Artificial intelligence's buzzing on the lips of almost every business in the last couple of years.  Promising so much- it gives business owners the chance to save money and get work done faster than any human hands could manage.  The idea of being error-free, on top of all of these other perks, is the cherry on top that gets most businesses interested.

There's so much more to AI than this, though, so let's explore the top seven ways it's broadening the future of all businesses.

1. A Better View At How Your Business Runs

Every business owner wants to grow their business- this is just a fact of capitalism.  One of the best ways to ensure that you're moving forward is to see where your company started and where it is currently.  

Although people are great at memorizing and compiling information, they’re also unreliable when retaining it.  If you have one employee that sets up a system for categorizing and documenting, the second they quit, retire, or get fired- you’re stuck with having to retrain someone else.

AI is capable of retaining and analyzing information without the hazard of it walking out on the company.

AI will be able to find patterns and give you a clear view of how your company will grow and change, and what you can do to aid it.

2. Of Course, Saving Time Saves Money

Not only does automating your business mean you won't need as many eyes on screens, but it'll also save a considerable chunk of money that you currently pour into employees.  Augmented intelligence helps us complete projects quicker than with employees as well, which allows you to focus the time and energy on customer service and working on your products.

3. Security

With artificial intelligence, you're able to assure your customers that their information is protected.  Second step verification, through 'selfie identification' (which compares copies of their ids to the faces setting up accounts), a customer can rest easy knowing that they're the only one able to set up and access their account through you.  A customer that trusts you is more likely to stay with your business.

4. AI Builds Customer Relations

Security is essential, but on top of that, AI still has so much more to offer your customers.  Even if you decide that the endpoint for a customer should be an agent, AI can provide a buffer to make sure only those who need an employee are reaching one.

Customers will be happier knowing that they won't have to get thrown from department to department needlessly, and employees will be able to spend more time helping customers who need it.

5. Fewer Errors

We all know the tired saying 'to err is human.'  Unfortunately, for every single business owner out there, this is astonishingly true.  People, regardless of how well trained and skilled they are, will make mistakes eventually.  Not all of them are threatening to your business, but enough of them can add up into a catastrophe.  AI can help ensure that every decision gets well thought out, well-executed, and well documented afterward.  I keep driving home this same point: less wasted time on errors and unneeded tasks means more time spent helping customers and making money.

6. Opportunity for Future Growth

People can reach a limit.  Although AI could never replace people fully (nor would anyone want it to!). It's eternally learning and improving.  If you want it to complete a new task, or update with the times, it’s a lot easier to do than having to retrain every single employee in your company.  AI can change with the times and grow with your company as organically as possible.

7. Unlimited Work

If you told an employee that you wanted them to work 24/7 with no vacation or overtime pay, you wouldn’t have any employees left.  AI doesn’t have to worry about tiring, or disappearing to the break room for a fifth cup of coffee just an hour into its shift.

Customers will be pleased that they can interact with your company at any time they need you, and you can give your human employees shorter shifts and more extended weekends.

It’s a win-win for everyone.

The future is coming towards us just like it always has, and always will.  Instead of sticking to running your business the same way as it would have existed a hundred years ago, give AI a chance.  Not only will it surprise you with more time and money saved, but it will also give your company the precise push it needs to move forward.

More Posts

You Might Also Like

Press Releases
Meriwest Credit Union Sponsors over $1 Million in Affordable Housing and COVID-19 Pandemic Relief Grants for local NonProfits
Meriwest, one of Silicon Valley’s Premier Credit Unions sponsored grants through the Federal Home Loan Bank to support projects of two Community Based Nonprofits. The Credit Union also provided additional support to local charities to assist them in meeting the needs of their clients during the pandemic. Meriwest sponsored a grant of $1,055,000.00 for CityTeam San Jose through the Federal Home Loan Bank’s Affordable Housing Program. This project will renovate an existing transitional housing and emergency shelter for homeless and low income residents. It will also provide meals and improve the financial mobility of residents through financial educational workshops.
Jan 26, 2021
Meriwest Credit Union
Press Releases
State Announces Lifting of Regional Stay at Home Order, Returning Santa Clara County to Purple Tier
Outdoor Dining, Personal Care Services, and Professional, Collegiate, and Adult and Youth Sports May Resume with Required Modifications; Mandatory Travel Quarantine Remains in Place.
Jan 25, 2021
County of Santa Clara Emergency Operations Center-Public Health Department
Press Releases
Position Statement & Independent Investigation
Dec 9, 2020
The Silicon Valley Organization
COVID 19 Resource Center
Governor Newsom Announces Immediate Assistance for Businesses Impacted by COVID-19 Including Temporary Tax Relief and $500 Million in Grants
November 30, 2020 Governor Newsom announced the following immediate support and relief: 1.) Tax Relief for Businesses Impacted by COVID-19 2.) $500 Million for New COVID Relief Grant for Small Business 3.) Increase Funding for the California Rebuilding Fund by $12.5 million.
Dec 1, 2020
The Silicon Valley Organization
Press Releases
Awesome San José Fall Grant Winner
Awesome San José is pleased to announce that the Fall Grant winner is San José Strong’s Queer Homecoming. San José Strong received our $1,000 grant on November 10th and the grant money will be used to help fund the Queer Homecoming event. San José Strong’s Queer Homecoming will be streaming online on November 21st, and will feature an array of local comics, drag performances and more.
Nov 20, 2020
Awesome San Jose
COVID 19 Resource Center
New Loan Fund to Provide Important Lifeline to California Small Businesses in Need
Starting November 20, 2020 Governor Newsom launched the California Rebuilding Fund, which includes non-forgivable loans for micro-business owners backed by the iBank at 4.25%. The California Rebuilding Fund is a loan program to support California’s small businesses—especially those located in economically disadvantaged and historically under-banked areas of the state. Businesses who employed 50 or less full-time equivalent employees (FTEs) and had gross revenues of less than $2.5 million or below in 2019 are eligible to apply. Full eligibility requirements are included in the Business Requirements tab.
Nov 20, 2020
The Silicon Valley Organization
Explore ALl Posts