7 Unique Ways To Use AI In Business
Artificial intelligence (AI) is one of the hottest topics right now. Companies around the world are taking advantage of this new technology to boost sales and improve efficiency. But just how should you be using AI? This post details 7 unique ways to integrate the power of AI into your business operations.
Setting dynamic pricing
Dynamic pricing involves altering pricing based on supply, demand, competition and customer behaviour. It’s a tactic that is heavily used in industries like travel booking and ticket sales - however it’s started to see usage in other industries too like online retail. Manually doing research and adjusting pricing is time-consuming, which is why more companies are using AI tools like Prisync. Such tools can automatically monitor competitor pricing and customer behaviour to maximize sales and profits.
Analyzing legal contracts
Sifting through legal contracts is hard work. If you deal with a lot of contracts, it could be time to start using a tool like Luminance. This can help you to easily identify problematic clauses so that you’re not agreeing to unfavorable conditions. Some of these tools can also help you generate and mark up contracts based on your needs.
Providing multilingual customer support
A growing number of companies are installing chatbots on their website. This allows visitors to ask questions to an AI-powered customer service agent instead of having to hire a human for this role. These chatbots can not only manage multiple conversations at once around the clock - many like Crescendo AI are also multilingual. This is extremely handy for ecommerce companies serving international customers.
Creating SEO-driven content
Many LLMs like ChatGPT can now be used to write blog posts and website pages. However, search engines can often easily flag up content written by these AI tools and this content is often penalized. More advanced tools like Jasper aim to create content that isn’t easily detectable and that is SEO-focused, actively boosting rankings. Marketing companies can benefit from such tools - even if it is just for content drafting.
Identifying brand mentions
Want to know when customers, influencers or competitors are mentioning your brand online? Tools like Brand 24 are able to use AI to scan various search engines and social media platforms daily, altering you whenever someone mentions your brand. This allows you to respond to complaints, defuse controversies early, and promote any articles or social media posts praising your company.
Enhancing soft skills
An AI skills cycle app like 5app could help you to boost your soft skills. How does this work? Such apps can monitor your work behavior - including the way you use various applications and even how you communicate on Zoom calls - to help suggest pointers on how to improve. It’s like having an AI-powered coach at your side to help you get better. Business owners can use this app to improve their own productivity, or as a tool to help get the best out of their employees.
Sales forecasting
Many platforms like Salesforce are now integrating AI in order to provide more accurate sales forecasting. These tools predict demand based on past sales, current market trends and current sales growth, helping to plan for high or low sales periods. Specific tools exist for industries like retail and hospitality - which can help when putting staff on certain shifts and ordering stock.
