Why Do Companies Need AI?

AI changes how we conduct business in addition to boosting human productivity

Artificial intelligence (AI) has become more common for a while. It changes how we conduct business in addition to boosting human productivity. In fact, according to 86% of CEOs, AI will be widely used in offices by 2021. It's essential in never-before-seen ways, from predicting customer behavior to reducing data entry.

This shouldn't be surprising, given that AI enables far faster and more accurate decision-making than before.

Here's why AI is important

1. AI in Sales

The proportion of humans to machines in sales is being re-evaluated by seasoned salespeople and sales organizations. Automation AI is already impacting sales and will do so going forward. According to a study published in the Harvard Business Review, utilizing AI in sales can boost leads by more than 50%, shorten call durations by 60–70%, and lower costs by 40–60%. These numbers make it crystal clear that company owners wishing to boost their bottom line should look into artificial intelligence.

2. AI in Marketing

AI-based intelligent technology solutions are being fast adopted by many enterprises and marketing groups to increase operational effectiveness while improving customer experience. Marketers can acquire a deeper understanding of their target demographic with AI. The acquired data can subsequently be utilized to increase conversions while also reducing the workload of the marketing team.

3. AI in Customer Support

Businesses go to great lengths to ensure that clients appreciate working with them and want to refer them to others. Rapid problem resolution is one of the finest ways to keep customers happy. But for businesses that are expanding, this can become challenging as more and more orders pour in. Businesses are incorporating AI-based Chatbots into customer support teams to enhance the customer service experience.

4. AI in Accounting

As was already mentioned, AI has the potential to automate tedious processes, improve accuracy and efficiency, and uncover hidden trends. It is capable of reading, categorizing, and uploading files using the proper accounting codes. AI is error-free and awake at all times. It is, therefore, not unexpected that AI is advancing in this challenging subject.

5. AI in Human Resources

Experts in human resources work in a very different setting now than they did before the COVID-19 epidemic. Virtual recruiting and a stronger focus on diversity and inclusion have helped to create new dynamics as a hybrid, and remote workforces continue to grow in size. New platforms and solutions are required to be competitive, and AI is driving this progress.