(This story was originally published in The Elevator in June, 2022.)

Without knowing it, most everyone has interacted with Artificial Intelligence in some way. It could be as simple as using chatbots to aid your shopping experience, or could go so deep that a company used AI to put you in a pool of candidates for an employment opportunity. 

Artificial intelligence has changed the way businesses are run. Efficiency is key when it comes to running a business, and AI has unlocked a new level of productivity in all facets of it.

 “Artificial intelligence is the future,” said Rick Stanbridge, chief information officer of Marco’s Pizza in an article by Jacqueline Medina. “It will become a mainstream element of enterprise-level and cloud technology platforms along with machine learning. The companies that will succeed will be the ones that are able to balance the value of AI with the value of ‘human’ resources, connections and interactions.” 

In a world where industries expand and invent quickly, the future of Artificial Intelligence and its benefit to businesses seems very bright.

Customer Service

The most common AI that people interact with is Chatbots. Chatbots are useful customer service tools where if a person has a question while on a company’s website, they can ask the Chatbot which has programmed responses that adapt so intelligently, it can be like interacting with a real customer service employee.

Jacqueline Medina, A contributor that mainly writes about business development for The US Chamber Of Commerce said,  “Chatbots are set up using existing resources (like FAQs) and scripted responses to deliver the most appropriate response to a human user’s query. The more chatbots are used (and given feedback by customers), the better and more efficiently they’ll perform.”

When Chatbots intelligence limits are reached, they have the ability to point you in the right direction of where to find help. They give businesses the freedom to step away from constant small customer service questions and to focus on the bigger facets of running a business.

Another advantage that AI gives customer service is employee training. New AI has been developed to give employees experience in customer service. 

Josh Streets is the CEO of Scoreboard Group Consulting, a problem solving company. In an article he wrote for techtarget.com he said, “With AI taking the role of the customer, new agents can test out dozens of possible scenarios and practice their responses with natural counterparts to ensure that they’re ready to support any issue a user or customer may have.”

Hiring

Finding the right person to hire is hard. According to ideal.com, “52% of talent acquisition leaders say the hardest part of recruitment is identifying the right candidates from a large applicant pool.” 

Companies have found a way to utilize artificial intelligence to help fix this problem. AI can weed through a large pool of applicants to select the few applicants that are right for the companies.

As a business owner, consultant, and personal leadership life coach, Sahar Andrade has researched and utilized AI in hiring. In an article written for Forbes Magazine she said, “AI can make recruiting a seamless, smooth action. It can expedite the recruiters’ communications through automated interview confirmation emails, so they have time to actually build relationships with the candidates.”

Another way AI can help businesses hire is inclusivity. “It can also screen and rank candidates faster as well as decrease bias, though it really depends on how it has been programmed and by whom.” Andrade said.

With bias and discrimination being a major issue in America, AI could help contribute to a more diverse, fair hiring process.

Marketing

Artificial Intelligence is becoming an integral part of marketing for large companies. They use AI analytics to plan the best course of action for the business. 

In an interview with Karola Karlson of Content Marketing Institute, the Chief Technology Officer of MindTitan, Marcus Lippus said, “AI-powered systems can help advertisers test out more ad platforms and optimize targeting. That’s exactly what Facebook is doing with their ad delivery optimization.”

Using AI to boost a company’s advertising power can make or break marketing campaigns or even the business itself.

In an article for Forbes magazine, the CEO of a company specializing in marketing called FiveChannels, Jason Hall talked about how AI can “boost the return on investment of marketing campaigns”.  Hall also said that, “Whether you’re engaging in email marketing or providing customer support, AI eliminates much of the guesswork involved in customer interaction.” 

Money

In America, the end all be all of business is money. How can I, the business owner, make as much profit as possible?

Mary Pratt, an award winning journalist, talked about the efficiency and productivity that AI adds to businesses. “The technology handles tasks at a pace and scale that humans can’t match. At the same time, by removing such tasks from human workers’ responsibilities, AI allows those workers to move to higher-value tasks that technology can’t do,” she said. 

Put simply, AI is profit for a business. Whether it comes from efficiency, productivity, or smart advertising, AI can create profit for a business if they utilize it correctly.

Why AI?

Optimization. 

Especially in the current market, small businesses are fighting to stay afloat and large businesses are fighting to stay on top. To do these things, optimizing your time and money is a must.

Chatbots, hiring, advertising, and simply making money are made easier by utilizing AI. 

In a world where plagues, war, and polarization seek to shut businesses down, AI helps to level the playing field and keep businesses strong.