person holding trophy

04 October 2022


The Key Benefits Businesses Reap from Artificial Intelligence

Whether we realize it or not, artificial intelligence is already embedded into our daily routines. We ask Siri and Alexa to check the weather, order groceries, and look up the lyrics to our favorite childhood songs. We use Roombas with digital mapping to learn our apartment layout for efficient vacuuming. AI can even offer investing and health advice. A decade ago, AI was a novelty. Today, it has altered the fabric of our lives. 

For customer-facing businesses, artificial intelligence offers similar transformational capabilities—from the way organizations communicate with their customers to the way they use customer data to continuously improve these experiences. 

In this post, we’ll dive into three ways AI can benefit enterprise’s relationships with their customers. 

How AI Benefits These 3 Key Areas of Business 

AI pushes the boundaries of what companies can accomplish if they’re willing to reframe how they think of their data and their long-standing processes—here’s a peek at the change data science can bring. 

1. Transforming Insights into Action 

It isn’t enough for companies to gather data. At this point, it isn’t even enough to understand what the data tells them about customers. The real value of using AI is the opportunity to make faster decisions and act proactively. In this way, businesses can offer their customers real value before they ask for it

For example: 

Artificial intelligence can unify traditional data resources with newer resources such as social media as well as transcripts or recordings from customer service interactions. Thanks to advances in processing, AI can handle a variety of what’s known as unstructured data—raw data humans create in our online interactions that don’t fit neatly into columns and rows. 

2. Creating a Dynamic, Tailored Experience for Customers and Employees 

Companies have always focused on creating excellent customer experiences, but artificial intelligence is improving employee experiences as well. Humans in the loop (HitL) use cases leverage AI alongside human expertise to optimize business processes. In this way, AI can integrate into your employee lineup and remove repetitive, manual tasks so that human workers can conduct higher-level work, such as building relationships, problem-solving, and innovating. 

For example, a company might use an AI-powered chatbot to answer site visitors’ frequently asked questions. Many customers’ questions get asked over and over—such as, “What time do you open?” or “What is your return policy?”

Replacing a human worker with a chatbot has a variety of benefits: 

3. Continuously Improving Performance 

In the manufacturing sector, AI is helping reduce manual processes inherent across the supply chain. By automating documentation using data from purchase orders, shipment handoffs, and delivery notifications, organizations better understand where bottlenecks happen and can pivot without disruption. 

Over time, AI learns from data to improve its efficiency. It can schedule predictive maintenance before it detects a problem. It can flag inconsistencies in purchase fulfillments or notify all required parties of potential regulations violations. It can use historical and real-time data to understand customer patterns so that companies choose how much inventory to purchase, even in high or low-demand seasons. 

Integrating AI into operational processes isn’t a one-time improvement the way it is when companies purchase any other tool—it uses past and real-time data to learn how to make the process better. Companies adopt a culture of continuous improvement as they interact with AI, and employees can spend less time on manual tasks to instead focus on problem-solving and innovation. 

Start Transforming Your Business 

Just as Starbucks suggests personalized offers and Ben & Jerry’s creates new flavors based on demand, AI adapts to a company’s unique needs over time. If organizations are willing to take on (and overcome) the challenge of an AI integration, they’ll be able to streamline their operations, make faster, more accurate decisions, and increase profitability. 

To maximize their investments, enterprises need a comprehensive strategy for AI integration that incorporates the entire organization—from leadership down to operators on the shop floor. 

In our Forrester-commissioned study, Accelerate Your Data-Driven Transformation, we break down how innovators across industries are using data science and machine learning for a competitive advantage. Request a copy of the report today! 

Related Resources