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You’ve certainly heard about generative AI buzzing and might be wondering, what’s in it for you. Many of you are already enjoying its benefits. Others are just starting to explore. One way or another, there may always be some opportunities left unnoticed. So, in this blog post, we’ll review eight concrete uses of generative AI for you to check if your small business could benefit from any of those.
First things first, let’s define what generative AI is. In a nutshell, it’s a form of artificial intelligence that is centered around creating new content. Imagine you have a huge collection of data. This could be text, images, audio, or anything. The tool looks at this data and learns patterns, styles, or structures from it. Then, it uses this new knowledge to create new content that resembles the original data but is unique. For instance, it can write new articles based on the style of existing ones. Or, it can create new product designs inspired by a database of existing models.
It’s important to note, though that AI doesn’t “think” or “create” in the human sense. That is, it doesn’t have original ideas or consciousness. It works within the bounds of the data it’s trained on. So if you view it as an ultra-smart robot that can innovate like a human, that’s not quite right. It’s a powerful tool, but it operates based on algorithms and the data it’s fed.
For businesses, it can be a potent ally in many areas. It can help with content creation, design, and problem-solving provided you understand its capabilities and limitations. The key is to remember that while it can complement human creativity and efficiency, it cannot replace the human touch.
We’ve all been there — we just stare at a blank page trying to come up with content ideas but nothing happens. The way out for a small business is to hire a super skillful creator. But before you go and spend your money, feed generative AI your brand voice and style. You’ll see that it can churn out blog posts, social media updates, and even eye-catching graphics. After some practice, you’ll have a constant flow of on-brand content.
Tip: Start by feeding the AI examples of your best-performing content. This helps the tool learn your style and what resonates with your audience. Regularly update it with new content inputs to keep the style fresh.
We all want to send emails that hit the mark every time. But to do so, we’d need to put in quite a lot of effort. AI can help. It can analyze your customer database, understand each customer’s preferences, and craft emails that feel hand-written. Plus, each email will be personalized.
Tip: Segment your customer data based on past purchases, interactions, and preferences. The more detailed the data, the more personalized and effective the AI-generated content will be.
Have a product idea but are stuck on the design front? That’s understandable. Try letting AI step in. Provide your basic concept, and ask it to produce several design prototypes. Even if none of them is perfect, you’ll still get some inspiration boost.
Tip: If you are serious about employing the tool for product design, consider using generative ai consulting services for this. They can guide you on how to input your initial concepts into the AI and interpret the generated designs. This is something you (most likely) won’t be able to do on your own.
What makes AI-powered bots different from average automated responders is that they’re programmed to be much more custom. That is, they can provide personalized recommendations, answer queries based on past interactions, and handle basic troubleshooting. So if your small business already has an automated bot, a generative AI-powered one is the next logical step.
Tip: Regularly review and update the AI’s training data to include recent customer queries and feedback. This is necessary for your bots to provide relevant and accurate responses.
Let’s say you’re planning your next product line. GenAI can study market data, pull out what’s trending, and spot upcoming shifts. In effect, this is the same as an in-house market analyst. But it’s free. Of course, you’ll need time to understand how it’s working but then, you’ll have useful informative reports on what’s hot in your industry so it’s certainly worth it.
Tip: Use specific market questions to guide the AI analysis. This way, it focuses on finding answers and trends that matter most to your business.
If you want your website to always feature the latest industry news, GenAI can help. Similarly, if you want your app to constantly offer fresh, engaging content, it can be of use, too. The tool can auto-update these platforms and tailor content based on what your users are currently interested in.
Tip: Regularly monitor the AI’s content updates for relevance and accuracy. Remember, while it’s excellent, it can make mistakes. Set clear content parameters for the updates.
The tool can, among all else, craft custom training modules that fit exactly what your team needs to know. This means it’s time to say goodbye to generic training programs! Your staff gets learning materials specifically designed for their roles.
Tip: Input detailed information about your business processes into the AI. The more specific the data, the more tailored the training content will be.
Last but not least, you can feed AI your financial history and it may project future trends. It will act as a financial advisor who helps you see where your business might be heading in the next quarter or year. Of course, you should treat this with caution. Just as in the case of product design, generative AI services may be of use if you want to achieve serious success in this field.
Tip: The financial data you input should be structured and up-to-date. The accuracy of the AI’s forecasts depends heavily on it.
