How AI Can Create a Competitive Advantage in Business?

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Nowadays, the need for companies to innovate is indisputable; it is the best way to maintain competitiveness in a specific environment. 

Having a website for your business is no longer enough. After the launch, you need to optimize the site to reach a wider audience, and using AI can go along way to achieve this. An example would be translating your website to other languages using online services to reach a far wider audience with valuable content, or creating other competitive advantages from Artificial Intelligence (AI) tools and automated systems. 

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Artificial Intelligence (AI), explained in simple words, is the concept by which machines think like humans; behaviors considered intelligent are shown through programs. With AI, our daily lives and experiences become more efficient.

In this post, we will help you understand how AI can create a competitive advantage for your business. 

Artificial Intelligence (AI) as a Tool to Create a Competitive Advantage 

Artificial Intelligence (AI) is within the scientific field of computer science, which covers almost all areas and is getting more popular every day. In business, with the help of AI, you can potentiate your company until you reach a competitive advantage. 

You must take into account that the more sustainable your competitive advantage is, the harder it is for your competence to neutralize this advantage. Using Artificial Intelligence, you’ll provide a 100% sure competitive edge to your company. 

What Is the Competitive Advantage? 

When we talk about competitive advantage, we refer to the capacity a company has to produce any good or service more efficiently than its competitors. This is actually an easy task that can be with an Artificial Intelligence software since it can offer automated services with a nonexistent error margin. AI ensures successful results, positioning your service as the best option for your customers. 

Differential Advantage 

A differential advantage occurs when the products or services of a company differ from those offered by its competitors and are considered superior. This is definitely something you can achieve with the help of AI, thanks to its unlimited capabilities in each area of Digital Marketing. It can also come in handy in other industries, including design, customer service, finances, sales, security, and others.

Artificial Intelligence(AI): A New Frontier of Competitiveness 

AI is not only present in the digital marketing world, but it can also help your company to scale. Although some applications of Artificial Intelligence may seem like science fiction, they are already a reality. Some of which are:

Content Creation

This has nothing to do with writing tons and tons of repetitive and meaningless texts; AI allows you to create not only original content but also interesting ones from a series of basic data. Today, many businesses use this technology to generate news and attract traffic to their sites. It is also essential to manage content in several languages, and a good example would be with fast translation services such as The Word Point.

Personalized Content 

Another competitive advantage businesses can enjoy from Artificial Intelligence, is that it offers personalized content to each user. The AI tool analyses and collates data that already exists on the Internet. It automatically selects the most relevant and valuable content on a subject to the appropriate user.

Sales and Customer Service

No company should neglect this area if they aim for success. Today, some companies offer systems based on artificial intelligence, including cognitive-capable software, which can read and understand several languages to assist the diverse needs of customers, making decisions at high speeds. This also facilitates customer services by supporting its users with voice, web, and text messaging services, without language limitations.

Read: How to Improve Customer Experience with The Help of Artificial Intelligence.

Programmatic Publicity 

This area of Artificial Intelligence works well in Digital Marketing to automate the purchase of publicity from a specific niche. Programmatic publicity enables a quick connection between brands and target customers, showing them products and services based on their interest. 

Predictive Analytics 

Artificial Intelligence allows businesses to anticipate their users’ needs, offering them solutions to those needs beforehand, thanks to predictive analytics. This type of analysis uses data, algorithms, and various techniques to determine the probabilities of purchase based on historical data. In other words, this tool analyzes your most recent searches to offer you services tailored to your needs. For example, if you need to build a website, predictive analytics simply connects you to the best site builders, ensuring that you get the best quality of services.

Artificial Intelligence predictive analytics

Picture 1. AI predictive analytics

Contributions of Artificial Intelligence (AI) to Web Design

While we continue to see AI infiltrating various industries, the world of web design happens to be strongly impacted. Today, there are several tools available, which use AI for web design.

These automated machines and tools have greatly improved the efficiency of programmers and web designers. Some of the advantages AI software has to offer web design are:

  • Accelerating the development process of product and services
  • Customers are continually updated on the progress of their orders 
  • Design tools and workflows are more efficient, allowing your business to operate in a more dynamic environment. 
  • A well-implemented AI tool reduces the need for a graphic user interface. 

The implementation of AI in graphic design is nothing but a tool that allows its users to work efficiently with a far greater result margin.

Artificial Intelligence (AI) in Making Financial Decisions 

Thanks to AI, companies can use automated machines as indicators to analyze a complete perspective of the objectives of the company, allowing them to make the best decisions for the company. With the use of AI software, business owners can identify and resolve problems with their companies, including facilitating financial decisions. It allows for an accurate prediction of the financial discrepancies within an organization, correcting human errors in financial strategy planning, and subsequently leading the organization towards the achievement of their goals. This is a great way to access the financial lags early enough within a business before it causes any major damage in the future.

Artificial Intelligence finance decisions

Picture 2. AI as an accurate prediction of the financial discrepancies within an organization

Final Thoughts

In general, AI finds correlations between data, generating hypotheses, storing and remembering results, and continually updating itself based on past experiences that worked, which is helpful for businesses in this digital era. It comes in handy in improving the efficiency of various teams and sectors within your company, hence, scaling your business and increasing revenue.

The practical usefulness of Artificial Intelligence is infinite, especially in the world of digital marketing. It comes with unlimited features and tools that will allow your company to achieve a great competitive edge over your competitors. Once you’ve figured out what digital tools and automated systems work best for your business, you can begin to enjoy great success in expanding your audience reach, as well as your revenue.

Dominic Beaulieu is a gaming enthusiast turned tech writer who covers an impressive variety of topics like design, development process, game marketing, and helps developers with spreading the word about their creations. He is a fluent French speaker, who also has mastered Dutch, Norwegian, and Swedish. He has an experience in software translation, tech counseling, project management and digital marketing tailored for startups.

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How AI Can Create a Competitive Advantage in Business? was last modified: December 5th, 2019 by student@paldesk.com
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