Business objectives are the specific and measurable goals you want to reach as your company operates and grows. Artificial intelligence (AI) is a rapidly advancing and readily available technology that can help you set and meet these aims. Here’s how.
1. It Can Spot Trends in Data
One significant way that AI can strengthen your business is it can find patterns you’d otherwise miss. Maybe one of your goals is to extend the average amount of time people spend on your website. AI can analyze information to determine how many pages a person typically visits before leaving and how much time they spend on each one. Solutions exist that provide custom content to visitors based on their browsing habits, too.
Some businesses also use AI to predict future trends. For example, a platform might show that certain seasons may cause spikes in demand, or that people may be more likely to support a company in certain regions. Learning those things can lead to better decision-making because it removes much of the uncertainty associated with relying on gut instinct or experience alone.
2. It Can Automate Processes and Reduce Mistakes
An AI platform could also address problems that prevent you from advancing your business. Perhaps one of your objectives relates to better efficiency in a particular department where staff members spend most of their time engaged in time-intensive, manual processes. AI is not foolproof, but it can go a long way in boosting productivity through automation.
As your company develops a successful AI strategy, people at the organization must evaluate a wide variety of factors for the best results. For example, which of your existing processes is most suitable for artificial intelligence? The technology generally works best with repetitive tasks instead of complex ones. That may mean you’ll need to look at data entry processes and decide which steps to automate. AI does not take humans out of the picture. It enhances their output when used well.
3. It Can Bolster Customer Support Efforts
Regardless of the kind of business you have, many of your business objectives probably relate to customer interactions. Keeping people happy is one of the most effective ways to increase the chances of them giving you repeat business and recommending your enterprise to individuals they know. One of the most common ways to use AI to help customers is to invest in a chatbot. That approach lets you maintain professionalism while reducing the monotony of repetitive queries.
You can also apply chatbot-related AI when setting goals. Most platforms answer the most common questions, then give people the option of talking to a representative if desired. You could dig into the chatbot metrics and see how many users decide to speak to humans. Then, investigate how you could provide improved self-service information to give them help faster.
4. It Can Help Achieve Transformational Effects
Many people initially become interested in AI for single-use cases. They later realize that taking the time to get educated and trained about AI’s potential can let them apply metrics and insights across numerous departments rather than only using it for the intended purpose they developed first. According to imanage.com customers are typically better-equipped to succeed when they learn to apply the technology to their data.
If you already have a clear idea about how you’ll use AI to make progress with business objectives, that’s great. However, it’s ideal if you avoid rushing to use the technology for that reason alone. Take your time to see how you might apply AI in ways you didn’t immediately consider — and ask for expert help if needed. Doing that is an excellent way to get everyone on board at your company and help them realize the technology could take the enterprise to new heights.
5. It Can Help Companies Succeed Despite Having Smaller Teams
Members of the workforce in various industries worry about AI taking over their jobs. That’s an understandable fear, but not a realistic one for many of today’s professionals. That’s because most AI products still require humans to help with parts of the process. For example, one AI web design product called The Grid tackles the foundational components of a site in minutes.
That increased efficiency gives people time to focus on the more complex aspects of a site. They could also add elements that tech alone may struggle with, such as those that evoke emotion. The point is not to view AI as a replacement for your talented team members. What you can do is investigate how AI could tie into the business objectives that are exceptionally challenging to meet due to a lack of human resources.
6. It Can Help Companies Scale Up
Maybe your company is in a growth phase now, or some of your business objectives center on scaling up over the next several months. If so, AI could enable your enterprise to meet the demands associated with getting bigger or catering to customers in different ways. The AI tool you choose might automate parts of order processing or delivery or even assist your human resources department with hiring more team members.
Bringing AI to your organization may require a shift toward more willingness to change. If people have misconceptions about what AI can’t — or will — do, they may resist using it. In that case, even the most advanced tool may not overcome employees’ pushback. AI can propel companies toward their objectives when representatives investigate how the technology could help people show their creativity and other skills algorithms haven’t mastered.
7. Maintain a Balanced Perspective
AI is not magic, but it could help many companies conquer some of the challenges hindering their business objectives. The discussion here gives you broad ideas of how you might apply AI to set or meet metrics that directly impact your goals. Giving yourself time to do further research before investing in AI will provide you with a clearer understanding of its capabilities and ways your business might take advantage of them.