HOW BUSINESSES ARE USING AI FOR SUCCESS 

AI IN CUSTOMER SERVICE 

Remember last time when you chatted with a customer service representative, who seemed to understand what you needed? Yes, it was actually an AI chatbot in action. Renowned companies like Amazon and Starbucks are using chatbots and virtual assistants to take care of their customer questions 24/7. These Machine Learning AI are getting smarter; they aren’t just stuck answering FAQs anymore! Like children at school, they’re learning from each conversation, so the next time you ask them something, they will give you a more precise answer. 

How smart can they be? For example, the French multinational retailer SEPHORA, in partnership with the company VSEO, is using a chatbot that combines customer service and beauty tips called ORA. The chatbot can answer customer questions, help them find products and also give beauty advice as a virtual coach. To do so, Ora will look into Sephora information system, your previous purchases and your preferences. 

In addition of these examples, a report from Gartner says that about 80% of customer service will use AI-powered virtual assistants by 2025. This transition isn’t just to reduce costs (though it does), it brings a faster and smarter service to customers. 

You can also benefit from AI-powered customer service with Wiresk. For example, you could set up a workflow where, after a customer interacts with a chatbot, data is automatically sent to your CRM (like Dynamics 365 CRM or HubSpot CRM). Then, you could trigger a follow-up action in Slack or Microsoft Teams to notify the customer service team. 

AI IN MARKETING 

Did you notice those ads on Facebook or Instagram, that seem to know exactly what you’re thinking? In fact, AI systems can create targeted ad campaigns that feel personal by analyzing customer behavior and preferences. 

Look at Netflix. Based on your watch histories, they use their AI algorithm to recommend you, shows and movies. This feature is a powerful tool that keeps you and I glued to their platform.  

AI can also work as a content creator. Generative AI tools like Copy.ai and Jasper can literally generate everything, from social media posts and blog articles to product descriptions. 

The benefits of AI in marketing go further than content creation, a McKinsey report says that companies using AI for marketing can see up to a 10% boost in sales and up to a 20% drop in marketing costs. This may be an irresistible reason to consider automating your marketing processes. 

With Wiresk you could automate the process of analyzing customer data from multiple channels (like social media and your website) and then push the insights to your marketing tool (like Mailchimp or Facebook Ads). With this workflow automation you would be able to adjust in real time, campaigns based on your audience. 

AI IN OPERATIONS AND SUPPLY CHAIN MANAGEMENT 

AI is also changing how businesses operate in logistics, inventory management, and demand prediction. 

As an example, Walmart Global Tech has invested heavily in AI systems. Running a massive global supply chain with millions of customers is complex, so the American multinational retailer has developed its own machine learning platform called Element to simplify AI use across the company. With Element platform, Walmart gains a faster development and deployment of AI solutions. It improves search results, meaning a better customer experience, it also optimizes delivery routes by saving time and lowers the costs. Element helps Walmart innovate and improve its business operations, making AI easier to use for everyone involved. 

How about replicating these successes using Wiresk? For instance, you can automate your inventory forecasting with your ERP like Dynamic 365 Business central. Set up a Flow that triggers a restocking order when your inventory levels hit a certain limit. 

AI IN HUMAN RESOURCES: 

With over 9,000 LinkedIn members applying for jobs every minute, and countless others using other job search engines, the sheer volume of resumes is astronomical. It’s no surprise companies are in desperate need for tools that can filter this mountain of applications and find the most qualified candidates. 

Take Great Southern Bank (GSB) for example. This Australian leading bank is using HireVue video interviewing and assessment solutions to help the recruitment team better assess and find talent. Actually, this service uses computer vision and natural language processing (NLP) to evaluate candidate’s facial expressions, tone of voice, and word choice during video interviews. The outcome? A faster hiring process that’s less influenced by human bias. 

AI not only helps with hiring; it’s also improving employee engagement. For instance, IBM is using Watson, a combination of traditional machine learning (ML), transfer learning and deep learning techniques to analyze employee feedback and sentiment. This will help HR teams create a more positive and productive work environment. 

Can Wiresk help for your HR process? You could automate HR processes by linking recruitment tools powered by AI with your HR management system. For example, when a candidate passes the AI screening, a workflow could automatically schedule an interview, send out an offer letter, or even trigger onboarding processes. 

AI IN DECISION-MAKING: 

AI systems have the ability to rapidly analyze vast quantities of data, providing insights that would require humans significantly more time to see. 

For example, Google uses Customer match AI functionality to refine its ad placement in real-time. The AI algorithms will decide the best ad to show to a specific person at a specific time, by considering factors like user behavior, demographics, and past interactions. The ads are likely more relevant and effective, leading to better click-through rates and conversions. 

