The future is automated and if you don’t adapt, you’ll be left in the dust. This fact is particularly true in the business world. Tooled with powerful Artificial Intelligence (AI), you can stay ahead of the curve and automate your small business or established company. When used properly, this AI can improve everything from productivity to overhead costs, and even the smallest companies can take advantage of this new technology.
What Is Artificial Intelligence?
AI stands for Artificial Intelligence and it is central to the rapid automation of businesses both large and small. Artificial intelligence is a branch of computer science that studies the building of smart machines that are capable of performing tasks typically done by humans through the use of machine learning.
Reduced Overhead Costs
Profitability is a top priority for any business owner. Fortunately, automation can reduce one’s operational costs and boost profits, by providing smart technologies that decrease the odds of human error.
On top of that, automated systems can reduce the time it takes to fulfil a task. For example, QA automation tools can expedite processes that would’ve otherwise taken a huge chunk of an employee’s time, and at the same time greatly lower the chances of error.
According to a study performed in 2017 on marketing automation, automation technology increased sales productivity by 14.5%. This same study predicted that the desire for automation would only increase, and has grown by 30% every year in the United States.
How did automation improve sales productivity? Well, in this same study 88% of marketers reported that this software allowed them to spend far less time on prepping data and reports. This boost to productivity is not an isolated incident. By using the right smart software, you can reduce the time spent on remedial tasks and refocus your team to pursue efforts that provide direct results.
Communication is key to any successful business, and with the proper automation tools, you can take your team’s communications to the next level. Discussions carried out in emails, phone calls, or even text messages, can make for messy connections and lead to miscommunications.
On the other hand, an automated communication channel can house all of your touchpoints on a single platform. An automated communications platform can organise and visualise every message, call, or memo seamlessly. Many of these automated platforms can also create specific permissions locked behind encryption so that sensitive information can remain highly confidential.
Increase Customer Satisfaction
Regardless of your specific industry, being able to provide high-quality products and services faster and better will inevitably lead to increased customer satisfaction. That being said, there is also automation software out there that can improve the customer experience.
Technology that automatically responds to customer calls, provides information seamlessly, and answers customer queries promptly can lead to greater customer retention across the board. In fact, according to a study performed by Zendesk, consumers desire automation over human-to-human customer service. Their study found that 75% of those surveyed preferred automated self-service over speaking to a company representative. As a result, businesses that automate their customer service processes often find themselves with a loyal and trusting customer base.
Gain A Competitive Edge
Based on a survey performed by The Economist Intelligence Unit, over 90% of organisations are already using technology to automate their business processes, and that percentage is only going to increase. Automation is here, and by jumping on it now, you can gain an edge against your competition.
And contrary to popular belief, automating your business can be quite easy. Chances are that your business is already collecting data that is vital to machine learning, all you have to do is utilise that data. Automation is here to stay, and with the right help, you can adapt to this rapid change.
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