-step process. In the future, more and more businesses will be using AI and it’s up to you to stay ahead of the competition. The sooner you adapt, the better for your business.

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