Have you ever spent a great deal of time searching for a product on Amazon, and later saw advertisements displaying details of the same product wherever you trawled through the Web? Through innovative algorithms, Google has been able to show relevant pop-up ads automatically. That is just one aspect of AI simplifying managerial tasks.
Artificial Intelligence (AI) is the simulation of human intelligence processes by machines, especially modern computer systems. It is present all around us – enabling our lives and making things easier.
Types of AI
AI is classified into Weak AI and Strong AI. Weak AI, also known as Narrow AI, is solely made to carry out particular tasks. On the other hand, Strong AI, also known as Artificial General Intelligence, is more advanced than Narrow AI. It has additional, generalized human cognitive abilities.
The Strong AI system provides a perfect solution without any human intervention. Take Siri software or Google Assistant, the virtual assistant that comes with all the Apple devices. It is typically a form of weak AI. Both these technologies are used to develop an efficient system that can progressively reduce the work stress of humans.
The key concept of AI is used widely in operational areas like management, software applications, and manufacturing units. AI can also play an assistive role in managerial tasks. And, significantly reduce the workload of managers through automatic emails, scheduling meetings, and much more.
Use of AI in Simplifying Managerial Tasks
Today billions of people use emails for both personal and professional purposes. In the case of digital marketing, email is the backbone. However, there was a time when managers receive thousands of emails every day but could reply to just a few. Time crunch.
But now, a plethora of email apps exist that can automate the process. An official app called Astro has helped active managers in many practical ways – snoozing messages, getting away from unwanted senders, setting a priority inbox for the VIP senders – and simplifying tasks for managers to work. And all this is because of AI.
With the help of AI, email marketing is more powerful than ever. It has progressively introduced several functional benefits to garner higher conversions, including personalization, automation, and qualitative data analysis. Some of the most successful email marketing campaigns are focused on creating emails that look like they were written personally by humans, and not machines.
AI technology undoubtedly helps analyze consumer behavior and diligently study their interests to generate data-driven insights. This analysis makes it possible to create emails customized for each of the manager’s customers.
The key to AI’s success in the workplace has been Natural Language processing; technology that allows the system to learn the local language and deliver meaningful messages.
Personalization and relevance are becoming increasingly crucial for email marketers. Hence, machine learning is playing an important role in the work environment through its application in segmentation, timing, and copywriting.
Scheduling and Managing Meetings
Imagine a workplace without a meeting? Meetings are synonymous with a managerial existence. And scheduling each one of them is a cumbersome task.
Technology-enabled meetings have been around for a while. Think conference calls and video conferencing.
Such AI-based software and many more have helped managers become more efficient in the workplace, specifically in the process of scheduling meetings between a group of people.
AI has also become an incredibly useful tool for recruiters and other teams. Indeed, some market researchers have predicted that several billion people will be using AI technology by the end of 2025 as a result of its multifunctional utility.
An inevitable component of meetings is their associated minutes. It is a record of the meeting itself. It is useful not only for the participants but also serves as a source of information for those unable to attend it.
But where previously recording the minutes of a meeting meant painstakingly jotting down notes with pen and paper, since the advent of AI, it means automating this process too. There are solutions in the marketplace that capture the essence of meetings with an automatic transcription. Additionally, they serve as a managerial dashboard with an elaborate listing of tasks assigned and their consequent tracking until completion.
Assisting In Project Management
Managing projects and delegating tasks among employees are a few examples of the numerous task that managers undertake. Without proper assistance, inefficiency in the workplace can make life harder and increase expenses.
AI in project management addresses this problem by reducing the overall cost of an idea. AI also helps in making the projects more strategic and meaningful as it improves the use of necessary data created by these processes.
It is recognized that managers spend almost 54% of their time on project management and administrative tasks. But with the help of AI, that time can be reduced by half, providing more time for the manager to spend on complex and more critical tasks.
Furthermore, with the advancement of AI, current projects with various requirements and problems are now becoming more feasible. Existing enterprises using AI for project management are enhancing the way they create, manage, and operate projects. This makes their projects more strategic. Gartner stated that by the year 2020, AI would have created at least 2.3 million new jobs!
AI is also gaining ground in the most mundane activities. Organizations have universally adopted a range of team communication and messaging tools to facilitate, coordinate and create centralized group communication.
Slack, already well integrated with popular management suites, Asana, and many other group communication platforms currently offer chatbots that can facilitate project communication tasks that previously required human oversight.
These AI chatbots can handle a variety of tasks, from scheduling meetings to sending activity reminders to team members.
Providing Relevant Insights
Every manager’s team spends countless hours gathering and validating internal and external data for accurate reporting. Instead of merely reporting about past performance, the team could dedicate this time in analyzing information and uncovering insights. Analysis and insights enhance decision making and allow the manager to offer predictive insights confidently.
It is challenging to gain stakeholders’ confidence without an objective or consistent view of performance across the business, especially a picture that includes insights based on all relevant internal and external data.
Specific tools such as Genpact’s Intelligent Reporting Assistant powered by Genpact Cora (an AI-based platform) use advanced digital technologies and analytics to gather and analyze structured and unstructured data from internal and external data sources.
They demonstrate how AI platforms can carry out their tasks in an objective manner.
How Is AI Helpful in Sales?
A sales representative’s power lies in the considerable amount of time spent in the department. With the help of AI, you can automate the tasks of a sales representative without physical presence at the workplace.
This is done through automated activity logging for high priority emails and the production of new contracts. Engaging thousands of prospective customers through personalized content is impossible without arming your marketing forces with AI.
Companies are making use of this AI technology in all ways possible to increase their business.
The area of sales and marketing is no stranger to the use of AI tools. More than half of the leading marketing companies are already using AI. The rest are planning to do so in the next few years.
There are several reasons AI plays a vital role in today’s sales and development, some of which include:
- AI tools used in these fields are based on longstanding marketing strategies and techniques, such as product recommendations and predictive lead scoring.
- Intelligent software can contact multiple numbers of leads at the same time, which is not possible with human representatives.
- AI allows for more customer-centric campaigns, which makes the customers feel valued because of highly personalized messages and targeted ads.
There are five specific areas where you can leverage AI algorithms to grow your business by helping the sales team-
Price optimization, Forecasting, Up-selling and cross-selling, Lead scoring and, Managing and Performance.
AI tools operated in these fields are based on longstanding marketing strategies and techniques, such as product recommendations and predictive lead scoring.
AI can also contact thousands of credible leads, maximizing a company’s revenue potential.
Use of AI In Marketing
AI Marketing represents a method that takes in the data of the customers and processes it to reach a result, otherwise known as machine learning.
This form of AI serves the customer by shortlisting relevant products based on the analysis of their search criteria and history. The search history of the customer is accessed, and the data is processed through machine learning algorithms. After that, the data is processed and clustered the way the customer likes. Amazon.
In a world where time is money, it is crucial to be efficient in all aspects of a company. However, to be efficient, you must first be organized. Thus, the ideal solution is a work environment that revolves around an AI platform, allowing you to remain businesslike.
While it may be equally efficient to work by hand with a small target market or in a small company. But as the number of customers and employees you are dealing with expands, it inevitably affects the quality of connection with your constituents as well as your organizational ability.
The ideal solution is to pass the workload to a platform that will carry out these actions for you, reducing the risk of becoming inefficient.