The use of AI for business applications
Artificial Intelligence (AI) has become a game-changer for businesses across various industries, with many using AI to their advantage in numerous ways.
AI can quickly process large volumes of current and historical data, drawing
conclusions, capturing insights, and forecasting future trends or behaviours. These capabilities can help businesses make better decisions regarding customers, offerings, and directions for future business growth.
Accounting
Many accounting software tools now incorporate AI for different functions such as
categorising transactions. AI is very useful in reducing input errors and identifying duplicate transactions.
Content generation
Generative AI can assist in writing, researching, editing, and creating graphics,
videos, and other media.
Information Technology (IT) operations
AI can streamline data and maintain IT infrastructure, automating tasks like
performance monitoring, workload scheduling, and data backups. Some IT
professionals use AI to gain better insights into the root causes of anomalies and
errors, enabling them to resolve system issues more quickly.
Human resources
As AI is very useful in terms of collecting, analysing, or processing information, saving companies a lot of time in terms of human resource management.
Sales and marketing
Sales and marketing departments can use AI in a wide range of possibilities,
including incorporating it into CRM, email marketing, social media, and advertising
software. Generative AI can create or assist in creating various creative and useful
content, such as social media posts and design assets.
Customer services
According to Forbes, there is no doubt that AI is the future of customer service. One of the biggest opportunities and fastest adoption rates is in customer service.
By automating mundane tasks, AI could provide a better experience for customers
with more self-service options and help fix some of the industry's biggest problems, especially employee burnout and inefficiency.
Most customer service requests are fairly mundane or repetitive, such as tracking an order, checking a balance, or resetting a password. Modern customers increasingly want fast, convenient service. Leveraging AI to provide frictionless self-service through bots and other channels is a win for customers and agents: it provides faster, more efficient service while also removing much of the repetitiveness for agents.
Tools like chatbots, callbots, and AI-powered assistants are transforming customer service interactions, offering new and streamlined ways for businesses to interact with customers.
