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How Can AI Help Your Business Achieve 5X Revenue?

How much difference does AI make for businesses? According to a McKinsey study, B2B marketing professionals who use AI to deliver personalized, real-time expertise can boost their revenue by up to 5X, including earnings before interest and taxes (EBIT).

How much difference does AI make for businesses? According to a McKinsey study, B2B marketing professionals who use AI to deliver personalized, real-time expertise can boost their revenue by up to 5X, including earnings before interest and taxes (EBIT).

For small to medium businesses looking to take their growth to the next level, AI may just be what they need to level the playing field. If you are in the same situation, read on to learn more about the AI tools that help companies sell more products.

How AI Helps Businesses Increase Revenue

As AI continues to make its way into mainstream life, people begin to realize its wide range of use cases, especially in the world of business. Some happen in the background, while others are more obvious. Here are some of them:

1. AI in E-commerce
In e-commerce, AI-powered product recommendations provide an effortless way to see products that best suit your needs in real-time. The algorithm keeps track of your shopping preferences, suggesting products based on past purchases or offering smart deals.

It’s even possible for AI assistants like Alexa or Siri to become your personal shopper if they know what kinds of things you like. When more options are available, AI narrows them down for easier purchasing decisions.

2. AI Assistants
Depending on your business needs, there are different types of AI assistants. Digital assistants, for example, can help you navigate through your phone and perform basic tasks such as calling a friend or setting a reminder.

In the AI assistant space, there are three major players:
● Google Assistant from Google,
● Bixby from Samsung, and
● Apple’s Siri

They all have a fundamental difference in how they work, which will then directly affect the user experience.

Google Assistant has access to Google’s library of apps and services known as G Suite, the most popular suite in the world. This enables the AI to perform tasks such as booking a hotel, creating an invoice, and so much more by just launching third-party apps installed on the phone.

Meanwhile, Siri is catching up with its competitors by learning new tasks like booking appointments and identifying songs.

With time, all digital assistants can become a valuable part of our lives. The more they learn, the better they become.

3. AI in Sales
There are plenty of AI applications designed to make the entire sales process easier for everyone involved by removing some of the more tedious aspects, such as keeping track of past interactions with customers.

Predictive analytics can increase conversion rates by learning from your company’s and your customers’ data. These insights lead to a more personalized shopping experience and a higher chance of closing a deal.

Take Advantage of Using AI For Your Business

AI is undeniably changing business, helping companies save time and money while also staying competitive – all while providing personalized assistance to users. That’s why it comes as no surprise that AI can help you achieve 5x revenue as it has done so for other organizations around the globe.

Conclusion

The ability of AI to gather useful information is extremely valuable when it comes to making business-critical decisions. By mining current data sets, it creates a clearer picture of what’s happening in your company or what you should be doing next. Why not set your company up for success in 2022 with AI? To get started, grab time in calendly:
https://calendly.com/instarel/learn-more-about-creating-digital-relevance

Sources:
Four pathways to digital growth that work for B2B companies | McKinsey
https://www.mckinsey.com/business-functions/marketing-and-sales/our-insights/four-pathways-to-digital-growth-that-work-for-b2b-companies
https://www.intellspot.com/artificial-intelligence-business/
https://www.intellspot.com/artificial-intelligence-business/
https://www.datamation.com/artificial-intelligence/ai-companies/
https://www.edward.ai/en/home

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