Ways AI Applications Can Jumpstart Your Startup’s Daily Operations

 

startup growth

Artificial intelligence (AI) is helping to level the playing field for startups, giving them the technology to compete with established companies. Take Chatobook, an AI chatbot designed for restaurants. Chatobook helps startup restaurants build customer loyalty, which can be the key to getting enough repeat business to survive periodic downturns. The Chatobook app enables customers to connect with restaurants any time of day via Facebook Messenger to ask questions, view menus, book reservations, provide feedback and see promotions. With Chatobook, customers stay connected with restaurants, building loyalty and boosting business.

Chatobook is an example of how artificial intelligence has become accessible for all types of businesses and at any stage of operation. Here are three ways your startup can use AI to jumpstart daily operations.

Automating Customer Service

Chatbots such as Chatobook represent one of today’s most widespread applications of artificial intelligence. Chatbots automate the handling of routine customer service inquiries, speeding up the user experience while reducing the workload on support teams. Chatbots also automatically route inquiries that require human assistance to available representatives, streamlining the ticket management process.

Interactive voice response systems are another popular AI customer service application. AI-powered IVR systems can interpret natural human speech, allowing them to present customers with menu options customized to their individual needs. IVR systems can also automatically route calls that require human assistance to the appropriate representatives, seamlessly integrating automated and live support. Software Advice provides an overview of today’s leading IVR systems.

Reducing Bookkeeping Labor

Another way artificial intelligence is helping startups is by automating bookkeeping and accounting chores. Many bookkeeping tasks involve repetitive activities such as data entry, exporting data and report generation. AI can automate these tasks, saving time and labor and reducing the number of billable bookkeeping hours. AI can also generate reports based on real-time data, providing valuable financial intelligence that companies can translate into timely decisions.

One AI application assisting companies with bookkeeping is botkeeper. The botkeeper app uses AI machine learning to integrate automated data entry and accounting chatbot support with live support from human accountants. Automated support is available 24/7, and a dedicated human accountant provides same-day response. Using botkeeper saves companies an average of 50 percent compared to using a human bookkeeper or firm.

Strengthening Security

Artificial intelligence is also helping startups strengthen their IT security operations. With today’s technology, passwords have become easy to hack and security experts have advised businesses to adopt two-factor authentication methods. One way to apply this to device security is by implementing biometric authentication methods such as facial recognition or eye recognition. AI is required for this type of image recognition, but normally depends on PCs or cloud resources due to the amount of computing power involved. Qualcomm’s Artificial Intelligence platform has now made smartphones powerful enough to handle on-device AI, enabling them to perform image recognition applications. This empowers companies to use biometric facial recognition to secure employee devices.

AI also helps IT security teams identify threat attack patterns in order to prevent them more effectively. AI can analyze network data more rapidly than human security representatives, resulting in quicker attack detection and faster threat response. For instance, Cylance PROTECT uses AI to intercept threats at network endpoints, deploying machine learning to identify even previously-unknown attack methods.

Supporting customer service, saving bookkeeping labor and strengthening security are three ways that artificial intelligence is helping startups execute their operations more effectively. AI empowers startups to harness the power of automation to perform operations more accurately and more quickly, increasing efficiency, lowering expenses and boosting profit margins.

About Mohit Tater

Mohit is the co-founder and editor of Entrepreneurship Life, a place where entrepreneurs, start-ups, and business owners can find wide ranging information, advice, resources, and tools for starting, running, and growing their businesses.

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