We’re in the midst of a technological revolution. Tech solutions are being created and advanced at a breathtaking pace and savvy businesses are reaping the rewards.
The speed at which the modern office has moved on has taken many established businesses by surprise with some reticent to invest in technology they perhaps don’t fully understand, but by not acting now, they risk getting left behind.
One area which is commonly misunderstood is Artificial Intelligence, more commonly referred to as AI.
AI can provide numerous benefits to companies, increasing productivity, security, communication and customer satisfaction to name just a few. Here we look at five key areas in business where AI can improve on the old way of doing things.
Customer care
When a customer has a query or complaint, the last thing you want is to keep them waiting. This is where AI steps in as it is able to realistically communicate with customers, responding to commonly asked questions and signposting useful information. This cuts down the number of queries the customer care staff have to handle and frees them up to deal with more complicated inquiries.
Even if the customer does require further support after a live chat with an AI bot, it does mean their initial communication was dealt with promptly, improving the customer journey.
Productivity
By allowing AI to handle the mundane and repetitive tasks of the business’s day-to-day running, it frees up employees to use their time on the jobs that require human interaction and creativity.
For example, cloud-based HR software uses AI to handle certain payroll processes, engage in common employee communications, and track performance and productivity.
Cybersecurity
Working in almost real-time, AI can process and analyze huge amounts of data flowing through the system. It can then pick up on anything that is considered a risk and flag it up or even put a stop in place.
This kind of analysis is impossible to do without AI, demonstrating how vital this technology is now and in the future with the increasing number of online interactions.
Sales
AI can offer the opportunity to boost sales by using algorithms to more accurately target the people who are actively looking to buy your products or services or who are simply more likely to be interested in what you have to offer.
Being able to target the right people at the right time and in a way, they are most likely to respond to will not only boost your sales, but it means less money will be spent on advertising and marketing in the wrong areas.
Market research
AI adds another string to a business’ market research bow, so while it doesn’t necessarily make traditional methods of research redundant, it can help improve the information you have available to you.
For example, thanks to AI, businesses are now able to gather information on what websites their customers visit, the products they buy online, what type of marketing they respond to, where they might go on holiday even, the list is endless. It all comes from being able to analyze how people are using the internet, and this data can be invaluable.
So, if you are yet to sample what AI has to offer your business, now could be the right time for you to join this technology revolution for yourself.