How to Use AI for Small Businesses

Artificial Intelligence (AI) is a new technology that different industries have adopted to increase efficiency and production capacity. Some people know it as machine learning. About 29 percent of chief executive officers from medium and small businesses believe that AI will impact enterprises soon, according to a survey done by Vintage. The following are four ways that small businesses can use artificial intelligence.

1. Coach Your Sales Executives Using Advanced Tools

Many small businesses rely on their sales executives to generate revenue. So, it is important to train your team using the right tools. Chorus, Jog, and Gong are new artificial intelligence tools that you can use in your enterprise. They transcribe and record each call that a sales representative receives.

The tools then compare strategies that the sales executive applies to those which top sales team members in your business use. AI tools analyze different strategies based on the ratio of time sales representatives spend talking or by word choice. The tools allow you to share efficient strategies with the whole sales team without making a detailed review.

2. Integrate an AI-Infused CRM to Improve Sales and Marketing

Customer-Relationship Management (CRM) systems collect customer data from social media, phone calls, and emails to automate or improve sales. Salesforce has started using AI to enable small business owners to review client feedback from different communication channels. The analysis helps them in improving lead generation and marketing in their businesses. An AI-infused CRM increases lead generation results and allows you to optimize your client acquisition process through sales-relevant insights.

3. Use a Chatbot to Answer Clients’ Questions

Small businesses including casinos have started integrating artificial intelligence in their systems. As AI shapes online roulette, casinos use chatbots to facilitate smooth customer communication. They resemble customer service representatives who offer unlimited customer support. At times, popups appear at the bottom of your screen when you visit particular websites. Even so, some small businesses lack a dedicated sales team. They can use chatbots to address clients’ needs and assign crucial tasks to their employees.

4. Conduct Analysis Using Artificial Intelligence

Analysis is one of the most vital operations in all businesses. Investors can use AI to perform predictive analysis in small businesses. Analysis is appropriate if you lack the financial capability to invest in machine learning. The following AI-powered analytics software efficiently analyze operations in businesses:

  • Amazon Machine Learning: The service offers tools for developing machine learning models. Amazon Machine Learning has easy analytics and small business owners can connect it to data kept in Amazon S3, Redshift, and RDS.
  • Microsoft Onboard: Microsoft’s objective is to empower individuals and organizations using artificial intelligence. Microsoft Onboard is an open-source software framework which competes with Tensorflow and Caffe. It helps businesses scale across many machines.
  • H20: It has open-source and free primary tools. You can download the tools to access the H20 platform. It has an Apache 2.0 license and you can run H20 tools on AWS-powered clusters.

Artificial intelligence will soon have a huge impact on small businesses. Investors can coach sales teams using advanced tools, improve marketing by integrating AI-infused CRMs, use artificial intelligence to conduct analysis, and answer customers’ questions using chatbots. The technology won’t replace employees. Instead, it will improve their efficiency and performance.

How to Use AI for Small Businesses was last updated May 27th, 2020 by Anna Martyushev

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