Artificial intelligence is now inescapable. In fact, AI has become so ubiquitous it has recently been named the Collins Word of the Year 2023.
However, the rapidly growing range of AI tools available to business owners and directors can be bewildering for busy leaders focused on managing their teams and looking after their bottom lines.
When used properly, these tools can be great for boosting productivity, which is a burning issue for UK companies. Recent research by the ONS shows the country’s productivity levels are 16% below the average for the other members of the G7 group of industrial nations.
Thus, many business leaders will want to leverage AI to their advantage to get more done. However, they are likely to be concerned about the risks involved and the need to keep a human eye on what’s going on.
To help leaders stay informed, here is a summary of the top five AI tools that could help businesses save time and boost productivity.
Smart companies are already using automation software that is driven by AI to automate processes that were previously done manually, in a very slow, labour-intensive way.
One such process is using AI-driven software to monitor competitor prices online, which can rapidly improve productivity levels for businesses like retailers operating in price sensitive markets.
Large language models
Large language models (LLMs) like ChatGPT are extremely useful for generating content ideas including themes and titles. They’re also great for analysing data through code interpreter, using various plugins.
For instance – want to look for unseen trends in the UK’s last census? Just find the right plugin, analyse the data and you’re away. But beware – fact check everything as LLMs are notorious for making some massive mistakes among their impressive outputs!
Huge parts of most companies’ marketing activity are now done online. And in the age of Instagram, image is everything, making images essential for quality marketing. As those responsible for sourcing images understand, this can take a lot of time.
AI based image generators (also known as text to image apps) like the one offered by Canva can do the job quickly and easily. But they throw up issues around ownership and copyright, which means users need to ensure they read and understand the terms and conditions before using them.
Live translation tools
Real-time language translation solutions are key for running a modern business. Whether it’s for talking to remote workers recruited to overcome labour shortages, dealing with international partners in supply chains, or speaking to new international customers and their parent companies.
One such service is our own Pocketalk for Business SENTIO, which uses Whisper technology developed by OpenAI.
Losing key information by using low-quality translation options could be very costly for your business, so it’s best not to gamble – instead, invest in quality services for peace of mind.
AI calendar assistants
AI calendar assistants can be used by business leaders to schedule time in the most efficient way by optimising the working day. Particularly handy for busy entrepreneurs and directors with too many meetings, not enough time and a bulging email inbox, AI calendar assistants can organise schedules to maximise workflows.
Ultimately, while it may feel scary at first, business leaders who move ahead now and get the most out of accessible, innovative AI tools can gain significant advantages over their competitors.