Business costs can add up quickly, especially if you’re operating in an industry where profit margins are tight and efficiency is key. Thankfully, with the introduction of AI-powered tools to the business world, entrepreneurs have access to more cost-saving services than ever before, including virtual assistants and customer support chatbots. These innovations make it easy to free up time in your day-to-day routine to focus on more important tasks and grow your business at the same time.
AI Tech to Cut Costs
Business owners are always looking for new ways to reduce the cost of doing business while maintaining or improving the quality of service they provide their customers. Luckily, technology has made it easier than ever to save money and ensure high quality at the same time by automating everyday tasks and improving performance in every department of your business. The following can help you save money and work smarter, not harder.
Try HR Analytics Tools
This is a relatively new field of HR that uses Big Data to make better decisions about employee retention and hiring. Despite what you might think, you don’t need to spend thousands on an expensive system to get started. There are plenty of free or cheap options out there. Some of these tools will even integrate directly with your company’s HR software.
For example, TinyPulse allows companies and employees to track satisfaction metrics that can be monitored daily, weekly, monthly, or yearly. Companies can also create surveys specific to their needs and then deliver those via mobile device, email, or their existing internet portals.
Use Customer Experience Analytics
Customer Experience (CX) analytics platforms help companies measure, track, and improve their customer experiences. Using a variety of methods including surveys, machine learning, and natural language processing, CX platforms offer businesses an end-to-end experience of their customers that includes pre-, during- and post-purchase stages. This level of insight into customers allows organizations to use data to predict what they need before they need it. These capabilities also drive cost savings by enabling organizations to take preventative measures in advance of costly problems occurring.
New Product Ideation
The process of coming up with new product ideas is considered one of a company’s most vital functions. Using artificial intelligence for product ideation is an effective way to get creativity flowing. Many businesses use machine learning to generate content suggestions based on which topics have performed well previously. If your business has a wide range of products or services that are constantly evolving or changing–AI can be one way to speed up your ideation process.
Implement Cloud Storage Solutions
Off-site backup systems and storage providers have become increasingly popular with cloud computing. Cloud storage solutions mean you don’t have to worry about backing up files on your own or managing them once they are uploaded. Instead, you can store everything in one place and access it from anywhere.
The best cloud storage solutions also provide additional security features so you can be sure that no matter what happens, your files will be safe and available at all times. While services like Dropbox are convenient, keep in mind that these tools usually aren’t meant for long-term archiving. If you need an off-site backup system for long-term file storage, a cloud storage solution is a good way to go.
Cut Cloud Costs with AI
Cloud companies are always looking for ways to reduce their costs and in many cases, those reductions trickle down to you. No one likes paying for more than they need and tools for cloud cost optimization can help you avoid overpaying without sacrificing performance. This kind of tool uses machine learning to estimate how many resources your cloud setup needs, giving you a clear picture of how much money you’ll save by switching providers or increasing your efficiency.
Use Recruiting and Hiring Platforms
Hiring is expensive, time-consuming, and hard to get right. But there are more tools than ever to make it easier—and cheaper—to hire well. HireVue lets employers quickly assess candidates by asking them a series of video questions (all recorded at their convenience). Once candidates are accepted or rejected, their information goes into an automated workflow that matches them with jobs as they become available.
Many problems can be easily solved with the help of artificial intelligence-powered tools that automate these tasks so that you can focus on growing your business. Use these tools to help reduce your costs so you can grow your brand faster than ever.short url: