Putting it simply, artificial intelligence is the ability of machines to learn and make choices according to gathered and analysed data. When used appropriately, AI makes a significant difference in the way you live your life. You likely engage with AI regularly without even realising it.

Many people still associate artificial intelligence with science fiction but the truth is that AI is becoming more commonplace in this digital world. Today, it’s a household term and even a household presence in the form of smart home devices e.g. Alexa or Siri.

What about artificial intelligence in business?

AI has a wide range of uses in business and most people interact with it in some form regularly. From routine to complicated tasks, artificial intelligence is already upending different business processes in various industries. As the technology becomes more widespread, it’s important to know how to use it.

When you think about AI being used in business, your mind likely goes straight to automation. Some applications of it involve automating work that was originally done by humans, but that only scratches the surface of what machine learning and AI is capable of.

Three main kinds of artificial intelligence

From here on, let’s look at the various ways AI is being employed. This way, you gain a better idea on how to use their machine cognitive abilities to achieve your corporate goals.

Automating business processes

As mentioned earlier, automation of physical and digital tasks is the most common purpose. Not only is it the easiest to implement but also the least expensive with high return on investment. Some of the tasks that it’s capable of handling include:

• transferring information from call centre and email systems into record systems
• accessing multiple systems for handling customer communications and updating records
• extracting data from different document types to reconcile errors within accounting books
• using natural language processing to process contracts and other legal documents

Gaining insight through data analysis

The second most common type of AI use is in detecting patterns in large volumes of data then deciphering their meanings. While analytics has been around for a while, cognitive insight differs since it’s more detailed and data-intensive. This machine-learning application is used for:

• analysing warranties to determine quality and safety problems in automobiles and other products
• detecting credit card and insurance frauds in real time
• personalising digital advertisements according to target audiences and customer preferences
• forecasting what a certain customer is likely to buy from an online store
• helping insurers in creating more precise actuarial modelling for prospective and existing clients

Engaging with employees and customers

The least common application for AI are projects for boosting engagement with customers and workers through machine learning and natural language processing. This may be because it’s less commonly known compared to other types of usage but it covers:

• aiding providers in making customised care plans that account the patient’s previous treatments and current health status
• increasing sales and customisation for recommending services and products with rich images and language
• answering employee questions about human resource policies, benefits, information technology support, and even hiring Filipino remote workers
• responding to a wide range of customer service issues from password requests to address updates to membership renewals using the client’s natural language

What about ChatGPT for your business?

This is an artificial intelligence chatbot developed by OpenAI and released in November 2022. It’s the perfect example of AI-based tools that are elevating the way the world does business. Generative visual and natural language processing software like this are progressing pretty fast.

ChatGPT is a newer version of the Generative Pre-training Transformer 3 or GPT3 language model that was made by the same company. This series of tools was developed to mimic human cognition and conversations when provided with input from a user.

Use chat-based AI in your organisation

It’s ability to formulate human-like text in a conversational form means it’s useful in various business applications. In light of this, you must think about how you’re company is currently operating and how you may integrate ChatGPT into your workflow to boost customer experience.

• Making drafts for marketing copy
• Automating portions of the sales funnel
• Crafting the process to hire a Filipino VA
• Translating text from English to another language
• Typing out code for websites and software
• Providing aftercare when someone buys products online
• Streamlining operations to improve efficiency
• Smoothing out the onboarding of new members
• Increasing the frequency of customer interactions
• Putting together data and research in one place
• Briefing your new hire virtual assistant in the Philippines
• Formulating new ideas based on existing information

What are other benefits of artificial intelligence?

As more and more organisations integrate AI technology into their operations, they’re beginning to enjoy the tangible benefits that come with it, including:

Greater speed of business

Through the use of artificial intelligence, product development cycles are shorter since it reduces the time from design to promotion. The shortened timeline means the return on investment on research and development arrives quicker.

Improved customer service

The goal of many marketers is too embody everything they know about their target audience. This covers their specific needs and the competition to present viable solutions at the right time. While it’s possible to hire a Filipino virtual assistant to do that, you may use AI too.

Lesser human errors

By adding AI technology to your processes, your team makes fewer errors and adheres to established standards better. When you wish to hire a VA in the Philippines, for instance, AI-based tools filter out resumes that don’t suit your requirements without you worrying about missing the fine print.

Higher productivity and efficiency

Machines are capable of handling tasks at a scale and pace that humans are unable to match. At the same time, by handling the routine tasks, human workers may focus on more profit-gaining tasks such as building relationships with leads or training the new hire remote staff in the Philippines.

More inspiration for expansion

As it gathers and analyses data related to your organisation, the machine also determines new opportunities worth pursuing. The ideas don’t have to be directly related to your current industry but may be something you might branch out into, like grocery stores going into logistics, for instance.

Better management and monitoring

With its greater capacity to handle huge amounts of information in real time, AI helps you improve your monitoring and management. It alerts you of problems, recommends solutions, and even initiates actions to resolve or prevent concerns. For example, it might schedule regular maintenance to reduce equipment issues.

Greater employee management

Artificial intelligence is highly useful in human resource as it saves you in hiring costs while streamlining your recruitment process. If you want to hire freelancer in the Philippines, for example, it will successfully identify and screen top talents within your provided dataset.

When to implement AI in business

Take note that ChatGPT in particular is relatively new so it’s not free from errors. There have even been instances when the tool has been tricked by being given problematic data and information. If you’re unwilling to risk its instability, work with us at Remote Workmate instead when hiring.

Whether you’re looking to hire a Filipino freelancer or full-time virtual assistant, we have an existing talent pool to speed up the recruitment process. We also source and screen additional candidates to ensure that you get the best Workmate for your specific needs.