Repetitive work is dead. Long live human intelligence.

AI: the drivetrain powering your company's operating system.

Sep 04, 2023

Hi Friends! 👋

Imagine this: a world where AI isn't here to steal our jobs but to give us a helping hand, supercharging our work and boosting our creativity. Yeah, you heard it right – AI is here to help humans work smarter, not harder. Welcome to the AI revolution, where change isn't scary; it's the fuel for building kick-ass products and delivering top-notch services.

In this essay, we're diving deep into the crazy cool ways AI is changing the game in every nook and cranny of business. We're talking HR, legal stuff, finance, marketing – you name it. AI is like the ultimate partner in crime for professionals.

So, grab your virtual cup of coffee because we're about to take a ride on how AI is turning our daily grind into a turbocharged, well-oiled machine.

Buckle up, 'cause here we go! 🚀

Imagine it's 2033, and AI has replaced humans in companies, right? Nah, that's not the whole story. Our take? AI takes over the boring bits so we can focus on the good stuff faster and better than ever.

You can't miss the impact AI has had on organizations. Big tech is diving headfirst into AI, not just for customer-centric stuff but it’s quickly also becoming the secret sauce behind the scenes.

Think about it – every corner of a company, from HR and finance to IT and marketing, is getting a makeover thanks to AI. The game plan? Boost productivity, kick repetitive work to the curb, and maintain quality like a boss.

So, let's dive into this world of AI awesomeness, where humans and machines team up to rock the business landscape.

Ready? Let's roll! 🤖🔥

Allowing Human Resources to be human-first

AI enables organizations to streamline their operations, make data-driven decisions, and, in the process allow human resources teams to spend time on more human tasks, such as ensuring employee well-being and fostering a positive work environment. By automating repetitive tasks and lowering operational burden, AI enables HR teams to focus on keeping employees engaged and helping them thrive in an organization.

Talent acquisition

AI algorithms can scan through resumes, analyze keywords, and identify relevant skills, experience, and qualifications, speeding up the initial screening process. AI-powered tools can also search various platforms, databases, and social media to identify potential candidates based on specific criteria, saving recruiters countless hours.

Big tech is already ahead in the game: Gartner’s Hype Cycle for Human Capital Management 2022 research note found that ‘AI drives automation of the recruitment process and provides decision-making support to TA professionals, hiring managers and candidates, during talent sourcing, screening, marketing, interview scheduling and onboarding.’ InstaHyre - used by Amazon, PayPal, Google, and Uber - is an AI-based hiring platform that uses AI to screen and match candidates to the right companies.

Employee engagement and performance

AI can analyze employees' learning patterns, preferences, and performance data to deliver personalized training and development programs. iMocha, a skill assessment solution API platform, offers upskilling solutions to companies on a large scale, which helps in cases where fresh talent cannot be found in the labor market. The AI-driven company, for instance, helped two Fortune 500 companies upskill over 30,000 employees when it was time to hop on the 5G train!

Feedback and coaching

AI-powered chatbots can provide real-time feedback to employees, assisting them in improving their performance. Imagine having a coach that works with you to improve your performance! Your performance review says you tend to struggle with meeting deadlines. Now, a chatbot can customize its approach to use a wealth of knowledge to cater to your unique needs to help you manage time and meet deadlines.

Workforce analytics

AI can analyze large volumes of employee data to identify patterns, trends, and insights related to productivity, management strategies, and employee engagement. By analyzing this data, large organizations are beginning to make data-driven decisions to optimize their workforce, improve productivity, and enhance overall performance. Microsoft uses AI-powered tools like MyAnalytics and Workplace Analytics to help employees understand their work habits, collaborate effectively, and manage their time and tasks more efficiently. Salesforce’s Einstein helps teams boost sales productivity by prioritizing leads, automating data entry, and providing personalized insights to drive better outcomes. IBM’s Watson Workforce Insights uses data analytics to identify workforce patterns, predict attrition risks, and optimize employee engagement and productivity.

