Business Plans

How any Brand or Company can Utilize AI in the New Year

I’ve been exploring the possibility of incorporating the Salesforce Customer Relationship Management system into my business, and one of the main reasons is because of its artificial intelligence (AI) capabilities, also known as Salesforce Einstein. The technology helps give better insights into your business with features like lead scoring and forecasting. Artificial intelligence is all around us, and it’s probably a lot more accessible than you think.

From simple tasks (like scheduling) to more complex things (like assistance with writing legal contracts), machine learning algorithms are revolutionizing many business processes. Technology is an ever-changing beast which has continued to make daily life easier to manage and navigate. This extends to the business world as well, especially with the recent developments of artificial intelligence or AI as it is more commonly referred to.

Simply put, AI technology has the ability to do things that would usually need a human being to put it. In many cases, it also has the ability to learn even more about a task or subject as it continues to spend time on a topic.

In a corporate setting, having access to this technology can provide boosts of efficiency or minimize the amount of mistakes. Seeing as the technology is constantly evolving, the range of impact that AI has will only continue to spread making running a business even easier and more productive. Alphabet Inc. CEO Sundar Pichai put it best, “For me, it matters that we drive technology as an equalizing force, as an enabler for everyone around the world.”

With numerous avenues of AI technology available to resources from, we thought it would be best to connect with business executives for their opinion on how any brand or company can utilize AI in the new year.

Sales

Brett Sohns is the founder of LifeGoal Investments, a solution to investing and life planning for anyone regardless of their budget. He believes that the use of AI technology when paired with a sales division can positively influence any company.

“Traditional sales will never die as consumers deeply appreciate the personal touch and information that comes with interacting with a salesman. However, AI technology continues to simplify the job of a salesman. Computers now have the ability to perform deep data analysis, forecast potential sales, anticipate demand, streamline sales and even communicate more clearly. Corporate and consumer data plays a huge role in the day-to-day work of a salesman and AI technology has brought us to the point where we no longer require a dedicated person to sift through all the numbers to uncover the necessary information.”

Marketing

BoxGenie allows you to create customized and personalized branded boxes. Their COO, Jim Beard, suggests using AI will allow companies to take their marketing efforts to the next level.

“The beauty of AI is that it completely removes human thought and emotion from the equation. Instead, it deals strictly with numbers and results. In order to better market to consumers, you must have a profound understanding of their demographic, purchasing habits, and response to types of marketing. When you see what makes a consumer tick, you can adjust your marketing campaigns to better suit these behaviors and in turn receive the growth you’re looking to achieve. Not only does AI make this process more effective, the technology behind it has advanced to a point where it is extremely time efficient.”

Operations

As stated previously, AI technology has a widespread reach in the corporate world. This includes things such as hiring and managing employees. Kevin Miller, who has started his own marketing consulting company for direct-to-consumer and technology companies, advises others to employ AI technology geared towards increasing in-house operations.

“Even the most productive and well-managed companies could use the boost that AI offers. In general, the hiring process can be a very jumbled experience as the number of applicants can be overwhelming. AI can evaluate more potential hires deeper than what humans are capable of which will likely yield an even higher quality hire. Hiring aside, it can also be used to understand where your employees are at mentally regarding a company as well as evaluating individual performance. Tools like this are great for bridging relational gaps and engaging more with these people. The goal here is to create a more inclusive and productive workplace.”

IT Solutions

Rachel Blank is the founder and CEO of Allara, a virtual healthcare company focusing on assisting women with polycystic ovary syndrome. She believes that AI technology can be incredibly useful for improving corporate computer systems.

“Many IT departments never stop moving because of the number of demands and projects that are constantly on their plates. Between managing networks and filesystems, installing new end devices, and fixing user or technological errors. AI provides solutions for all of this. It can detect server or end point errors or even anticipate them to prevent outages. Scheduling installations of devices can also be accomplished. Furthermore, AI has the ability to detect inefficiencies within a network or system and offer potential solutions to this.”

Supply Chain

Hightouch is a data solution platform used to sync customer information between a variety of business tools. Their founder and CEO, Kanish Gupta, considers AI supply chain technology to be one of the more impactful additions to a company.

