Leveraging AI to Drive Business Growth and Innovation

The AI revolution may just be getting started, but that doesn’t mean there aren’t implications for your business right now. The technology is now widely available enough that even small business owners can benefit from it.

The key is to know where to look and which tools are worth their salt. In this explainer, we’ll unpack the concept of artificial intelligence as it relates to business. We will also discuss how this novel tool can drive innovation for your business.

AI and Business: A Match Made in Heaven?

When you think about AI technologies, you likely think about its implications on the banking or tech sectors. But in truth, AI isn’t just about unpacking complicated data sets for complicated industries. As a concept, AI is about speeding up the type of processing that is so often inefficient for humans to do themselves.

Consider how a small business owner needs to be everything for their business. They need to be a CEO, a customer service representative, a vendor relations specialist, and an operational whiz. They also need to be a boss, a member of the community, and so much more. As any small business owner will tell you, that’s a lot of hats to wear!

Now consider how savvy business owners need to not just do all of the above, but to master it. Everything from operational efficiency to marketing falls on their shoulders. This is where AI in business really shines.

So, how is AI used in business? Here are just a few examples of the benefits of AI in business:

AI for Business Launches

Launching a new venture is all about hitting the ground with a solid and informed plan. But business speculation is a data science all its own. And how many small business owners (SBOs) have the dedicated time to learn, much less enact, the science of data forecasting?

With AI for businesses, owners can use predictive analysis and sales forecasting with ease. They can play with data analysis variables to determine elements such as:

• Customer trends
• Inventory needs
• Location success rates
• And more

AI for Business Growth

No small business succeeds on pure happenstance. When launching a new small business, an SBO is reliant on their marketing approach to generate interest. This is typically a time when SBOs will launch a marketing blitz across local and social media.

But not every SBO is a marketing whiz. So, what is someone who is passionate about their business but clueless about promotion to do? The answer lies in AI for business.

With a few simple keystrokes, an SBO can generate a full-throated marketing strategy. It can be tailored for their business vertical and their location. There even exist AI tools that specialize in design, web layouts, video, and more. Now any SBO can develop promotional materials without needing a marketing or design degree!

AI for Business Innovation

For small businesses that struggle to innovate in competitive markets, AI can be a boon for ideation.

Consider how AI used in business is like a strategic team member with no overhead. Everything from business process automation to product proposals can be given real-time analysis by AI.

Launch a Successful Business

Business leaders who understand AI solutions are likely to succeed. That’s because AI offers an advantage simply not found elsewhere.

But AI-powered strategy isn’t everything. When launching your franchise business, be sure to join a proven successful network like Woof Gang Bakery.

Ready to start your Woof Gang Bakery franchising journey?