Three Types of AI Your Business Team Must Understand

We now live in an age where Artificial Intelligence (AI) is driving better results for the human workforce. Companies are actively utilising AI to set themselves apart from the competition, and there can be no doubt using Artificial Intelligence is now a business decision even more than it is a technology one.

If you’re part of a business team, evaluating a sophisticated technology like Artificial Intelligence can be crucial. AI for business needs can be viewed from three major perspectives:

  1. Automating business processes
  2. Making sense out of your data
  3. Improving customer experience

Automating business processes

A few months ago, NASA was reported to be cutting down on costs by evaluating Robotic Process Automation (RPA) solutions for batch processing financial management, payroll and other operations. The agency went ahead and implemented RPA to enhance their activities and improve efficiency. Today, over 85% of NASA’s financial management processes are performed by AI-enabled RPA bots.

This is a classic example of how AI-based RPA bots can prove great value to businesses looking to automate their processes with ease, efficiency and very high accuracy.

Making sense out of data

For as long as we can remember, businesses have collected data from various sources. Collection of data does not necessarily involve privacy-sensitive practices such as the tracking of employees; it usually pertains to Key Performance Indicators (KPIs) and company metrics relating to sales and performance.

Using AI to build statistical models to drive data-driven strategy decisions can be crucial to a business. Imagine knowing as a business exactly what activities to perform and how to do that to get optimum results for your company. Artificial Intelligence can provide a wealth of such analytics-driven actionable insights from your data that can greatly amplify the Return on Investment (ROI) seen by your business.

Improving customer experience

Customer experience is at the centre of everything. Whether you’re selling your products/services to another business or to end-customers, the way your clients experience your brand is of the utmost importance.

Using AI to assist customers in performing various tasks to know more about you or to enhance performance in your areas of improvement can differentiate you from everyone else in the industry. Businesses should take an incremental approach while implementing Artificial Enabled systems, rather than a transformational one. The best way to utilise AI is to enhance your workforce’s efficiency with assistive intelligence.

What to do next

The first step in knowing where exactly Artificial Intelligence will enhance your business is to run a workshop with experts who have already implemented AI in production. If you think your business needs an AI evaluation, reach out to us, and our team will be right there to help you out. Contact us.