It's no secret that AI is transforming industries throughout the economy. No matter what your business is or what its niche might be, odds are AI will have a majorly beneficial effect on your brand and its operations, provided you take steps to use these tools sooner rather than later!
What happens if you’re not sure what to expect or you are leery of introducing new tools to your workflow and tech stack without knowing exactly what they’ll do? Read on to learn more about the future of AI in business and how you can leverage this transformational element wisely.
What Is AI in Business?
Artificial intelligence (AI) in business is the ongoing process of integrating and regularly using AI technologies for business operations and tasks. There are a few ways that implementing AI systems can look, depending on the tools you use and what you need:
- For example, you might use automated AI tools to reduce the repetitive work required by your team members, freeing them up to do other things
- Or you might leverage AI tools to record and organize data sets for better insights, greater personalization to your customers, and so on
- Still, more businesses use AI to streamline workflows, recommend personalized or new products to customers, and so much more
If there’s something your business does, odds are that AI can boost and supplement the efforts of your employees.
However, not all AI tools are exactly the same. In fact, AI technologies can vary heavily depending on what they are and how they are deployed. Machine learning technologies and AI tools might include:
- Dedicated software programs or apps that you integrate into your tech stack
- AI platforms and cloud services, which provide AI-powered assistance to your brand on a moment-by-moment basis
- AI scripts or machine learning algorithms, like chatbots, which can run in the background of other services and processes
In this light, you can use AI in business, no matter whether your brand is small, midsized, or very large.
How Will AI Transform Business Operations?
Still not sure whether AI is worth the hype? AI is already transforming businesses and their processes across industries; here are some of the specific changes and improvements businesses see when they start to integrate AI tools into their operations.
Data Analysis and Better Decision-Making
Firstly, AI will enable much better analysis and superior decision-making if you use it in your business processes. AI can analyze massive quantities of data in a fraction of the time it takes a human to do the same task. More importantly, AI can analyze all that data without making basic errors, especially with arithmetic.
Thanks to machine learning technologies, business leaders now have lots of data at their fingertips. But they have to thoroughly analyze and leverage that data to see any real benefits. AI tools allow your brand to do just that. With AI tools, you can take your data and:
- Identify trends that are relevant to your industry, your target audience members, or even your product pricing
- Predict future trends and developments in your industry, which can help you gain a competitive advantage
- Make the best decisions possible for your brand and your target audience, resulting in more effective marketing strategies and better customer experiences
Of course, AI tools don’t do this all by themselves. Instead, they often work in conjunction with human agents and data analysts, who can parse the data and add that human touch to ensure that interpretations are accurate rather than erroneous due to a fixation on raw numbers.
Still, this is an invaluable benefit in the era of big data!
Automation of Rote Operations
AI can also automate and streamline various operations throughout your company. In fact, process automation is one of the most significant applications of AI overall.
With AI technologies, your business can automate routine operations like:
- Answering basic customer queries (chatbots can do this instead of your human customer service agents, for example)
- Scheduling shifts, especially if you have a lot of workers
- Optimizing workflows
- Tackling routine cybersecurity checks or operations benchmarks
- And more
In short, if there’s anything that has to be repeated again and again for your business, there’s a good chance that one or more AI tools could take over that task completely. Even better, the right AI tools can automate tasks quickly, so employees can spend their time more efficiently completing other tasks.
In a broad sense, AI can transform your business operations by yielding higher productivity. As touched on above, AI tools can streamline workflows and project outlines, helping your team members get the job done faster and better than ever.
In addition to automating rote tasks, AI tools can enhance productivity by:
- Reducing the amount of time that your employees have to spend on a given task
- Bringing more accurate information to your employees so they make stronger, more accurate decisions
- Helping your employees connect with more customers, thereby also boosting your conversion rate
- And more
Don't discount these massive, wide-sweeping improvements. Practically any AI technologies you use in your business should lead to higher productivity and better overall results from healthcare to digital marketing.
AI-Powered Customer Support
In the customer service department, you’ll also find major benefits in the AI side of things. Some AI use cases include:
- Answer basic questions or queries from customers on your website (e.g., AI-powered chatbots)
- Provide personalized or unique customer information to human agents, so those agents can then offer personalized services. This can bolster small support teams
- Provide data-based insights into customer service results and responses, enabling your team to continually iterate upon and improve their actions. AI-powered customer service teams can make better decisions about customer care, customer needs, and so on
In the long run, this can help your customer service department to provide ever better service to its target audience members. This will lead to a better brand reputation and higher customer satisfaction: both big benefits, especially if you’re an e-commerce startup looking to capture a significant portion of its competitive market niche.
ChatGPT and Natural Language Processing (NLP) or conversational AI tools are only the tip of the iceberg. Other AI tools are used with automatic messaging, knowledge bases and FAQs, self-service tools like customer portals, and more. In some cases, brands route most customer interactions to generative AI tools rather than human support agents.
Whether you use customer service chatbots or more sophisticated tools to handle customer questions, AI will significantly improve how you can enhance customer journeys.
Contact Awesome CX by Transom Today
There is no better time to learn more about AI! At Awesome CX, we offer AI-powered insights and data analytics and forecasting services right from the get-go. If you want to understand how the use of AI can maximize your business's attractiveness to its target audience members or improve your market share, this is the best place to start.
There’s no reason to wait! Get in touch with one of our representatives today to learn how we can help you with AI in business!