Top 5 Things AI Can Do For Your Business
Welcome to another episode of the Marketing Automation Made Simple Podcast.
You’ve heard it on the news, but in this episode, Milena and I are sharing our thoughts on the new paradigm shift, of tectonic proportions, that is hitting the technology space and will force all of us to change how we do ‘tech’ forever. I’m sure many of you have heard of – ChatGPT and OpenAI?
If you’re a business owner, you are probably wondering how AI could affect your business. ChatGPT has the potential to revolutionize how businesses interact with customers, providing a more natural and conversational experience, similar to how a real person would.
In this episode, we’ll explore the development of ChatGPT and the various ways it can be used in the business world. You don’t want to be left behind!
An interesting study published by Harvard Business Review found that companies using AI for sales can increase their leads by more than 50%, reduce call time by 60-70%, and have cost reductions of 40-60%. (source)
Tune into the episode on Spotify, Apple and Audible to listen.
What is AI?
AI stands for Artificial Intelligence. This means that an “intelligent” computer uses its own intelligence to think like a human and perform tasks when you prompt it.
This is different to Machine Learning – which is another tech buzzword that can confuse many non-techy people. Machine Learning pertains to AI, and it’s a subset of AI, but unlike AI, it requires human intelligence to help with data input that it then uses as an algorithm to get you the outcome you want. For example, if you want to track what is a good sales lead – you need to identify all the criteria of what makes a “good” sales lead, well in advance and update this information into your database, a CRM. Most CRM’s in the marketplace today will have built in machine learning technology that will help you calculate lead scores and rank all contacts based on your ideal criteria for a good lead.
Yes, every business will have a different criteria. Also, all leads are not created equal so having something in place to help you sort through all the good leads is a necessity – especially if you handle a high volume of leads.
Why is everyone talking about AI in 2023?
With the onset of ChatGPT, the world has now seen for the first time in the history of technology what AI is capable of producing… and this is equally both scary and exciting.
ChatGPT is a powerful and revolutionary language model developed specifically for generating natural language responses in a conversational context. Built on the same framework as the GPT (Generative Pre-training Transformer), it is designed to generate human-like text when given input from a user.
This makes ChatGPT a potentially valuable tool for a variety of business applications, where natural, human-like conversations with customers or clients are essential. It is an exciting development in the realm of conversational AI, and its potential is immense.
ChatGPT allows businesses to engage with customers in a more natural, human-like way.
It can be used to create custom chatbots that understand and respond to customer queries as well as generate content that is specific to the customer’s interests.
The idea of ChatGPT isn’t new – but what started as an “open source” idea by some tech insiders, has now turned into a privately owned business as the majority shareholder is Microsoft (Source). The implications of this remind me of good ol’ Social Media companies who benefit from user generated content – given that all users of ChatGPT are ‘freely’ contributing in growing the AI learning machine to benefit private investors.
Top 5 Benefits of Using AI in Your Business
1. Facilitate automation of repetitive tasks
2. Improve customer experience with automated chatbots
3. Streamline business processes
4. Analyze data for better decision making
5. Generate cost savings and increase efficiency
The opportunities for using AI in your business are huge. It can be an enormous time saver especially when it comes to repetitive tasks like answering FAQ’s from customers, and although this is nothing new, the AI is very close to a human-like conversation, which makes it exciting.
In this episode we list all the things a business owner can do to save time on repetitive tasks such as:
- Compiling research for content development
- Drafting marketing content for blogs, social media, etc.
- Brainstorming ideas – no more staring at a blank page
- Automating parts of the sales process your sales teams don’t like to do
- Delivering after care services when customers buy products
- Translating audio into text
- Editing your videos and images for social media instantly
Although this technology is exciting, it’s not perfect. Here’s why:
- The information is limited to up until 2021
- There are many built in biases – i.e. ask ChatGPT to write a poem about Trump vs Biden, and you will see what we mean
- AI requires a lot of training and fine-tuning and normally this is done by us, the users!
- You have to be good at asking expert questions – i.e. if you’re a copywriter, you can benefit from AI to become more efficient; however ChatGPT won’t be able to replace you because your customers (and ChatGPT) don’t know what a good, high converting copy looks like for their unique situation.
- Potential for automated cyber attacks – these attacks can scale faster than ever before
- Innovation killer – could we all end up writing the same content? The sea-of-sameness is very real as we rely on the same input of data to get answers.
AI is an intelligent software but we think it will struggle to replace jobs. There are many tasks that are done by humans that require unique skill sets, critical thinking, and strategic decision-making that is based on your interpretation of your understanding of your industry and your clients the way only you do.
- Will people stop using Google for research? Unsure if this would happen as Google is about helping you do your research with sources attached – vs – ChatGPT can provide answers, but normally it doesn’t provide sources, just “its” opinion based on Wikipedia and other media pages. It won’t give you options or choice of information.
“Technology destroys jobs and replaces them with opportunities.” Naval
We see opportunities for AI to make many professions efficient and some of the white-collar job workers that require problem solving skills could find themselves referencing AI for research – i.e. engineers with software problems.
ChatGPT isn’t the only one with all the superpowers!
I’m sure by the time we publish this article, our suggestions may be outdated – ha! Regardless, below you will find a few more apps we listed that business owners can use today to save time on boring tasks:
AI-enabled, real people’s voices
Go from text to speech with a versatile AI voice generator
Make studio-quality voice overs in minutes.
Use Murf’s lifelike AI voices for podcasts, videos, and all your professional presentations.
Free AI-generated stock photos
AI-generated stock photos for free. Use in any project without worry about attribution.
The smartest AI team assistant (similar to Fathom for Zoom).
Sembly transcribes, takes meeting notes, and generates insights for your professional meetings
Poised is the AI-powered communication coach that helps you speak with confidence and clarity. Private and secure, an essential tool for digital-first workplaces.
Huemint uses machine learning to generate colours for graphic design. Instead of generating a flat palette and leaving you to figure out how to apply it, it can generate colours based on how each colour will be used in the final design. For example, website look and feel, product packaging and design branding, clothing and shop signage and other graphic design elements.
Augment your voice in real time or after you’re done with your videos and presentations. “Create the specific voice you need for your project. It might be the voice of a famous actor, a captivating voice-talent, a friend or a grandparent. It might be your voice at a younger age, even as a child.”
Get instant answers to any question backed by online sources. It’s great for research in case you need to make references to any cited text. (this is something that ChatGPT is missing!)
HebbiaAI – Helps you make decisions
Make decisions 10X more confidently and quickly with AI-powered insights.
Website: – https://www.hebbia.ai/
MagicBlogAi – Write blogs – Your AI
Write high-quality long-form blog content that’s 100% original and SEO optimized in just one click
SurferSEO – optimize your site for SEO
Surfer will give you a SEO workflow to boost your organic traffic, increase your visibility, and improve your rank.
Create amazing web content with AI copywriter.
Free app for Zoom https://fathom.video/, take notes and record audio and video every time you host an important meeting
Tune in to our podcast ‘Marketing Automation Made Simple‘ to listen to the episode about the Top 5 Things AI Can Do For Your Business.
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Head Honcho | Marketing Automation Expert | Evil Twin Sister
Jovana is the Founder of Bumper Leads - a marketing automation agency that helps businesses simplify and automate their sales and marketing systems to help them save time and money.
She is a former body builder turned fast food junkie.
When she is not watching Cobra Kai on Netflix, she shares interesting marketing advice on our podcast called Marketing Automation Made Simple. This is where she helps overwhelmed business owners build smart marketing growth systems so they feel excited and in control of growing their businesses.
You can always follow her on social media to see what she's up to.