FIR 97: Bite Size (right size!) AI For Your Business

Financial Investing Radio

Getting the right amount of AI in your business is critical. If you pursue predictions that are too far reaching it can over burden your business, ultimately losing customers.

But, if you don't use AI now, you are late, and are already behind your competitors. This isn't a game of leap frog, this is pivoting your business towards high-probability targets with greater insights, at an increased rate.

Okay, Hey, everybody, welcome. This is Grant, welcome to another episode of ClickAI radio. All right, so bite size, right size AI for your business. What does that mean? Well, when you think about the continued pool right on time and resources for the small to medium business owners, it's no good to get AI predictions that are way beyond our reach, right? I mean, if the size of the effort and the work to accomplish that prediction is too big or too much, that doesn't do us any good. All it does is frustrate us. So we need to course be able to grow our business one step at a time. And in fact, we often will call that a smart Step Smart in the sense that it's a progression towards a goal or a target smart also and that it's the right size.

So here are a few pieces to think about when we're going to do a smart step. We go through, of course, the all the activities of running our business. But there's a point then where we start working on the data, and figuring out, hey, if I wanted to go solve a particular problem, right, if I had a particular target that I wanted to go after we start thinking about that target. But what we do is then we ask ourselves, do I have the business information? In order to accomplish that? Some people might say, hey, I'd like to be able to know are my buyers male or female? Well, that starts to become a bit of a challenge, right? Because lots of times that gets into personal information, right? Things that you can't really share PII right stuff that you can't pass along. But there's other things we can go after. So for example, we might want to know, what are the periods of time or the factors that contribute to our refunds that are increasing? Maybe hypothetically, right? Or we might want to know, hey, what particular conditions are contributing to us selling a product more effectively in one region or another?

So what you do is you think about what target Can I go after, and, and the AI comes back with things like, hey, if you do these things, you'll increase your sales promotion activities, on Thursdays and Fridays, then you, you know, probabilities are, whatever 90% 85% that you'll see an increase in sales. Or if you increase the price of a particular product that you're selling, then your refunds actually will reduce, because what it does is it will narrow the field of those people that are buying and of course, you'll get more highly qualified buyers. Alright, so there are other kinds of things that we go after, when we take a smart step, we might say, well, they I could come back and say, well, in order to reduce your refunds, quit selling through this particular affiliate, if in fact, you're using affiliates, or whatever it might be, the goal is to get the right amount of AI applied, and get that put into the business long enough, and in a short enough time, but then to execute long enough so that you can see the effects of them without overburdening your organization. If you took on too much and actually destroyed your business because you took on too much. The AI then actually turns out to be counter for the business. All right, let's look at a report here. I was evaluating something from Forbes, the, you know, the forbes.com. They have this data section on what are the things that are being you know, where AI is being used today, there are four or five areas I'm going to call out here. One of the areas that they focused on is in this area of marketing, which is what I just started talking about marketing and sales. Those are the first two areas. And in fact, they made a statement. The statement was if your company isn't using artificial intelligence and marketing, you're already behind. And that has really been the shift just in the last 18 months, right. Not only can AI help develop your marketing strategies, but it's also fundamental and instrumental in executing those as well. So I was talking about the smart step, a minute to go.

So if you think there's the activities or running your business, there's identifying a target, there's applying AI to your business information, and then reinventing at that point, right. So this is a series of reinventions on the business, you can reinvent just a small piece a small step at a time. And the reinvention might be, hey, we will stop or reduce our selling activities in a particular region, right, because the AI gave some insights on them. And so you do that for a period of time and you monitor the effects of that that's a critical activity, we find that a lot of organizations will go do the initial act, you know, step right, try to move forward, of course, but won't do the level of monitoring and keep the AI engaged. And that's actually a mistake. All right. Another area that Forbes pointed out here is sales, of course. And obviously sales has got a human element to that. But predicting customer needs improving communications, for you know, sales, forecasting, ai does a great job with those things. So I'd say if you're not applying AI to marketing and sales, you're you're already behind and your competition isn't just going to get ahead, meaning the ones that are using AI won't just get ahead, it will actually be a leapfrog. We call it a digital leapfrog. They will leap ahead so far and so quickly, that it will take longer for you to catch up than historically, it has been for you to compete with, with other organizations. All right, that's the good and the bad of it. Let's see AI being used in r&d, of course, right. I mean, we obviously see that taking place today. It helps some research problems and developing solutions. Of course it you know, never been thought of what about human resources? Yes, in fact, PepsiCo uses a robot called robot Vera to phone and interview candidates for open sales positions. In fact, I found something interesting about this, this is something that we've been applying as well. It's the notion of using AI as part of your lead searching, and your hiring activities. So there's this capability from IBM Watson, where you can tap into it, and then it will help you do that kind of searching on on LinkedIn actually. So we make that service available through the the things that we provide. So if you're interested reach out to it's kind of a cool, cool thing, really, because you think, Hey, I can't, you know, constantly as a small to medium business person I can't constantly be chasing down on, Hey, where's my next leads? Right? Where's my next highly qualified set of people? Turns out that with this, with this service, then that we use on it with with this IBM Watson, not only can we establish it to do this searching on LinkedIn, so that it's working, while you're not right, it's looking intelligently for the right kind of fit while you're off doing other things. But it also comes back and says, Hey, not only here's the set of really highly qualified people, but it also turns out that you can take that set, and then you can extract a Facebook, CSV, Facebook formatted CSV file, that then you can load in and create an audience directly off that and then campaign directly to people that fit that profile. Kind of cool, right? Yeah. So when you think about, hey, I need the right size of AI. First, let me go after a target. That's not going to break the the business in the organization. But second, let me also intelligently use AI to find the right kind of people to target. Now that we are right sizing our organization using AI. So first, picking the right AI inspired target. And then second, getting the right AI inspired set of leads to go after that that's

a huge hit for your organization to be able to do that.

Of course, ai course can is applied in accounting and finance the things that you would expect their customer service, you

know, in the customer service area, I'm kind of

on the fence on it, because a lot of times companies will use AI and chatbots. And lots of times I'm like, Hey, I just want to get to a human, you know, but it's slowly getting better on this. And in fact, we use an AI system for our voiceovers. In fact, with the videos that we produce, in all the media that we create, we use AI voices and most people can actually tell that they are AI generated voices. In fact, I just produced one the other day, check it out. I put it on to clickai.com/free-AI-audit one more time, clickai.com/free-AI-audit. Man, I should have made it easier URL. Hopefully got that. All right. If not back up, you may have to listen to that a couple times. What I what I demonstrated there, and I was making this video is for is for the other purposes, man, if I could say that it's for other purposes. But what I did with it was I introduced I call him Jim. Right? And, and I'm interacting with Jim, and it's this AI. Voiceover Oh, you know, there's another place that I use that as well. If you go to click ai.com, just click ai.com I put a video I was practicing building explainer videos. And I was like, man, do I really want to go spend the money for you know, some human voice over this thing? I mean, you know, it's just gonna be hundreds of thousands of dollars anyway, to do that. And it's like, there's got to be a better way. And so I've been using this for a while, it's actually really cool. And you know, we actually will use that in your behalf. So if you are interested, let us know, we can save you a ton of money, doing stuff like that. Okay, so when you're building your marketing, or training materials, using AI generated voices, they're actually getting pretty good for that kind of thing.

It's not as useful for chatbot stuff, right, that's a different kind of air is AI. But, but for the voiceovers, it's actually a pretty decent way to save you a ton of money as a small to medium business owner. So So okay, here's four bite sized places to use AI today as a small to medium business owner. Once the voiceovers that I'm talking about, and go to those site locations you can you ultimately can reach out to me using those sites, if you go to the free dash AI dash audit site, you can actually get get connected and get on my calendar, we can chat, the lead searching and the hiring through that, that that's really cool AI that's backed up by IBM Watson. Again, reach out to me on that clickai.com/free-ai-audit, be happy to tell you how you can get access to that. And then there's another which is transcriptions. Right. And so, in the area of transcription, even this very podcast, I use AI to transcribe it right for a long time as using things like rev, you know, rev.com, they charge like, you know, a buck 25 a minute and after a while you're like, man, I just want to podcasts, I don't want to like, you know, break the bank, you know, to be getting the message out, man, I use some awesome AI services there, I actually can make those available to you, and save you a ton of bank, getting your stuff transcribed. So okay, so there's four areas, and then there's a fifth. So the so the four areas was voiceovers, lead searching, hiring, and then transcriptions, right all using AI in each of these areas at super low cost with really highly effective outcomes. The other is, is one that I started with, I was calling it a smart step. And that's in the marketing and sales area of your business, right? That's where you're taking some of your business information, your transactions, things like that. You're thinking about, hey, what's my target that I'm going after? And then then you're using AI to figure out alright, predictive with these high predictions. If you reduce this activity or increase this activity, you will have this sort of impact on your sales. Okay, so those are bite size and that's what we have to go after, as a small to medium business owners. All right, everyone, I hope that was helpful. Thanks for joining and until next time, only take bite sized AI.

Thank you for joining Grant on ClickAI Radio. Don't forget to subscribe and leave feedback. And remember to download your FREE eBook, visit clickairadio.com now.