Will AI deliver tangible business benefits to service-led companies?

A simulation of human intelligence, controlled by a structured set of commands and algorithms, Artificial Intelligence (AI) is a hot topic in tech circles. But for many service-led organisations, transitioning away from legacy systems and embracing AI-based tools still feels like a complicated and costly task. Especially when management teams are still not sure whether the results will be worth it. As such, providers of service management technology must do more to explain the benefits. And show how AI can deliver real results.

Most firms could benefit from AI

Today, Artificial Intelligence is supporting a vast range of business functions. For example, typical applications include chatbots, image/facial/voice recognition, simulation etc. But what are the tangible benefits of implementing AI?

Reduce staff costs

Some experts predict that AI will surpass human intelligence around 2045. But AI is already able to complete many administrative and laborious tasks. And it can do this quicker and more accurately than humans. So, if you want to cut costs, AI can help you to streamline your teams. Why employ three people to input data when AI can do this faster and around the clock? With less chance of human error?

Make smarter personnel decisions

While some jobs will be lost due to AI, as with any significant change (e.g. the industrial revolution), advancements are likely to create as many new posts as they replace. What’s more, by reducing the pressure on human workers and performing repetitive and admin-related tasks autonomously, machine learning and automation are generating significant time savings. And this frees up human employees and empowers them to focus on higher-value and more innovative tasks.

Become more competitive

By using AI, service-led businesses can transform inefficient processes and differentiate themselves in a crowded and competitive market.

For example, AI can be used to support preventative maintenance. With the ability to predict precisely how long each asset should take, you’ll also be able to allocate resource more efficiently and track the performance of your planned maintenance contracts. But more than this, with AI, organisations will soon be able to move from preventative to predictive maintenance – with machines having the ability to self-diagnose, identify the reason for any problems, and book their own repairs.

Of course, humans still have to carry out the repairs (for now at least), but this combination of AI and human intelligence is set to be truly ground-breaking.

Boost customer satisfaction levels

AI technology is changing how customer service is performed. Increasingly, AI-powered tools such are being used to resolve customer service issues. Especially as AI technology is becoming smarter at understanding and analysing human speech and text. And, while you might think that people want to talk to real people, this is not the case.

With AI, customers are receiving quicker responses and can use self-service customer care options as the first point of call. The trick is to find the right balance and ensure issues are escalated to a human being where needed.

Keep employees happy

As AI becomes a standard way of doing things, employees will increasingly be turned-off by companies that don’t give them the tools they need to work efficiently.

Manage your data better

In a world where data is now vast and valuable, managing this data has become all but impossible without technology. AI and intelligent automation enable large-scale data analysis quickly and easily. And, armed with this data, organisations can make smarter decisions that help them to thrive and grow.

But that isn’t all! Find out how else AI can help your service-led business here.

The truth is, as we start to look forward to the next decade, AI will soon become used by most, if not all, service-led companies. So, if you are not yet sold on the tangible business benefits and ready to invest, you will soon fall behind those competitors that are doing all they can to ensure a competitive edge.

For more information on how our software can help you to work smartercontact us today for an informal chat.