If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask an expert about how you can utilize AI as a small business owner.
In this edition of “Ask the Board,” we ask Brenda Christensen, Co-Founder and Principal at Stellar Public Relations, Inc., a PR firm that has successfully created and managed global messaging campaigns for prestigious companies and startups, to discuss how small business owners can leverage the power of AI.
There’s no denying that artificial intelligence (AI) is all the rage these days. As a small business owner, it’s important to understand how it works and what it can do to support your business and make your life easier. Here are six ways I use it within my PR firm and you can do the same.
Automate redundant tasks
AI can free up your time by automating repetitive tasks, from anything to scheduling, data entry, and even customer service. Conversational AI tools, such as chatbots to handle common customer questions to partner communications, can be a great way to create extra time for you and your team to focus on strategy and other high-level efforts.
Automate marketing
As a pioneer in this space (Automated Processes), AI marketing automation is an extremely useful tool to not only analyze customer data and trends, but also be more strategic with AI-generated personalized campaigns, to enhance targeting and super-charge conversion rates.
AI can free up your time by automating repetitive tasks, from anything to scheduling, data entry, and even customer service.
Brenda Christensen, Co-Founder and Principal at Stellar Public Relations, Inc.
Expert customer insights
One of the most useful ways to leverage AI is to gain deep insights into your customer base. AI can analyze tremendous amounts of data and distinguish patterns and trends, allowing you to understand customer behavior and even predict trends. Being informed and armed with this knowledge will give you a competitive edge and happier customers. This can also inform and provide insight for future product road maps.
Optimize management
AI can streamline virtually any management procedures in your business, including arduous supply chain management. Using AI, you can anticipate demand, predict needed inventory, and even gain insight into potential disruptions. Automating supply chain, in particular, will lead to significant cost benefits and streamlined operations.
Enhance decision-making
The key to any successful business is effective decision-making. Leveraging AI for all of the above processes can free up your time to be more strategic and better capitalize on opportunities. AI allows you to optimize strategy by processing and analyzing data quickly and accurately. The best part is because you are better informed, you are also more likely to mitigate risk as well and identify new business opportunities you might not have considered.
Practice Human AI Teaming (HAIT)
By integrating AI with human teams (Human AI Teaming or HAIT) into these areas, startups and small businesses can improve efficiency, enhance customer satisfaction, and drive growth, leading to AI-powered success.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
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