It can be daunting to stay at the top of your game in an ever-dynamic business world.
Business owners must move with the level of innovation around them and keep ahead of competitors.
Artificial intelligence is a technology that equips machines to complete tasks that usually require human effort.
This technology relies on the data it is fed in order to perform well. This reliance on data is its greatest strength and weakness, as any corrupted data might affect its abilities.
AI can revolutionize virtually every sector of human life, business inclusive.
Generative AI is a branch of artificial intelligence that is trained to generate a wide range of databases from algorithms and models.
This kind of AI generates new and realistic patterns with the data it has been trained with.
Some notable examples include ChatGPT, GitHub copilot, stable diffusion, and Google Bard.
These tools keep breaking the set standard, thereby rapidly becoming one of the most reliable innovations man has ever made.
A revolution might have very well washed up on our shore, so business owners should rather ride with the wind than get caught in the storm.
Here are some simple tips on how you can adopt generative AI and prepare your business for this tech revolution.
● Customer service and experience
Tracking customer satisfaction and engaging with them as though it is also human; is another superpower that AI possesses.
Chatbot for example is a kind of generative AI that has learned to develop its communication skill and can chat like a human.
Better still, it lacks the emotional intelligence to distinguish between a good customer and a bad one, therefore, all customers would be treated equally.
Chatbots help customers to track orders, weigh their preferred items against their budget, and answer questions that are by and large related to the business.
Another very interesting concept that this kind of generative AI offers is the ability to be able to personalize each customer’s experience and work with feeds from a customer’s previous transaction.
● Product design
Aesthetically pleasing designs for companies can be difficult or expensive to create. Certain generative AI tools can however help at no cost.
Generative AI can help a business owner develop good designs that mirror the company’s core values and what it stands for.
A company’s logo or industrial design might be the major difference in its saleability as opposed to a competitor with a more attractive logo.
Logo design and creation are also within the realm of the powers of AI.
By feeding the technology with data, it is capable of generating new and original models.
In the process of growing, small businesses require a high level of precision to capture the heart of their target audience and also save costs on marketing materials.
Generative AI boosts a company’s marketing strength because it increases the efficiency of any adopted marketing strategy.
Businesses can use AI to spot correlations in sales or losses, track down the root cause, and either improve on it or get rid of it completely.
This technology won’t only give you a competitive edge, but it will take data from various variables and considers them in making the next marketing decision.
Reduction of human skill and labor where necessary continues to be a major objective of every new technology.
It doesn’t, therefore mean that man would be rendered completely useless but that areas that require a human relationship, emotional intelligence, decision-making, and intuition will always require a human touch, for example, the creation of custom cardboard boxes.
Generative AI can be set to handle tasks like email campaigns while the business owner can focus on other areas that require urgent supervision.
For small business owners, this function of AI is the most appealing. Not all business owners have the financial capacity to hire staff to fill every vacant role.
Generative AI is therefore a cheaper, more efficient, and more reliable substitute.
● Social media presence
In this age, it is necessary to be easily accessible through social media platforms because it not only links the vast majority of customers to the business owner but also serves as a great marketing space to gain more customers.
At the end of a rather long business day, finding the right words and images to keep your followers engaged can be quite tasking.
There are AI tools that can quickly generate images for a platform like Instagram. These images are free and can be used for commercial purposes.
ChatGPT is another tool for text generation.
● Digital product creation
Digital products can use AI to write codes for their machines and translate one programming language to the other.
However, the current ability of the generative AI we have now cannot fully write a software suite but it can provide aid in the process of software creation like writing a programming language.
Software engineers would find building software to be less tasking.
Generative AI can also help creators of physical products to experiment with designs. Generative AI can search for designs used by companies and be instructed to combine them to create a more unique design.
Experimenting with what is available never hurts. The goal is to achieve maximum customer satisfaction.
These 5 areas are those in which generative AI can prove useful to any business owner. Embracing the AI revolution is paramount to keeping your business relevant for years to come.