Artificial intelligence can bring serious benefits to your business. Despite this, knowing where to apply it can be difficult to understand. If you’re looking to jump-start your business journey with AI, consider implementing it in these three areas.
Artificial intelligence is enjoying its moment in the spotlight. However, many business leaders are still unsure how to best utilize this emerging technology in a comprehensive, responsible and cost-effective manner. What they need is direction when it comes to implementing AI in a way that reaps immediate and long-term benefits.
Perhaps you share this reluctance to embrace AI in all its forms, which makes sense. Undoubtedly, however, the adoption of AI has skyrocketed: a recent study by PwC showed that 86% of companies believed that AI would be a main component of their technology. Similarly, a 2020 study indicated that about half of organizations still have accelerated their AI efforts. Yet even if you’re like the 72% of executives who told The AI Journal they were happy with the future role of AIyou may not be sure where it fits into your operational workflows.
The answer is that how you use AI will greatly depend on your unique business needs and goals. AI offers many benefits, but it comes in many forms. Therefore, the way an automaker uses AI-powered solutions will be different from that of a financial institution. In other words, your job is to determine the right mix of AI for your organization’s aspirations. Here are some use cases to consider:
- Leverage AI to streamline and personalize your employee training.
Strong employee training goes hand in hand with an exceptional employee experience. And employees who feel connected with their employers are more likely to stay engaged. Nevertheless, training can be a time-consuming and expensive prospect. This is where AI can help.
Research from Oracle found that about a quarter of people leaders rely on AI to aid in their learning and development efforts. And even if you’re not quite ready to let AI lead the way when onboarding or upgrading, you might want to consider adopting AI-powered technology. For example, virtual coaches can assess a learner’s journey and step in with personalized recommendations. Similarly, AI learning systems can automatically tag training materials such as courses, videos, articles, and other materials to make them easier to find.
If you’ve ever felt like your training lacked a personalized touch, consider AI-enabled systems. Why make an employee learn something that is irrelevant or that the learner already knows? Leading employees through more personalized training sessions can improve their results and For Your Business.
- Work with AI to deliver next-level customer service and call center operations.
AI is arguably one of the most exciting additions to customer service and support since the invention of the telephone. After all, AI systems allow customer-facing employees to maximize their time. At this point, we’ve all dealt with AI-enhanced chatbots that act as “yard keepers.” Chatbots can handle many queries and concerns simultaneously, and they only escalate the most serious issues to human representatives.
Christopher Shulby, director of machine learning engineering at Defined.ai, estimates that AI chatbots can handle about four-fifths of incoming call center requests. As a result, having chatbots on your company’s payroll could be much less expensive than finding, onboarding, and retraining workers. CNBC reports suggest that chatbots will save businesses around $8 billion in 2022 alone.
Yet the benefits of AI don’t end when a call reaches a human agent. As Alex Serdiuk, CEO and co-founder of voice cloning software company Respeecher explains, “Companies can use AI-powered voice cloning technology in call centers to help improve customer service operations; it allows you to change the language and adjust the accents so that a voice is well received by the customer calling at that specific location. Therefore, you can also get even more out of AI as an agent companion.
- Try AI to improve meeting productivity.
The value of the AI market is expected to skyrocket at a compound annual growth rate of more than 40% through 2028. Any way to join this adventure? Integrate AI into your meetings. After all, they probably need an upgrade: When surveyed by researchers at the University of North Carolina, between 64% and 71% of senior executives had negative feelings about meetings because that they felt they were not adding value.
AI can help bring value back to your gatherings by making meetings more active and less passive. For example, a Wired article on the topic included an interview with video conferencing platform Headroom co-founder Andrew Rabinovich. He explained how Headroom was designed to provide real-time meeting transcripts as well as analysis of a multitude of aspects of the meeting (this includes everything from topics to dates).
Being able to get detailed information about meetings serves several purposes. First, it allows you to document what happened more clearly and truthfully. (Written notes can be littered with human errors and misinterpretations.) Second, it allows people to better communicate their thoughts as they begin to see their stumbling blocks. Even if you only use AI as a way to teach everyone to be more concise in meetings, you will definitely reap the benefits.
Depending on the software and systems you use, you may already be taking advantage of AI in your business without realizing it. Either way, take the time to consider how you can be more deliberate in your use of this powerful tool to improve operations. AI will only fit more into everyone’s future. Intentionally exploiting it now will ensure you make the best choices for your business.
Written by Rhett Power.
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