In our day-to-day lives, AI is more prominent than you would think, with 77% of people using AI-powered devices or services on a daily basis.
In a business context, these technologies can help companies, big and small, to develop more intelligent products, optimise service and help internal business processes run without a hitch.
Now that it’s clear why companies use AI tech, how can it benefit, and in time, transform your business?
1. It helps you hire the best candidates
AI is majorly beneficial in helping businesses to attract, hire and retain talented employees. This is easily one of the most important aspects of the business as employees serve as the foundation that a flourishing brand is built from.
An example of AI that is used for recruitment is intelligent screening technology, such as machine learning.
This is an AI tech that searches for relevant keywords within data (collected from social media, employee history or employer profiles) to match a candidate with the appropriate experience, skills and knowledge up to the job criteria. This system then ranks and shortlists viable candidates.
Additionally, machine learning helps to improve objectivity in recruitment. This is because it screens candidates strictly against the job criteria and is not influenced by any personal bias that recruiters may have, whether conscious or subconscious.
Another application of AI that can simplify the communication with candidates is chatbots.
Chatbots can help with communicating with candidates by asking them basic questions about the job criteria.
Integrating chatbots into this area of the recruitment process also benefits candidates as they are able to hear back about a job and get updates about what they have applied for, instead of being left in the dark.
2. AI automates menial tasks
One of the most prominent advantages of integrating AI into your business’s internal procedures is the stark difference it makes to productivity.
Machine learning programs can assist with everything from doing basic accounting to scheduling meetings and putting together reports.
AI takes the dreary tasks off of the employees’ to-do lists, allowing them to work more efficiently and give more attention to more pressing tasks.
This results in an increase in productivity in the workplace and, in turn, increases in profits.
Monetary benefits aside, your employees will also be happier as you integrate AI programs.
This is because they will have fewer tasks on their plate, meaning less stress. This can also have a positive effect on employee retention, as if people are working in a positive and productive environment, they are more likely to stay.
3. It enhances customer service
Consumers’ desires are constantly evolving, and as our society becomes more tech-driven, integrating AI can help to amplify and streamline customer service.
For example, your business might be in a situation where a customer logs a query and they don't hear back from you promptly, leaving them dissatisfied with your customer service. In a scenario like that, AI can prove to be a great help.
Enter chatbots: an AI tool that enables your business to be accessible to customers 24/7 for any basic queries and concerns. This works by collecting data from a company’s website (FAQs, knowledge-based blogs and articles.)
This helps your business to dramatically reduce response time, which will help to improve your relationship with leads and customers. This is because the more efficient your customer service, the more likely the consumer is to make a purchase or sign up to your service.