In the past few years, the business world has witnessed a steep involvement of new technology. Big data, artificial intelligence, predictive analytics have become a key part of operations, strategies, and workforce. Out of all, artificial intelligence and automation have disrupted global business like never before by providing important insights after analysing the data, exploring new business opportunities, reducing overhead expenses, identifying customer buying pattern, enhancing employee productivity, amid others.
The deployment of AI-fuelled automation has acted as a major support in the decision-making areas. The new workplaces are now augmented with virtual assistants, smart chatbots, IoT, which have transformed functions of corporate world by improving overall performance and productivity. According to McKinsey’s recent survey on AI, enterprises are leveraging AI based tools to generate ROI and business value. Also, the survey showed that companies are ready to increase their investments in these tools in the wake of COVID-19 pandemic and disruption of the global market by advanced technologies.
Empower Your Human Capital with AI-Powered Automation
There has been a steady rise in the adoption of artificial intelligence in automation, reducing human involvement in tedious and repetitive processes. A Deloitte survey of 2018 explored the many benefits of RPA and artificial intelligence, including 90% improvement in accuracy, cost reduction by 59%, improved regulatory compliance by 92%, and improved employee efficiency by 86%. Now the question arises how are AI automation and employee productivity related? The answer is relatively simple: AI-powered automation tools, when deployed, take care of routine and complex processes, allowing employees to concentrate more on innovating, imagining, and creating. In this manner, employees become an integral part of the innovation process and the growth of the organization.
With robotics and artificial intelligence-based tools handling rote tasks, employees are no more responsible for monotonous and stressful processes, thus motivating them to engage in other innovative activities. For example, intelligent AI assistants and chatbots can hold intelligent and interactive conversations with customers. According to a study, roughly 29% of customer support tasks can be easily automated. Moreover, smart chatbots can easily handle 80% of customer service queries. In this manner, with automation tools managing repetitive queries, the human workforce can tackle more complicated concerns. Apart from this, the following are a few key areas where automation and AI are helping employees and enterprises improve their productivity and efficiency.
1. Reducing Human Error
Irrespective of the efficiency and skills of human workforce, there is always room for error where manual processes are involved. Automation can help replace these manual tasks with technology-powered processes. When employees are using automated tools to perform these tasks, the scope of error also diminishes.
2. Better Reporting & Improved Insights
Irrespective of the industrial vertical or business strategies, data is paramount and making the most out of data is crucial for the success of any business. With AI-based automation tools, enterprises can make the most of heaps of data and generate valuable insights. Through customized and automated tools, employees can gain insights into present, past, and future patterns. With all insights on a single platform, employees, especially managers have a clear picture about business operations, thus helping them make informed decisions without opening hundreds of spreadsheets.
3. Increased Efficiency of Business Operations
Businesses can improve the efficiency of their operations by streamlining complex tasks, thus saving time, efforts, and money. With process automation, the pre-existing workflows and other processes can be automated while creating new ones for optimum efficiency. This helps in prioritizing tasks and working on ones that are most critical. Automating tasks ensure that enterprises get the best results from their business operations.
4. Improved Customer Satisfaction
Every organization strives to improve customer satisfaction and it is one of the critical challenges to provide customers with streamlined and personalised services. Whether addressing customers’ queries, working on their feedbacks or any other concerns, employees need efficiency and precision. By deploying AI powered smart automation tools, employees can track customers’ details, complaints, and other information from all channels in real-time, thus resolving issues in minimum time.
AI has transformed the corporate landscape all over the globe. By integrating automation and artificial intelligence into business strategies, enterprises can have improved operations and increased employee satisfaction. By automating rote tasks, new employees will get a chance to showcase their skills by innovating and developing new business ideas. Enabling strong collaborations, learning opportunities, engagement between teams while improving employee satisfaction and augmenting employee productivity and experience, AI powered automation is surely the next big thing of the global corporate world.