AI has been a popular talking point in the technology field for years, yet many businesses haven’t implemented effective AI solutions into their operations.
These businesses are losing out on the significant benefits that AI can provide, and it is for this reason organisations should take note of Microsoft’s AI 360 strategy.
4 Key benefits of AI in business
There are four key benefits of AI in the business sector. These benefits are discussed below.
1. Engage customers
Any opportunity to increase your customer engagement is something that should be prioritised – particularly in the 21st century, where it is difficult to grab and hold the attention of potential clients.
This is just as important when a customer has an issue or query that needs to be resolved timeously.
AI can drive customer engagement for your business thanks to its ability to optimise your current customer engagement processes.
This includes the shortening of conversation cycles, providing advice to customers, and reducing the time taken until a resolution is found.
2. Enable employees
If you are not using AI effectively, your employees are spending valuable work hours performing mundane and simple tasks that could easily be undertaken by AI-powered systems.
AI can also upskill your employees by offering improved and relevant organisational knowledge to them, allowing them to make better decisions.
The effective utilisation of AI can also enhance the predictive capabilities of your staff, which in turn allows them to be prepared for the most likely business scenarios.
3. Optimise operations
Your business operations can be streamlined by implementing AI effectively within your various processes.
Features that can be implemented or optimised by AI within your business operations include intelligent prediction, deep insights, and operational efficiency.
Operational efficiency is particularly important as it ensures that your business runs smoothly and doesn’t waste resources – including time, money, and information.
4. Transform products and services
By transforming your products and services, you can stay ahead of your competitors within the market.
Achieving such innovation requires advanced analytics and AI to be used in tandem.
This, in turn, can enable the development and launching of new and improved products or value-added services, and will allow you to learn from any launch issues or challenges.
Microsoft AI 360-degree model
These benefits are one element of Microsoft’s AI 360 model, which allows businesses to unlock the benefits of AI.
“Technology is changing and developing all the time. The myriad, almost endless, of potential uses of AI are both exciting and overwhelming,” said Microsoft.
Its model is therefore designed to assist businesses by sparking conversations and providing strategic structure regarding how AI should figure in their digital transformation planning.