Artificial intelligence is rapidly becoming a staple in many businesses across different industries, with the global market expected to race past the trillion U.S. dollar mark in 2031 as it changes the way companies operate. But many still wonder, "How can AI help my business?" Find the answer in this article.

At this moment in time, we're all familiar with what AI is and how it's slowly taking over mundane, repetitive tasks and making our lives more productive. It's no surprise, then, that companies worldwide have started to adopt AI tools to help them make smarter decisions and maximize their potential.

But why is the value of the global AI market set to expand at a CAGR of 37.3% between 2023 and 2030? Why are so many companies into AI?

This is what this article is trying to answer. Keep on reading to discover how AI can help your business, the advantages and disadvantages of AI, and how you can apply it correctly.

What is artificial intelligence in business?

Artificial intelligence in business refers to software that performs human-like tasks such as learning from data, understanding language, and making predictions to augment team capabilities.

AI uses key technologies to transform how businesses operate:

• Machine learning (ML): Analyzes data patterns to make predictions

• Natural language processing (NLP): Understands and processes human language

• Automation: Handles repetitive tasks so teams focus on strategy

How can AI help my business?

AI helps businesses in eight key areas that directly impact productivity and growth. 41% of large companies plan to invest in AI services, according to Adobe.

Here are the most impactful business applications:

1. Marketing

AI transforms marketing by automating research and personalizing campaigns. Here's how:

• Content ideas: Out of ideas for your social media posts? Well, with an AI-powered writing tool, you can generate ideas on the spot. Feed it a prompt and it'll be able to create content based on it easily, without wasting too much time brainstorming.

• Competitor research: Marketing research is time-consuming. Through automation, it's way easier to perform data analysis that yields the right results. Which enables better data-driven decision-making.

• Predictive analytics: Your marketing teams can quickly identify and predict patterns and trends from customer data if they use AI. This lets them create more effective marketing strategies by offering more personalized product recommendations, promotions, and messaging.

2. Knowledge management

An AI knowledge base is a centralized hub that uses AI to store, manage, and deliver relevant information instantly through chatbots or search.

Key benefits include:

• Instant answers: No human intervention needed

• Better support: Faster customer service

• Improved relationships: Consistent, accurate responses

Guru is the perfect example of a great AI-powered tool that's able to connect your existing apps and find all the answers you need, fast. It uses generative AI to deliver accurate info from different sources; plus, you can search from anywhere, without switching apps.

See what Guru can do for you by watching this demo.

3. Customer service

If you've ever wished to get inside your customers' heads and understand their thoughts and feelings, that wish just came true. AI can analyze big data and understand behaviors, which lets you improve customer interactions.

In customer service, you usually employ an AI-powered bot that uses NLP and ML to mimic human speech and answer questions or offer personalized recommendations in real time.

Chatbots are very helpful when it comes to handling fundamental questions about your pricing models, for example. It takes the answers from your existing sources, like FAQs or knowledge bases, without relying on a human.

In a nutshell, you use chatbots to provide seamless support without making clients wait for the next available representative; in fact, studies show that agents using AI can handle 13.8% more customer inquiries per hour. As a result, you free your resources and your agents' time, allowing them to focus on more important tickets.

4. Finance and accounting

Mundane accounting tasks like invoice processing or data entry are a piece of cake for AI. In these highly regulated industries, an AI system can help teams improve their business processes by analyzing large datasets quickly and accurately.

As a result, not only does AI streamline their business operations, but it also minimizes human error, uncovering mistakes that might otherwise go undetected. So, it's invaluable for fraud detection and maintaining reliable financial records, while saving you time and resources.

AI tools for business also help with forecasting (making predictions), compliance (reducing the risk of penalties), and payroll management (maintaining an accurate payroll).

5. Recruiting

The human resources department is where AI really thrives. It can automate so many everyday tasks, it's no wonder 85% of employers surveyed by SHRM say that AI saves them time and increases efficiency.

It's especially useful when it comes to recruiting new employees:

• Sourcing for candidates — Nowadays, applicant tracking systems use AI to automatically screen candidates based on set criteria, and research shows that between 35% and 45% of companies have now adopted AI in their hiring processes. This makes it easier to filter through unqualified applicants and some AI systems even send automated emails to those who didn't make it.

