Is It Time for Full AI Integration in Your Growing Business?
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Timestamps
[04:15] How AI can create a frictionless experience in a service based business
[07:24] How AI can help analyse employees skills and weaknesses for peak performance
[22:27] Ways AI can help you build and grow my business
In the business world, one thing is crystal clear: customers want frictionless experiences.
If there's even a hint of unnecessary hassle, they're quick to seek smoother alternatives.
So, how can AI come to the rescue in service-based businesses to eliminate these friction points?
In episode 54 of the "Master Your Business" podcast, I had the privilege of hosting Daniel Hulme, who embarked on a journey into the transformative realm of AI in business operations.
Daniel Hulme is a British businessman, academic and commentator and is deeply engaged in Artificial Intelligence, practical technology, and ethical considerations. He wears multiple hats, serving as both the CEO and founder of Satalia, which saw an exciting transition when it became part of WPP plc in 2021.
Within the dynamic landscape of WPP plc, he takes on the role of Chief AI Officer. Beyond his professional journey, Hulme is also an angel investor, supporting emerging technology ventures. So you just know his advice is going to be solid.
With his insights, you will gain a fresh perspective on how AI can shape the future of work, enhance customer experiences, and drive organisational adaptability.
3 Tips on how AI can be harnessed to not just improve business efficiency but also create value in unexpected ways:
Tip 1: Recognising the Value of Friction
Contrary to the notion that all friction is bad, some forms of friction can actually be valuable. The Harvard Business Review's Pyramid of Customer Value highlights that customers value not only efficiency and speed but also elements like nostalgia, connection, learning, and self-actualisation. Businesses can leverage AI to differentiate between frustrating and value-added frictions, leading to more purposeful customer journeys.
Tip 2: Understanding Resources and Work Allocation
For service-based companies, understanding the resources at your disposal and the work that needs to be done is fundamental. Surprisingly, many organisations lack a clear view of their workforce's skills and resources and often have no insights into the tasks that require attention.
AI can step in to provide a comprehensive view of these parameters and optimise work allocation. This boosts utilisation, and employee well-being, enhances customer experiences, and reduces inefficiencies.
Tip 3: Embracing Adaptive Organisational Structures
The core idea behind an intelligent organisation is one that exhibits goal-directed adaptive behaviour. In a rapidly changing world, adaptability becomes crucial. Daniel emphasises the importance of building adaptive organisations capable of responding to evolving market dynamics. AI plays a pivotal role here by providing insights into feelings, emotions, and skills, leading to more informed decision-making.
Conclusion:
The intersection of AI and business is filled with opportunities to streamline operations, enhance customer experiences, and drive growth. AI isn't just about making things faster, better, and cheaper; it's about delivering richer experiences that resonate with customers on multiple levels.
By recognising the value of friction, understanding resources and work allocation, and embracing adaptability, businesses can harness the power of AI to not only thrive but also create a meaningful impact in their industries. It's time to look beyond the conventional and embark on a journey of transformation, where AI becomes a trusted ally in shaping the future of business.
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