It’s everywhere from our businesses to our homes – many people use Siri on their phones or rely on Google assist for help. But the big question we are here to answer is does AI make sense for your company? Let’s go through the below pointers when considering shifting to AI.
Artificial intelligence has as many uses and just as many labels. Some refer to it as machine learning, others call it cognitive computing or deep learning. IBM estimates that Artificial Intelligence is a $2 trillion market where computing power is used for data understanding, reasoning, speaking, decision making, and learning.
Companies like Samsung, Google, Facebook, Uber, and Amazon are investing heavily in AI technology. But should you too invest in Artificial Intelligence? Below are some questions to consider before considering AI:
How effectively can you capitalize on data analytics?
We are getting increasingly connected digitally more and more every day. This means a flood of data is available to companies. This data can help:
- Predict customer service problems
- Identify potential customers
- Customize your marketing
- Stimulate product development
- Anticipate sales opportunities
And that’s just the beginning of Artificial Intelligence. Of course, you could spend hours reviewing excel sheets with crazy data points or explore solutions with the power of AI to enable your company to improve its processes and learn more about your customers and industry from its data.
Can your customer service be improved?
Many companies are using AI chatbots to improve their customer experience. Intelligent artificial agents can be accessed around the clock, where and when customers need help. Instant messaging allows companies to quickly and easily answer many of their common customer questions. Incorporating AI assistance into website design can also help users navigate a company website more effectively by stimulating sales and data collection for prospects to support personalized data. A recent study by Gartner showed that AI bots accounted for 85% of customer interactions in 2020.
Do you want to increase productivity?
There are many AI solutions out there to handle the back office work of your organization’s IT, HR, and finance/accounting departments. Think about saved time just by automating password reset technology instead of asking your tech team to waste their time on this mundane task. Alternatively, AI can be used to complete a humdrum human resource task of asking a standard set of questions that all new candidates or employees need to answer.
Will your employees be able to benefit from the extra time to be creative/innovative?
Morale can also increase in business when artificial intelligence solutions, take over the menial tasks from people who work for you. Apps can perform daily functions such as tracking orders, reporting fraud, answering frequently asked questions from employees, communicating with staff, and even training employees. This way, the people who know your company and its customers best can spend time developing new product ideas, customer-oriented marketing approaches, or sales-generating innovations.
Separating – Human – Thoughts
According to PWC, AI is one of the eight most important new technologies that are revolutionizing business and industry today. Around 54% of respondents plan to make a “significant investment” in AI. Yet only 20% said they had the skills to use technology. Therefore, as you look at your readiness for AI, consider your internal technical skills and see what support you can expect from a solution partner.
Request for a call back when you’re ready to transform your organization through AI, go for an enterprise-class platform that’s built for both the data scientist and the business user.