• Writing recruitment materials — Need to craft job descriptions on the spot? A tool like ChatGPT can help you draft the relevant content fast, based on a prompt, which spares you from writing job offer letters or interview questions from scratch.

• Managing employee records — An AI platform streamlines your workflow, letting you store and manage employee data in centralized HR software. These tools also help with other HR functions, such as payroll, benefits, time and attendance, etc.

• Driving engagement — Many companies today use chatbots to boost applicant engagement. For example, the AI bot can guide candidates through the application process and answer questions easily.

6. Learning

There are many terms on the Internet (or the industry we work in) that we don't quite understand at first. In this fast-paced world, going to the library and looking the term up is not an option. But then the Internet fails us; the online definition is too convoluted to make sense of it.

Plus, it's too time-consuming to search for the definition online when you can simply use generative AI to learn new business terms or even simplify them.

AI can do more than just that, though. You can also use it to give examples to define those terms better. As a result, people will learn new concepts and terms faster; one study on customer service agents found that AI expedited learning by a factor of 4, bringing new agents to a veteran performance level in two months instead of eight.

7. Sales

Artificial intelligence can also be helpful to sales teams. There are plenty of AI sales tools that automate sales processes and streamline operations to enhance efficiency and productivity.

They do so by analyzing customer behavior and interactions to automate sales tasks such as lead generation. However, they also offer valuable insights, reducing your sales team's efforts. As a result, the team can focus more on the customer and build a relationship with them.

So, by using AI, you can:

• Automate manual tasks — Manual data entry or email follow-ups are a thing of the past. With AI, you can save time and close more deals by focusing on what matters: developing relationships.

• Generate fresh content — AI analyzes every customer interaction and preference to create content that they'll like.

• Offer valuable insights — By being aware of customer preferences, you can make more informed decisions about what products you recommend, etc.

8. Cybersecurity

AI strengthens cybersecurity by detecting and responding to threats faster than traditional methods.

AI cybersecurity capabilities:

• Threat detection: Analyzes data to identify suspicious patterns

• Incident response: Addresses risks before they cause damage

• Adaptive learning: Continuously improves threat recognition

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Alright — now you know how useful AI is to a business. No matter how you decide to use it, though, it's best to go through the benefits first.

Which is exactly what we're gonna do.

What are the benefits of using AI in your business?

Maybe you're not convinced yet that AI is beneficial. But know this: 83% of companies claim that using AI in their business strategies is a priority.

So, they must be onto something. But what, exactly?

Let's go through the benefits to see the reason why so many companies have invested in AI lately:

1. Improved productivity

Productivity is one of the biggest advantages of using AI.

AI can handle huge amounts of data and tasks that humans can't, and at a faster rate, too. For instance, a study of programmers found that those using AI could code 126% more projects per week. So, when it comes to analyzing data for valuable insights and predicting patterns and trends, AI is unmatched.

Moreover, AI automates boring and time-consuming tasks like checking code, allowing your employees to focus on more productive tasks, such as interacting with qualified candidates.

In a nutshell, you focus more on your talent's development than on tasks that yield no benefits.

2. Personalized customer service

With artificial intelligence, you can personalize every customer interaction and make it meaningful. How? Well, since AI analyzes huge amounts of data every day, it can learn and understand what your customers want.

As a result, it can create highly customized experiences that'll make people want more. For instance, think of any streaming service. It uses AI to study what users watch and what they like, allowing it to offer personalized recommendations based on their interests.

But AI also has uses in healthcare, where it can personalize treatments, or in e-commerce (it can offer suggestions of similar products).

3. Reduced human errors

We all make mistakes; sometimes, however, a business can't afford costly errors.

To reduce the number of human errors, employ artificial intelligence, as the need for human intervention is often a weakness that can lead to costly human error. AI tools can easily spot anomalies in data and speed up processes. This is particularly useful in finance industries, where accuracy is key for maintaining a good reputation.

Plus, AI always works to improve itself, so it can tackle ever more complex tasks without making errors.

