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Artificial Intelligence and Small Businesses

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How can Artificial Intelligence Help Businesses

As a society, we're are witnessing a flourish of innovation across all industries and professions. Computers are now able to learn as well as figure out patterns and figures that are normally too complex for humans to even understand. In addition to superior technical skills, technology is slowly developing the one thing that separates humans from robots and that is emotions. Researcher in Bangladesh (reference) used keystroke dynamics combines with text-pattern analysis to detect the emotions of users achieving an 87% accuracy. Through effective computing, they are able to diagnose and simulate human emotions so that the software can acclimate to the emotional state of its current user.

The development of new technology does seem great, but how exactly does all of this affect businesses? Specifically small businesses?  The future for both doesn't seem clear but instead of fearing the unknown, recognize that AI tech isn't just for large Fortune 500 companies. That AI can also be utilized by smaller organizations to help employees efficiency and gain a competitive advantage. Here are some ways AI  can benefit you:

Artificial Intelligence can improve marketing campaigns

Artificial Intelligence solutions can let marketers gain a deeper understanding of their customers so that they are able to give them information (through ads) where they are and when they need it the most. This can be done through a creation of detailed consumer profiles that are based on the data that was collected. Building a comprehensive consumer profile allows marketers to collect data with every consumer interaction which can offer useful information such as location, language, interests, and goals.

For example, In 2017, Facebook was able to generate over $12 billion in ad revenue alone. This success was due to the platform's ability to target their desired audience for every existing ad on their database through the use of artificial intelligence (reference).

Artificial Intelligence can help businesses improve customer service

With the help of artificial intelligence, small business leaders are able to understand how their current customer experience is like through the use of AI specialties such as audience segmentation and machine learning.

Traditionally, businesses would collect feedback from by manually sifting through online and offline feedback to find any sort of pattern. However, AI today has developed tools like Monkeylearn that can help analyze feedback and create a list of patterns that be useful. This can be used to help recognize common customer concerns which can be used when developing goals in the future.


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