People and Tech: How Artificial Intelligence
Can Bridge the Gap
November 27, 2024 | Blog
In this digital time and age, Artificial Intelligence (AI) has become disruptive in business and tech. According to a Gartner survey, 79% of corporate strategists see the value of AI and analytics as critical to their success over the next two years.
The McKinsey and Company report showed that AI, especially GenerativeAI, is at the forefront of changing how business does their operations and ensuring efficiency in their overall work. “To grasp what lies ahead requires an understanding of the breakthroughs that have enabled the rise of generative AI, which were decades in the making,” McKinsey and Company said. “ChatGPT, GitHub Copilot, StableDiffusion, and other generative AI tools that have captured current public attention are the result of significant levels of investment in recent years that have helped advance machine learning and deep learning. This investment undergirds the AI applications embedded in many of the products and services we use every day.”
IT Group, Inc. (ITG), the leading IT Solution Partner, understands the importance of AI in technology and doing business and how AI can bridge the gap between tech and people. Today, we will give you the significant impact of AI on your business.
How Innovative AI for People and Tech
- AI Can Help Business
- AI Can Help People
- AI as Your Virtual Collaborator
- Let’s Venture AI Together
Artificial Intelligence Can Help Business
So, how does AI bridge the gap between people and tech in business? It’s divided into three simple things: operations, productivity, and cost. Let’s start with operations. Business operations are generally divided into business operations and customer service operations. AI comes in both ways. When we talk about business operations, AI can help to automate mundane tasks and integrate one operation into another. For example, the #1 Cloud ERP, Oracle NetSuite, ITG’s tech partner, invested in AI to empower their software services.
Also read: The Advantages of AI for Your Business
Oracle NetSuite is known to provide a 360-degree view of your business and, at the same time, helps your organization with its end-to-end business processes, from business operations to financial and accounting, such as invoices and tax compliance. Danielle Tarp, Oracle NetSuite Corporate Communications, welcomed generative AI to their suite offerings in their line-up, one of which is the NetSuite Text Enhancement. “New generative AI-powered capabilities help users across the organization leverage company-specific, relevant data to produce content that is contextual and personalized. Adding to the existing AI capabilities in NetSuite, NetSuite Text Enhance will help customers further increase productivity by streamlining processes and automating the generation of context-sensitive content across every area of the suite,” she said.
When it comes to customer experience, generative AI, in particular, builds a unique experience, especially in the B2C journey. “Generative AI has the potential to revolutionize the entire customer operations function, improving the customer experience and agent productivity through digital self-service and enhancing and augmenting agent skills. The technology has already gained traction in customer service because of its ability to automate interactions with customers using natural language,” McKinsey and Company said. “The Research found that at one company with 5,000 customer service agents, the application of generative AI increased issue resolution by 14 percent an hour and reduced the time spent handling an issue by 9 percent.8 It also reduced agent attrition and requests to speak to a manager by 25 percent.”
Artificial Intelligence Can Help People
AI is built to think and mimic like humans. With that said, AI’s purpose is to elevate human experiences and processes, removing redundant tasks and making the business workflow more efficient and effective. “Crucially, productivity and quality of service improved most among less-experienced agents, while the AI assistant did not increase—and sometimes decreased—the productivity and quality metrics of more highly skilled agents. This is because AI assistance helped less-experienced agents communicate using techniques similar to those of their higher-skilled counterparts,” McKinsey and Company.
Regarding creative processes, AI can help employees generate ideas and prompt new strategies, from marketing to branding awareness.“Generative AI could significantly reduce the time required for ideation and content drafting, saving valuable time and effort. It can also facilitate consistency across different pieces of content, ensuring a uniform brand voice, writing style, and format. Team members can collaborate via generative AI, which can integrate their ideas into a single cohesive piece,” they said. “This would allow teams to significantly enhance personalization of marketing messages aimed at different customer segments,
geographies, and demographics. Generative AI’s ability to produce content with varying specifications could
increase customer value, attraction, conversion, and retention over a lifetime and at a scale beyond what is currently possible through traditional techniques.”
Also read: Are You AI Ready with Your Cloud ERP?
Some of the other features of AI can help with the creative side of the business, such as enhanced use of data, SEO optimization, product discovery, search personalization, increased probability of sale, and improved lead development, to name a few. “Our analysis of the potential use of generative AI in marketing doesn’t account for knock-on effects beyond the direct impacts on productivity. Generative AI–enabled synthesis could provide higher-quality data insights, leading to new ideas for marketing campaigns and
better-targeted customer segments. Marketing functions could shift resources to producing higher-quality content for owned channels, potentially reducing spending on external channels and agencies,” they said.
Artificial Intelligence as Your Virtual Collaborator
Moreover, the McKinsey and Company report also stated that across 63 use cases they analyzed for the study, generative AI has the potential to generate “$2.6 trillion to $4.4 trillion” in value across industries. Its impact varies depending on how prepared organizations are to incorporate AI into their processes. “In other cases, generative AI can drive value by working in partnership with workers, augmenting their work in ways that accelerate their productivity. Its ability to rapidly digest mountains of data and draw conclusions from it enables the technology to offer insights and options that can dramatically enhance knowledge work. This can significantly speed up the process of developing a product and allow employees to devote more time to higher-impact tasks,” they said.
Let’s Venture AI Together
For over 21 years of expertise, ITG has been your leading technology partner for system-wide innovative solutions to accelerate your business plans and goals, delivering seamless integrations and processes, from Business Management Solutions, IT Management, Integration & Automation, and Enterprise Data Management to IT Infrastructure. We help clients across the region experience digital transformation in their business, co-creating and co-owning solutions tailored to their business needs.
Also read: Data and Information, How to Secure Them?
“The era of generative AI is just beginning. Excitement over this technology is palpable, and early pilots are compelling. But a full realization of the technology’s benefits will take time, and leaders in business and society still have considerable challenges to address. These include managing the risks inherent in generative AI, determining what new skills and capabilities the workforce will need, and rethinking core business processes such as retraining and developing new skills,” McKinsey and Company added.
With the power of AI and ITG, you can make your business AI-ready and bridge the gap between people and tech. Your business is one step closer to achieving maximum efficiency from beginning to end. Learn more about how we can help you today.
Venturing Ahead Towards ASEAN Footprint
Venturing Ahead Towards ASEAN Footprint IT Group Inc. (ITG) has recently moved to its new office ...
Indonesian FinTech Startup fuels their Digital Transformation with ITG and Oracle NetSuite
Indonesian FinTech Startup fuels their Digital Transformation with ITG and Oracle NetSuite Bitcoin ...
People and Tech: How Artificial Intelligence Can Bridge the Gap
People and Tech: How Artificial IntelligenceCan Bridge the Gap November 27, 2024 | Blog In this ...