Generative Artificial Intelligence (AI) is rapidly transforming the business landscape, offering unprecedented productivity enhancements for business owners. This article, originally published on Nasdaq and authored by Brian Mulroy, CFO at Semrush, explores the potential of generative AI in boosting productivity, creating new content, and enhancing online visibility for businesses.
The Rise of Generative AI:
Generative AI, exemplified by models like ChatGPT, has seen a surge in interest and adoption. According to Semrush data, US Google searches for "generative AI" were up 18,000% YoY in May 2023, indicating the growing recognition of its potential. The technology's ability to create new content, save time, and boost revenue holds significant potential for business owners. Nearly 87% of organizations believe AI and machine learning will help them grow revenue, boost operational efficiency, and improve customer experiences.
The Impact on Small and Medium Businesses (SMBs):
Generative AI presents a unique opportunity for SMBs to gain scale and efficiency. For smaller organizations, AI can expedite workflows, boost creative output, and even create revenue-generating content or website functionality. The technology can change the scale of what each individual business owner is capable of accomplishing, making it a crucial tool for businesses to adopt.
Use Cases for SMBs:
Generative AI can enhance customer engagement by automating and streamlining interactions. It can generate review responses in seconds, saving business owners time and improving customer engagement. The technology can also analyze customer reviews and feedback to unveil themes and areas for improvement. Furthermore, generative AI can help business owners without dedicated marketing teams to build new content quickly. It can also repurpose existing content for other mediums, stretching the value of marketing assets. Lastly, generative AI can enhance online awareness, leading to more traffic and better brand visibility.
Conclusion:
Generative AI is rapidly becoming a competitive necessity, reimagining workflows, surfacing new time and resources, and enhancing the performance of businesses. As we witness the impact of generative AI around the world, business owners are encouraged to test how it can create efficiencies across all functions of their organization. The technology stands as a testament to the transformative power of AI in the business landscape.
Reference: Nasdaq
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