AI has become increasingly common, moving to the forefront of conversations about technology and how it can be used in daily life. These conversations have not excluded the business community, allowing companies to embrace AI’s potential for growth and evolution.
On July 17th, the Salt Lake Chamber hosted Earl Foote, Founder/CEO of Nexus IT, for a webinar titled “Empower Your Business Now with Practical Applications of AI: How to Leverage AI to Make Informed Decisions and Drive Business Growth.” In this presentation, Foote discussed the importance of AI for business, emphasizing its competitive edge and its ability to be reusable and scalable for any business structure.
Foote offered a variety of suggestions for how AI can be used in business, some of which were:
- Customer service: Many websites use chatbots and virtual assistants so customers can receive support 24/7 with common questions and completing transactions. This also allows employees to work on more complex tasks.
- Operations: AI can help with supply chain optimization and process automation, increasing efficiency and reducing costs. Foote cited e-commerce companies like Amazon as examples of companies successfully using AI in these areas.
- Marketing: Many companies use AI for marketing, personalizing recommendations and search suggestions and using predictive analytics to determine how much product to stock. This often leads to an increase in sales, a positive for any organization.
- Human Resources: Regarding the implementation of AI in business, Foote stated, “You have to have the correct team to support your technology.” Acquiring that team can be guided by AI through the use of resume screening technology and retaining that team can be assisted with the use of AI employee engagement tools like culture surveys and recording employee feedback, he said.
- IT and Cybersecurity: AI can be used positively and negatively, and with the rise of AI comes an increase in threats from hackers and other nefarious actors. Luckily, they can be combated with AI cybersecurity systems that guard the edges of a network and monitor activity for any strange or negative incidents, stopping it and sometimes even reversing it in real time.
At the end of the presentation, Foote offered a crucial piece of advice: “You should be very thoughtful about your approach in how you want to roll out and use AI within your organization. Apply the typical business principle of ‘start small, nail it, and scale it’ when it comes to AI usage, keeping quality control and critical thinking in mind as you execute an AI strategy.” He also suggested using existing AI software and services rather than the development of your own, offering suggestions like his company Nexus IT and the services they offer.
To learn more about upcoming Salt Lake Chamber webinars and trainings, visit the Chamber Event Calendar.
