In today’s fast-paced and technologically advanced world, businesses are constantly seeking innovative ways to stay competitive and achieve growth. One of the most promising tools that have revolutionised the business landscape is Artificial Intelligence (AI).
Liverpool based software development consultancy Mashbo’s co-founders Steve Todd and Gavin Sherratt explore how AI can benefit you and your business.
Once upon a time…
AI isn’t new, it’s been with us a while and we’ve all been using or affected by it in some forms. The story started in around 1952 when a computer scientist named Arthur Samuel developed a program to play checkers, which is the first to ever learn the game independently. In 1955 John McCarthy held a workshop at Dartmouth on “artificial intelligence” which is the first use of the word, and how it came into popular usage.
From machine learning to process automation business of all sizes can benefit from investing into AI and the more data you have enhances how you can benefit from this powerful tool.
This cutting-edge technology has the potential to transform the way companies operate, streamline processes, and unlock new opportunities for success. In this blog post, we will explore the various ways AI can support your business and pave the way for remarkable growth.
Enhanced Customer Experience
Customers are at the heart of any successful business, and providing an exceptional experience is crucial for building loyalty and attracting new clients. AI-powered chatbots and virtual assistants can engage with customers in real-time, answering queries, resolving issues, and offering personalised recommendations. These AI-driven interactions not only save time but also ensure round-the-clock support, leading to improved customer satisfaction and retention.
Our PropTech start-up project Tenat is investing into AI customer experience to support its growth and user engagement. People’s lives no longer work 9 til 5 and with the support of AI it can deliver 24/7 customer support.
Data Analysis and Insights
In the age of big data, businesses generate vast amounts of information. AI comes to the rescue by efficiently analysing and interpreting this data, unveiling valuable insights that would be challenging for humans to discern. By understanding customer behaviour, market trends, and operational patterns, businesses can make informed decisions, optimise strategies, and identify new opportunities for growth.
Our friends and clients over at Chasing the Stigma have been investing in their data analysis and insights to support the growth of the Hub of Hope mental health support web and mobile apps.
Process Automation
Process automation is something that we’re big on here at Mashbo and AI is a game-changer when it comes to automating repetitive and time-consuming tasks. Whether it’s automating inventory management, payroll processing, or customer segmentation, AI streamlines operations and frees up valuable human resources to focus on higher-value tasks. The increased efficiency not only saves costs but also accelerates productivity, enabling businesses to scale and expand more rapidly.
We’ve been working with debt recovery agency Churchill development and implementing process automation which is gearing their business for growth. Additionally this project has recently been shortlisted for best use of technology at the Liverpool Chamber of Commerce Innovation Awards for 2023.
Predictive Analytics
Forecasting future trends and potential challenges is essential for business planning. AI’s predictive analytics models use historical data and real-time inputs to anticipate future outcomes. This empowers businesses to proactively address issues, seize opportunities, and make data-driven decisions to stay ahead of the competition.
With our property management project Tenat we are heavily involved in using AI to support our users with predictive analytics to help manage their portfolios.
Improved Supply Chain Management
An efficient supply chain is vital for businesses to operate smoothly. AI optimises supply chain management by predicting demand, optimising inventory levels, and identifying potential bottlenecks. This leads to reduced costs, minimal wastage, and faster delivery times, all of which contribute to improved customer satisfaction and loyalty.
Competitive Advantage
AI implementations can provide businesses with a significant competitive edge. Companies that embrace AI early on can create unique offerings, streamline processes, and deliver superior customer experiences, setting them apart from their competitors. Embracing AI as part of your growth strategy ensures that your business remains agile and relevant in a constantly evolving market.
Where can you go with AI?
In conclusion, AI presents a world of possibilities for businesses seeking growth and success. From enhancing customer experience to data-driven decision-making and process automation, AI can revolutionise the way your business operates. By harnessing the power of AI, you can unlock new opportunities, scale efficiently, and position your company as a leader in your industry. Embrace AI today and witness the transformational impact it can have on your business’s growth.