A study released by Harvard Business Review revealed that AI allows humans to improve social skills, creativity, leadership, and teamwork. Let’s see how machine learning can empower entrepreneurs to improve their productivity.

1. Data Science
Session 1
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How Entrepreneurs can benefit From Machine
Learning
A decade ago, artificial intelligence and machine learning were fascinating
concepts seen in movie robots or agents like Jarvis.
Now, we already use these technologies in our day-to-day lives. Think of Alexa,
Google Home, and Siri. All these personal assistants are developed using the
concepts of artificial intelligence and machine learning.
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While these are still extreme examples of months of hard work, we have simpler
implementations of AI and ML too. Amazon’s recommendation bar, for instance.
Based on your buying patterns and recent searches, Amazon creates a
recommended list for you to find what you are looking for sooner than later.
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Don’t you think that a technology like this can be easily utilized in startups?
A study released by Harvard Business Review revealed that AI allows humans to
improve social skills, creativity, leadership, and teamwork.
Let’s see how machine learning can empower entrepreneurs to improve their
productivity.
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Reduced Work Lord
Entrepreneurship is not a cake-walk. It requires a lot of efforts and you are
required to wear several hats through the day. One day, you are required to
handle payroll, the next day, finances, and the day after that, client queries. When
you have so much on your plate, it won’t hurt to let technology reduce your
burden. You can have machine learning-enabled software to reduce work such as
managing finances or providing intelligent support to clients when you are not
available.
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For example, AI and ML-powered chatbots that can talk to your customers and
draw upon previous experience. When the situation seems to go out of hand,
these bots hand over the conversation to a human employee. Great, right?
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Personalize Ad Spend
Whenever you step foot in marketing, you are required to utilize ad marketing to
improve your outreach. However, how can you minimize the overheads and utilize
targeted ads?
It is through Google’s and Facebook’s AI-enabled engine that offers highly
targeted ads. How can you possible to say no to an offer like this?
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Wouldn’t you want to target specific potential users of your product in as less
money as possible?
AI and ML make it easier.
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Simple Sales
Whether you go out yourself to acquire clients or hire a sales representative, you
require technical support. We are way past the era of door-to-door marketing. You
have to really know your customer even before you meet them. And once you
meet them, you should be able to customize their experience according to their
requirements.
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This is only possible through data that we already collect on a daily basis. By
analyzing huge amounts of datasets, ML can help you understand user patterns,
feasible markets, sales feasibility, and customer satisfaction levels. Having all
these insights right in front of you, helps your sales representatives make
data-driven, calculative decisions.
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High Customer Experience
When you streamline all these tasks with ML, you have time to play strategic roles
such as talking to the customer and understanding the issue. You can come up
with creative solutions. However, this is only possible when you reduce the time
spent on all the other above mentioned activities. Once you achieve that, you can
improve customer experience and increase user satisfaction levels.
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Conclusion
It is not possible to remove ML and AI from our functioning now. Hence, why not
utilize it to the fullest? Entrepreneurs can use this technology to their advantage,
provide impeccable services to customers, and move towards success.
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