Before understanding the future of Artificial Intelligence in business, or how AI technologies are impacting the business world, it is important to know what AI actually is. AI refers to any type of computer software that engages in activities usually undertaken by humans, including customer support, business forecasts, and asset management. Years of science fiction movies have led us to believe that AI is a fleet of sentient robots, but today’s AI technologies are far more subtle.
Most of us interact with AI in some way or another on a daily basis, and with its wide range of uses, it is becoming an imperative option for businesses that want to maintain a competitive edge. For the best ways to improve your business, read on for our assessment and analysis of artificial intelligence.
What is Customer Service Automation?
Customer service automation is a customer support process that reduces human involvement in dealing with customer inquiries. Research shows that 59% of customers are more likely to buy when brands answer their queries in under a minute. It has also shown a 40% increase in productivity when businesses use AI technologies.
Customers want businesses to make it easier for them to resolve issues, but a standard customer service team today can no longer meet customer expectations without AI and automation. AI allows business owners to provide a more personalised experience to their customers and can analyse vast data much more efficiently. By deploying the right AI technology, your business may gain the ability to increase productivity and operational efficiencies.
How to Use AI to Improve Your Business Processes
Artificial intelligence can be used for enhancing sales and marketing, assessing and improving customer service, improving meetings, and improving product development processes. It can also be used for automating content generation, enhancing and refining the manufacturing process, and increasing efficiency in asset management.
For the greatest benefits, businesses should look at putting the full range of smart technologies, including machine learning, natural language processing, and more, into their processes and products. However, even businesses that are new to AI can reap major rewards.
Companies today are customised to handle every new software package that hits the market, keeping in mind that AI is an emerging technology and as such, is changing at a fast pace. Whatever your reason for considering artificial intelligence, the potential is there for it to change the way your business operates. All it takes to start is an open-minded attitude and a willingness to embrace new opportunities wherever and whenever possible.
Using Bartercard to Gain New Customers & Generate Increased Sales Income
One of the most useful functions of AI’s modern technology in the business world is in the application of more solutions online, and matters related to sales and marketing. Companies can globalise their markets, with their partners and clients enjoying more availability to various types of services. Online advertising, e-commerce and customer support services have internationalised businesses, helping them to reach people worldwide.
In the same way, Bartercard has created a flexible, secure and fully accountable way for businesses to trade their goods and services with businesses all around the country and the world. Bartercard is one of the largest B2B networks, with thousands of cardholders across New Zealand, who are effectively using the trade exchange to gain new customers and generate increased sales income. So, why not join our highly effective platform today to create your own lasting business partnerships?