Automated scheduling

AI-powered scheduling tools can automate the process of creating and managing employee schedules, taking into account factors such as availability, skills, workload, and employee preferences. This not only saves time and effort for managers but also ensures fair and efficient scheduling practices.

Enabling quick turnaround for legal teams, with improved accuracy

AI shoulders the monotony of legal work to allow sharp legal minds to focus on analysis, strategy, negotiation, and decision-making. With its ability to analyze vast amounts of legal data quickly and accurately, AI allows legal teams to have turnarounds in record time with higher accuracy.

Research & Due Diligence

AI automates the previously time-consuming task of poring through large volumes of data to generate relevant information. It does this so well that generating the right insights takes only a few seconds! For instance, IBM and Microsoft employ IBM Watson and Microsoft Azure, to analyze vast amounts of legal data and speed up the process of legal research. AI's ability to sift through documents, extract key information, and identify patterns significantly enhances the efficiency and accuracy of legal research. With more research, and more accurate research at our fingertips, legal discourse is likely going to change forever.

Contract analysis

AI should be used where there isn’t any room for human error. Enter, contract analysis. AI-powered contract analysis tools can quickly review and extract terms, conditions, clauses, and obligations from contracts, not only saving time and effort for legal teams, but also reducing the risk of human error. Kira Systems and Seal Software (acquired by DocuSign) are some solutions that offer AI-driven contract analysis solutions that are widely used by law firms and legal departments today.

Contract management

AI-powered tools can store and organize contracts in a centralized database, making searching, retrieving, and tracking contract information easy. AI can also assist in contract creation by generating standard clauses and templates based on predefined rules and criteria. This saves time and reduces the risk of errors and inconsistencies in contract management. With AI, legal teams can efficiently manage contracts, monitor critical dates and milestones, and ensure compliance with contractual obligations.

Creating a win-win scenario for financial service providers and their clients

AI is making finance more accessible while also making it more accurate and secure at the same time.

Personalised financial services to cater to unique risk appetites and investor profiles

One of the biggest advantages of AI is its ability to achieve hyper-personalisation at scale. AI can analyze individual risk appetites and investor profiles to provide personalized financial services, allowing financial institutions to offer tailored investment strategies and recommendations to their clients. By leveraging AI algorithms, companies can also automate the process of assessing creditworthiness and determining loan eligibility, making it easier and more efficient for individuals and businesses to access financial services.

What does this mean for a user? More access, better services. What does this mean for business? Scalability while maintaining quality. AI creates win-win scenarios for service-first businesses and their clients.

Fraud detection and prevention

AI-powered systems can analyze large volumes of financial data in real-time to detect and prevent fraudulent activities. These systems can identify suspicious transactions, patterns, and anomalies that may indicate fraudulent behavior. By leveraging AI's ability to analyze vast amounts of data and identify complex patterns, financial institutions can enhance their fraud detection capabilities and minimize financial losses.

Risk management

Real-time data analysis by AI is revolutionizing risk management. Risk assessment and mitigation, when automated, help improve decision-making while minimizing losses. AI can analyze market trends, economic indicators, and other relevant data to provide insights and predictions on market conditions and potential risks. This allows risk managers to mitigate risks and adjust strategies accordingly proactively.

Customer service and chatbots

Chatbots are transforming customer service across sectors, but especially in finance. When dealing with people’s money, round-the-clock availability can be the deciding factor between a customer choosing your business and not someone else’s. Chatbots provide instant responses to customer queries, improving response times and overall customer satisfaction. They can handle routine inquiries, provide account information, and assist with basic financial transactions.

Investment management

AI-powered investment management platforms use algorithms and machine learning to analyze market trends, historical data, and investor preferences to generate personalized investment recommendations. By automating the investment management process, AI enables individuals and financial institutions to make data-driven investment decisions and optimize portfolio performance. AI can also monitor market conditions in real time and automatically adjust investment strategies to minimize risks and maximize returns. With AI in investment management, investors can benefit from improved accuracy, efficiency, and access to a broader range of investment opportunities.

