We have witnessed a dramatic increase in the adoption of technologies in daily business over the past decade. The digital revolution has seen organizations around the world adopt technologies which promise increased efficiency, productivity and profitability. Artificial Intelligence and Machine Learning have become popular among organizations.
AI can help organizations increase efficiency and save valuable employees’ time. AI can also be used by organizations to boost their decision making processes. The current generation of AI – powered by Big Data and Machine Learning platforms – has the potential to reduce operational costs and boost employee experience. When used properly, AI can be helpful to organizations in conducting research, improving employee experience and boosting organizational productivity.
AI increases business productivity
AI programs can be used to collect and analyse large amounts of data. AI helps in gathering information by identifying patterns and interpretations that are not possible for humans. It saves time for employees and helps them to gain actionable insight. These insights are used by companies to make product and marketing choices, increasing productivity and profits.
AI is a powerful tool that can enhance business performance and help businesses in a variety of ways. Below we have listed a few of these.
Customer Service
AI has become a common tool in the customer service industry. Chatbots are used by organizations to communicate with their customers and offer answers to queries or complaints. They are designed to respond rapidly and understand natural language. Chatbots are able to identify users’ emotional states and can respond appropriately.
Chatbots can be used to reduce the response time for customers, saving time and money. The data collected by chatbots helps organizations better understand the different types of clients and their issues. Using chatbots, organizations are able to regularly gather, analyze and interpret more information. The use of chatbots can increase overall productivity, and improve customer satisfaction.
You can also find out more about recruitment.
Any organization will find the process of hiring a new worker to be a very difficult one. Organisations must comb through multiple profiles to find the right candidates and organize their interactions with hiring managers. These tasks take up a lot of time for the HR team and recruiters. AI helps organizations streamline the whole process.
Artificial Intelligence enables organizations to use tools that scan resumes and quickly identify those most appropriate. They can be set up to search for specific keywords on resumes. Hiring managers are then able to quickly shortlist candidates who meet their criteria. Automation of this process can reduce the amount of time needed to finish the process, and it ensures high accuracy. AI is a key component in streamlining hiring processes or recruitment and improving the efficiency of HR departments.
Predictive Sales
AI-powered software can be used to improve the sales performance of organizations. Data sets are used to collect, interpret, and analyze data in order to find potential leads. Your sales team will be unable to collect and analyze this data without the use of advanced algorithms. AI-powered tools can provide organizations with a competitive advantage in the scenario described above.
AI can be used by organizations to analyse sales trends and patterns, just by looking at the purchasing habits of their customers. AI-enabled products and services can also identify clients who are more likely to purchase goods or services. The accuracy of customer profiles can be improved, allowing organizations to identify more leads and save time for their sales team. A comprehensive analysis of historic sales data also allows organizations to better draft and implement sales campaigns.
Project Management
Every organization has to manage multiple projects in a limited timeframe and budget. The most forward-thinking organizations are already using new technologies to help manage projects. There are several Professional Services Automation solutions (PSAs) that can help manage projects in real time. The AI-powered PSA solution collects real-time information and provides project managers with inputs live from the project’s resources.
The PSA solution collects all data related to a project such as the work completed, work remaining, estimated dates etc. These AI-powered software tools collect data on other critical metrics of a project, like hours, cost, and billing. Data can help project managers manage and communicate with their stakeholders in real time. It helps to achieve operational excellence, and increases productivity.
Resource Management
To achieve higher levels of productivity in your business, it is important to manage resources intelligently. We know that businesses are often negatively affected by sub-optimal resources utilization. Although it can be difficult without an AI enabled resource management system, organizations are still able to overcome this challenge. AI-powered tools can assist organizations in managing and supervising their resources.
AI-powered management tools monitor closely what you resources do, their skill sets, and the tasks that best fit their competencies. You can manage diverse resources, assign tasks that are best suited for their expertise and skills, and monitor them granularly. This also allows businesses to achieve greater accuracy when planning capacity, including resource forecasting and hiring needs. An AI-powered solution for resource management can improve productivity and resource usage.
Real-time operations
Organisations invest considerable time in gaining valuable insights from data received from customers, clients and technology partners. There is usually a team dedicated to reviewing invoices, analyzing customer questions, and conducting consumer research. This is a time-consuming and error-prone process. AI enabled solutions can be used to manage multiple business operations such as marketing, supply chain, inventory, and product management.
AI can analyze data in real time, and several AI solutions empower businesses by providing live recommendations. The recommendations can be used to analyze and predict risks. This empowers managers to take proactive measures against them. AI can help organizations make faster decisions based on context data analysis, which can then be used to draft more effective strategies.
AI: Get ahead of the competition
AI can increase business productivity. It also offers a range of benefits to businesses. However, it is important that you identify key areas in which you could use AI for organizational productivity. You are in a great position to beat the competition once you identify the most promising application.