We hear so much about Artificial Intelligence (AI) and what it can do, as well as cautions about it. But how can it help your business run more efficiently as well as deliver amazing results in customer service? Read on to learn more about harnessing the power of AI for your small-to-medium-sized business.
A Brief Summary of Artificial Intelligence
Artificial intelligence, or AI, is an enabling technology made possible by machine learning. Machine learning is the process of teaching machines how to react to different data types, based on probabilities. Large language models (LLMs) are trained on huge amounts of data, which makes them able to understand and generate language and other types of content, performing a wide variety of tasks. The data is fed into these models from humans, and this plays a role in the quality of data.
Business Applications of Artificial Intelligence
Because it is trained on vast amounts of data, AI has the power to automate repeated processes, freeing up time for humans and labor cost for your company. Employees can focus on other tasks while AI works in the background. It has potential to be embedded in customer relationship management software, and to find information about customers based on past interaction. That way, customer service representatives can have the information at their fingertips and serve customers even more quickly. Even outside business hours, your company can continue to serve customers with chatbots that mimic human-to-human interaction. Data analysis is more rapid, and this has implications for cybersecurity. Trained on data from network traffic, AI can quickly detect suspicious activity and help avert a cyber attack. The technology could even provide information that leads to new markets and revenue streams.
Considerations for Using AI in Your Business
Artificial intelligence is an amazing powerhouse, no doubt about it. However, a business needs to decide how the technology will help reach business goals. If you are a small business looking for quicker data analysis to enhance cybersecurity, for example, AI-enabled technology is a good choice. For communications with customers and within the office, AI can help generate and summarize content–once again saving time.
Since AI’s results are only as good as the data training the algorithms, care needs to be taken to evaluate the content, making sure it’s as bias-free and accurate as possible. Moreover, it shouldn’t contain any personally identifiable information, data which can be traced to an individual. Compliance and regulatory issues may come into play, too. Your company may need to overcome resistance from some workers who might fear losing their jobs to artificial intelligence. You will likely need to take time to educate and train workers to see AI as a valuable tool and to use it to best advantage.
Artificial intelligence has many money- and time-saving ways to help your business. For more information, contact your trusted technology advisor today.