5 Artificial Intelligence Growth Strategies for Startups

Artificial Intelligence Growth Strategies

Consumers have extremely high expectations of businesses to provide faster and more personalized experiences, which is driving demand for Artificial Intelligence (AI) solutions. As a result, the increased use of AI is propelling growth for a number of firms.

Here are several AI strategies you can implement now to help you scale and grow your business.

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Customer experience automation

Around 90% of consumers value prompt responses and expect a connected experience everytime they interact with a company. As a result, more businesses are investing in smarter solutions to improve customer assistance. One of the simplest ways to accomplish this is to leverage artificial intelligence-powered applications such as chatbots, voice search, and virtual assistants to enhance the client experience. These software tools enable you to respond quickly, operate at a high level of efficiency, create leads, and provide personalisation.

According to a recent study of customer service software companies, several offer many AI-assisted capabilities that eliminate manual duties for customer support representatives and increase efficiency. Indeed, 54% of customers connect with businesses on a daily basis via AI-enabled interactions such as chatbots, digital assistants, facial recognition, and biometric scanners.

We can effectively comprehend customers when we combine AI and ML, or machine learning, for the collection and analysis of social, historical, and behavioral data. Using chatbots to provide personalized real-time assistance to clients enables them to be stationed in high-traffic locations to answer basic queries, offer advise, and aid with purchase placement. Additionally, we may send highly personalized emails by assessing user interests and identifying patterns to offer related information.

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Make data-driven decisions

According to a Gartner report, over 65 percent of decisions made today are more difficult than they were two years ago. Thus, data-driven decisions enable organizations to make more informed marketing decisions and to quantify key performance indicators and metrics based on facts and figures. Around 66% of decision makers report that AI-based solutions assist them in increasing profitability and achieving their objectives.

We can utilize artificial intelligence to examine enormous datasets and assist in making rapid decisions. Additionally, we may leverage AI technologies such as NLP, or Natural Language Processing, to gain a better understanding of how people engage with a company. By utilizing artificial intelligence tools such as chatbots, machine learning, and algorithms, we may have a better understanding of a customer’s pain areas, expectations, and degree of satisfaction. Thus, intelligent assistants powered by AI provide decision-makers with both prescriptive and predictive insights, enabling them to make data-driven decisions more quickly and effectively.

Improve data security

The number of cybersecurity incidents has increased. According to study by Aura, 47% of Americans had a data breach last year. Numerous breaches occurred at businesses and organizations. According to a McKinsey survey, only 16% of firms are adequately prepared to deal with a data breach. This is where artificial intelligence-based technologies are crucial, as they assist information security teams in efficiently reducing breach risk and improving their security posture. These apps are capable of analyzing a variety of events more quickly than people, including employee identity theft, account breach, SSL fraud, and SIP trunk fraud. Additionally, they give automatic protection with VPNs and malware software that scans, detects, and eliminates viruses automatically, as well as spyware that recognizes dangerous behavior that could result in a trojan assault.

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Optimize HR processes

The traditional human resource process typically takes hours or even days to complete. Around 52% of human resource leaders believe that discovering the best individuals from a huge applicant pool is extremely difficult. However, with the development of artificial intelligence, businesses may streamline their hiring process by automating processes such as searching through resumes, phoning applicants, and scheduling interviews to discover the ideal individual. According to a LinkedIn survey, approximately 67 percent of hiring managers said that artificial intelligence saves them time throughout the hiring process. With the use of AI-based software, all that is required is to enter the appropriate set of parameters in order to identify an ideal applicant, and then use AI to sort and filter the list or conduct automated assessments. Additionally, AI can enhance the candidate experience, as AI-based software enables candidates to be updated on their status throughout the evaluation and hiring process.

Automate marketing efforts

Additionally, by improving and automating marketing operations, firms can change their marketing efforts. Content creation, digital campaigns, programmatic advertising, and email marketing are all examples of these responsibilities. Over 44% of marketers today leverage marketing automation systems. Indeed, another 42% intend to utilize it within the next few years. To facilitate growth, AI solutions such as Curata and MarketMuse assist in generating new content ideas and writing and optimizing content for a variety of consumers. Additionally, one’s material can be compared to that of top-ranking content, with recommendations and assistance supplied on how to obtain comparable outcomes.

The management of digital advertising campaigns may be improved by utilizing programmatic advertising to reach a bigger audience base and by utilizing AI solutions such as Albert AI to manage digital advertising campaigns. These artificial intelligence (AI) technologies manage all aspects of digital marketing, including ad buying, prospect segmentation, cross-channel execution, testing, optimization, and analysis.

Additionally, artificial intelligence enables you to optimize your email marketing strategy. It assists you in comprehending and forecasting customer behavior based on their conduct. As a result, you may tailor your emails and ensure the best possible reaction from your subscribers. With an open rate of over 18% for personalized emails generated by AI, employing AI in marketing is a fantastic idea, as it enables you to select the proper message, enhance campaign ROI, and develop stronger customer relationships.

Conclusion

Cognitive technology and enterprises that can leverage them have the future. As a startup, you must consider adopting artificial intelligence technologies such as machine learning, computer vision, natural language processing, or voice assistants. Startups who use AI into their operations will gain a competitive edge, resulting in increased efficiency and profits.

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