How Artificial Intelligence Impacts Startups
Mildred Austria

You've probably already heard about how artificial intelligence (AI) is slowly but surely sweeping the business sector and making things easier for large companies. AI is constantly used to make cost-effective improvements, as well as to gain an advantage over the rest of the competition.

That said, what about newer companies? Is AI something that only experienced industry leaders can utilize? It's a valid question to ask, as there are so many struggling startup owners out there looking for any advantage they can use in today's digital world. So how exactly does AI impact startups, and can you use it to your advantage to help expand your new business?

A matter of information

There's no denying that the amount of data available to a new company is staggering. There are many ways to track relevant metrics that it can be overwhelming to most first-time business owners. As a result, business management is learning about how best to harness the data.

Such is the reason why analysts are in such high demand. Their ability to make good use of data makes them indispensable for most business owners. It’s also the reason why artificial intelligence is so successful. It can help streamline so many processes, including video annotation, workforce management, and so much more.

Understanding AI and accessibility

One of the reasons why AI is useful, despite being a form of emerging technology, is that it can help deal with human error. For example, a company can use AI transcription services to help with closed captions for their video content. Not only does it help gather the support of those who benefit from closed captions in videos, but it also offers a means for search algorithms to index content. Adding a transcript to videos is a form of search engine optimization (SEO), allowing even the most inexperienced company owner to benefit from robust marketing strategies.

Those who are looking to make their company more accessible will naturally stand to benefit from what AI has to offer. It also helps that accessibility is one of the keys to a successful business venture. It’s easy to support a company that takes the time to be more accessible to its target demographic. It also has the added benefit of taking human error out of the picture. While it might take some time for mainstream AI to master accurate transcription, there are many services that offer accurate transcription services for an affordable price range.

The subtle impact of customer service

For startups, it can be quite challenging to adopt a meaningful customer service system without outsourcing. It's quite similar to IT managed services, where it's best for newer companies to get the help of professionals to get the job done. The good news is that most types of customer service roles can be filled by artificial intelligence. In addition, there are many professional services available that offer a full system for customer service without effort.

Quality customer service matters, which is why most newer companies are recommended to keep an active social media account no matter the situation. If users are happy with the customer service, it can go a long way to boosting a new company’s overall popularity.

Creative and core tasks

Many company owners have a hard time expanding their reach because creative and core tasks take a secondary role in keeping the company afloat. As a result, most company owners and their staff are stuck performing the most tedious tasks to get the job done, which doesn't free up time and resources to do anything else. The dawn of AI allows companies to use AI services for the most tedious processes, giving the creatives of your company the freedom to do what they do best.

The future of AI

One of the most exciting parts of AI is that it’s still considered an emerging technology. What it means is everything artificial intelligence can do today is only the tip of the iceberg. There is so much more that AI could potentially accomplish, and it’s bound to improve as time goes by. Larger companies are typically best-equipped to handle AI, but there will come a time when even the smallest company can use quality AI services to deal with various issues.

Artificial intelligence is a fascinating subject and one that undoubtedly impacts companies no matter their size. Even brand new companies have a chance at success with the help of emerging tech such as AI. All you have to do is look at what's trending to figure out the best tools for your business.