How Artificial Intelligence is Shaping the Face of Entrepreneurship
Entrepreneurship and starting out on your own as a small business is exciting, but can be overwhelming. Artificial intelligence (AI) is just one of the many challenges that businesses must consider in order to be an effective entrepreneur. Our current business landscape does not allow for the set-it-and-forget-it mentality of the past. Entrepreneurs must continually be accustomed with new technologies that are relevant to their potential clients, and be up to speed on how to leverage these technologies. Artificial intelligence is just one of the many technologies that entrepreneurs need to master before being successful online and in a brick and mortar store. Here’s why:
Personalized Ecommerce is Everywhere
Personalization must be multi-channel and multidimensional. Mobile, website, brick and mortar. While no one likes to think of your phone as a tracking device, when you use your phone for online shopping, to read reviews, directions, searches, store specific apps and more, the information it gathers is extremely personalized and spot-on. With the assistance of collaborative filters such as best sellers, recently viewed, trends, bought together, and more, personalized purchase suggestions are on every website your visit–whether it is an ecommerce website or not. Native ads differentiate from regular ads because they blend into the digital marketing environment they are posted in. Native advertising feels organic because it fits right into the page and content the potential customer was already reading. These ads can be in-feed (like on Facebook or Twitter), in recommendation widgets (such as commonly bought together), or custom content (content created for a specific brand that is high quality and engaging)–but the unifying element is that each type of ad is personalized for the reader. Not only is personalized ecommerce everywhere from mobile apps to websites and brick and mortar stores thanks to artificial intelligence, customers have come to anticipate and appreciate the suggestions.
Artificial Intelligence Devices Have Merged Into the Home
These little, yet mighty devices and personal assistants might just be computers, but they can do anything and everything from updating shopping lists, making recommendations, and even doing the ordering for you at the command of your voice. Not to mention businesses can make the process easier to the computer algorithms by creating Alexa Skills and Google Actions. Alexa Skills and Google Actions are small software programs that act like apps. These “apps” allow customers to activate their favorite brands and products without having to use their phone app. For example, for Alexa, you can play Jeopardy by saying, “Alexa, play Jeopardy.” Jeopardy has created a skill that allows you to play the 6th unused clues–one from each category–for that day. These skills are not just game based, in fact some of the most helpful skills are shopping or home organization based. You can tell Alexa to make a shopping list that is updated automatically in real time. So while you are out shopping, your kids can add to the list in case there was something that might have been forgotten–plus, your kids don’t have to have access to the technology via a tablet or phone–they simply have to say “Hey Alexa! Add oreos to the shopping list.” If you have a Prime membership, Alexa can even walk you through a purchase so you can buy things hands-free. It can be hard to believe these mighty little personal assistants are just artificial intelligence (AI) devices. Entrepreneurs can leverage these artificial intelligence devices by creating Alexa Skills and Google Actions that would help the end user.
Artificial Intelligence is not something from the movies anymore. Artificial Intelligence is in our homes, phones and brick and mortar stores making suggestions for us and helping to personalize our shopping experience and suggest potential products and services. Entrepreneurs must be aware of how their brand is presented across all channels to ensure their products and services can be found by these artificial intelligence devices. Because AI devices are computers, consistency is key, if your brand isn’t consistent you would highly benefit from branding services. Entrepreneurs must leverage the integration and immersion of artificial intelligence into everyday life in order to be successful in the ever-changing digital landscape.