Role of AI to Scale Startups
When technology becomes more human-like, the probability of an error occurring shrinks exponentially. Artificial Intelligence brings the decision-making proficiency of a human and the efficiency of a machine together to get tasks done.
Artificial Intelligence is slightly different from what we are used to witnessing on big screens. Artificial Intelligence is not a horde of robots marching forward to take over the world. AI has become an integral part of our lives from voice-controlled gadgets to automatic-driving cars. AI is automating, and it’s accelerating the growth rate of the business landscape.
As businesses become more technology-driven decision-makers across the globe eye at investing in AI and machine learning to step up their business and outperform competitors.
There are countless ways how Artificial Intelligence is holding up and elevating the business especially in the case of startups. Here’s how startups are counting on Artificial Intelligence to gain an extra edge:
1. AI secures:
For a business, security comes first. The figures of cyberattacks in India, despite the many preventative measures, have been seeing a rise. According to the Indian Computer Emergency Response Team (CERT-In), there have been more than 313,000 cybersecurity incidents reported in 2019 alone.
It takes an organization about 7 months on average to pull through a security attack. A cyber attack not only costs a business its time but also costs finances. According to a report published by Norton, the cost of recovering from a data breach is around 3.86 million.
Security is at the core of any organization and as the increasing rate of cybersecurity attacks has become a pressing concern, startups have begun relying on AI to secure their business. Artificial Intelligence is effective at detecting and tracking down any suspicious activity on your website. Google continues to improve the world wide web by blacklisting malware-infected and phishing websites to make a safe online environment for everyone. AI can help startups recognize users trying to cause problems for them at an early stage.
Artificial Intelligence analyses the past data to predict attacks which can give startups an upper hand to tackle cybersecurity attacks effectively.
2. AI empowers data-driven decisions:
AI plays an instrumental role in data analytics for scaling up businesses. Advanced computing tools, machine learning, predictive analytics, and AI are ramping up new-age startups.
Startups leverage real-time insights to obtain customer behavior and make data-driven decisions based on the current market trends. AI enables startups to come by actionable insights to make step-changing decisions.
Intelligent tools that work on Artificial Intelligence can help startups understand customer needs better and position their products and services accordingly to meet the needs of the market.
AI also helps startups to gauge upcoming marketing trends by analyzing the past data effectively. From estimating future sales to forecasting marketing trends, whatever may be the goal, AI helps startups get a firm grip on the market scenario through figures. Predictive capabilities are set to reach new heights with ongoing developments in neural networks. Startup owners can now look at answers that will innovate business prediction to be more precise than ever.
3. AI automates marketing:
AI can bring a fundamental advancement into the world of marketing. Startups can use Artificial Intelligence to revamp the different facets of marketing – from content creation to handling digital campaigns to even automating email marketing efforts.
With AI in the picture, it has become easier than ever to dig out content ideas that will work for your startup in garnering more eyeballs and generate engagement. Optimizing your content on different channels to meet your business’ specific TG can be done with a single tap.
Startups can without much effort and time can broaden their reach with programmatic advertising and enhance their marketing endeavors. Today, there are multiple intelligent tools available at the disposal of marketers to manage their digital ad campaigns. These AI-powered tools seamlessly integrate media buying, audience segmentation, cross-channel execution, testing, and analysis.
What’s more, startups can also optimize their email marketing campaigns with Artificial Intelligence and machine learning. As AI understands customer behavior and estimates accordingly, startups can leverage from this and attract better subscriber responses.
4. AI hires:
Building a strong team for your startup is not an easy task. But AI can help you with that, too. Artificial Intelligence takes care of the time-taking and energy-draining tasks for you by simplifying the talent acquisition workflow.
It’s easier than ever to hire employees for a startup after AI has collected performance data to measure soft skills required for a job. Startups looking for talent can align AI with collected data to meet the traits of preferred candidates. AI-powered tools can create a survey for the applicants, which will help recruiters screen ideal candidates.
Startups can unlock their true potential by deploying AI-powered solutions to their business strategy. It will not only help them save time and money but also give them ample time to focus on business-crucial tasks.