Despite all the technology we live with on a daily basis, there is still a great fear about Artificial Intelligence regarding its use in companies and, more directly, its role in the future of jobs.
If, on the one hand, these intelligent machines and software have the ability to automate activities and thereby eliminate jobs; On the other hand, they allow professionals to remain more focused on tasks that offer higher results. That is, AI acts as an ally of the company.
Take for example a customer segmentation analysis where information such as job title, department and age is collected. With Artificial Intelligence the analysis becomes more complex as customers will be divided into groups classified by similar behaviors such as complaints made, interactions with the company, or their purchase history.
According to research by Deloitte, early adopters (people more likely to use new technologies) remain optimistic about the value of cognitive technologies. Among them, 63% said their AI initiatives are necessary to reach their rivals or to take advantage of competitors.
A study by Tata Consultancy Services (TCS) found that companies that achieved a 16% average increase in revenue gains and cost savings were those that invested five times more in AI, while companies that invested less had a growth of only 5%.
Even with this positive scenario, many companies still believe that AI is totally out of reach. This belief is based on the assumption that an AI-based system or solution would be very expensive and difficult to implement. This misinterpretation of the cost-benefit ratio needs to be changed and open to new technological possibilities.
Several companies with innovative culture already invest in Artificial Intelligence continuously. With this they have achieved excellent results in improving their processes. Other organizations still do not invest, but have the goal of achieving this implementation in the near future.
However, there is still a lot of taboo around the subject in more traditional companies. To change this scenario, it is essential to gain a deeper knowledge of the subject and to realize that AI is possible (and advantageous) for all types and sizes of enterprises.
The use of Artificial Intelligence in companies offers benefits in all areas, from management, to financial, commercial and all sectors where automation is needed.
For example, Business Intelligence (BI) is an effective tool that provides a daily overview of the operation and enables you to track your company’s operational KPIs. It is also possible to use budget management software to carry out strategic planning and analyze indicators on a monthly basis.
Artificial intelligence enables more efficient production. This leads to cost savings, energy savings, waste reduction and increased worker safety. Here are some more AI tools that help business management.
Intelligent systems are able to predict scenarios and find solutions to certain problems. By using it, you can measure the effectiveness of your company’s marketing campaigns or action plans to assess their effectiveness before putting them into practice.
There are also technologies capable of segmenting customers based on their predictive behavior. From this analysis, consumers are grouped according to their response patterns to brand actions and data is available to assist the manager with future sales predictions.
According to a Gartner forecast, by 2020 predictive analytics is expected to attract 40% of business intelligence and analytics related investments, and is considered a booming market. With this data, it would be possible to have greater control of operations and offer the customer a fully personalized experience.
One of the tools that is very hot right now is chatbots. It is a software capable of simulating the relationship of a human being in a customer service. These applications are able to recognize names, numbers printed in documentation and to evaluate customer expression.
When linked to company databases, they make connections to what the user requested. Then, they make the decision to forward requests to the human attendant or solve the problems presented on their own.
For example, client Ana visits an insurer’s website and accesses the chat (which is actually an Artificial Intelligence chatbot) to answer some questions about the company. The machine receives and analyzes the customer issue and can then take one of two process streams.
If the question is simple, that is, a process already registered in its database, it provides the answer immediately to the user. Now, if the request is more complex, it automatically forwards the doubt to a (human) employee who will continue the service.
Its use also allows you to automate everyday tasks such as vacation request, which can now be done via WhatsApp. The whole process is done directly with a chatbot, who responds instantly to the employee and already performs the procedures on payroll, respecting all company policies.
Finally, chatbots can be more simply defined as robots that have the ability to talk to a company’s customers via text or voice messages. They are able to make a sale without any human intervention, to learn from machine learning and to adapt to new situations.
Although they still have limitations (the tool is not able to answer the most advanced customer questions by itself), chatbots are a breakthrough and greatly benefit businesses by providing immediate customer answers.
They are smart applications that perform simple processes. With them, the user can consult calendars and schedule or view tasks, trigger alarms and enable reminders for certain actions.
Well-known examples of virtual assistants are Apple’s Siri and also Amazon’s Alexa. These applications are two of today’s most advanced personal assistants. They help with household chores such as organizing a schedule, shopping, and more.
We understand as automation the act of making a process automatic. In companies, we refer to those tasks – often repetitive – that previously took several hours for a human being to perform, and today can be performed automatically by machines.
Their role in companies is to streamline processes, streamline tasks that require more mental effort, increase productivity, reduce costs, and improve service quality. That is, facilitate the routine of the team.
Process automation can unite databases across all sectors of the company into one information system. This reduces the number of errors, prevents miscommunication, and speeds up data processing.
Artificial Intelligence provides safe and efficient task automation. They can be automated from the simplest, most repetitive to the most complex tasks that require the most effort and dedication from an employee.
The more a company’s tasks are automated, the more staff time is available to devote to other necessary demands. This process makes the business more agile, profitable and productive.
Management applications have distinct applications and are used for a company’s management processes. They offer, for example, a package of programs to ease office work and help companies speed up their business processes.
There are also performance appraisal tools where the manager can measure employee performance and identify those who are meeting the stated goals.
Another utility is word processing work, which is capable of creating, storing and retrieving documents, drafting documents on demand and developing effective sales presentations. It can store all collected customer information in the database application.
With the help of this software, companies can more easily track the history and progress of each project as well as the completion time of each.
Management applications have many applications for various business processes. A single application can accomplish multiple tasks, saving businesses time and money. Enables data integration, facilitates regulatory compliance and visibility of information.
Information sharing for employees can also be performed using this software. As we can see, it is a system that is extremely useful for business growth and capable of providing numerous benefits to organizations.
One tool that helps a lot in management is the dashboard. These are platforms used to track operations and identify critical points. By interpreting the information generated by it, a decision-based decision-making aid is offered.
If previously the challenge for companies was to be able to gather and analyze as much data as possible to realize the best insights, today we can make the machine work for us, learn from our usage trends and present ever more detailed and efficient dashboards..
Algorithms (set of rules and logical procedures that lead to the solution of a problem) can help create ever smarter dashboards. These systems can create correlations that at first would be impossible for a human being to accomplish on their own.
For example, Lucius, the manager of a large company that has branches all over the country, realizes that sales rates are doing well with all the charts growing. Except for stores located in the Northeast, where they have a slight decrease in sales.
After Lucius analyzes the information presented in the dashboard, he can create relationships between the region-specific data and align it with the sales figures. This will make it easier to find out what caused the drop in sales and correct it immediately.