If you’re wondering how AI is transforming business, the answer is not as straightforward as you might think. While you’ve probably heard of “generative AI,” thanks to the recent explosion of AI tools like ChatGPT, AI has been shaping the way we do business for years. (In fact, Wix has been experimenting with artificial design intelligence since as early as 2016.)
The truth is, AI can do so much more than make up stories or create goofy images. It can help you market your business—heck, it could even run parts of your business for you. AI is quite simply, changing the way humans get things done.
It’s not just generative AI that’s moving the needle. AI is being used to automate production in manufacturing, deliver personalized experiences in retail and create more sustainable solutions in agriculture (as examples). Here’s how:
In the not-too-distant past, it was nearly impossible for small businesses to compete against mega-corporations in most capacities. Search engine optimization (SEO), branding, marketing and product production were a numbers game; the more resources you had, the more successful you’d be.
AI has given small businesses a unique opportunity to close that gap, compensating for lack of experience, manpower or budget. You can work at scale and get consistent, dependable results no matter how small of an operation you’re running. And, contrary to some of the popular AI myths you may have heard, AI is not exclusive to companies with big budgets.
Forbes found that 64% of businesses expect AI to boost their productivity, and it’s no surprise why. AI offers a myriad of opportunities to streamline operations, reduce costs and enhance overall efficiency. It’s a necessity for any small business owner who needs to get more done with less. There are many ways to tackle various small business challenges, but you can leave it to AI to handle the following:
Clear, organized communication is essential to keep a business running like a well-oiled machine. Despite this, it’s an area where many business owners struggle.
In a recent workplace survey, Forbes found that ineffective communication had a profound negative impact on morale and efficiency; 49% of respondents said their productivity was affected, nearly 50% reported decreased job satisfaction and 42% said it affected their stress levels. Even if you’re operating as a team of one, poor communication with customers, contractors and vendors can negatively impact your business and cause you undue stress.
Product development can be a nerve-wracking process for business owners due to an ever-present level of uncertainty. According to Clayton Christensen, professor at Harvard Business School, “Nearly 30,000 new products are introduced each year, and 95% of them fail.” That’s a daunting statistic no matter how you look at it.
There’s no question that artificial intelligence is a disruptive technology. It has shaken up the way businesses and consumers operate down to the minute level, completely eradicating some manual tasks while redefining others. With that comes the debate about how AI will impact the job market.
Marketing is like a compass that guides businesses through the vast landscape of consumer preferences and competition. It’s one of the most critical drivers of business growth and a necessity for companies of all sizes, from solo entrepreneurs to mega-corporations. Businesses around the world are already using AI to completely transform the way they handle sales.
So, how can you embrace AI in marketing? There are tools to create assets like ads and ad copy, tools for managing customers and tools to align all of your various touchpoints in the customer journey. Below is a taste of how AI is transforming marketing and sales processes:
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