How can your organization gain a competitive edge by leveraging today’s state-of-the-art artificial intelligence technologies AI? What specialist applications of advanced AI hold the most promise for your unique business processes and operations to unlock hidden value? While automation tools deliver crucial benefits, the next level up is generative AI services, which top companies are considering.
This article explores seven key benefits of leveraging specialized generative AI tools for your business.
Enhanced Security with Secure Access
One of the primary concerns with introducing any new technology is ensuring it is used safely and that sensitive data remains protected. Generative AI services address this challenge through secure authentication and access controls. Many providers offer multi-factor authentication, single sign-on integration, IP whitelisting, and detailed user permission settings.
This makes sensitive instruments and data accessible only to authorized individuals, eliminating unauthorized access. It, therefore, allows for transparency of the audit logs, indicating who accessed what information and when. Confidence is instilled in a business where proprietary knowledge and customers are private.
Improved Efficiency in Knowledge Management
Making institutional knowledge easy to find is at the heart of how generative AI enables companies to capture what has been learned from prior experience and apply it in the future. Language model-based knowledge management platforms are great for structuring vast amounts of unstructured data in documents, emails, and previous work products.
Advanced search and filtering can be highly efficient in presenting information to help complete a job or answer a question. For example, suppose an HR representative was to answer a question regarding FMLA eligibility. In that case, they might use AI assistants to find relevant policies for employees, state-related regulations, and past similar issues. This replaces time-consuming manual research.
Cost and Time Savings with Private LLM for Legal Work
The legal field has much to gain from specialized generative AI applications. Document drafting, research, and due diligence require extensive time expenditures that drive up costs for clients. However, a private large language model configured for the legal domain can automate many routine yet time-intensive tasks.
Another emerging domain where automation is coming to the fore is contract drafting, where clauses are constantly reused with slight changes based on specific deal points. Generative AI, in this respect, will be trained over thousands of past contracts to understand standard patterns and structures. It goes through an iterative process with a user through a customized drafting interface to generate initial versions based on the parameters set, quickly done for review
Enhanced Communication with Multimodal Connect
Text, images, audio, and video are core modes of communication people use daily, both personally and professionally. However, synthesizing information across multiple mediums can only be challenging with the right tools. Generative AI services enable truly multimodal communication through applications like Multimodal Connect.
This innovative tool analyzes, links, and translates between different types of media in real-time. For example, during a sales meeting, participants could take photos of whiteboard diagrams, quickly convert them to structured data, and have an AI assistant populate a presentation with the parsed concepts and relationships.
Increased Sales with Personalized Product Recommendations
Leveraging customer purchase histories, behavioral data, and product attribute information, generative AI can provide highly personalized recommendations that consistently outperform traditional recommendations based on aggregate user preferences.
A generative AI sales advisor understands the context of each unique customer to suggest additional products they are most likely to need or want. This level of individualization has been shown to dramatically increase upsell and cross-sell conversion rates compared to generic recommendations.
Optimized Sales Processes with a Smart Sales Advisor
Like customers, each sales representative and opportunity have unique properties requiring nuanced handling. However, with traditional sales processes, it takes time to maintain customized strategies and messages at scale across a large sales team and recurring opportunities over time.
Here, a Smart Sales Advisor powered by AI can optimize processes through adaptive sales guidance. Thus, leveraging data on past deal insights, common objection responses, and success factors for different personality styles or industrial sectors, the tool advises reps on the optimal path for each situation.
Enhanced Customer Service with Enterprise Chatbot
Given the high volume of repetitive inquiries, customer service is ripe for generative AI applications. An AI-powered enterprise chatbot can be programmed to handle common questions and tasks through natural language conversations, freeing up live agents to focus on more complex issues.
For example, an airline chatbot may confirm reservations and itinerary details and provide flight status updates automatically 24/7.
Feedback from pilot users is then incorporated to continually improve the bot’s conversational abilities, expanding the scope of autonomous service. The AI refines its responses with each interaction by learning appropriate grammar, spellings, nicknames, and slang terms for various demographics.
Final Thoughts
Generative AI delivers substantial value across all business functions. What to get started with, and which services do you prioritize? While the potential impact seems vast, taking the first step is hard. You can start small by piloting one or two high-impact tools, such as an AI assistant for knowledge access.AI is shaping the future – gain a competitive edge now by leveraging it strategically for your unique needs. Focus first on tangible impacts, then allow generative AI to enhance operations continually.
