Christian DesLauriers on How Artificial Intelligence Can Help Your Start-Up Business
Artificial intelligence (often referred to simply as AI) refers to the cutting-edge technology being used to design highly intelligent machines. As they develop further, these intelligent machines have begun to work alongside and react much like their human counterparts. These days, many tasks previously thought to require human intelligence (speech recognition, decision-making, and language translation) are being tackled instead by high-tech computer systems. While the advancements in AI technology are promising in many ways, they are especially exciting for those running or launching start-up businesses.
As the founder of your company your time is priceless. With so many responsibilities, it is more lucrative for you (and your company as a whole) if your time and energy is reserved for tasks which require your talents and authority. All too often, companies suffer as their key players are tied up with mundane tasks like bookkeeping, record tracking, data collection, customer service and other routine chores that could otherwise be performed by an AI.
Improvement of the Customer Experience
The capabilities that AI brings to the table are not just beneficial for the company, they also add advantages for consumers. For many small companies, the implementation of AI means the ability to increase customer support. With its help, it’s not just industry giants who are able to provide extensive customer support systems. Now, small companies that couldn’t otherwise afford around-the-clock labor are able to implement AI to deliver 24-hour phone lines and chat services for an overall improved consumer experience.
Reduced Labor Costs
The flip side of using an AI system for aspects like customer support is that it can drastically cut your labor costs. Especially if your company is young, you probably do not have the funding to hire an extensive number of employees to complete basic tasks. AI variations like those used to run customer helplines and chat services help to reduce the amount of funds that other businesses sink into labor, which lowers costs and raises profit.
Better Data Collection and Analysis
It is not just time-consuming to collect and analyze data; the blatant truth of the matter is that the human brain is prone to error and often simply not as good at collecting data and analyzing it. Because artificial intelligence is exactly that — artificial, it never experiences the bouts of distraction that the human brain must conquer when dealing with repetitive or tedious tasks. In short, AI makes error-free data collection and analysis a possibility, which expedites and improves results.
When it comes to AI the sky is the limit. As technology advances, the capabilities of intelligent computer systems continue to expand. Each year, these smart machines can execute increasingly impressive tasks. As AIs develop more skills, more and more young companies are discovering how its implementation can improve business services, lower overhead costs, and decision making. If you have not considered implementing AI into the operation of your start-up, there’s a pretty good chance you are missing out.