How Using AI Applications Can Benefit A Small Business
For many small business owners, implementing artificial intelligence (AI) can seem like a daunting challenge. It’s easy to dismiss AI as a complicated and slightly alien tool that only computer scientists and other experts at big tech companies can use and understand, but this attitude is wrong. There are actually many ways small businesses can take advantage of AI right now.
While often mythologized in popular culture and treated as a uniquely disruptive economic force, AI is much like any other technology. As more and more companies have developed AI applications, competition and adoption rates have increased, driving down costs and making AI accessible to a much broader range of businesses. Small businesses account for more than half of net job creation and more than 40% of GDP in the United States. Artificial intelligence development companies in USA want their products to be available to the entrepreneurs who power this huge engine of economic activity.
As AI becomes more popular with businesses of all sizes, it will become even more important for your small business to take advantage of what this revolutionary technology has to offer. Here are five ways to do just that.
Driving cybersecurity:
An increase in digital information, from customers and companies, requires greater digital security. Cybersecurity AI works by reviewing behavioral patterns in a company’s software, applications, and stored information. By interpreting what employees and customers do with digital tools and how they do it, AI can recognize things that are relevant and acceptable: links, emails, information inputs, and time ranges for tasks. If something is out of typical patterns (i.e. an employee clicks on an unknown link in an email), AI reacts to quickly remediate or remove the threat.
It’s important to know that malware is created using its own AI-guided programs, so investing in strong cybersecurity is a valuable way to ensure business longevity and customer trust.
Improving customer service:
For an affordable way to save on employee costs and maximize availability for customers, businesses can use chatbots. These Artificial Intelligence services in Texas or plugins can exist on a company’s website or app 24/7, providing unlimited opportunities for customer engagement. Chatbots are configured using existing resources (such as FAQs) and programmed responses to provide the most appropriate response to a human user’s query. The more chatbots are used (and customers get feedback), the better and more efficiently they will work.
Depending on your business needs, chatbots can perform many tasks, from troubleshooting to starting conversations with potential customers. However, if a customer’s needs are too complex, the chatbot can recommend and orchestrate human interaction.
Fraud detection:
Fraud continues to lose staggering amounts of money to businesses around the world, with smaller organizations being hit particularly hard. Behind every fraud is a brilliant set of technologies. It counts For McAfee, cybercrime currently costs the global economy some $600 billion, or 0.8% of the world’s gross domestic product.
With the help of machine learning, Data science development companies in Chantilly can create algorithms by discovering and matching patterns in large volumes of data to effectively detect transactions that have a high probability of being fraudulent. Performing thousands of calculations in a matter of milliseconds to detect suspicious behavior that goes unnoticed by the naked eye and uncover previously observed fraud patterns across billions of accounts exponentially increases the prospects for fraud detection. In addition, the application of artificial intelligence will make fraud detection much faster and more scalable.
Workplace Transformation:
AI is a boon to the way modern businesses communicate and operate in their offices. Whether it’s hiring new candidates or eliminating repetitive administrative tasks, AI means productivity. Bots are being used in the workplace to match candidates to jobs and communicate with them, at least at the first screening stage.
Also, allow candidates to schedule their own interview at a time that works best for them and reschedule interviews if necessary. There are bots for scheduling and recording meetings, automatically responding to emails, guiding new hires through training, and analysing performance.
With the help of the Best machine learning company in USA, you don’t need to scroll through calendars to find a date and schedule meetings or create manual reports or answer the same repetitive questions day after day. Also, use these tools to gather employee feedback and concerns for healthy and happy workplace culture. With AI, you get more time to work on what matters and innovate!
Stronger sales:
You can’t talk about marketing without talking about its twin brother, sales. Like two peas in a pod, it is difficult to separate these business areas because there is so much overlap between them.
The use of artificial intelligence as a way to increase sales is also a mature concept that goes hand in hand with AI for marketing. So it’s another great way to get into the world of AI without feeling overwhelmed.
Depending on the nature of your business, you may or may not have a dedicated sales team, so we’ll cover both scenarios in the next two points.
Expand your team with a chatbot:
For those who don’t have a dedicated sales team, don’t worry, there are plenty of tools for you too. For example, one popular sales tool is something you’re probably already familiar with: chatbots, those pop-ups that appear when you first land on a web page.
If you have a website, incorporating a chatbot is a great idea. Think about it, it’s like having an employee working 24/7. It is also a communication platform that many customers prefer: 53% of customers prefer to use online chat before calling a company. With software like WhosOn, your customers get immediate answers.
Factors that determine the cost of artificial intelligence:
While you can determine your AI requirements before meeting with a Deep learning company in Frisco, contractors, or data scientists, it’s always helpful to consider additional factors that may alter cost or make or break your AI solutions.
An AI application demands data, fast response, and high performance to process algorithms and build a meaningful foundation by continuously learning from the input. What you look for in an AI solution also influences the total Cost of AI Apps. Furthermore, the cost also depends on the data format, storage, type of structure, the accuracy of predictions, data visualization, dashboard, and more. In addition to this, some other factors that can lead to additional costs are technology, design, security, speed, and the number of customizations.
Platform integrations with CI/CD, external services and managed services, architecture development, testing, security operations, training machine algorithms also take time, therefore time is also of the essence to be considered in the overall cost of your AI project.
Choosing a pre-built solution or third-party AI software, such as a chatbot to integrate with a CRM, will have a fixed cost or plan in the range of $0 to $35,000, while a custom AI solution could cost between $25,000 and $500,000. Solution.
As an artificial intelligence development company in Virginia, USM Business Systems enables your business to deliver a great customer experience and become smarter by implementing artificial intelligence in your products and business operations. Our artificial development services include the creation of BI solutions, NLP-based applications, computer vision applications, voice assistants, and chatbots.
About the Author
I am a passionate content writer and blogger who has written a number of blogs for mobile app development. Being in the blogging world for the past 3 years, I am currently contributing tech-laden articles and blogs regularly to USM Systems. I have a competent knowledge of the latest market trends in mobile and web applications and express myself as a huge fan of technology.
