Artificial intelligence (AI) is everywhere nowadays, from mobile phone voice assistants to cameras. So it’s no wonder that businesses are cashing in on its increased prominence and relevance. Businesses are now using various tools augmented by AI. Some of the most well-known among them are enumerated below.
Customer relationship management (CRM)
CRM software solutions have been in use for decades. They have benefited businesses, as evidenced by their continued existence. With AI, CRM gets a significant boost. It can now analyze customer data and interactions to generate insights that help marketing and sales teams predict customer behavior. This allows businesses to create personalized customer experiences, which improve customer attraction and retention.
Outbound contact centers
Many businesses use outbound contact centers for their marketing and sales campaigns. Just like CRM, outbound contact centers continue to exist because they remain relevant. They use new technologies like the predictive dialer of convoso.com and the live sales demo assistant of demoleap.com. These technologies are getting an upgrade with AI, as they take advantage of big data to target customers more effectively and present more compelling sales pitches and demonstrations.
Even the field of human resource management is getting a bump from AI. HR software integrates machine learning to automate repetitive tasks, like scheduling interviews and evaluating resumes. The latter is made significantly easier with AI reviewing tons of resumes to examine candidates deemed more suitable for the company. As a result, companies no longer need to do tedious manual resume scrutiny, which is prone to errors and oversight.
A company’s bookkeeping, accounting, auditing, and other financial functions can be automated further with the help of AI. With the advancement of other forms of AI, particularly computer vision and data science, more aspects of business finances can be automated. Data entry has been made easier by scanning source documents and reading the data on them as if a person is reading and transcribing them for machine readability. Reports and presentations can also be prepared more quickly, with analyses and insights readily attached.
Supply chain management
The oversight and control of supply chains are likewise getting a boost from AI and IoT devices. Businesses no longer need to manually count and oversee the movement of stocks by using IoT or embedded devices that can help track products and provide real-time reports. Additionally, AI-powered supply chain management software can predict demand, anticipate possible supply disruptions, and facilitate better inventory management.
Project management also benefits from AI, as many aspects can be automated. These include the optimum scheduling of tasks to ensure the most efficient use of available resources and the fastest possible turnover. Organizations can also use AI-powered project management tools to harness historical data and come up with sensible forecasts and more realistic deadlines.
AI technology is perceived as a disruptor. That’s why some fear it. However, it also brings many benefits with it. It is up to businesses and individuals to respond in ways that allow them to adapt to the disruption and benefit from the new opportunities.