At the heart of business operations, regardless of the industry in which the business operates, can adopt artificial intelligence (AI) to fill the gap. For instance, businesses need to know which customers will buy what products. They also need to know who is the best fit among the sea of applicants, as well as how to bring down business costs.
Large corporations have found numerous ways to use artificial intelligence metrics and incorporate AI into their workflow and operations. Consumer goods corporations employ AI for hiring and onboarding purposes. Ecommerce companies are adopting AI through the use of chatbots to respond to user and seller queries. In supply chain management, companies are learning how AI can create more value and efficiency.
If you’re still wondering how your own business can find useful ways to integrate AI into your operations and workflow systems, then read on and get some ideas based on actual business practices and uses of AI.
Here are five ways that businesses can adopt Artificial Intelligence(AI):
1. Automation Of Repetitive Tasks
One of the early ways AI was applied to business operations was through automation.
In any business setting, there are many tasks that are being done again and again and again. They’re called repetitive tasks. For instance, in a data processing company, there are components of the process that are repetitive in nature, such as encoding, formatting, styling, and proofreading. These tasks are examples of how businesses can incorporate AI into their operations.
The foundation of AI is based on the use of existing or previous data, and training the software or machine to make decisions based on how decisions were made in the past using existing data. For instance, a hardware trading company can use AI to make orders for inventory based on what items were sold. It can do this by inputting the previous sales and the corresponding inventory items ordered. Based on this, it can train AI to decide what to buy.
2. Data Analytics For Product Recommendation
Another way businesses can adopt Artificial Intelligence(AI) is through advertising and marketing campaigns. It’s very likely that you’ve already experienced this while browsing your social media apps or other applications.
A sudden pop-up ad features a product, making you think hard because the featured product is something you’ve been thinking of buying. You’ve even mentioned it in a chat with a friend or posted it in a comment.
This is how powerful AI applications in advertising and marketing can be. Apps can harness the way you use them, what you click, what you post and share, and even what you chat in their messaging services.
They can collate everything you say and do, and use AI to predict whether or not you’re interested in buying a certain product. For instance, if you’ve been reading articles or searching about dishwashing liquid, then they’ll push ads of similar products to you through pop-ups or running banners.
3. Recruitment And Hiring
Businesses can also employ AI to streamline their recruitment and hiring processes. Much of what human resource (HR) departments do in the recruitment, testing, selection, and hiring processes are repetitive. They can be digested into tasks, which AI can interpret and execute.
For example, some of the most tedious tasks of HR are receiving, collecting, collating, sorting, sifting, and evaluating applications. All of these tasks can be done by AI software. All that needs to be done is to create an algorithm, which will decide what to do with an application based on the initial resume evaluation.
The algorithm will extract the educational background, skills, and experiences of the candidate, and then compare these with those in the job description. If there’s a match, the application will go forward. If there’s none, the information will be compared with other job openings, and the candidate will be asked if they would be interested.
4. Customer Service Chatbots
The use of AI and chatbots in search engines and apps has been increasing in recent years. More e-commerce sites and companies in other industries are realizing the usefulness and benefits of having automated chatbots, which act as front liners in customer service. This function used to be done by a third party or outsourced contact centers, which afforded a lot of savings because of the lower labor costs in third world countries.
Recently, however, with the introduction and development of chatbots, more and more companies are realizing that they can save more money, harness their databases and user profiles more powerfully, as well as manage their customer relationship and customer service departments more efficiently and at a much higher level than what contact centers could ever achieve.
5. Retooling Your Business
If you want your business to stay competitive and apace with the latest trends and developments, then you might want to seriously consider how businesses have been adopting AI into their workflows and operations. You don’t have to invent processes where none exist yet just for the sake of innovation. Most businesses identify specific tasks, which are already handled by AI, and then adopt the same practices.