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  If you are going to boost growth and increase your finance in your business, adopting Artificial Intelligence is a must. If your business doesn’t keep pace with consumers’ expectations, it will fall short and lose market share. In the face of fast-changing technology, many Nigerian businesses still view AI as a very complex and large subject to be incorporated into the day-to-day operations of their businesses. However, AI has become a vital part of our daily lives. 
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Showing how much Artificial Intelligence has become part of our lives, we now rely on search-engine algorithms and digital assistants like Alexa and Siri for almost everything, including ordering a taxi.  The capability of this technology goes beyond its household use. AI is making great strides in the business world, and creativity may be its ultimate power. For approximately over a century, humans never saw themselves right that machines could not create anything new; they could only follow set instructions to perform tasks. But recently, we’ve seen AI creating original paintings, music and poetry.  More interesting, Artificial Intelligence has progressed to a point where it can autonomously reproduce ideas, concepts or rough drafts. Nevertheless, technology hasn’t advanced to a point where it can replace human creativity. However, it is a tool to be used by humans. Therefore, in this article, I will show you five areas of your business that you should adopt AI if you want to increase growth and boost productivity. 

  1. Hiring

The future of work will demand that you maximise AI in the area of employment and recruitment. As business gravitates towards remote, HR managers are confounded with lots of resumes and applications. However, with the help of avant-garde AI algorithms, HR managers will no longer need to spend endless hours identifying the right candidates from a large applicant pool. There are AI-powered Apps that can help in filtering resumes using keywords to single out the right candidates. With AI, HR doesn’t have to spend hours or days manually identifying the right candidates. With AI, the hiring process can be less demanding and time-consuming.  Furthermore, with AI issues like hiring discrimination based on race, ethnicity, and gender are eliminated as this technology is simply out to pick out the best using intelligent means.

  1. Marketing

Business marketing has changed in past decades. Leading companies are now relying on AI algorithms to engage potential customers. With AI, you can understand the landscape of each area your business is operating and get the specific information you need about potential customers. With AI, companies get to reach the right customers through personalised experiences, messages and advertisements. For example, with AI adoption, your company can gain insights to know the group of customers to target. Through AI, you can access your potential customers’ buying history, credit spending history, consumer behaviour, buying preferences and other trends.  With gathered insights, marketers can plan and develop creative strategic offerings and ads that meet the specific needs of a wide range of customers. 
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  1. Research And Analytics

With AI, your company can take customer experience to the next level through customer insights. With a larger population of the country using smartphones, the collection of data is very simple. You can use various AI-powered forms like Google Forms, Survey Monkeys and countless others that can help you collect data and it’s the most efficient means of research. Furthermore, with the social media polls on Twitter, LinkedIn, and Facebook, you can assemble useful data. However, challenges exist through this method, because one might find it difficult to match the right people. But with Machine Learning (ML) model, market research can personalize market surveys accurately by posing the relevant questions when the audience is most available and receptive. After gathering these insights, AI technology will single out relevant responses crucial to your research, while filtering out irrelevant responses. 

  1. Cybersecurity

According to IBM, 95% of cybersecurity breaches in businesses could be traced to human error. This is to tell you that your business’s cybersecurity is of utmost importance. With AI-built computers and devices, you can filter out malware or phishing links before they get to the eyes of unsuspecting users. With AI you can protect your system from cyber security attacks. Cybersecurity experts are already using this tech to recognize new types of malware and protect sensitive data for organizations. 

  1. Customer Relations And Customer Service

In today’s business world, it is no longer strange to see chatbots on various business websites. Chatbots are making conversations with customers to be insightful, quick and impressive. Chatbots are good at imitating the way humans have conversations via voice commands and text chats. Even though this tech is yet to be perfected in solving customers’ dilemmas, it offers a straightforward way to provide efficient customer service. However, it is advisable to engage in a hybrid mode of operation when it comes to relating with consumers. What makes artificial intelligence outstanding in the customer service sector is its capacity to target detailed consumers and cater to their specific inclinations. Providing a more personalized experience to customers encourages brand loyalty and keeps the business booming.

A Final Word

AI and ML are emerging trends in doing business. It is not enough to know about them and wants to adopt them. Rather, it is knowing which areas to incorporate them. AI and ML might seem like a luxury today, but in the coming months and years, they will be necessary. Failure to incorporate AI will leave you groping behind.  Featured image: Business Africa Online
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This article was first published on 2nd February 2022 and updated on April 6th, 2023 at 11:48 pm

nnaemeka-emmanuel

Nnaemeka is an academic scholar with a degree in History and International Studies from the University of Nigeria, Nsukka. He is also a creative writer, content creator, storyteller, and social analyst.

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