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Artificial Intelligence Strategies Startups Should Use to Grow

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Consumers have incredibly high expectations for companies to deliver faster, more personalized experiences, which is fueling the demand for artificial intelligence (AI) solutions. In turn, the increase in this use of AI is driving the growth of many startups.

Here are some AI tactics you can use today to scale and grow your business.

Customer experience automation

Around 90% of consumers consider an immediate response important and they demand a connected experience every time they interact with a brand. Therefore, more and more organizations are investing in smarter solutions for better customer support. One of the easiest ways to do this is to adopt AI-powered applications such as chatbots, voice search, and virtual assistants to improve the customer experience. These software applications help you deliver quick responses, deliver high efficiency, generate leads, and offer personalization.

A recent study of different customer service software revealed that many vendors have several AI-assisted features to remove manual tasks from customer service representatives and increase productivity. In fact, 54% of customers have daily AI-enabled interactions with businesses, including interactions with chatbots, digital assistants, facial recognition, and biometric scanners.

When we use a combination of AI and ML, or machine learning, to collect and analyze social, historical, and behavioral data, we can accurately understand customers. Providing real-time, personalized support to customers using chatbots can place them in high-traffic areas to answer basic questions, offer advice, or help place orders. We can also send highly personalized emails by analyzing topics of interest and detecting patterns to recommend relevant content.

Related: 3 Key Trends Driving the CRM Revolution

Make data-driven decisions

A Gartner survey shows that more than 65% of decisions made today are more complex than two years ago. Therefore, data-driven decisions help companies make better marketing decisions and measure KPIs and metrics based on facts and figures. About 66% of decision makers say AI-powered applications help them increase profits and achieve their goals.

We can use AI to analyze large datasets and help make instant decisions. We can also implement AI applications such as NLP or natural language processing, to understand how customers interact with a brand. Using AI tools such as chatbots, machine learning, and algorithms can help us better understand a customer’s pain points, expectations, and satisfaction levels. Thus, AI-based smart assistants empower decision-makers with both prescriptive and predictive insights to support faster and more efficient data-driven decision-making.

Improve data security

The number of cybersecurity cases has increased. According to a study by Aura, 47% of Americans suffered a data breach in the last year. Many offenses have been suffered by employees of companies and organizations. A McKinsey survey shows that only 16% of organizations are well prepared to deal with a data breach. This is where AI-based technologies are essential, as they help information security teams reduce the risk of breaches and effectively improve their security posture. These applications can analyze multiple events faster than humans, such as employee identity theft, account compromise, SSL fraud, or SIP trunk fraud. They also provide automatic protection such as VPNs and malware that automatically scans, detects and exterminates viruses, and spyware that identifies risky behavior that can lead to a Trojan horse attack.

Related: 10 data security measures you can’t live without

Optimize HR processes

The traditional HR process usually takes hours and days to complete. About 52% of HR managers find it very difficult to identify the right candidates from a large pool of candidates. However, with the advent of AI, companies can speed up their hiring process by automating hiring tasks, such as sorting resumes, calling candidates, and scheduling interviews to find the perfect candidate. . According to a LinkedIn survey, nearly 67% of hiring managers said AI saves them time in the hiring process. With the help of AI-powered software, simply enter the right set of parameters to find an ideal candidate, then use AI to sort and filter the list or perform automated assessments. AI can also improve the candidate experience, as AI-powered software can update candidates on the status of the review and hiring process.

Automate marketing efforts

AI also allows companies to transform their marketing efforts by optimizing and automating marketing tasks. These tasks may include content generation, digital campaigns, programmatic advertising, and email marketing. Over 44% of marketers now use marketing automation platforms. In fact, an additional 42% plan to use it in the next few years. For scaling, AI tools like Curata and MarketMuse help uncover new content ideas and write and optimize content for different audiences. Plus, its content can then be compared to top-ranked content, with recommendations and advice provided to achieve similar results.

Digital ad campaign management can be improved by using programmatic advertising to reach larger audiences, with AI tools such as Albert AI to manage digital ad campaigns. These AI tools support all digital marketing activities, such as ad buying, lead segmentation, cross-channel execution, testing, optimization, and analytics.

AI also allows you to optimize your email marketing campaign. It helps you understand and predict customer actions based on their behavior. So you can personalize your emails and get the best response from subscribers. Personalized emails via AI have an open rate of over 18%, so leveraging AI in marketing is a good idea, as it allows you to select the right message, increase the return on campaign investment and build better customer relationships.

Related: How Algorithms Can Predict Our Intentions Faster Than We Can

Final Thoughts

The future belongs to cognitive technologies and the companies that can appropriate their use. As a startup, you should consider implementing AI technologies including machine learning, computer vision, NLP, or voice assistants. Startups leveraging AI in their businesses will see a competitive advantage, leading to greater efficiency and higher profits.