Think you’ve grasped the full potential of AI in the corporate sphere? It’s time to expand your horizons. The landscape of AI tools for business is evolving at a pace that’s hard to keep up with. It seems like just yesterday, the world saw the release of voice assistants like Siri, and today, everybody talks about ChatGPT.
In fact, AI is much more than that. CEOs who use it wisely make every decision twice as effective and five times faster. That’s because AI engineers create high-quality custom AI software that can analyze market trends, prepare a risk assessment report, optimize your day’s schedule for peak productivity, and do whatever you need to grow your company. Today, AI integration in business is not a luxury; it’s a necessity for forward-looking entrepreneurs who want to do more with less.
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Once a futuristic concept in business magazines, AI became mainstream and much on the radar of most companies. A recent study by MIT Sloan revealed that approximately 92% of large enterprises increase their investments in AI, and the same high percentage see returns on their AI investments. What’s more striking is that in 2017, less than half reported such success.
Organizations smart enough to act quickly and understand how AI solutions can be integrated into their long-term strategies will reap the rewards. That’s why we can see more legacy enterprises move to AI-driven business models. It helps them expand their offerings to attract new customers, create new revenue streams, and grasp new opportunities. AI integrated into business models also makes companies more agile, responsive, and adaptable to changing consumer needs and market conditions.
There are many reasons why both small and large organizations use artificial intelligence technology in their daily operations. The benefits of AI in business are enormous and tangible, expected to deliver meaningful financial value. Here, we’ll focus on areas impacted the most by AI tools for business.
AI-augmented chat assistants are undoubtedly the most popular application for improving customer service, and it’s easy to guess why:
Perhaps AI’s most valuable capability is predictive analytics. Many companies use it today to analyze and predict how customers will react to new products and what they want and like. These tools learn from past customer interactions, their purchasing histories, and browsing habits to forecast what they expect or will likely buy or do next. And, believe us, they can do that with the highest accuracy.
Besides predicting customer behavior, artificial intelligence helps companies optimize content and tailor their marketing campaigns to achieve higher engagement and better conversion rates. AI systems adapt messages according to user interactions and preferences, unique for each customer, which deepens engagement and improves conversion rates.
At the core of increased operational efficiency lies the ability to make informed decisions quickly. This is where AI analytics shines. It helps companies make use and sense of large amounts of their data to drive strategic decisions. These systems cut through the noise and offer clear insights into ways to improve weak points in your internal processes.
AI brings even more changes to the way of managing supply chains. Instead of relying on past data and manual processes, you can analyze current data and develop anticipatory strategies to manage inventory and supply chains with better accuracy. AI can forecast demand, optimize stock levels, and spot potential disruptions before they happen. From a business perspective, it means fewer surprises, lower costs, and a resilient supply chain that’s as efficient as it gets.
AI apps are shaking up the business world in exciting new ways. When you browse some online stores, product recommendations might feel like they were handpicked just for you. That’s AI in action. Product recommendation engines know exactly what each shopper wants and suggest products they are more likely to buy. It’s a win-win scenario. Customers feel understood and appreciated, while AI benefits to business are happy clients and increased sales.
The key features of AI-driven analytics, like pattern recognition and predictive analysis, allow for a much more efficient and accurate approach to product quality. This technology in your production line can easily catch potential flaws long before they leave the factory. Of course, it saves time and resources while dramatically increasing product quality.
Once again, we want to emphasize the power of AI tools for business to personalize the experience, but this time for service offerings. Let’s take hospitality, where artificial intelligence can create a ‘home away from home’ experience by learning about the guest’s previous stays and setting up everything in the room, from temperature to the type of pillow they prefer.
There are a lot of impactful solutions out there. The Futurepedia platform alone features more than 5500 tools and updates the list daily. That’s why we explored many resources to put together a list of AI tools for business that were featured on different lists, had the most likes, and offered unique AI business use cases.
Today, most people are probably aware of the power of AI tools for business thanks to ChatGPT, which has caused a stir worldwide, attracting over 100 million users within just two months of its release.
Positioned as a large language model (LLM), this tool is widely used in marketing to generate compelling content ideas and proofread text. Companies equally heavily rely on ChatGPT to support their customer service, as it can quickly generate responses to client questions. Sure, ChatGPT isn’t flawless and requires human touch and revision. But as a first line of analysis, idea generation, or customer interaction, it’s a useful tool many businesses use today.
Your next read: ChatGPT – the most powerful language model
Another writing assistant, Jasper, helps companies produce original content for their website 5x faster. All you need to do is provide seed words, which Jasper analyzes to generate the desired content type for your blog, industry pages, or social media platforms. With this platform, you can easily align the content with your company’s brand style and tone. These features make it stand out among similar AI tools for online business.
Fireflies is a smoothly operating assistant that can help business leaders make the most out of meetings. It records, transcribes, and boils down your meetings into a brief summary you can quickly refer back to. For teams that handle multiple meetings, it can be a useful instrument for capturing key points during discussions that could otherwise be forgotten.
Companies that want to produce clear and error-free content that reflects their brand voice should use Grammarly at all times if they still don’t do it. It’s a well-known writing assistant that has grown beyond classic grammar and spell-checking. With its new AI-powered extension, GrammarlyGO, you get more advanced features for brainstorming ideas, creating drafts and outlines, and polishing existing content.
MonkeyLearn is one of those useful AI tools for businesses that automate tedious tasks and help make sense of text data. It looks through customer feedback, social media posts, and emails to turn raw data into meaningful insights. Besides sentiment analysis, MonkeyLeran categorizes and tags data, making it easier for companies to organize information and spot trends.
Deepgram uses artificial intelligence to convert speech in audio and video resources into a text format. Thanks to its deep learning models trained on vast audio datasets, the app easily recognizes words in different languages and even challenging audio environments. Companies in educational, legal, media, and entertainment sectors can benefit a lot from effortless audio-to-text conversion that takes just a few minutes.
More than a place for storing notes, Notion is among the top AI tools for business that creates unique, high-quality content. It supports various stages of your writing, editing, and summarizing content, and it’s especially beneficial for ideation and mind-mapping. This is an all-in-one workspace where teams can collaborate, manage products, plan, organize workflows, and so much more. So, entrepreneurs and marketers should consider using it to make the most of their ideas.
If you still use PowerPoint for creating presentations, you should certainly give the Tome app a try. You will be surprised how easily and fast it’s possible to craft visually appealing and informative slides with the help of artificial intelligence. The app provides you with AI-generated templates, texts, images, and some other instruments for adding dynamic animations, graphs, and videos. You should simply instruct Tome what you want it to do, and it will do the rest for you.
DataRobot is among the best AI tools for business analysts, IT professionals, and executives who plan to adopt predictive analytics to make forecasting. It helps companies build, deploy, and maintain machine learning (ML) models with relative ease. DataRobot automates the most part of the ML modeling lifecycle, including data preparation, ML development, and operations. By using its extensive library of ML algorithms and techniques, you can develop custom predictive models for each use case.
Selecting the right resource management software is a big commitment that greatly impacts how you allocate resources, organize your timelines, and predict the resources necessary for your project. Forecast is one of the best AI tools for business that helps teams and managers do all those things easily and quickly. It uses artificial intelligence technology to automate resource planning and task allocation, usually done manually. Companies seeking a smarter way to handle projects and take the guesswork out of planning should try Forecast.
Getting your business ready for AI is more than just simply adopting new tools. It’s a complex endeavor, and without careful planning, it can create more problems than it solves. You need the right mix of viable AI business ideas and an apt strategy to set the stage for AI to work for your company’s advantage. That’s why most companies prefer to create custom AI systems that really fit their business needs and long-term strategies. So, here’s what you should do:
To successfully incorporate any technology, the first thing you need to do is understand your business needs and identify areas where the technology can add the most value. Think about the most pressing problems your business faces. It can be tedious tasks that take tons of time for your staff to complete or low-profit parts of your business that AI can give a boost.
When your company is ready from this standpoint, it’s time to integrate technology. You can either hire AI engineers to build an application that fully covers your business needs or choose off-the-shelf tools available on the market.
The next important step is preparing your staff to use AI tools for business most effectively. Along with providing training, you should clearly communicate how these applications will help them do routine tasks. This way, you will offset concerns and foster a more productive experience.
Given the time, resources, and finances AI integration demands, you certainly want to ensure it brings tangible value to your company. The common metrics businesses use to measure ROI are efficiency gains, revenue growth, customer satisfaction, and cost savings.
Since AI technologies are developing rapidly, monitor their progress and use cases to discover new ways to use the tools you already have. Thus, you’ll make sure your investment remains a growth-driven choice, not a one-off tech spend.
Using artificial intelligence is one of the smartest moves you can make. The AI tools for business can help you automate tasks, save money, and give your company an edge. So keep your eyes open, explore, and stay open to experimenting. Artificial intelligence is no longer just a trend but a new way of doing business.
If you haven’t yet jumped on the AI bandwagon, Relevant Software can help you get started. If off-the-shelf software doesn’t meet your requirements, which is often the case, and you want to customize it or build one from scratch, we’re here to help. Our experts can consult you on the best machine learning, big data, and chatbot solutions, as well as on the best programming languages for your AI application. And our qualified AI engineers will do the rest to develop and deploy your solution with minimal disruption to your business.
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