Future of Work

Are You Leveraging AI’s Advantages in These 3 Places?

Artificial intelligence can provide some serious perks to your business. Despite this, knowing where to apply it can be difficult to figure out. If you’re looking to launch your business’s journey with AI, consider implementing it in these three areas. 

Artificial intelligence is enjoying its moment in the spotlight. However, many business leaders remain uncertain on how best to use this emerging technology fully, responsibly, and profitably. What they crave is direction when it comes to implementing AI in ways that will reap both immediate and long-term benefits.

Perhaps you share this hesitation to embrace AI in all its forms, which makes sense. Without a doubt, though, AI adoption has skyrocketed: Recent PwC research showed that 86% of companies felt AI would be a mainstream component of their tech. Similarly, a 2020 study indicated that about half of organizations have further accelerated their AI endeavors. Still, even if you’re like the 72% of executives who told The AI Journal they felt good about the future role of AI, you might not be certain where it fits into your operational workflows.

The answer is that how you use AI will depend greatly on your business’s unique needs and goals. AI offers plenty of advantages, but it comes in numerous forms. Consequently, the way an automotive manufacturer utilizes AI-fueled solutions will vary from the way a financial institution might. In other words, your job is to determine the right AI mix for your organization’s aspirations. Below are some use cases to consider:

  1. Leverage AI to streamline and personalize your employee training.
    Robust employee training goes hand-in-hand with an exceptional employee experience. And employees who feel connected with their employers are more likely to remain engaged. Nevertheless, training can be a time-consuming, costly prospect. That’s where AI can help.
    An Oracle study revealed that around one-quarter of personnel leaders relied upon AI to ease up their learning and development efforts. And even if you’re not quite ready to let AI lead the way during onboarding or upskilling, you’ll want to consider adopting some AI-empowered tech. For instance, virtual coaches can evaluate a learner’s journey and step in with individualized recommendations. Similarly, AI learning systems can auto-tag training collateral such as coursework, videos, articles, and other materials to make finding it effortless.
    If you’ve ever felt that your training lacks a customized touch, investigate systems with AI baked in. Why make an employee learn something that’s not relevant or that the learner already knows? Leading employees through more tailored training sessions can improve outcomes for them and for your company.
  2. Work with AI to deliver next-level customer service and call center operations.
    AI has arguably been one of the most exciting additions to customer service and support since the invention of the telephone. After all, AI systems enable customer-facing employees to maximize their time. At this point, we’ve all dealt with AI-enhanced chatbots that act as “triage gatekeepers.” The chatbots can handle numerous queries and concerns simultaneously, and they only route more serious issues to human representatives.
    Christopher Shulby, Defined.ai’s director of machine learning engineering, estimates that AI chatbots can tackle about four-fifths of incoming call center requests. Accordingly, having chatbots on your company’s payroll could be far less expensive than finding, onboarding, and reskilling workers. CNBC reporting suggests that chatbots will save corporations around $8 billion in 2022 alone.
    Yet AI’s benefits don’t stop when a call reaches a human agent. As explained by Alex Serdiuk, CEO and co-founder of voice-cloning software company Respeecher, “Businesses can use AI-driven voice cloning technology in call centers to help improve customer service operations; it allows you to change the language and adjust accents so a voice is well-received by the customer calling into that specific location.” Therefore, you can get even more mileage from AI as an agent companion, too.
  3. Try AI to improve meeting productivity.
    The value of the AI market is expected to soar at a compound annual growth rate of more than 40% through 2028. One way to join along on this ride? Folding AI into your meetings. After all, they probably need an upgrade: When asked by University of North Carolina researchers, between 64% and 71% of senior managers had negative feelings about meetings because they felt they weren’t a value-add.
    AI can help you bring value back to your gatherings by making meetings more active and less passive. For example, a Wired article on the topic included an interview with videoconference platform Headroom’s co-founder, Andrew Rabinovich. He outlined how Headroom was designed to provide real-time transcriptions of meetings as well as analysis of a bevy of aspects of the meeting (this includes everything from subject matter to dates).
    Being able to have in-depth information from meetings serves a couple of purposes. First, it allows you to document what happened in a clearer, truer fashion. (Written notes can be flecked with human error and misinterpretation.) Secondly, it allows people to become better at communicating their thoughts as they begin to see their stumbling blocks. Even if you just use AI as a way to teach everyone to be more succinct in get-togethers, you’re bound to reap some rewards.

Depending upon the software and systems you use, you might already be enjoying AI at your company without realizing it. Regardless, take time to consider how you can be more deliberate in your use of this powerful tool to improve operations. AI’s only going to become more integrated into everyone’s future. Harnessing it intentionally now will ensure you’re making the best choices for your company.

Written by Rhett Power.

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Rhett Power
Rhett Power is responsible for helping corporate leadership take the actions needed to drive impact and courage in their teams that will improve organizational performance. He is the author of The Entrepreneur’s Book of Actions: Essential Daily Exercises and Habits for Becoming Wealthier, Smarter, and More Successful (McGraw-Hill Education) and co-founder of Wild Creations, an award-winning start-up toy company. After a successful exit from the toy company, Rhett was named the best Small Business Coach in the United States. In 2019 he joined the prestigious Marshall Goldsmith's 100 Coaches and was named the #1 Thought Leader on Entrepreneurship by Thinkers360. He is a Fellow at The Institute of Coaching at McLean Hospital, a Harvard Medical School affiliate. He travels the globe speaking about entrepreneurship and management alongside the likes of former Gates Foundation CEO Sue Desmond-Hellmann and AOL Founder Steve Case. Rhett Power is an acclaimed author, leader, entrepreneur and an opinion columnist for the CEOWORLD magazine. You can follow him on LinkedIn, Facebook, and Twitter.