How AI Can Impact and Transform Your Business

Technology is constantly changing the way we work, and automation is something business owners are keeping an eye on. This is definitely the case with artificial intelligence (AI), with the global market for AI predicted to reach $267 billion by 2027.

Film and media have warned us that if AI becomes too intelligent, it will take over many aspects of life as we know it. This has fueled concerns and fed fears about technology replacing humans.

One study actually found that around 68.5% of college graduates thought that technology would render them useless or lose their job to it in the near future. However, AI can greatly aid human connections and collaborations.

Let's take a look at what the results of integrating AI in your business can be, as well as how it can benefit the wider world of business.

5 Key Benefits of AI for Businesses

Here's how AI can benefit your business and impact its operations:

1. AI can improve productivity

Implementing AI into your business practices can improve employee productivity by helping them work more collaboratively. Take meetings for example – you could use an AI program to transcribe the meeting so that you can refer to it later. It could also offer insights on recurring meetings.

The customer service industry also has a lot to gain from this tech. Economic Impact and Genesys conducted a survey that found that 65% of customer experience leaders saw an increase in agent productivity. 

This shows that it isn’t just workplaces benefiting from AI helping their collaborations; it’s connecting employees to customers as well.

2. It can foster inclusivity and strengthen connections

Over the past few years, remote working has become part of the fabric of modern working life. In the U.S. alone, over 4.7 million people are reported to be using that option. This is another area where AI can assist in forming and strengthening connections.

One of the main pieces of tech used for remote working is video calling, but weak connections can stop work dead in its tracks and slow employees down.

However, advancements in AI have seen that it can help boost connections. This lowers the possibility of issues on the call, as well as having the option to make files less big and keeps the collaboration flowing.

You could even use it to adjust your lighting and background on the call if you wanted to feel closer to the office.

3. It can facilitate more personal experiences

By using AI to give the option of personalization to customers, you can improve your connection with them as a result. AI tools can take data and use it to learn what their specific audience wants within their experience and tailor the content to meet those needs.

When a customer feels catered to, this can have a positive impact on customer engagement and can lead to returning business establishing loyalty.

And if they have any further needs, AI chatbots can be installed so that simpler questions can be answered quickly and efficiently. This is efficient and allows more time for human agents to focus on the more difficult enquiries from customers.

4. It can enhance decision-making

Another area where AI can be useful is finalizing decisions. When you have a group of employees collaborating on something creative, it can be hard to pin down one of the many ideas that get thrown into the mix.

Some AI tools can be programmed to recognize and analyze certain ideas, with a particular focus on isolating them and making a decision based on data. There are solutions for sharing the decision-making process with employees through digital options like IPTV distribution.

So, no matter whether you’re in the office or working remotely, you can feel part of the collaboration and see the progression alongside the rest of the business.

5. It can enhance and boost learning

A great business practice to have is establishing training courses, which AI could help boost. No matter where you land within a business structure, there are always more knowledge and skills to learn in order to progress individually and help the company grow.

However, some of these courses may not be succinct or easy to follow. This is where AI comes in, as it could track where the employees need help in their learning. This aids as a tracking system that can help those who need an extra hand in a more collaborative approach. It’ll also make your employees feel valued and encourage them to maintain their drive to learn more and grow.

In Conclusion

Evidently, there are many ways that leveraging artificial intelligence can boost your business. Once you’ve gotten past the idea of AI making humans obsolete, you begin to see how many human aspects like connecting with others and overall engagement would be helped by AI. 

Specifically, keeping your employees and customers happy is important as a business leader, and AI can help to maintain that. All of these AI benefits and more help in making sure your business sees more success across the board.