Artificial intelligence is commonly used nowadays, and it is being increasingly implemented not only in business but also in our daily lives. First introduced during the 1950s, AI involves using digital/computer software that can engage in activities resembling humans. Some of these activities may include planning, learning, executing, and even problem-solving.
AI technologies (such as machine learning) are able to process a large amount of data in seconds.
This data is usually captured through the sensors, connected devices, and technologies comprising the internet of things (IoT).
Deep learning includes the specific machine learning versions that use the neural network and perform nonlinear reasoning. New AI-based technologies and software can have even more advanced and complex functions. The related technologies are immensely beneficial for startups and new businesses.
AI-Based Transcription (Speech-to-Text)
The AI-based speech-to-text transcription software can convert audio or video files to text and make it easy for businesses to extract and analyze useful information from it.
Although AI transcription software is constantly improving, if you need a polished transcript, use a professional transcription option that could be the next level after the automated transcription process.
Obtaining insights from the meetings
It’s crucial for startups to reduce their operational cost and be productive at the same time. With the help of AI software, businesses can quickly grab all the essential points and make the “to do” lists.
They no longer need to repeatedly go through the audio files and jot down all the details to analyze them.
Useful for various industries
Businesses and startups from different industries can make use of the transcription software. Media businesses can transcribe the interviews and save time and resources.
Universities and educational institutes can also transcribe the MP3 files and make the learning process more efficient.
SEO
The Search Engine Optimization methods and techniques aim to improve the websites and the presence of a business online. SEO ensures that the web pages are ranked higher on the search engine results pages (SERPs).
As well-ranked web pages and websites will have more traffic, SEO ensures better revenues and market reach.
The best transcription software can analyze the video and audio files and create web content that can provide SEO benefits.
It may also help make the database searchable, create content fast and with lesser expenditure, and analyze the competitor’s content strategies.
Business Analytics
Due to the resource and time requirements, startups may not find it feasible to collect, clean, and analyze data. Hiring business analysts and other specialists could be pretty expensive.
However, AI’s best software is a cost-effective method to carry out these repetitive tasks effectively and to the satisfaction of the startups.
Allied technologies such as sentiment analysis and machine learning algorithms can quickly analyze a huge amount of data, track customer preferences, and suggest reports that can be used for appropriate forecasts and decision making.
Advertising
Social media networking platforms and websites, including Facebook, have already shown how effective the technology can reach out to customers and target them.
The Google search engine and the algorithms also use AI technology.
With AI available, there is no longer a need to hire many marketing managers.
AI screens the data to pinpoint the more receptive target customers and helps companies curate their advertisements and offerings following customers’ needs and desires.
AI Chatbots
AI Chatbots can be a full-time operations executive of a new business and startup that operates at an abysmally low cost. It may help customers and web surfers navigate through a business platform or website, guide them to particular web pages, and entice them to make purchases.
Startups often have a limited staff and can use Chatbots, ultimately reducing their busy employees’ stress. AI Chatbots can provide more efficient customer service devoid of issues such as errors and wastages.
The prompt services improve conversion rates as well as retain the customers. When customers find that a startup uses the latest technology like the AI Chatbots, it improves its reputation.
AI-Based Hiring
The best talent may go to the larger companies and organizations. Startups may not be as attractive for talented and experienced specialists. However, AI technology and software also ensure that the startups can hire the best talent and employees.
AI programs can quickly scrutinize many interviews and shortlist the employees based on the attitudes and skills needed for a job. Further, artificial intelligence methods and tools can also carry out the testing functions and ensure that the best candidates are hired.
AI can take input from the previous and current hiring experiences of the company and build more credible and effective recruitment campaigns based on it.
Even non-technical people can now assess the AI platforms. However, to make the most of it, businesses need to acknowledge any existing capability gap. Even the starters need to have people to identify the inefficient processes or analyze AI-generated reports and findings. Startups don’t need to hire a full-time machine learning specialist for the purpose.
They can reskill their developers or have part-time consultants to make effective and efficient use of AI software and technologies. Companies may also implement AI software and technologies in a step-by-step way.
They can launch a pilot project initially, which will prevent many of the risks they may face.
Conclusion
The AI technology and the software have immense benefits for businesses, including startups. Startups can ensure that they can reach out to more customers, provide more efficient customer service, and have world-class and successful marketing campaigns through the use of AI and allied technologies (including transcription and speech-to-text technology).
