How To Gain a Competitive Advantage With AI

Posted by i2x Team on Apr 19, 2018, 12:21:18 PM

competitiveadvantage1

(5 min read)

Have you ever thought about what AI can do for  you, as opposed to against you? The words ‘artificial intelligence’ tend to carry a sinister weight, however, here at i2x we know that there’s more to AI than meets the eye.

 

Will robots take my job?

It’s no secret that the conversation surrounding all things AI tends to err on the side of caution, even fear. Robots are often predicted to take our jobs and then the world. It’s a dystopian nightmare that is easily sold to the masses. So, should we panic? Not necessarily.

Time has proven technology to be a job creator, not destroyer. Historically, human innovation is the key to advancing as a species and AI is no different. Each technological revolution, although often viewed suspiciously at the time, has overwhelmingly been eventually positive. For example, the invention of the steam engine, although initially replacing human labor jobs with steam machines - created many new jobs. Business flourished as productivity and technology improved, drawing people to urban centers for work.

But, is AI the next technological revolution? A technological revolution has been described as something that increases the productivity and efficiency of work. So, if AI is the next technological revolution, then empowering humans to work smarter and alongside AI, will be key. Let’s take a look at how we can leverage this competitive advantage for our businesses and careers.

 

Smarter business

Businesses are now identifying how they can gain a competitive advantage from AI and cultivate this amazing set of technologies for incredible outcomes. Those that are ahead of the game know that smarter business is often AI-powered business.

Sales and marketing strategies are being elevated, tasks are being automated and new tools are being integrated to better execute company visions. Although initially, some projects struggled through the growing pains of AI integration, success factors made themselves clear over time. Now, brands are reaching crucial Key Performance Indicators (KPIs) and are using AI to align with their goals and drive Return On Investment (ROI).

This brave new world of intelligent analysis is already enabling companies to build more personalized experiences and drive efficiency into processes to save money and gain advantages over the competition. This is especially true for those who take advantage of AI sooner rather than later. We’ll take a close look at the prerequisites businesses need for successful AI projects in a future blog post, so keep an eye out for that. In the meantime, want in?


Here are three ways that your business can make the most of AI:

 

  • Familiarize yourself with AI - AI, in parallel to most other automation processes is best at automating repetitive tasks. Familiarize yourself with what AI can do for your business in particular and what areas could be made more streamlined thanks to it.
  • Rethink your business processes - Ask yourself where in your industry you could gain a competitive advantage by solving new problems or automating tasks. Illustrate these in business terms with measurable goals and then bring in an expert to show you the implementation ropes in terms of process.
  • Research AI companies - Take a look at the market and see who is already ahead of the game and investing in big data and automation. Have a closer look at their approach and their use case and reach out to them if that makes sense for your business. Most companies are happy to chat through problems and find solutions that fit. For example, if customers interact with your company on the phone a lot, you might have much to gain from our i2x smart communication trainer - which uses machine learning to optimize every call that your team makes.

 

 

Upskill yourself

It’s important to stay relevant in today’s ever-changing world of work. As smartphones get smarter and technology becomes more intuitive  - it’s easy to feel left behind.

But, it doesn’t have to be that way. For example, in an early report by Deloitte on the impact of automation and digital transformation, 80,000 lower skilled jobs were found to have been removed in the last 15 years in the UK. However, this impact created 3.5 million new highly skilled jobs for professionals. What does this mean? It means that digital disruption isn’t necessarily a bad thing. Even though machines are likely to take over manual processes, there will still be a need for creative, specialized and highly skilled professionals. A great way to become just that is by upskilling yourself.

Adding skills to your portfolio can be both a personal and professional boost. Massive Open Online Courses (MOOCs) such as Coursera, and training tools such as our very own i2x were designed to help people continuously learn on the job and become the best version of themselves. Curious?

Here are 3 ways you can upskill you and your career using AI tools such as ours:


  • Continuously learn -  in order be the AI savvy workforce that’s in demand, be open to learning. As the world of work changes, so should you. Find AI trainers to help you continuously learn. This might be an online app or plugin that integrates with your work and sharpens your edges. Tools like Grammarly and our very own i2x are great at giving you a competitive advantage at work, without distracting from your actual work.
  • Personalize your training  - so, you’ve found your tool? Great! To get the most out of it, don’t forget to personalize your training. Whether it be telling i2x what words you want to say more, or less of, or Grammarly why you usually write - the key is to personalize your training in some way.
  • Measure your success - track your training by keeping an eye on those in-app notifications that keep you in check. Your weekly and monthly progress reports are great for this - letting you conquer your learning curve and using technology to measure your success and constantly improve.

AI for good

So, it’s not all doom and gloom with our computer creations after all. Perhaps, by harnessing the power of computers and using it for good, we can use AI to remain relevant in the technology age of today.

Welcome to the future, it’s good.

 

 

 

Like what you read?

 GET A DEMO

Tags: AI, artificial intelligence, technology, machine learning, future, innovation, Berlin, Contest, Speech Analytics, ai customer service, voip call center, call center coaching, conversation analysis, ai sales, customer service automation, Call Center Analytics, Call Center metrics best practices