AI (or Artificial Intelligence) is indispensable to any profitable business. It creates doorways through screens — giving the door-to-door salesman a new face and a greater reach. As Ron Schmelzer (2019) said, “Artificial intelligence is changing the world. It’s impacting almost all aspects of modern life and business.”
Businesses without any social media connection remain under the radar. They lose an exponentially large number of customers who rely on today’s version of word of mouth: online reviews, downloadable apps, and social media platforms. AIs depend recommendations on an individual’s distinct interests — successfully meeting personal needs and wants through systematic algorithms. Hence, leaving out chances of revenue for businesses that do not compete digitally, and raising opportunities for the ones that do.
AI technology affects both entrepreneurs and consumers as it has embedded its use in their daily lives.
Engaging Markets: Given that potential buyers are hooked on their screens, surveying and advertising have become manageable and cost-effective for business owners. AIs produce data instantaneously; providing marketing teams with more time to allocate in developing strategies, and doing what they should essentially do – sparking customer interest, alluring patronage, and eventually making money.
Delivering Convenience: Less cost, keen on quality, and time-efficient — these AI qualities reel everyone in. At half the regular value, services may be offered with the premium standards. The stiff competition in the AI arena benefits users as it performs beyond the norm and innovates procedures constantly to meet the growing demands of the public.
Conjoining Communities: The vast expanse of people are classified, and are encouraged to affiliate with others who share similar engrossment on offered products or services. As these groups’ relationships are strengthened and becomes more involved, businesses they support are guaranteed stability, influence, and endurance in the industry.
Artificial Intelligence is no doubt a product of human ingenuity. In many ways, it has surpassed the yields of blue-collar manpower in sales, but it has not exceeded the sensibility, discernment, and dedication born out of human touch. A juxtaposition of AI and human presence is an effective mix to gratifying the insistence of entrepreneurs and their growing markets. Jeanne Meister reiterates that AI and human intelligence will create a personalized experience (2018).
Thus, it is imperative to entrust businesses with competent individuals who possess practical know-how on technology, continual desire to immerse in its transformation, flexibility to resolve concerns independently and collaboratively, and has a solid support system.
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Contributor: Leah Aducal References: Meister, J. (2019). AI Plus Human Intelligence Is The Future Of Work. [online] Forbes.com. Available at: https://www.forbes.com/sites/jeannemeister/2018/01/11/ai-plus-human-intelligence-is-the-future-of-work/#53ced1302bba [Accessed 15 Aug. 2019]. Schmelzer, R. (2019). How AI Enhances Sales. [online] Forbes.com. Available at: https://www.forbes.com/sites/cognitiveworld/2019/08/02/how-ai-enhances-sales/#3ae2cb412f1c [Accessed 15 Aug.