Reimagining Business in the Age of AI

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Reimagining your organization requires major overhauls and not small incremental changes. What it implies is to zero in on areas that lag behind in performance and then search and deploy the right technology solution. With digital disruption going mainstream, cognitive technologies like AI will soon turn out to be the de facto model that organizations pursue. In fact, AI adoption rates among businesses keep escalating and the market is expected to be valued at 190.61 billion USD by 2025.

Brimming with possibilities, AI’s capabilities extend beyond automation and more into sustaining existing business processes with renewed vigor. Leaning towards a data-centric approach will push organizations to deploy state-of-the-art AI solutions to monetize real value from data. Besides, getting AI to work in your organization meant a new division of roles. Not full-scale replacements as many foresee but a considerable reduction in workload by taking over repetitive tasks and augmenting human functions instead.

So, how does it come together? How can AI deliver measurable outcomes in your organization’s functioning, so that it aligns closely with your core business objectives? How will it usher in a complete reimagining of your business? Here’s how:

Delivering Compelling Customer Experiences Across Touchpoints

Today’s customers are highly informed and decisive. While interacting with a brand, customers expect a hassle-free experience, which remains the key to their further continuing and maintaining loyalty for an indefinite period. Research has pointed out customer experience as the chief differentiator that will define businesses a few years down the line. Pairing with AI will help your business deliver compelling end-to-end customer experiences across every single digital touchpoint that you offer service.

By crunching out customer data, an AI-based solution can assess the experience index of each customer. Are they satisfied with the overall experience? What are their interests? Are they showing signs of dissatisfaction and considering churning to your competitors? Using these insights, you can tap into your customers’ needs and realign the services to bring in optimal experiences through personalization. Besides, deploying AI at your customer service front-ends narrow down the response rate by giving quick round the clock support.

Optimized Business Processes for Multiplying Efficiency

Typical administrative and backend functions deemed mundane and repetitive can take up your employees’ valuable time and effort. If redirected towards more productive ventures, these can contribute to measurable enhancements in the quality and efficiency of the work done. From product recommendations to data crunching, organization, talent recruitment and even interacting with customers first hand, AI can bring automation into these tasks and optimize them for greater speed and accuracy.

This does not necessarily replace the role of humans working behind. For instance, deploying an AI at your organization’s customer support help desk does in no way cut down on your employee count working there. Instead, it will augment their functioning and keep their focus centred on matters of priority whereas the AI will take care of the rest. AI brings optimized process across the entire gamut of operations that you work on to make them intelligent, actionable and data-driven, which will eventually spin off increased ROI and efficiency enhancements.

Redefining HR Practices for Better Workplace Engagement

Getting AI into your organization’s HR department is arguably the best way to streamline key processes like talent acquisition and workplace engagement. Being a central aspect that defines an organization’s culture and environment, screening potential candidates should, therefore, be fully free of any human bias or discrimination. Such a thing is virtually impossible when humans are behind, which is where AI fits in. Integrating AI into HR can eliminate any biases that may creep up during the hiring process and assists in pointing out candidates having the right skill set out of a broader talent pool.

In areas like on-boarding, AI’s role will be defined by acting as a reliable and accessible knowledge base, which guides new employees by instantly answering any of their queries. In addition, AI-powered tools also foster a better workplace environment by leveraging innovative technologies like sentiment analysis. These tools can assess employee behavior to identify if there is any lack of engagement or morale and issue recommendations aimed at motivating them for raising their engagement levels.

In a Nutshell

The prospects for businesses in this age of AI teems with promise. It is inevitable. That is what executives in various industries are optimistic about. Eventually, AI will play a defining role in all future businesses. 

AI is viewed as a truly disruptive technology that will greatly improve efficiency all the while lowering total costs. Its adoption, although slower at present, will accelerate in the coming years to help companies meet upcoming challenges and stay ahead of competitors. As an organization, your liability is to realign the core frameworks, workflows, and culture by crafting an effective strategy to embrace AI in all its entirety.

About the Author

Tony Joseph believe in building technology around processes, rather than building processes around technology. He specializes in custom software development, especially in analyzing processes, refining it and then building technology around it. He works with clients on a daily basis to understand and analyze their operational structure, discover (and not invent) key improvement areas and come up with technology solutions to deliver an efficient process.

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