The ability to integrate Artificial Intelligence (AI) into business operations continues to evolve at a rapid pace. What was once the domain of large corporations is now something that is available to fitness businesses of all sizes.
We are entering the advent of AI business intelligence. The difference between 2018 and 2020 is the possibilities that come with having applications that not only analyze data, but make predictions too.
Prediction is the primary use of AI and fitness operators in 2020 should seek to take advantage of this. Today, if you speak to any business leader, they can easily identify several gaps in their understanding of their business. That could be in their strategy, their tactics, or even their understanding of the marketplace. Even just five years ago, the idea of being able to use data to accurately fill in those gaps was impossible. This is the problem AI can solve in a business. It’s the process of filling in missing information. AI takes data and uses it to generate information you do not have.
Considering the fitness industry, the obvious example is using AI to predict which members are going to leave with enough time to appropriately intervene. Likewise, AI can help you as a gym owner understand whether your December marketing tactics will help you hit your targets in January. AI can predict effectiveness of these tactics, giving operators the opportunity to change direction. This action will have a direct impact on sales.
So, what is holding back more businesses from embracing Artificial Intelligence?
The term itself is still tied up with images of robots, automated driving and wild statements from futurists like Elon Musk. These types of associations have many businesses believing they cannot effectively integrate AI into their business or processes. It’s not a business problem. It’s a marketing problem.
AI is not a futuristic concept available only to data scientists. Music suggestions made by Spotify, advertising in a social media newsfeed — this is AI.
In order for a business to adopt AI, they need certainty around cost, outcomes and the ongoing engagement required. Currently, the concern is that implementing AI is time-consuming and complex. What is needed is applications designed to take away the complexities in the system.
Forward-thinking operators looking to integrate AI should first understand the problem they want to solve. If you could understand one part of your business better, what would it be? Sales? Retention? You can use AI to learn something that you couldn’t possibly know.
AI’s time is coming. Whether or not this is on the 2020 roadmap for your business, it is something to keep on your radar. The starting point for any company is to think about which areas of your business you want greater clarity. If the gaps in your information are keeping you up at night, AI could be the thing you need for a more peaceful night’s rest.
Ian Mullane is the CEO and founder of KeepMe, an AI tool proven to aid member retention. KeepMe provides gyms with a conceptually refreshing and intelligently driven approach to proven member retention. For more information, visit keepme.ai.
