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5 ways by which AI can help in driving economic equality

By Tannu Sharma 2nd March 2020

Economic inequality is not a new addition to our society. Over the years, the distressing figures are on a rise only. If we speak about the past 25 years, the Gini index jumps to further four points and reaches around 40.8 from 36.7. These figures automatically depicts how the roots of economic inequality have deepened in our society. 

But apart from being sad and sorry, what else we have done for us? Many of us can sportingly take a debate over this, but when it comes to think and act on practical grounds, only a handful of individuals could be traced. Moving forward and putting the focus on what steps, we as an awakened individuals can take, we came across a very smart solution termed as “ Artificial Intelligence”. 

Surprised! Of course, many of you would. There is prenotion in our mind that technology is to be held responsible for creating this wider gap between the economic distribution. But is it really true? Definitely not! Technology if used with wiser actions, can be used to bridge this huge and widen the gap. Let us discuss in detail how AI could be used to drive economic equality in the world. 

The rise of On-demand economy

If figures are to be believed, there is a drastic 360-degree turn in today’s customer behavior. Gone are the days, when a consumer plans to avail of a service. With the fast-moving world, the consumer has become the ultimate game-changer. He needs everything as per his demand. This has introduced a new chapter in the world economy: On-demand economy. This simply means a customer gets the services as per his demand. 

Now, the big question here arises is how this on-demand risen of the economy and the introduction of AI can help the world to get better equality in terms of economic distribution? 

Before going ahead, do you know what makes a giant player powerful in the competition? He understands the customer’s demand and curates his services accordingly. This is where AI helps you to take charge of creating your own success story. 

Top 5 ways by which AI gives you advantage to beat the giant players:

AI makes your business accessible to customers

The first golden rule of getting a required ROI for your business is to make your services accessible, visible and approachable to your customers. This could be done by showcasing your services to a place, where you can connect with the maximum of your potential audiences. An online marketplace where you can depict and connect with your customers is the first step to build a successful start to your business.

AI makes your services delivered to your customers

If you wish to stay ahead of your competitors in the market, you need to make your services delivered proficiently and promptly to your customers on time. This one major change can either make your business in the market or can break you. Choosing a perfect delivery management software optimized with AI will definitely keep you going with great revenue in the longer run. 

AI makes it easy to communicate with your  customers

Not only offering your services but retaining your customers to keep on taking your services is a big shift you need to make to your existing old traditional business ways. This could be achieved effectively when you have the chance to keep a strong and progressive communication platform with your customers. AI can allow you to maintain this healthy communication with your customers easily. 

AI helps in automating your  work operations

Beating the big players in the market means you need to be a multi-tasker every time. It won’t be possible always as you are committed already with many of the time-consuming things. Here, you can take assistance from AI and can automate your multiple work tasks efficiently and can subject to give a tough competition to the big players of the industry. Opting for AI-driven automation of work operations will really make a big and visible difference to your work. 

AI tells about your consumer behavior

Last but not the least, you are required to keep an eye over the latest customer trends and must imply your things in a way that you could easily get an upper hand over your customer’s behavior. This could be done seamlessly with the presence of data-packed insight reports. AI does all for you.

Our market is currently under the monopoly of big players such as Facebook, Amazon, Uber. But we need to get away from them and make these small businesses meet their potential in the market. This is not an over-night process but still stepping ahead with AI can make this process a little faster and easier for you. 

The world’s economy can get equal only when we are ready to make it big for small businesses too. We at Jungleworks are doing our job of giving the best business conducting platform to the entrepreneurs and are helping them to create the difference. If you know someone who is looking to get the AI help to grow, make them connected to us. It is your turn to contribute for a better and healthier economic equality. 

If you enjoyed reading this, we’re sure you will also love checking out what we have in store on our Youtube channel. You can also head to our  home page for more info!

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