Before delving into the role of artificial intelligence in companies and its importance, it is necessary to understand what this concept means and its basic foundations. This is basic since, in the organizational context, 37% of executives indicate that one of the main challenges of implementing artificial intelligence in companies is that managers still do not fully understand what this type of technology is and how it works.
So, what is artificial intelligence? As a discipline, artificial intelligence (AI) consists of a set of technologies and methods that allow the development of computer systems with 4 “human” capabilities:
- Perceive: AI makes computers able to “perceive” their environment, by being able to extract, process and analyze the contents that surround them, such as images, sounds, texts, data, etc. To do this, AI often works together with Big Data technologies.
- Understand: By processing such content, AI enables data analytics tools to “understand” the meaning of things in a way similar to how a human being would do. That is, finding patterns, establishing symbolic relationships, etc.
- Act: After understanding an environment, a situation or information, AI gives machines the ability to make decisions and execute actions in both the physical and digital worlds, autonomously and without human intervention.
- Learn: Through techniques such as machine learning or automatic learning, computers are capable of learning about any subject by themselves, thus developing an increasing capacity for self-sufficiency and continuous self-improvement.
By combining these four abilities, AI seeks to emulate the human intelligence in machines. Hence, the use of artificial intelligence in companies is increasingly widespread. Furthermore, 9 out of 10 companies consider that investing in AI represents a business opportunity for their company.
The importance of artificial intelligence in companies lies mainly in the fact that, thanks to it, business and production processes can be optimized at an unprecedented level in history. In fact, 89% of companies project that AI will help them optimize their operations, while 74% estimate that AI will help them acquire new customers.
For example, part of the AI importance in companies is because they can analyze data in real time, develop products tailored to each buyer and personalize commercial messages based on the company’s knowledge of each potential customer. This kind of actions are completely transforming the shopping experience of different audiences around the world. On the other hand, artificial intelligence in companies is also important internally, either to boost staff productivity, reduce error margins or improve decision-making, among other things.
In general, the AI impact on companies is very varied, depending on the sector, the type of AI solution used, the size of the company or its organizational culture, among other factors. As an example, the following data may be useful.
If we talk about the AI impact on companies in terms of their workforces, it is true that AI has occupied a large number of jobs, but it is also estimated that, by 2022, its use will allow the creation of nearly 133 million new jobs.
In relation to sales performance analysis, we all agree that sales are the key to any business. Tools like Gong use artificial intelligence to evaluate emails, calls or conferences to analyze what has and has not worked when it comes to selling. These platforms compare the sales techniques used by a company´s different sales representatives, analyzing variables such as the vocabulary chosen or the time spent speaking or listening. With this, the most effective techniques can be established to be executed by the rest of the team.
Regarding its impact in terms of commercial activity, it is estimated that, by 2025, AI may manage up to 95% of all customer interactions. This will happen, mainly, through technologies such as chatbots: conversational bots capable of serving consumers in real time via chat, telephone calls, emails and other channels, with such an effectiveness level that the user may not distinguish if he is interacting with a human or a bot. Also, AI can help sales departments increase their lead capture by more than 50% and reduce their call times by between 60 and 70%. Finally, if implemented correctly, AI will be able to generate, on average, a 38% increase in their profitability levels by the year 2035.
With all this, it is shown that it is very profitable to incorporate new technologies for your business to prosper. Not only because you can minimize manual tasks that don´t allow you to focus on running your business, but also because you save time and money by increasing your productivity and your profit margin. What are you waiting for to enter the world of artificial intelligence? It is highly recommended that you start your business digital transformation process today. The sooner you get on the train of new technologies, the sooner you will begin to enjoy all its benefits.
