AI has the power to transform your department, your business, and your industry. It's perhaps the most significant change agent right now and will surely disrupt your market. The challenge right now is finding the AI tools for your business. Understanding what's out there and which AI business tools can work for your needs.
In this blog, we look at where to begin to find AI solutions and offer a few interesting options that might be worth researching further. It's something that we know a bit about as not only do we track every technology vendor on the planet with our Viewpoint Analysis Technology List, but our AI Technology Matchmaker is focused on helping business leaders find and select AI technology.
What is AI software, and why should your business care?
AI software (artificial intelligence software) is generally enterprise technology software but with the latest advances in artificial intelligence built in. Looking across the enterprise software industry, almost every vendor of note has invested heavily in AI and has changed their branding and messaging to reflect this. However, there is also a range of new, start-up and scale-up vendors that have built AI tools for various business needs.
Why does this matter? Well, AI is having a real-world impact right now. Big organizations with well-known enterprise technology are betting heavily on AI to take them to the next level. Salesforce - perhaps the best-known SaaS vendor is going big with AI after the release of their Agentforce solution, but they are not alone.
From automating repetitive tasks to providing advanced insights through data analysis, AI tools are designed to enhance efficiency and decision-making. AI tools are accessible to businesses of all sizes, offering practical solutions to everyday challenges. Whether it’s automating customer support with AI chatbots or analyzing data to predict sales trends, these tools can free up time, reduce costs, and even uncover new opportunities for growth.
Can AI help my department?
The simple answer is yes, whatever department or industry you are in, AI can help. Indeed, perhaps it is more important to say that if you are not using AI or seriously considering your options, you are going to be falling behind your competitors and peers with each passing month and year.
There are so many great examples of AI in the business world today - and it is only just the start of this tremendous new technology wave. For example, HR teams are using AI agents to allow employees to ask questions and to speed up their onboarding. Retailers are having AI agents field incoming calls. Lawyers are using AI to quickly negotiate new contracts. The list goes on - almost every facet of the business can use AI to improve efficiency or drive improvements.
Why it is important to get started with AI
We are very early in the tech cycle and AI is going to be important to pretty much every business in every sector. Although there is no one-size-fits-all approach, and lots of the AI technology is still in its infancy, getting started is perhaps the most important thing any business can do right now.
If you can find suitable places to test and try the technology, it will only be positive for the future. Companies and leaders who shy away from AI will be behind the curve. They will have no real-world examples of where they tested AI and how that worked out. It will make it all the more difficult as the technology grows and becomes more pervasive.
Transforming key departments with AI
AI is beneficial for every major business department - from sales and marketing, to finance, and from operations to HR. The critical thing is to do the research, invite the vendors to talk to your team and see where you can really make the most of it. Here are some examples of how it can (and how it is) making a difference in the key departments today.
AI for Sales and Marketing
AI changes how businesses understand, target, and engage their customers. In marketing and sales, AI helps create hyper-personalized experiences by analyzing vast amounts of customer data, allowing businesses to predict customer behaviour, segment audiences, and craft messages that resonate with individuals.
Personalization at Scale: AI tools analyze customer behaviour and preferences to deliver personalized content and product recommendations. This level of customization leads to higher engagement and conversion rates.
Automation of Campaigns and Sales: AI enables the automation of marketing campaigns and sales processes, freeing up human teams for more strategic tasks. Predictive analytics help sales teams identify the best leads, prioritize efforts, and forecast sales with greater accuracy.
AI Chatbots: Chatbots powered by AI provide instant customer service, answer inquiries, and assist with sales, improving customer satisfaction while reducing the burden on human agents.
A good example of this is Dealstream.ai - a new tech company that is using AI to learn from the top sales performers and then replicate their success by guiding less capable team members to achieve improved results.
AI for Operations and Supply Chain
AI can help streamline business operations and enhance supply chain efficiency. It optimizes everything from production schedules to logistics, enabling businesses to operate more smoothly and respond faster to market demands.
Predictive Analytics: AI-driven predictive analytics allow companies to forecast demand with high precision, preventing overstocking or stockouts. This reduces waste and ensures that resources are used efficiently.
Supply Chain Optimization: AI tools optimize routing and logistics, leading to faster delivery times and lower transportation costs. In manufacturing, AI can be used to schedule production more effectively, minimizing downtime and maximizing output.
AI for Human Resources
Human Resources (HR) departments benefit from AI by automating time-consuming tasks, enhancing employee engagement, and improving talent management strategies.
AI for Recruitment: AI-driven tools help HR teams screen resumes, assess candidate qualifications, and even conduct initial interviews via chatbots.
Employee Engagement: AI systems can analyse employee feedback and performance data to provide insights into employee satisfaction and productivity. This helps HR teams take proactive measures to address concerns before they escalate.
Employee Experience and Onboarding - new innovative AI chatbot technology is able to answer employee questions extremely quickly and act as a co-pilot for onboarding.
Training and Development: AI-driven platforms offer personalized learning paths for employees, ensuring that each individual’s training is tailored to their needs and skills.
AI for Finance
Finance departments can use AI to improve accuracy in financial planning, reduce risk, and automate routine tasks, allowing teams to focus on strategic financial management.
Fraud Detection: AI systems monitor transactions in real-time, detecting patterns of fraudulent behavior that human analysts may miss.
Automated Financial Processes: AI automates routine financial tasks, such as invoicing, expense management, and reporting. This not only reduces human error but also frees up finance professionals to focus on more value-added activities.
AI for Customer Service
AI-powered customer service solutions are revolutionizing how businesses interact with their customers. Through chatbots, virtual assistants, and sentiment analysis, AI enhances the customer experience while reducing the need for human intervention. It is a part of a business that we all see the most as we are consumers interacting with AI in many scenarios each year.
AI Chatbots and Virtual Assistants: Available 24/7, AI chatbots handle routine customer inquiries, provide product information, and assist with troubleshooting. This ensures quicker response times and consistent service quality.
Sentiment Analysis: AI tools analyse customer feedback, reviews, and social media interactions to gauge customer sentiment.
Finding the right AI solution for your business
With almost every technology vendor talking about AI, and with so many new AI businesses bringing new solutions to market, finding the right provider is a very difficult task. When we roll in the confusion about where to use AI within the business - it just compounds the issue, and it can lead companies to simply push the issue back for another year.
The best way forward is to do what businesses have done for generations - start with some initial conversations. Our AI Innovation Series is a great starting place as it is about learning what AI is and listening to vendors before starting any specific AI projects. The AI Innovation Series approach is like much of what we do at Viewpoint Analysis - it sees us bring a host of tech vendors to present how they can help you, and to educate your team on the art of the possible when it comes to AI. It is designed to drive ideas - which can then become new projects - so ideal for the initial education phase.
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