Using Artificial Intelligence To Boost Your Small Business
According to Gartner, many companies believe in artificial intelligence’s (AI) potential, with the industry recording a 270% growth in usage among businesses in four years.
AI usage could create close to $3 trillion of business value in 2021, according to Semrush. Take advantage of AI and use it to boost your small business as well.
However, implementing third-party AI software can cost up to $40,000 a year. Thankfully, that’s where an ITIN loan comes in. Since AI can create real value for your business, it makes sense to take out a loan.
This article points out ways to utilize AI to boost your small business.
Table of Contents
The Impact Of Artificial Intelligence On Small Businesses
Some of the ways AI can impact small businesses are:
Accurate decision making: AI applications can provide a benchmark that a small business can use to help them make proper and timely decisions. As the global digital ecosystem grows, efficient paths will create frameworks for better decision-making.
Better Security: most businesses’ primary concern is usually cybersecurity. Integrating AI applications into your network will help secure data as AI can help identify breaches in your network.
ImproveRecruitment and HR tasks: small businesses typically don’t have any HR personnel or department. That means the owners have to tackle all human resource duties, which can be overwhelming.
The AI features in some of today’s HR tech software can lessen manual work, speed up operations, and decrease repetitive tasks. You can also use these systems to create job searches, scan through CVs, and pinpoint top candidates faster.
AI Applications That Can Improve your Marketing
Getting capital ITIN loans can help acquire these tools to boost your marketing strategies:
Salesforce Einstein
Salesforce Einstein uses AI to analyze marketing, sales, and customers. Small business owners can use it to mine sales and customer information. This application is a business and customer analytics platform that offers flexible customer analytics.
HubSpot Sales Hub
This powerful Customer Relationship Management (CRM) tool features solid sales analytics and engagement tools.
Increase sales rep efficiency by placing all customer information in one platform for easy access. The CRM also points sales reps to warm leads and provides rich insights.
Intercom
Intercom’s chatbot uses machine learning to process its answers. The Resolution Bot digs into your FAQs and knowledge base to develop solutions.
Further, it can start conversations with potential customers (leads) and engage highly qualified leads to help convert them into paying customers.
Zoominfo
Zoominfo combines top-in-class technology with an incredibly comprehensive business database to fuel go-to-market strategies. Use this marketing tool to get an accurate view of prospects and customers.
Your sales and marketing team can use the seamless integration in their workflows and robust features to get more leads.
Yva.ai
The application is an employee experience platform. You can use this intelligent survey platform to understand your marketing workers’ needs in real-time based on the collaboration circles overseen by the powerful collaboration analytics.
Using AI For Management In Your Small Business
Here’s how you can use AI to manage your small business:
Smarter Email Marketing
Artificial intelligence has been prevalent in the marketing space for years. That said, it remains a great place to focus on at the beginning of any business journey and is now a reasonably mature concept.
Artificial intelligence-based email applications will do the work of reaching out to your customers when they haven’t been to your store for a while
Reducing Mundane, Repetitive Tasks
Several tools and software use artificial intelligence to help with sales processes. It would help determine which part of your small business needs help.
For example, an AI personal assistant can help schedule meetings and ensure meetings’ schedules happen at convenient times for everyone. It can even tell you when you need to make payments on your ITIN loans.
Stronger Sales
Sales and marketing are inseparable aspects of every business. An effective marketing process will result in better sales. Also, AI applications can help streamline your marketing process, which will allow you to sell more and make greater profits.
Understanding The Customer’s Journey
You can use artificial intelligence to track your customer’s journey and analyze their behavior. The insights you get from these processes will help create a more personalized customer experience, which might help keep the customer happier.
AI Applications To Enhance Your Business
AppZen
This cloud-based expense auditing and expense report solution can cater to large and small businesses. You can use it to contract audit reports, create invoices, identify rule violations, and analyze expenses.
Knowmail
This fully-featured business email platform serves small businesses and startups. It offers end-to-end solutions made for Web App. You can use its email monitoring, and queue manager features to manage your email marketing campaign.
Timely
Timely is an automatic time tracking application you can use to connect with your workforce accurately. Use it for capacity planning, project management, and scrutinizing payroll.
LegalRobot
This application leverages deep learning and machine learning techniques to process legalese. Small business owners can use this application to help them understand legal documents better.
Dewo
It is a productivity-tracking application that uses AI to develop up-to-the-minute timesheets for you and your employees. You can use this software to reduce distractions when employees are working.
IBM Watson Assistant
Watson Assistant is an application that allows you to integrate conversational interfaces and data into any channel, device, or application. The most common features that small businesses can benefit from are chatbots and virtual agents.
Trevor.ai
This is a task scheduling assistant that syncs with Google Calendar. The application also links up with all the tasks listed on Todoist to develop a task schedule that ensures you or your workers optimize your working hours.
Final Words
There are plenty of reasons to integrate AI into your business operations. It can improve customer service provision, streamline marketing campaigns, help translate legal jargon, and increase employee efficiency.
Click the link in the introduction section to find out how ITIN loans can help acquire AI solutions for your small business.
Infographic created by Donnelley Financial Solutions, an ESG data management company
