Do you remember what life was like before smartphones? Perhaps you can even conjure memories of daily life before the internet. Life was simpler, but business was more challenging.
Researching and developing products was a much more arduous task than it is today. Obtaining market data and competitor information required business owners to call suppliers, conduct surveys, visit trade shows, and collect data from various sources that were not always reliable.
Traditional advertising was also far more expensive than digital marketing campaigns are today. Additionally, communication with customers was significantly slower; getting customer feedback could take weeks or even months.
Thankfully, the telephone, fax machine, and “snail mail” gave way to a newer, faster mode of sharing information called the internet. Our traditional analog world was going digital. This provided more efficient use of time and, eventually, more plentiful and reliable information that would all one day fit in the palm of our hand.
Due to the advent of the internet and smartphones, businesses found ways to do more with less than they ever could before. And that generally means increased profits. And profits are good for business. Therefore, tech revolutions have been good for business.
We find ourselves again on the precipice of another tech revolution. ChatGPT, Jasper, and many other Generative AI are transforming major industries worldwide as you read this. More and more tech companies are announcing their plans to integrate AI into their products and services. Despite its billion-dollar blunder, Microsoft may give Google closer competition after recently integrating powerful AI technology into its search engine.
But every business wants to know the billion-dollar question: how and what will AI revolutionize?
Seeing around the corner of such a world-shaking innovation can prove lucrative. Whether in your investment portfolio, company board room, or research and development department, being ahead of the curve will give you a leg up on the competition.
We at GEM joined the hype and have embraced this new technology. No worries- we are still primarily human here, but we thought we’d see what ChatGPT and Jasper have to say about it all. What follows is what the robot gods have answered (with some human-driven prose and polish).
Question: How is AI transforming the business world?
The answer: Artificial Intelligence is mainly changing how businesses interact with customers.
Customer Service & Support
Chatbots are quickly becoming a mainstay in customer service and support departments. These AI-powered bots can understand customer queries and respond accordingly. With the help of Natural language processing (NLP), they can provide accurate answers to common questions and direct customers to the right resources or people when needed. Furthermore, they don’t require any downtime or maintenance, so they can be available 24/7 to assist customers whenever needed.
Marketing & Sales
Chatbots have also been gaining traction in the field of marketing and sales. Companies are using them to identify potential leads, nurture them through their buying journey, and close deals faster than ever before. With the help of NLP-powered bots, businesses can automate their lead-generation process without any manual intervention. Additionally, these bots can track customer interactions across different channels to provide a comprehensive view of each customer’s journey from start to finish.
Productivity & Efficiency
AI-driven chatbots also have immense potential for improving productivity and efficiency within organizations. By automating mundane tasks such as scheduling meetings or sending emails, chatbots free up employees’ time to focus on more critical tasks. Also, these bots can be programmed to monitor employee performance over time to ensure everyone is on track towards achieving their goals while staying productive throughout the day. Finally, this new tech can improve decision-making; Generative AI algorithms can analyze large amounts of data to identify patterns and make predictions to inform business decisions and improve operational efficiency.
With all of these benefits, many major businesses across industries are creating AI-driven chatbots. These include:
The list is growing daily as more businesses realize the potential of AI-driven chatbots to improve customer experience and reduce operational costs. Will your company someday join the list? It is highly likely, and the sooner, the better. To maximize profits, consider how you can integrate AI into your business now before the competition does.
GEM can help with this. Our team of experts can advise how to best align your business goals with the latest technology, such as AI, in a Business & IT Alignment Assessment.
The future is coming and fast. As AI technology continues to advance, the future will likely see even more innovative applications of Generative AI. Be on the lookout for how you can embrace this latest technology and maximize its benefits. Contact us at GEM if you want to join the AI revolution and watch your business grow.
Leveraging Technology For Optimal Business Performance
The Business and IT Alignment Assessment provides an organization with a vehicle to evaluate the maturity of its strategic choices and alignment practices, making it possible for a firm to see where it stands and how it can improve.
With this alignment between business goals and IT functionality, businesses may be able to remain competitive in today’s fast-paced digital landscape.