If you’ve watched any sci-fi movies about the AI that surrounds us taking over and ruling humans, you may be a bit skeptical and leery about the potential of using artificial intelligence at your business. We’re here to tell you that AI can be a positive component for your growing business and one that will change your mind regarding the negative hype in movies and literature. Today, we will be looking at the benefits of incorporating artificial intelligence into your business practices to automate your business practices, engage with customers, and analyze data.
What Is AI for Business?
In the early days of artificial intelligence in the business world, simple things like playing a game of chess against the computer were considered amazing. But now, AI can be a powerful tool for businesses to create solutions for quality control, video analytics, speech-to-text (natural language processing), and autonomous driving, as well as solutions in healthcare, manufacturing financial services, and entertainment.Wondering if you've ever encountered AI in use? Chances are pretty good that you have given that “Nearly three-quarters of companies are now using AI (31%) or are exploring the use of AI (43%),” according to IBM's 2021 Global AI Adoption Index.The future of AI in business, especially after two years of remote work and a global pandemic, is very strong. Gartner predicts that “the business value of AI will be $5.1 billion by 2025.”
The Benefits of AI at Work
The advantages of AI at work go well beyond the typical chatbot that can answer frequently asked questions remotely to free up your workforce for more important tasks. AI has many categories of usefulness, but let's briefly go over three of the most important. According to Harvard Business Review, “AI can support three important business needs: automating business processes, gaining insight through data analysis, and engaging with customers and employees.”
Automation of business processes can free up your workforce for higher priority goals within your company. Processing information, transferring data from call centers and email, and updating customer contacts are just a few of the ways that AI can reduce the workload and keep your business running efficiently.
Using well written algorithms, AI can interpret and use data to help grow your business. For instance, data can be analyzed to predict what products or services a customer might like or automate personalized marketing ads to capture the attention of your audience where they frequently browse.
Engage Clients & Employees
When we think about artificial intelligence we often think about robots and a lack of the ability to engage in a real way. AI can now engage your customers and employees with 24/7 customer service. These services can address a broad array of issues from password requests to technical support questions—all in the customer’s natural language!Has your business embraced AI? Talk to our team about ways it may be able to help your business. In the meanwhile, check out this chart from Harvard Business Review on the reasons why business leaders continue to choose using AI.