How AI is Changing the Field-of-Play for Organizations
Artificial intelligence can be found in many of the devices and software systems we use for our personal lives and professional responsibilities. Whether it’s the digital assistant you keep in your kitchen to set voice timers while cooking or the customer service representative you’re sending messages to about return policies online, this technology is encountered more and more each day as its capabilities expand.
Many organizations are integrating digital software programs that come with AI technology built into them in order to modernize, digitize, and increase efficiency for purchasing and production. Chatbots, one of the most popular types of tech benefiting businesses, are digital assistants often incorporated into digital software programs internally to save the time and energy of an employee. The chatbot serves the purpose of answering site visitor questions and handling customer service requests, which can free up time on employees’ busy schedules and allow them to dedicate more time to other projects.
While these virtual helpers can assist companies with human resource efforts and onboarding processes, a main portion of the undertaking is the automation of mundane, time-consuming tasks that happen on a daily basis. Scheduling meetings, booking conference rooms, requesting time off or approving timecards are just a few of the capabilities that internal chatbots used by employees can take on.
Externally, chatbots can positively impact the customer relationships developed by a business. Chatbots personalize the customer onboarding experience and can improve retention by engaging them throughout the entire process and assisting in building lasting customer relationships. For example, customer service-oriented chatbots are available to assist customers 24/7. Without a chatbot, customers would have to wait until a human representative is available, which may not be for several hours, or even days.
Part of the technology responsible for running these automated bots is called machine learning. Different sectors of business are experimenting with machine learning to benefit their internal teams, as well as their customers. When this application is integrated into an AI system, the bot has the ability to learn from experiences automatically. This feature allows the bot to improve its efforts without having to be re-programmed regularly or taught the capabilities through human intervention.
Various internal business solutions have AI-capabilities with machine learning to better the interactions and experiences to help streamline production. This innovative technology is integrated into different types of virtual assistants for many tasks, such as expense reporting and project management. In cloud ERP systems, for example, an expense reporting assistant automates expense reporting by creating, classifying, and matching the expense items. The assistant uses machine learning to improve the classification process and to reduce audit risks.
Restaurant technology providers have begun incorporating this technology to personalize relationships with potential customers externally. Taco Bell has successfully added machine learning capabilities to its app, in which the technology gathers the most relevant items from the menu and pushes promotions based on the individual app user’s behavior. This feature has directly led to an increase in sales placed on the app and has improved customer retention rates..
While the capabilities of machine learning and AI are still being explored and created, updates to the technology we currently use continue to happen. Consumer products that use this technology can be found on nearly every person. Most smartphones have this technology enabled automatically, so users are able to have voice assistance at all times. Voice assistants can be found in most new cars, smart home devices, business websites and applications, and more. As further advancements are made and are incorporated into tech devices, machine learning and AI will propel new product innovation and data analysis.
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