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Don’t Panic: AI is Here, But Don’t Jump for the Buzz

Posted: Nov 2023

Artificial intelligence (AI) is a hot topic these days, but it’s important to remember that it’s not new.
Machine learning, a type of AI, has been around for years, and businesses have been using it to
improve their operations in a variety of ways.

The recent buzz around AI is largely due to a breakthrough called generative AI, like ChatGPT, which can
understand human input and provide meaningful responses based on the information it is given.
This has led to the development of new and innovative AI applications, such as chatbots, virtual
assistants, and self-driving cars.

While AI has the potential to revolutionize many industries, it’s important to focus on practical applications that will improve your business. Here are a few examples of how businesses are using AI today:

  • Classifying new tickets: AI can be used to classify new tickets coming quickly and accurately into a customer support system. This helps to ensure that tickets are assigned to the appropriate people and that customers receive the help they need quickly.
  • Analyzing customer data: AI can be used to analyze customer data to identify trends and patterns. This information can then be used to improve customer service, develop new products and services, and target marketing campaigns more effectively.
  • Automating tasks: AI can be used to automate repetitive and time-consuming tasks, such as data entry and accounting. This frees up employees to focus on more strategic and creative work.

When considering whether to implement AI in your business, it’s important to avoid jumping for the buzz. Just because a technology is trendy doesn’t mean it’s the right fit for your business. It’s important to carefully evaluate your needs and choose AI applications that will have a real impact on your bottom line.

Here are a few tips for choosing the right AI applications for your business:

  1. Focus on practical applications. As mentioned above, it’s important to focus on AI applications that will have a real impact on your business. Avoid jumping for the buzz and implementing AI applications just because they’re trendy.
  2. Start small. Don’t try to implement AI on a large scale right away. Start with a small pilot project and gradually expand your use of AI as you learn more about the technology and its
  3. Measure your results. It’s important to measure the results of your AI implementations to
    ensure that you’re getting a return on your investment. Track key metrics such as customer
    satisfaction, employee productivity, and cost savings.

By following these tips, you can avoid the pitfalls of the dot-com bubble and implement AI in a way that will benefit your business.

Here are some ideal applications for AI today:

  1. Classification of information: AI can be used to classify information quickly and
    accurately, such as classifying customer emails, product reviews, or medical images.
  2. Improved automated help systems: AI can be used to improve automated help systems,
    such as chatbots and virtual assistants, so that they can better understand the context of
    the user’s request and provide more helpful responses.
  3. Process automation: AI can be used to automate repetitive and time-consuming tasks,
    such as data entry, accounting, and customer service.
  4. Customer recommendations: AI can be used to improve customer recommendations by
    understanding customer behavior instead of just data. For example, an AI-powered
    recommendation system could recommend products to a customer based on their past
    purchases, browsing history, and reviews of similar products.

By focusing on practical applications of AI, businesses can improve their operations and gain a
competitive advantage.

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