Doing the AI Way: Transforming Business Operations
Change is the only constant in life since it is inevitable, and it brings opportunity hence progress. Technology proved it to be true. Today we are in an era that witnessed some of the technological advances that we never imagined could happen. Similarly, artificial intelligence (AI) has the power to push a business operation of an enterprise to the next level adding new dynamics. There are certain tasks which are difficult with only human intervention, through AI organizations could explore such critical areas to improve the business scenario. In fact, AI contributed extensive growth and development literally impacting every area of an organization alongside different industry verticals. Hence, companies readily adopted the change latest technologies brought to stay ahead in the race.
Now let’s look at the areas that improved with AI contribution.
Weaving successful customer experience story
According to industry experts, by 2020 rather than the price and quality of the product, customer experience will become the determining factor for the success of a product, brand or company. Thus, one can observe the amount of time, money and energy the organizations have started to invest to improve customer experience by embracing a holistic approach that can enhance the scope of product and company success in the long run.
The big enterprises such as Adobe, EMC, Amazon, Google, Intuit and many others have started to consider customer experience as a key turning point to successfully operate sales, marketing, and operations. AI not only contributes to run the business smoothly but also can customize requirements improving customer experience through analyzing customer behavior. This helps the business operations team to strategize and adopt means to enhance the customer experience. Market research confirms the fact that customers are likely to switch brands if they feel unsatisfied. AI can prevent this with timely intervention.
Adding thrust to the hiring drive
Although the process of hiring is considered as the backbone of a company, yet mostly this process is flawed in all companies due to bias such as the first impression. Even when we all are aware of the problem with biased hiring, yet the phenomenon never seemed to reduce. Discrimination and considerable hiring based on referral make the hiring drive faulty resulting in a growing number of inefficient resources. AI is very useful in such a situation. In a short time span, it can source resumes in bulk. Hence it boosts the hiring drive accessing the candidates accurately. IBM Watson, for example, helps to identify the right candidate for a particular profile. This will eliminate the issue with biasness and ensure efficiency.
Retaining employees through an employee engagement program
Every company big or small wants to retain efficient resources. Hence employee engagement has become an integral part of business operations. According to market research, employee engagement is essential so companies should try to identify employees who are disengaged at work. AI plays an important role in boosting employee engagement and retaining employees from leaving the organization. With emerging technologies, AI-powered tools are expected to gauge employee sentiment and analyze employee behavior. This will help in motivating employees and through reward programs that can recognize and appreciate the performance of an employee. Concepts like paving a career path for an employee, enhancing skill development and ensuring that the employees feel empowered is critical to retain an employee.
Also, AI plays an important role in enhancing team performance and employee collaboration. Enterprise tools and workplace channels powered by AI make team performance along with individual performance effective and consistent. Such insights can empower managers to structure teams effectively.
AI: truly transforming business operation
Looking at all three perspectives it is evident that AI is a strategic priority for all organizations currently. It can deepen our understanding of customers, recruiters, and employees. AI truly can revolutionize business operations.
- Kathakali Basu