In the past, the newest technologies were only available to a small portion of people and a lot of time had to pass before they became available to everyone. The same rules applied in the business world, where only large corporations were able to get the cutting-edge technology that would give them a strategic advantage.
The evolution of computer sciences and digital technology has changed this and today even SMBs can adopt new technologies as soon as they come out. AI and machine learning are some of the latest solutions that require all business organizations to fall in line.
So the question is: “Do you have a game plan for implementing these solutions to harness the benefits they bring?”
How to Implement AI and Machine Learning to Boost SMB Productivity
The first thing every SMB needs to know is where to implement machine learning and AI. Simply put, no new technology will be of great help unless you know where to use it and find areas in your workflow where it can benefit your employees.
Even if you have the best chatbot out there, it won’t help boost productivity if used incorrectly.
There are many solutions powered by these technologies and they can be used in sales, marketing, improving customer experience and customer support, personalization, reporting, and so on. You need to recognize the areas of your business that can be improved and analyze workflows before choosing what kind of solutions you need and how they will be used.
Understanding the state of AI
One of the latest reports on the AI market shows that it’s expected to grow by 52% until 2025. AI and machine automation allows the production of high-quality products more efficiently and much faster, while also gathering virtual information which allows managers to make decisions in a more informed manner.
However, many companies are still reluctant about implementing these technologies, as companies aren’t willing to share sensitive data about their processes and production. It is also important to adopt a strategic approach to integrating large amounts of data from the back office to direct sales so that the system can provide real-time insights that are relevant.
Leveraging the tech that relies on AI
AI and natural language processing can boost productivity by reducing time spent in unproductive meetings while also making your staff happier and more focused.
It also reduces the time employees will spend processing and reviewing documents, improving accountability, better action tracking, and establishing a clear approach to delivering services, products, and process that drive revenue.
– Speech recognition
Speaking is much faster than writing. With speech recognition managers and employees and quickly create text without writing anything. At the same time, speech recognition keeps improving accuracy with the latest Google report claiming to have a 4.9% error rate. Not only does this save time when giving input, but it will take less to edit texts.
– Chatbots & amp virtual assistants
Henri Ben Ezra, the CEO of SnatchBot said “AI is learning to drive for us, offer shopping suggestions and help us figure out our taste. The best chatbot tools have incorporated AI and can both help customers find what they want easily while saving time for customer support agents. At the same time, virtual assistants have brought AI close to people in handling manual tasks, even in their homes.”
– Machine learning
Cloud-based platforms powered by machine learning are constantly fed with new data and through this data, it learns about a company, its customers, services, and product. With this knowledge, a machine learning solution can improve productivity by spotting trends and giving valuable insights into all these aspects of a business.
– Marketing automation
Marketing automation is an extension of machine learning and it can prevent marketing departments from wasting time on unqualified leads by recognizing them and categorizing them.
At the same time, it tracks customer behavior and improves customer segmentation, providing great reports and insights that lead to improved customer retention. In the end, you can automate the whole marketing funnel and streamline different channels.
Making sense of it all
Technology has always been a driving factor in business, especially if a company is focused on the digital world. A business that wants to succeed and make better results needs to evolve and adopt new trends.