The global AI market is worth $100 million today and is expected to reach $2 trillion by 2030. Hard to believe, right? But this is true. AI is being adopted very fast, and more than 66% of companies are already using or planning to implement it.
That said, artificial intelligence is impacting pretty much every key industry, such as banking, finance, SaaS, healthcare, retail, manufacturing, marketing, and the list goes. Well, not only impacting, but AI is streamlining the majority of repetitive operations in every industry.
But what are those operations? How can artificial intelligence improve how businesses are already performing? The following are some of the ways.
Human Resource Management
AI can be used in human resource management to automate and streamline two types of tasks: resume screening and employee training.
Instead of manually reviewing candidate applications, the HR team can use AI tools to sort out and identify qualified candidates for a job. This is done based on predefined criteria, such as skills, experience, education, and keywords that match the job description.
Example of AI-based Tools to Streamline Hiring Process:
In addition, AI can analyze data based on each employee’s skills and preferences and can recommend training data accordingly as per the pre-set goals. From training to promoting employees, artificial intelligence can help the HR team to make informed decisions.
The reason for using a tool for this purpose is simple: AI better analyses data to make efficient training and promotional recommendations without making any errors.
Example of AI Chatbots for Analyzing Employees’ Data:
Content Creation
More than 69% of digital marketers use generative AI, particularly for content creation. After all, why shouldn’t they use it when it can save content production costs by up to 90%?
AI can help you at every step of creating content. Whether you want to ideate an outline for your blog post, write an introduction, craft body content, or write a conclusion, there are tools that can do all this in one go or each task separately.
Take Outline Generator as an example, which is perfect to use to ideate the outline for an article or blog post. Paste your topic into the text input box along with the points to include in the content. The tool will provide you with a detailed outline, like this:
Remember, generative AI can do more than only write website content; it can produce high-quality marketing content, such as social media posts, email campaigns, ad copies, etc. It can even write product descriptions for eCommerce businesses.
In addition, marketers can use this technology to produce images, visuals, graphics, and even videos, too. While there is a need to hire professional graphics designers for this job, AI eliminates this need and saves businesses a lot of costs and time.
Example of AI Tools for Content Creation:
Data Analysis and Insights
Another most prominent application of generative AI is data analysis to provide insights and innovation. Artificial intelligence algorithms can analyze large data sets of big corporations to identify any patterns and trends.
Other than that, this technology can make predictions based on the data. It helps organizations figure out the market dynamics, customer behavior, future trends, and outcomes to make informed decisions about their company, products, and services.
Implementing AI to analyze data helps organization plan what to do ahead. This way, they can stay ahead of the competition by anticipating market changes and consumer needs.
Example of AI-based Chatbots for Customer Services:
- AnswerRocket
- Bardeen.ai
- IBM Watson Assistant (consider replacing Cognos Analytics)
- Qlik (Qlik Sense)
Customer Support
Have you ever asked something from customer support and received an immediate response? The response behind that response was AI, not a real human. Yes, you heard right.
While humans can take a couple of minutes or even more time to reply to a customer, AI is trained to respond in seconds. AI-powered chatbots and virtual assistants can handle customer inquiries, provide support, and even resolve issues 24/7.
In addition, artificial intelligence can go through the previous user’s conversations, data, and interactions to recommend personalized solutions and answers.
Instead of hiring a big team of customer service persons, businesses can employ AI chatbots and virtual assistants to answer simple to complex queries. However, combining AI with a human touch is recommended for efficient customer service.
Example of AI-based Chatbots for Customer Services:
Hyper-Personalization
Hyper-personalized marketing is the ultimate goal of data-driven marketing. It involves using AI and advanced analytics to create marketing campaigns and experiences that are customized to each individual customer.
Artificial intelligence analyzes data about different customer segments (or even each customer), such as behavior patterns, preferences, purchase history, and infographics.
Then, AI is used to develop highly targeted campaigns based on these insights, whether it is a message, email, ad, or social media post.
E-commerce stores can use this feature to recommend products based on a customer’s browsing history, purchase history, and preferences. This even enables real-time adjustments as per customer interactions.
Example of AI Tools for Hyper-Personalization:
Conclusion
Generative AI automates repetitive tasks and streamlines a few to increase a business’s performance. Whether it is customer support, HR management, content creation, data analyses, or hyper-personalization, this technology plays a key role.
For customer support, there are AI-powered chatbots that provide instant responses and handle inquiries 24/7 without any human intervention. This technology can even handle HR management tasks, such as resume screening and training employees.
In addition, AI can create high-quality marketing content, social media posts, product descriptions, blog posts, and more for a business. It can even analyze data and identify future trends so you can make informed business decisions.
Lastly, AI enables hyper-personalized marketing. How? It does so by analyzing the customer data first. After that, it creates custom ad campaigns and suggests well-suited products to the customers to improve overall engagement and sales.
