The market for artificial intelligence has been growing by leaps and bounds. Some predict it will be worth almost $400 billion in the next few years.
Still, you might think AI solutions are for the big players in your industry. Any business can benefit from investing in AI, though. In fact, investing in it for your startup could give you the competitive edge you need.
What advantages can AI deliver for your business? You might be surprised.
AI Solutions Help You Find Your Customers
One of the emerging roles for AI in business is identifying customers and helping you reach them. This is particularly useful for a startup, since you may not know who your audience is or where you can find them.
How does AI help? It takes the data you’re collecting from your operations and identifies patterns in it. You can then see who is buying your product, clicking on your ads, or interacting with your posts.
Machine Learning Makes Marketing Smarter
AI’s usefulness in reaching your audience doesn’t stop with identifying audiences. Machine learning marketing can help you get the message to those people too.
AI can be used to actually deliver your advertising to interested customers too. With machine learning powering it, the AI can keep improving its ad buys. In turn, your advertising efforts arrive on the screens of people who are actually searching for your products.
Machine learning uses the data from every ad placement to inform and update the AI’s buys. In short, the AI learns what works and what doesn’t. Then it buys more of what’s working and less of what’s not.
Delivering Better Customer Service
AI can also help you serve the customers you do have. If you’re running a startup, you may have a very small team. Everyone may already be wearing plenty of hats, and their plates are full.
In addition, startup teams are sometimes focused on the operations. If your specialty is app development, you may not be the right person to help an upset customer get a refund. Your time is best spent on improving the app or creating a new one.
AI helps here because it powers customer service solutions like chatbots. They’re available when your team can’t be, and they can help answer some of your customers’ most common questions.
Chatbots are also powered by machine learning, which means they improve with time. As your chatbot interacts with your customers over time, it will learn the best answers and the ways to help.
AI can help deliver better customer experiences in a few other ways too. As it responds to customer input, it can customize the customer experience on a website. AI may also help you segment your email lists and deliver the deals each customer wants.
Understand Your Business with AI Insights
Finally, AI can help you understand your business itself. Machine learning can help you automate processes and make them smarter. Data analysis can show you trends that can streamline operations or help you cut costs.
Machine learning consulting can help you see where AI fit into your processes. It can even help you identify the best way to adopt these processes.
Powering Next Gen Startups
AI solutions aren’t for the big players anymore. Today’s startups can benefit enormously from incorporating AI from the start.
Looking for more on the latest tech trends for startups? You’re in the right place. Stay up to date with all the latest trends for powering your business to a brighter tomorrow.