AI in business process automation is helping enterprises develop and manage new systems that boost business productivity, speed up decision-making, and help solve real-world business problems through intelligent, scalable solutions.
We live in a technologically advanced era where businesses must evolve in response to consumer demands to secure their positions in the market. Small firms are gradually automating their operations to optimize capacities, improve process efficiency, and take advantage of revenue opportunities from digitization and automation. On the other hand, large corporations are redesigning their present strategies to build stronger enterprise systems and invest in future-ready technologies such as business process automation (BPA) and advanced analytics.
AI is helping improve engagement with customers and helping business owners to make educated decisions with correct information thanks to other allied technologies like machine learning (ML) and analytics. The combination of AI, machine learning, and analytics has major applications in all important elements of a business, which are:
The most significant benefit AI has provided to businesses is the elimination of unnecessary human intervention in repetitive or low-value tasks. Contrary to popular perceptions, that does not translate to downgrading the human workforce but empowering workers with better tools that help them focus more on critical thinking and application of their core competencies. Thus, we have put together five different ways that AI is transforming and boosting company operations in the present world.
5 ways AI is being applied to business process automation
Improve customer experience using Artificial Intelligence
Customers nowadays want brands to respond quickly, and AI-driven breakthroughs enable firms to incorporate voice search or chatbots into their customer service and engagement strategy. Chatbots powered by artificial intelligence improve customer experience and satisfaction by answering questions in seconds and preventing avoidable customer frustration.
Furthermore, chatbots also assist in the discovery of the most appropriate products based on the preferences of the customer. Chatbots, which are created using smart technologies that replicate certain elements of human intelligence and interaction, are gaining popularity, particularly among e-commerce businesses. Business sectors like online meal delivery, for example, are booming, and restaurant owners are adding chatbots into their online ordering systems so that consumers can ask questions about products, orders, etc., and have them answered in minutes. Chatbots and virtual assistants, in addition to providing excellent customer service, offer the following capabilities:
- Voice-based interactions with clients can be interpreted using natural language processing (NLP)
- Accurate insights help you answer your customers’ questions
- Customers should receive tailored services
In a nutshell, chatbots communicate with your consumers, give round-the-clock assistance, and deliver a tailored experience without being overworked.
Streamline recruitment and employee management processes
According to Deloitte, more than 40% of organizations are now incorporating artificial intelligence into their human resource operations to reap long-term benefits. As a result, an increasing number of businesses are using AI-based solutions, while others are already in the process of doing so.
AI can play a significant role in HR operations in a variety of ways, including:
- Recruiting new employees
- Management of Human Resources
- Analysis of public opinion
- Management of performance
Overall, incorporating AI into HR streamlines the hiring process, reduces administrative costs, the burden of document management enables recruiters to better analyze a large number of candidates in a shorter amount of time, and reduces bias against candidates.
According to Gartner, 75% of B2B organizations will have incorporated AI into their sales strategies and processes by 2025. Businesses that do not include AI in their existing sales or CRM platform adoption risk falling behind, as AI has the potential to increase customer interactions and sales.
When you integrate AI into your CRM, you can:
- Analyze client data and determines where your sales staff should focus their efforts based on that information
- Determine accurately and quickky whether or not the customer is interested, and more such uses
You can convert a visitor into a lead using tailored marketing methods like promotional emails and offers based on the customer’s browsing history, personal information, and behavior, which can increase the sales and customer engagement ratio. Additionally, you can begin with sponsored advertising campaigns depending on demographics and data.
Improve customer recommendations
Brands may use AI to better analyze data and forecast customer behavior, allowing them to tailor their marketing plan to their preferences and interests. This level of personalization gives customers a smooth experience and makes them feel appreciated. However, you must first comprehend the customer’s requirements. Starbucks, for example, uses AI in “My Starbucks Barista,” which allows customers to place orders using speech technology or SMS. This level of personalization allows firms to make better product recommendations and build stronger relationships with customers.
Creating, running, and retargeting online ads and campaigns
Paid advertising campaigns on Google or social media are inexpensive and effective ways to capture users’ attention. As a result, employing AI and machine learning algorithms to target the correct group of audiences might help you better understand customer preferences and increase conversions. For example, if you run an online delivery service, machine learning systems analyze your audience’s behavior and feelings to assist you in retargeting them with the most appropriate messaging or products. Furthermore, smart AI algorithms assist you in targeting clients at the appropriate time to urge them to make a decision and convert.
With the introduction of AI-powered technology into the modern enterprise landscape, businesses are better equipped to achieve long-term objectives and target higher growth than with traditional systems. For growing businesses, especially B2C ones, artificial intelligence plays a critical role in resolving consumer issues in real-time. AI is, without a doubt, here to stay for a long time, bringing with it a slew of business benefits.