Artificial Intelligence (AI) is reshaping businesses at an unexpected pace today. It is now guiding decisions on everything ranging from bank loans to crop harvests, with many companies considering it to fully automate customer service for better and for uninterrupted engagement.
The technologies that enable AI such as development platforms and huge processing power and data storage, are evolving continuously and becoming increasingly affordable. The time is ripe for companies to capitalize on AI, with many of them have already adopted it which is driving market growth.
According to a recent Statista report, the global AI software market is growing rapidly and is expected to reach 126 billion U.S. dollars by 2025. The overall AI market includes various applications such as natural language processing, machine learning (ML), and chatbots, etc.
The world’s leading names in the tech industry are investing heavily in both AI acquisitions and AI-related research and development. This rapid adoption of AI-based solutions is due to a host of reasons like the growth of data-based AI and advancement in deep learning and the need for companies to achieve robotic autonomy to stay relevant and competitive in today’s world.
In recent years, AI and ML have become drivers of significant productivity in value chains across various industries.
AI capabilities are increasingly becoming imperative for companies to stay competitive. The growing adoption of AI is evolving the way organizations work.
According to a recent survey done by PureSoftware among clients and customers, 70% of adopters said that AI technologies are transforming their company’s job roles and necessary skills, and almost 80% believe that AI will change job roles and skills over the next three years.
AI adoption can enhance the internal operations of a company in many ways.
AI-powered bots are increasingly becoming the secret essential ingredient for the workforce of the future. They enrich their own databases and continuously learn to get better at the task at hand.
But, to make the best possible use of a virtual assistant, you must select the right bot in the first place. The three kinds of bots are-
These bots understand natural language and can handle customer questions easily by providing answers to generic FAQs and help businesses reduce contact center volume.
Personalized bots are integrated with a brand’s enterprise system and have access to specific customer data. These bots can interact and resolve queries precisely, resulting in enhanced First Contact Resolution (FCR).
Operational efficiency is critical for the growth of any company. Transactional bots pull data directly from back-end systems, and execute specific transactions on behalf of customers, like changing account plans or payment methods, enhancing the operational efficiency in the process.
Today, companies want to leverage AI-powered solutions and bots to change how work is done within their organization — by making operations efficient, enabling better decision-making, and freeing employees from repetitive tasks.
PureSoftware Hyperautomation CoE (Center of Excellence) has helped the world’s leading companies innovate their business models and automate internal functions leveraging artificial Intelligence and the power of machine learning to drive productivity and growth. Write to us at firstname.lastname@example.org to know more about our capabilities.