The world of technology is advancing quickly. We are faced with the rise of artificial intelligence – now implemented into our daily lives. According to recent reports, the AI software market reached a global worth of $10.1 billion in 2018. Between 2018 and 2019, there was a 154% growth in the global AI market. By 2030, about 26.1% of China’s GDP will depend on artificial intelligence.
There are many benefits that AI brings to our daily lives. Even the average person can benefit. With a single voice command, you can launch Siri on your iPhone. This gives you a virtual assistant in your pocket. There are many other examples of artificial intelligence in our daily lives. For business owners, the benefits of AI may be even greater. We explore how bots can be used to help a business grow in the modern world.
The Role Of Bots In The Corporate World
About 37% of all organizations have already implemented some kind of AI in their business model. In the last four years, there has been a 270% increase in the use of AI in the corporate world. By the year 2021, it is expected that about 80% of new technological inventions will use some form of AI. About $35.8 billion were spent on AI systems in 2019.
These statistics show that artificial intelligence plays a key role in modern-day businesses. Some business owners are not sure exactly how AI can fit into their corporate model – and bots are the perfect entry point.
The use of bots is on the rise – primarily due to the automation that comes with using this type of AI innovation. There are many uses for bots in the business world – and a large number of reasons why you might want to consider implementing AI bots into your own business model.
IBM reports that the use of bots helps to provide a significant enhancement in the automation of certain business tasks. In turn, this helps to free up time from employees. Many employees find themselves occupied with repetitive tasks during the day. This leaves little room for some of the higher-value tasks that may need to be completed. By the end of the day, the employee has spent their time on repetitive tasks. The higher value tasks are needed for the business to grow.
Bots can be used to help automate the repetitive tasks that take up a significant amount of the employee’s time. This means the employee becomes free to do tasks that bots may not necessarily be able to perform. These tasks are generally more valuable to the business too.
The Benefits Of Using Bots For A Business
There are several benefits that come with the implementation of bots in your business model. Let’s take a look at a few of these benefits that you should expect:
- As mentioned, employees are not required to continue with repetitive tasks. These tasks are dealt with by the bot. The employee can then focus on more important assignments.
- Bots are able to process information at much faster speeds than employees. This means the time it takes to complete repetitive tasks is reduced significantly. More tasks can thus be performed on a daily basis.
- Bots are programmed to do a specific task exactly as the developer programs them. This means they will not make errors. With human employees, errors are relatively common. These errors can become costly mistakes. When switching to bots for repetitive tasks, the bot will not become tired, does not need to take a lunch break, and will do every task as it should – without the risk of errors.
- Bots are relatively cheap to implement, depending on the type of bot and the amount of programming needed. In the long-run, the use of bots can provide a more cost-effective solution for your business to perform certain operations.
- Bots can be programmed to work constantly. This means using a bot will not restrict the tasks performed to normal business hours. The bot can be programmed to run 24/7, which means it will always be performing tasks. This helps your business keep up in busy times and provide a more efficient way of ensuring all tasks are performed.
Uses For Bots In A Business Environment
You know that bots can be helpful for your business, but you may not be sure where exactly they can be used. The great thing is that the possibilities are truly endless when you choose to use bots for your business. The specific ways that a bot can help depending on the type of business you are running.
You should take a closer look at the internal operations of your business. Look at repetitive tasks that are taking up too much time from employees. These are generally the tasks that some bots can help with.
To help you understand what role a bot can play in your business, we will take a look at a few scenarios where a bot can be implemented.
- Your customer care department has to respond to emails from consumers. This can take up a lot of time. Many customers have similar requests. A bot can be used to filter through these emails and queries. The bot then determines what the question is about – and can send an email back to the customer without human interaction. Using a bot with implemented AI technology ensures the emails are customized – so the customer thinks a real agent contacted them. Questions that the bot is unable to process are then sent to a support agent.
- You have employees that need to constantly post updates on your social media channels. This helps your business remain active among its followers. Setting up a bot can help to automate these tasks. Employees can plan outpost types and set them up on the bot. The bot then automatically keeps the social profile active.
- Data entry can also be done with a bot. The employee needs to log in to one application, retrieve data, then copy it over to another application for processing. This may be required for thousands of entries. A bot can be programmed to do all of this with no errors and more efficiency.
Conclusion
Artificial intelligence has allowed developers to create bots that are able to automate several tasks that employees need to do. This helps to free up time from employees. In turn, employees can focus on more important tasks, ensuring the business is able to thrive in the modern-day. Bots are also able to reduce human errors and provide a faster processing speed than the average employee. There are several types of bots that can be used to automate business operations. We looked at how this may benefit your business in this post.
Author:
Kunal is the founder & lead imagination engineer of Vedametric Australia. Australia’s Leading Web Design & Development, Mobile App Development, UI/UX Design & Digital Marketing Company. We aspire to be innovative, sustaining and a performing brand with appreciable and consistent competence in web design and development, mobile app development, UI/UX design and digital marketing.
