What are some of the ways AI can benefit your business?

So with some of the current talent shortage is going on currently in the US the challenges for businesses to find employees or employees are going to be best for your organization. He got me thinking about what are ways in which I can ask AI Please make my job easier, right? What are some ways that I could make better decisions, whether it's finding the right employees, or whether it's building my business with the right business partners?

I stepped back and said, Wait a minute, what are the benefits of AI for business? There's many hype out there for sure. Let's look at a few of these. Alright, so one of these is around efficiency and productivity gains, for sure. Right. That's certainly where we're looking for the benefits of improved operational efficiencies for the organization. There's a case study that I saw, this was from [email protected], they were actually talking about, about an AI restaurant, excuse me about an AI driven restaurant.

And in this restaurant, they had experienced some slow service times in their drive thru. Also, when people came into the lobby service was slow, there's a high rate of employee turnover. There's all the human aspects of that, certainly in terms of being a great leader. But that aside, they looked at AI to see if they could identify some inefficient operational areas, what came out of it was, the AI helped them improve the speed of their service by 21%, during rush hours, right, that's, that's a really decent improvement. The other was, they improve the efficiency of their kitchen by 53% 53%. So the amount of time it took to actually get the order in, get get food, turn around, get things cleaned up, get food prep, that that sort of stuff.

And then of course, their sales, they said increased exponentially as well. Alright, so looking for opportunities to minimize your costs as well as to perform improvements in your operational efficiencies. That's certainly one of the areas for productivity gains. So that's benefit number one or a benefit, another benefit to consider, which is fairly similar to this, but it's all around improving the rate at which you do business, right, the speed of your business, perhaps one of the things that we found in this area is that it's key to focus your AI questioning on specific scenarios of your business. So the idea is rather than trying to, you know, eat the entire elephant, so to speak, metamorph metamorphic Lee is I don't, that's not even a word.

Anyway, rather than trying to eat the entire darn elephant, adjusting the AI models based on where you're focusing is critical. So create smaller AI models focused on a certain business scenario. Alright, number three, new capabilities and model expansion. And of course, you know, when you think about AI, sometimes, right? That's when we tend to think of other things like, oh, Elon Musk, or, you know, what they're doing with Tesla, or you know, the autonomous cars, all that sort of stuff. Certainly, there's those models out there, for sure, where new business models being created because of AI. But for for most of us, as we're getting started with AI, that's, that's kind of a step beyond where we typically see see organizations go for typically, you'll tend to start with an efficiency gain, you know, sales, improvement, gain some some things like that, then as you grow, then new opportunities for capabilities start to emerge.

Alright, here's another one. That's kind of interesting. It has to do with better customer service so AI can benefit in those areas as well. There's an example that I love on this one is we've all seen you've probably seen nor Domino's Pizza, they are monitoring so when you call and say, hey, I want a pizza. They've got some AI listening and they're trying to figure out hey, is that granted Oh, that's grant on the phone at that Larson home, well then order that guy some some sinister pics right or, or upscale, you know upsell him on that right? So there they eyes listening, it's determining who's on the phone, and then prompting their order takers to customize coupons based on who it is they're talking to. So, quote unquote, better customer service that might be one example. All right, here's another the another benefit is around monitoring of your business and how to improve that. Lots of times what we found in this area is, this requires the AI model to be running somewhere, there's kind of two approaches to think about AI models, there's, there's the approach that says, hey, just give me some of the insights of what you see looking backwards. And then there's also the aspect of using AI in the course of doing your work.

And this permits AI monitoring, right? So here's the idea, right? It's as perhaps, as you're going through a particular sale, while you're in the act of doing the sale, the AI model is running somewhere. And it's queried, right? It might be out on Amazon, or Google Cloud or Azure. In any event, it's running out there. And it's watching those business activities. And it's giving you some quote unquote, real time insights or feedback like, hey, the probabilities of this being a good client for you, has dropped dramatically, right? Or perhaps this is, probabilities are high for good one. Alright, so improved monitoring certainly is a key a key area, and it takes a little growth to get to that point, when you've actually got the AI models out there running, you don't have to wait for that to start getting the benefits. If you back up, you can start getting the analytics much sooner to put yourself in a position so you can turn on the monitoring. There's another one here another benefit tends to be around reducing errors that people make that you know, I guess what I'd say here is, this is a key reminder, I think that one of the benefits of AI really is I think we should view it as augmented intelligence, it's, it needs to be looked at as, as something that causes you to think or rethink what you might currently be doing. And sometimes the reduction in human error comes because the AI saw something that causes you to rethink your processes, and then you make changes. And sometimes many times those changes are beyond what the AI saw. But the AI SIRs or served in that scenario is a trigger or an instigator of the change.

So in that sense, it can help catch human error, but should always challenge it, right. And so we want the AI to inform us and say, Oh, here's things that our brain couldn't see. But sometimes, you know, doesn't mean the AI is always right. So we wanted to augment your intelligence for sure. Alright, here's the, the one that I sort of started with was around talent and Talent Management and, and, you know, using AI to gauge things like employee sentiment, although I worry about the whole big brother thing, right? Don't really want that. But to monitor the sentiment for sure. I'm not necessarily talking about employee productivity or things like that. Did they log on to their computer the right time? I'm not looking at that, but the way in which they interact or talk or think about things right, or, or to monitor evaluate the the nature of the behavior of your business partners, right? Do I have the right business ecosystem in place? And are these in fact going to be the right business partners for me using AI to augment my talent management, both internal as well as to those external organizations as well? So AI can be used to leverage those kinds of things as well. I've been interested to know what are the highest value areas for you, you can check out click at click AI or radio.com and subscribe and let me know what you think, everybody thanks again for joining and until next time, plan out your business AI benefits.

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