How AI Can Help Businesses Boost Revenue and How Global Admins Can Help
What is AI and Why Does It Matter?
AI stands for artificial intelligence, which is the ability of machines to perform tasks that normally require human intelligence, such as understanding language, recognizing images, making decisions and learning from data. AI is not a single technology, but a collection of methods and tools that can be applied to various domains and problems.
AI matters because it can transform businesses in many ways. According to a survey by McKinsey & Co., 22% of companies using AI said the technology accounted for over 5% of their 2019 earnings before interest and taxes1. Additionally, revenue generated by AI increased year over year in the majority of the business functions using AI technologies1.
Some of the benefits of AI for businesses include23:
- Boosting efficiency and productivity by automating routine tasks and freeing up human workers for higher-value tasks
- Improving the speed or consistency of service by reducing errors and delays
- Using customer insights to inform decision-making by analyzing data and predicting outcomes
- Uncovering opportunities for new products and services by identifying gaps and needs in the market
- Enhancing customer experience and loyalty by providing personalized and convenient interactions
- Increasing innovation and competitiveness by enabling shorter development cycles and faster time to market
How Can AI Boost Revenue in the Short Term?
AI can boost revenue in the short term by helping businesses optimize their existing processes, products and services, as well as create new ones. Here are some examples of how AI can do that:
- AI can help businesses improve their marketing strategies by segmenting customers, targeting ads, generating content, optimizing pricing and measuring ROI3.
- AI can help businesses increase their sales performance by generating leads, qualifying prospects, recommending products, closing deals and upselling or cross-selling3.
- AI can help businesses reduce their costs by streamlining operations, detecting fraud, preventing waste, improving quality and enhancing security3.
- AI can help businesses expand their reach by entering new markets, reaching new customers, creating new channels and partnering with other businesses3.
How Can Global Admins Help You Implement AI?
Global Admins is an IT consulting firm that specializes in helping businesses leverage AI to achieve their goals. Global Admins can help you implement AI in the following ways:
- Global Admins can help you assess your current state of AI readiness and maturity, identify your business challenges and opportunities, define your AI vision and strategy, and prioritize your AI initiatives4.
- Global Admins can help you design and develop your AI solutions, using the best practices and tools in the industry. Global Admins can also help you integrate your AI solutions with your existing systems and platforms4.
- Global Admins can help you deploy and manage your AI solutions, ensuring that they are scalable, reliable, secure and compliant. Global Admins can also help you monitor and measure your AI performance and impact4.
- Global Admins can help you train and empower your staff to use AI effectively, as well as foster a culture of innovation and collaboration. Global Admins can also help you communicate your AI value proposition to your stakeholders4.
Conclusion
AI is a powerful technology that can help businesses boost their revenue in the short term by improving their efficiency, quality, customer satisfaction and innovation. However, implementing AI is not a simple task. It requires a clear vision, a robust strategy, a skilled team and a trusted partner.
Global Admins is an IT consulting firm that can help you implement AI successfully. Global Admins has the expertise, experience and resources to help you design, develop, deploy and manage your AI solutions. Global Admins can also help you align your AI initiatives with your business objectives and values.
If you are interested in learning more about how Global Admins can help you leverage AI to boost your revenue in the short term, please contact us today.