4. Increased innovation

Artificial intelligence can open new ways for innovation, which means those who use AI tools can create new ways of doing things or servicing clients. In a nutshell, AI allows you to discover new opportunities that'll give you the competitive edge you need to become successful.

For instance, it's highly useful in the research and development (R&D) space where specialists can discover new innovative products that'll ease people's lives.

5. Enhanced talent management

Our last benefit is about how artificial intelligence can simplify recruiting and talent acquisition.

Many companies use AI-based tools to improve the hiring process, from recruiting to screening to onboarding. For example, it can send automated emails to new hires and be at their disposal if they need a certain guide or file.

AI removes bias from the recruiting process and can identify top candidates regardless of education, gender, or race. Plus, it improves your productivity and cuts down on hiring costs—with AI reducing cost-per-hire by as much as 30%—allowing you to successfully find the best candidates.

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It's not all fun and games, though. AI in business comes with disadvantages, so let's make you aware of them.

Here's a quick comparison of AI's main business benefits:

What are the disadvantages of using AI in your business?

AI has plenty of advantages that make it a good option for your business.

However, as with any tool or technology, it does come with headaches you have to carefully consider before making a decision.

Here goes:

1. It might cost you: An AI tool comes at a price because it requires a high level of customization. As a result, it's tougher for small businesses to invest in AI platforms and even enterprises with a budget might be reluctant to make such a substantial investment.

2. It can be wrong: Yes, AI tools can still make mistakes despite their increased accuracy. Nor might they be smart enough to detect such errors. AI operates using the data you feed it, which might also lead to inaccurate or even discriminatory results. That's why it's always a good idea to check the AI's text or results.

3. It lacks empathy and creativity: It's hard for an AI tool to be creative, even if it uses NLP to talk to people in a friendly manner and no matter how much it learns. Moreover, AI also can't understand people's feelings, social cues, and cultural references, which makes it harder to create relatable text.

4. It may have security issues: Programs, no matter how good, will always be prone to cyberattacks, especially as criminals deploy sophisticated techniques and thousands of new vulnerabilities are discovered annually. Try to choose a solution that doesn't compromise on security and employs the latest technology to ensure it catches threats in time.

5. It eventually runs everything: Usually, you're gonna build your operations around the AI as you implement it. This means you'll become dependent on it. So if malfunctions happen, it might halt those operations.

For example, AI hiring tools have shown bias against certain groups when trained on historical hiring data. This is why human oversight and diverse training data are essential.

Don't get discouraged by these disadvantages; if you have the money and the initiative, it's still a good idea to invest in AI tools.

But to apply AI properly, you need to know its secrets. Let's go through them in the next section.

How to implement AI in your business successfully

Successfully adopting AI requires a clear strategy, not just a new tool. The most effective approach focuses on building a trusted foundation for knowledge that your people and other AI systems can rely on. A proven framework for this is Connect • Interact • Correct.

• Connect your sources: The first step is to create a single, unified company brain. This involves connecting all your existing applications, documents, and internal sites. By indexing this information while respecting all existing permissions, you build a comprehensive and secure knowledge base.

• Interact with a Knowledge Agent: Once the brain is formed, your teams need an easy way to access it. A Knowledge Agent delivers trusted answers through AI chat and search, directly within the platforms your teams already use, like Slack, Microsoft Teams, and their web browser. This ensures information is available in the flow of work.

• Correct and improve: AI is not perfect. The final, crucial step is to create a feedback loop. When an answer is outdated or incomplete, subject matter experts must be able to easily correct it. When they fix it once, the right answer updates everywhere, creating a continuously improving, trusted layer of truth for your entire organization.

Getting started with your AI Source of Truth

The promise of AI is immense, but its value is directly tied to its trustworthiness. To truly help your business, AI must be powered by information you can count on. This is why every enterprise needs an AI Source of Truth.

Guru provides this trusted layer by design. By following the Connect • Interact • Correct framework, Guru gives you policy-enforced, permission-aware answers with complete auditability. It's the fastest path to deploying AI that tells the truth, empowering your teams and preparing your organization for the future of work.

Ready to see how an AI Source of Truth can transform your business? Watch a demo to learn more.