Artificial intelligence (AI) is a buzzword that’s been on people’s minds for the last 20 years—but the vision of what it is has changed dramatically. Instead of futuristic humanoid robots tottering around major city streets, what we see now is a leading way to help customers interact with companies. AI is changing how we market and how we serve customers, but it’s also reshaping the job market and creating jobs that didn’t exist before.
Here are a few examples of how AI is transforming businesses and helping them save money in the process:
Reducing the Need for Expensive Real Estate
Almost every company used to have at least one room for customer service calls. Call centers are one of the top costs for medium to large companies, because the turn over rate is higher than it is for most other jobs and the pay is often competitive.
Today, companies need fewer people to answer simple questions because they’re using AI chatbots for online customer service. Business real estate is incredibly expensive, and by saving this money companies build their budgets up in more important areas, like in marketing operations and research.
Enabling Employees to Focus on More Value-Added Tasks
Because AI can weed out the obvious questions, customer service agents save time. Instead of telling hundreds of customers to turn a device on and off again, or check that it’s plugged in, agents spend their energy on significant problems and high-quality customer care.
And customers appreciate it! Nobody likes getting rushed through or put on hold for several minutes for an issue that is quickly resolved by AI. Repetitive tasks like answering the same questions on a loop can break down an employee’s morale and might lead them to look for other work. But because of AI, customer service hires stay on for longer and are more willing to go the extra mile for customers.
Making SEO Rankings Competitive
How your company appears in search engines can dictate whether you sink or swim in the marketplace. By using an AI chatbots or other services, you’ll be able to keep your customers on your site for longer and thereby increase your ranking.
Most customers don’t scroll through even to the second page of search results, so you must get your company near the top of the first page. AI helps ensure your company appears near the top of the first search results—right where you belong.
Increasing Customer Service Levels
A company can go from thirty customers to a few thousand in a single night because of how fickle the internet can be. One viral tweet or good SEO ranking can completely turn things around. Unfortunately, it’s nearly impossible to train a whole call center of new employees to make it happen—but luckily AI is scalable.
AI is able to grow with your company, and make sure your customer’s needs get met. By gathering information and talking to your customers, AI can help with campaigns that use account-based marketing and make sure you have any information needed to make advertising more personalized and therefore more effective.
Opening More IT Jobs
AI has shifted what kinds of IT jobs people are applying for. Not only are AI skills the fastest growing on LinkedIn, but they also are one of the most accessible parts of IT to train.
This means that AI-skilled work can be cost-effective, and also that those looking into IT can prepare appropriately for a job right out of college. This allows companies to be pickier about which IT applicants to hire and, therefore, be better about saving money on payroll. Companies win when AI gives them better access to more top talent.
Paying Employees More
There are endless ways that AI can help companies save money. But in hiring, it helps to make sure that what money you do have is spent only on hiring employees that are needed, loyal, and highly skilled.
How? AI is capable of boosting company rankings higher in search engines and ratings, which in turn brings in more clicks and more customers. This alone can help a company grow faster and will lead to the hiring of talented employees that help the company grow. A lot of brands struggle with payroll because they have to be careful about maintaining a strong bottom line, but with how much money it’s possible to save with AI, your company will be able to afford to pay employees more. Well-paid employees stay with companies longer and work harder. By using AI and paying your employees at a higher rate, you can vastly lower turnover and make sure your company gets the best talent for the money.
AI isn’t some mystical futuristic machine that’s going to solve all of your problems, but it is capable of helping your company succeed. Use it to personalize marketing, stay available at all hours, and be one big reason why your customers interact with your brand and website for longer.
AI can help your company succeed—but make no mistakes you’ll still have to put in the work to make it happen!