“Much of the productivity of any business is dictated by its supply chain. As any good manager knows, managing a supply chain requires a vast amount of attention to detail and innovation. By bringing AI into the mix, both of these requirements can become much more attainable. Some of the benefits include knowing when is the best time to order products or when they will be needed. AI can also help with inventory management. All of these will result in reduced costs.”

Research and Development

Arguably the biggest strength of AI is its ability to quickly process and output numbers in a manner which is digestible and applicable. Seeing as understanding a consumer is one of the goals of research and development, these two things go hand in hand. Ryan Rockefeller is the co-founder and CEO of Cleared, an online clinic specializing in allergy treatment. He suggests pairing AI with research and development in order to make the most of a company’s time.

“R and D is a staple for most companies whether they’re seeking to create a new product, change a current one, or gain more knowledge of their clientele. Implementing AI in this area can bring massive results as the systems can now go above and beyond what humans are capable of in the same time span. Essentially, the computer is helping a team in the discovery process and seeing as it has vast knowledge, there’s no better tool.”

Customer Service

George Fraguio is the Vice President of Vaster, a service that offers faster, reliable, and more flexible mortgage solutions to address the unique needs of any client and financing scenario. He advises every company to take a look at what is possible in customer service using AI.

“It’s often the case that people want help or questions asked but they don’t want to pick up the phone to make a call. This is where AI chatbots come into play. These bots can be easily added to websites or apps and they are usually made available for 24 hours a day which the customer views as a great benefit. On top of this, the bots learn as they go so over time they become even more helpful.”

Maintenance

The Brothers Apothecary is a CBD brand featuring a wide selection of CBD teas and superfoods. Their CEO, Jesse Richardson, believes that the automation of repairs or scheduling or them can be a huge weight off a company’s shoulders.

“Some corporations are in the business of repairs and maintenance and others require it due to the machinery they utilize or the building they reside in. Whatever the case is, taking care of these things is of the utmost importance. AI technology provides the ability to control specific systems such as the lighting, furnace, or A/C. It can create schedules of when parts need to be ordered or replaced as well. The goal here is to not waste money on systems when they’re not needed while also keeping everything up to date.”

Security

Protecting both the technology and physical environment of a workplace is of the utmost importance. AI also has the ability asset in this area. Jean Gregoire is the founder and CEO of Lovebox

, a company featuring a messaging device that allows loved ones to connect over long distances. He considers AI security to be fundamental at this point.

“The power that AI has in the realm of security has continued to push traditional security officers out the door. The technology exists for the monitoring of hundreds of physical cameras and assessing threats seen on screen. AI also has a marked presence within cyber security. It can easily analyze systems for weak points as well as detect any intruders or unauthorized changes in a system. Using AI for security purposes should provide the ultimate peace of mind.”

Safety

Matt Miller is the founder and CEO of Embroker, a company specializing in straightforward business insurance. He suggests utilizing AI for safety measures.

“It’s incredibly important to make sure that your employees are safe and healthy as they work. AI can ensure that all safety protocols are being monitored and your people are not being overworked. If you’re in an industry where work conditions can change due to the environment or equipment being used such as welding or farming, it can also monitor potential dangers for these things as well.”

Even though AI technology has been developed recently, it has proven to be more than effective in diverse ways. Advancement is a necessity in business and these types of technologies can accelerate this process. Katherine Kostereva, the founder and CEO at Creatio, spoke to this, “Don’t be fooled by some of the digital transformation buzz out there, digital transformation is a business discipline or company philosophy, not a project.”

Innov8tiv.com

Innov8tiv is a dynamic Web source for technology news, resources and innovation, with a special focus on the entrepreneurial advances of Africans on the continent as well as in the Diaspora. This site seeks to not only inform consumers and companies about the latest in tech trends and ideologies, but to shed light on a phenomenon often ignored: the inventive, life-changing and creative engine that exists in Africa and among leaders of color around the world, including the UK, the Caribbean, Australia, and Asia. Send story ideas to info@innov8tiv.com

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