In general, there are 4 areas where AI had benefited industries and businesses. The statistics are confidential, so I just summarize the results of surveys conducted on nearly 1000 business organizations that have implemented AI. AI had benefited business organizations in four areas, i.e. in sales, operations, customer engagement and generating insights.
First, I will go with sales. Sales of new and old products and services have been increased by more than 10% in the majority of these organizations. Some of the efforts were focusing on AI-managed marketing platform, targeting and predicting high-value customers using AI classifications and analyze marketing campaign that worked and didn’t.
Second, the efficiency of operations in these organizations was increased. The improvement includes employee productivity, lower operational cost, lower false alarm and better compliance with the law or rules. These improvements were obtained due to an improved process, lowering error rates (caused by humans) and optimization of processes.
Third, the relations with customer were improved in most of the organizations where the number of leaving customers and complaints were reduced. Meanwhile, customer satisfaction has been reported as increasing after implementing AI. One of the methods used by these organizations is a virtual assistant for customer support.
Fourth, AI has generated new insights and information for most the organizations. The results of the new information were better analysis and decision making. AI was proven to help in management decision making. Meanwhile, the staff able to focus on other difficult tasks when AI had automated their regular tasks.
AI projects have been deployed at scale in various countries, led by India, Australia, and Italy. If an organization in Malaysia has the interest or intention to start AI based project, these steps that outlined by our consultant can be followed.
As a conclusion, AI had shown improvement in sales, operations, customer engagement and new insight in most of the organizations. Implementing AI in a data-centric organization would a good step towards better ROI in these areas.
Survey source: Capgemini