Betterment and Wealthfront are new-age fin-techs that leverage AI algorithms to provide automated investment advice based on individual risk tolerance, goals, and financial situations. Mastercard utilizes AI-powered systems to detect and prevent fraudulent transactions by analyzing patterns, anomalies, and historical data. ZestFinance employs AI models to evaluate creditworthiness by analyzing non-traditional data points, helping lenders make more accurate decisions.

AI for better IT practices

AI in IT services is changing how companies manage their technology infrastructure and operations.

Self-service and self-help via virtual agents: AI-driven virtual agents can enhance the employee experience by providing quick and accurate solutions to common IT issues.
IT support augmentation via intelligent automation and predictive intelligence: AI is now used to automate repetitive and low-complexity tasks, freeing IT support agents to focus on higher-value tasks. Predictive intelligence helps agents work more efficiently by providing insights and suggestions for issue resolution.
Greater insight into services and operations performance and improvement needs: AI can analyze large datasets to identify patterns and trends, helping IT teams detect anomalies, prevent issues, and improve overall operations performance. This can lead to proactive problem-solving and better decision-making.

Microsoft, Google, IBM, Amazon, and Salesforce use AI-led IT operations in their respective cloud platforms: Azure, Cloud Platform, Watson, AWS, and Einstein.

Developing human-centric products by leveraging AI

AI is revolutionising product development by enhancing efficiency, accelerating innovation, and improving customer experiences. Here are some ways AI is transforming this field:

Ideation & Research

Data analysis & correlations - AI can analyze vast amounts of data and identify correlations that humans may not be able to identify on their own. This can help in product development's ideation and research phase by providing insights and trends that can inform decision-making and guide the development process.

Market analysis & customer insights - AI can also analyze market data and customer behavior to provide valuable insights and trends. This can help companies understand customer needs and preferences, identify market gaps, and develop products that align with market demands.

Predictive modeling & forecasting - AI can use predictive modeling and forecasting techniques to anticipate market trends and customer behavior. This can help companies make informed decisions about product development, pricing strategies, and market positioning.

Design & prototyping

AI can assist in product development's design and prototyping phase by generating automated design alternatives, performing virtual simulations, and creating realistic prototypes. AI algorithms can analyze design preferences and customer feedback to optimize product design and improve user experiences. This can result in faster and more efficient design iterations, reducing time-to-market and enhancing product quality.

Personalization & customization

AI can enable personalized and customized product experiences by analyzing customer data, preferences, and behavior. This can help companies tailor their products to individual customer needs, delivering personalized recommendations, customizations, and experiences. AI-powered recommendation engines can analyze customer data and historical preferences for accurate product suggestions. This enhances customer satisfaction and loyalty, increasing the likelihood of repeat purchases and positive word-of-mouth.

Prototyping and design optimization

AI in Design

As we established earlier, AI can make the irreplaceable faster. Think of a designer spending hours on a client brief, perfecting it, and generating an inimitable output. Now, what if that design were to be personalized for every viewer and have a slightly different variation for each viewer? Well, that’s a feat AI has achieved in design.

Dynamic Personalization: AI can personalize content recommendations dynamically based on various factors, such as time of day, liked posts, user behavior, trending events, and more. This level of personalization can enhance user experiences.
AI can automate repetitive design tasks, such as resizing images or generating templates, saving designers time and effort.
Generating Design Suggestions: AI can analyze user preferences and trends to create design suggestions and recommendations, helping designers develop new ideas and inspirations.
Variations: Once AI recognizes a pattern, it can generate multiple variations instantly. Coca-Cola used AI to create personalized labels for their bottles. By leveraging AI algorithms, Coca-Cola has generated millions of unique names and phrases, allowing customers to find their customized bottles with their names on them. The popular potato chip brand Lay's employed AI to create various flavor combinations. By analyzing customer preferences and using machine learning algorithms, Lay's was able to come up with unique flavor combinations and limited edition packages tailored to specific regions or events. The iconic cookie brand Oreo utilized AI to generate countless new cookie designs. By employing AI algorithms, Oreo was able to develop a wide range of unique cookie designs, incorporating different patterns, shapes, and colors. This allowed Oreo to constantly innovate and offer new and exciting products to its customers.

