02 November 2020

Can AI-driven automation, help your businesses ?

Can AI-driven automation, help your businesses ?

More than ever, you may be looking for ways to make your company more efficient, organised, cost-effective and better able to meet changing consumer needs. Artificial intelligence, in particular AI-driven automation, helps businesses to accomplish this and much more.

1. Improved meetings

The COVID-19 pandemic has emphasised the importance of establishing human relationships, albeit from a distance.  Whilst AI may not completely eradicate the need for meetings, it can help to reduce the tiresome admin involved prior to, during and after the event.

Voice assistants like Google Duplex can arrange appointments for you and Voicea’s EVA assistant can listen to your meetings, record key points and produce actionable notes. A similar app ‘Sonia’, is able to record client calls as well as transcribing and summarising the entire conversation.

2. Improving distribution and marketing

Many standardised CRM (Customer Relationship Management) solutions now integrate AI analytics, which enable sales teams to automatically generate valuable insights. Salesforce’s Einstein AI technology can predict which customers are most likely to generate more revenue and which are likely to take their custom elsewhere. Equipped with this information, salespeople can focus their time and energy where it matters most.

The  use of chatbots is also widespread. Chabots are software applications that provide an on-line conversation platform in place of a human agent. They can assist with driving sales and revenue and in expanding companies’ target audiences. Marks & Spencer introduced a virtual assistant to support customers with solving common problems when using their website: a step that reportedly saved millions of pounds worth of revenue that would otherwise have been lost by frustrated customers leaving their site.

3. Evaluating and improving customer service

Automation is nothing new when it comes to call centre operations; yet one tech company claims to be able to automatically judge the quality of customer service calls. Transcosmos’ AI technology dynamically measures the consistency of the service delivered and can identify unacceptable customer service, with more than double the precision of a speech recognition system.

4. Automating creation of content

This article was not written by a robot; yet it could have been. With the use of AI, computers are now capable of creating beautiful and insightful text; a concept that is used by Forbes to enhance their articles. A range of AI-driven content tools are available from: writing product descriptions, web copies, industry articles and reports. E-commerce leader Alibaba has created ‘AI Copywriter’, a tool which can generate more than 20,000 lines of copy in just one second.

5. Improving the process of product development

Generative design is a cutting-edge field that uses AI to enhance the creative process. Generative design software enables you to enter your design goals and leave the software to identify the possible outcomes to meet your brief. Multiple designs can be quickly generated from a single idea to save valuable time; while the software can also highlight which designs will work to avoid the cost of creating ineffective prototypes.

6. Enhancing the output process

The new generation of robotic systems are capable of operating alongside humans, which has given rise to the word “cobots” or “collaborative robots.” With the advance of AI technology, such as computer vision, cobots are mindful of humans around them and can respond appropriately by changing their pace, or rotating to stop humans, thus improving the overall workflow. Simple to configure and easy to set up, cobots are a promising alternative to help smaller and mid-sized firms compete with larger manufacturers.

7. Refining the recruiting process

AI is quickly advancing in the field of human resources, including recruitment. For major companies such as Unilever, who employ approximately 30,000 employees a year and processes 1.8 million applicants, it is important to find ways to streamline and enhance the recruiting process. Unilever has collaborated with AI recruiting specialist Pymetrics to create an online tool capable of performing initial evaluations of applicants at home; in doing so almost 70,000 employee-hours have been saved.

Yet as good as all this may seem, it is not risk-free. As AI progresses, new hacking techniques also continue to develop.  The use of ‘deepfakes’ enable hackers to create audio and visual methods to deceive their intended targets and lead them to believe that they are conversing with a known associate. When implementing any new technology, we recommend undertaking a comprehensive risk assessment and discussing the insurance implications of doing so.

To ensure that you are covered, contact us today to discuss your business needs.

Latest News

  • Latent Defect Insurance vs. Collateral Warranties
  • Falling from height is the number one cause of fatal injuries to workers accounting for 25% of all fatalities
  • What Happens when a Cyber Threat Hits your Business but your Policy doesn’t Cover it?
All News

Contact us

Call us now or email us on the link below.

Manchester: 0161 393 7111

London: 0203 764 0833

Email us