How bots are changing the way we do business

AI is infiltrating its way into businesses at an increasing rate. And for the better, I might add.┬áThe use of bots has evolved past the point of mere customer service help, they are changing the way businesses operate. For starters, global funding for AI startups increased by approximately 60% between 2015 and 2016 alone. Many investors nowadays will no longer fund businesses that don’t have AI in any form in their business plans. However, this is only a small contributing factor to the huge spike in AI usage.

Chatbots are a prime example of how customer service can be efficient, consistent and effective. Although, the extent of how bots are being used goes much further.

Internal operations of bots

As mentioned before, chatbots are no longer only being used as customer care tools. AI has now become a way for businesses to streamline their internal operations. Companies are introducing bots into departments, such as human resource and finance departments.

Bots are capable of undertaking a large variety of tasks. From recruiting new team members, answering employee queries about payments, benefits and other internal programs, to scheduling time off and logging sick leave. Bots are increasingly leaving more space for team members to focus on tasks that add value.

How bots help employees health

Research and Markets released a report that predicts AI will create a $190 billion market by 2025, and as well as improving business efficiencies bots can be used as a tool to provide healthier and more productive workplaces.

High-stress work environments can take both physical and mental tolls on workers. Stress can hinder productivity and mental wellbeing. According to the American Institute of Stress, companies lose an estimated $300 billion annually from stress-related employee absences.

Although, with emerging AI technology there may be ways to improve this. Bots can use meditative services that can integrate into the workplace. These can help with employee workload management, offer support and improve communication. Mindbliss is a good example of an AI app that helps tend to anxiety and stress relief, sleep, confidence and purpose.

Workplace relationships

AI can be useful in creating smooth and innovative team dynamics for HR and employee relationships. For example, CEO’s are starting to use Etch, an AI led contact manager. Etch provides insights to identify progress, roles, and projects for each employee through a data-filtered system. CEO’s can then search and filter the database to track an individual’s contact details and complete work history as well as track any ongoing projects.

New and improved businesses

Future-focused companies are taking advantage of AI technology to improve both employee and customer experiences. It gives them an advantage over their competition who have yet to recruit some clever and helpful bots onto their teams. Business with bots never looked better!