AI in Marketing

Marketers will benefit from letting AI take over the monotonous tasks that were built for technology to solve.

Social Listening - With so many people actively sharing their thoughts and experiences on social media, it can be overwhelming for marketers to sift through all the information manually. AI algorithms can quickly and accurately analyze this data, helping marketers identify customer conversation patterns, sentiments, and trends. This enables marketers to gain valuable insights into customer preferences, opinions, and needs, allowing them to tailor their marketing strategies and campaigns accordingly.
Audience analysis (segmentation, personalization) - AI can analyze audience data to segment and personalize marketing strategies. By analyzing demographic data, purchasing behavior, online interactions, and other variables, AI can help marketers understand their target audience better. This enables them to create personalized marketing messages, offers, and experiences that resonate with specific customer segments. AI algorithms can also continuously analyze customer data to identify changes in preferences and behaviors, allowing marketers to adapt their strategies in real time.
Predictive Analytics - AI can use predictive analytics to forecast customer
behavior and market trends. AI algorithms can identify patterns and predict future outcomes by analyzing historical data. This helps marketers make informed decisions about pricing strategies, product launches, and promotional campaigns. Predictive analytics can also help marketers identify potential churners or high-value customers, allowing them to take proactive measures to retain or engage these customers.
Global, regional customization - The applications of scalable personalized content are endless. Marketers can now not only target the audience with custom designs, but they can also use AI to create customized regional messaging across geographies. Imagine an ad being executed for hundreds of small towns across India with customized designs, messaging, and languages to cater to each audience - all at the same time!

While AI does this, marketers can redirect their focus on tasks that humans will continue to win at data interpretation, pattern recognition, connecting the dots, and creativity. We are building tools that will help marketers discover, engage and connect with ideal customers all in one place. Discovery starts with your bio. Head to our free bio generator that will elevate your profile!

AI in Sales

Sales has always been a human-first part of the business. More human than human resources itself. How can artificial intelligence aid Sales without altering the human fabric of its being?

By complementing the human aspects rather than replacing them.

Generative AI can help alleviate the increase in administrative tasks that salespeople often face over time. It can assist in writing emails, responding to proposal requests, organizing notes, and updating CRM data.
AI-powered systems can provide salespeople with personalized content and product offers and further improve recommendations by considering nuanced language and customer sentiment, leading to better customer interactions.
Generative AI can enhance reporting systems by providing insights and diagnostics to sales managers. It can aid in sales planning tasks, strategy formulation, and allocation of resources.

Conclusion

As we wrap up our journey through the AI-driven transformation of businesses, one thing is crystal clear: the rise of artificial intelligence isn't a threat, but is in fact an opportunity. It's an opportunity for us to shed the weight of repetitive tasks, unleash our creativity, and focus on what truly matters – building exceptional products and delivering outstanding service.

In conclusion, the AI revolution is all about:

Boosting productivity, not replacing jobs - think about the parts of your job you’re worried AI will replace. Now, think again. Can AI instead supercharge them and in fact help you perform better?
Ironically, enabling human-centric business practices instead of making business feel bot-like.
Personalizing services at scale without compromising on quality, an in fact improving accuracy instead.
Redefining creativity and innovation.
Leading us into a smarter, more efficient future.

We’re bullish on AI for its ability to enhance business growth, and supercharge every aspect of how we approach creativity, productivity, and innovation. Let us know in the comments below!