AI can also help with risk assessment and investment decisions. Companies like BlackRock use AI to analyze market trends and make investment recommendations (Systematic investing, often called quantitative investing). The AI system can collect data from various sources like news reports, social media, and market indicators much faster than a human analyst, helping investors make better-informed decisions. 

AI IN PRODUCT DEVELOPMENT 

From designing new products to testing prototypes, AI is speeding up innovation and helping companies bring better products to market. 

Consider the automotive sector. Ford Motor and other car makers are employing Generative AI technology for designing and testing new vehicles. AI algorithms are able to predict the performance of various materials under stress, aiding engineers in choosing the right materials for their designs. 
 
In the technology industry, companies such as Google and Apple are using various AI-driven technology (Machine learning, Natural Language Processing and Predictive Analytics) to create fresh functionalities for their products. AI assists them in examining user behavior and feedback in order to identify the features that users desire and require. This method, based on data, ensures that new products and updates have a higher chance of satisfying customer needs. 

AI IN FINANCE  

AI algorithms can analyze transaction patterns and detect unusual activity much faster than traditional methods, helping to prevent fraud before it even happens. 

For example, PayPal uses risk intelligence and machine learning technology to manage risk 24/7. Their AI system can process an impressively vast amount of data in real time (1 billion monthly transactions). The AI system works as a preventive solution, it will flag suspicious transactions and block them before any damage is done. This protects customers and saves the company millions in potential losses. 

DATA PRIVACY 

Facial recognition is a highly effective biometric technology, but concerns exist about widespread surveillance and the potential misuse of personal data. 

Companies like Clearview AI have been fined multiple times for collecting pictures from the internet, including social media platforms without the permission of users. The algorithm of the company pairs faces with over 20 billion images in a database, then transforms them into a distinct biometric facial code for every individual. Next, Clearview uses this database to sell facial recognition services to intelligence and investigative agencies. This has led for stricter regulations and guidelines on how AI can be used in a manner that respects individual privacy rights. 

ALGORITHM BIAS 

How can AI make biased decisions? AI systems need a lot of data to work well, and if that data is biased, the AI can make unfair decisions. 

In a well-known incident from 2020, Robert Williams got himself arrested for robbery that happened over a year ago. Mr. Williams was shocked to learn that his arrest was the result of a computer algorithm’s mistake. In fact, facial recognition software had wrongly flagged him as the culprit. 

This incident is one of many that Meredith Broussard (New York University data journalism researcher) uses to illustrate the dangers of depending too much on artificial intelligence. 

“Facial recognition technology performs more accurately on lighter skin tones than on darker ones,” says Professor Broussard. 

On that note, businesses should make sure AI bias is managed vigilantly to prevent legal issues, financial setbacks, and damage to their reputation. 

Despite these challenges, many companies like IBM (with their proprietary AI Watsonx.governance) are actively working to address these issues. They’re introducing stricter data protection policies, conducting regular audits of their AI systems, and working with people specialized in ethics (ethicists) to make sure that their AI technologies are used responsibly. 

FUTURE AI TECHNOLOGY 

An important aspect to monitor is customized artificial intelligence. Businesses will have the ability to provide personalized products and services on a large scale as AI engines improve in understanding individual preferences. 

Imagine walking into a store where each product suggestion is customized for you, taking into account your previous buys, online searches, and also considering variables such as your mood or the weather. 

Another exciting advancement is the emergence of autonomous technologies. These innovations, from self-driving cars to drones for delivery, are set to transform transportation and logistics industries. 

The final element is intelligence decision support system (IDSS). Companies will have AI systems capable of making complex decisions through advanced predictive analytics. These AI tools can examine market trends, customer behavior, and international events to recommend business strategies, like when to introduce a new product or how to improve pricing. 

With these advancements come new challenges. 

CHALLENGES AHEAD 

Enterprises will meet new obstacles that demand strategic preparation and adjustment. Staying on top of the fast rate of technological advancements will be a major challenge. Businesses must give resources towards ongoing education and training to guarantee that their staff have the necessary abilities to effectively work with artificial intelligence. 

Another obstacle will involve overseeing the shift towards increased AI-driven operations. While AI can automate many tasks, it also raises concerns about job loss and the necessity for learning new skills.  

Businesses must adapt their strategies to assist employees during this transition, such as implementing retraining or finding alternative positions that use unique human abilities that AI cannot reproduce. 
 
While, new laws and guidelines surrounding AI are being implemented by governments worldwide, companies must make sure they adhere to regulations while also exploring the full potential of AI.