In the workplace, business leaders are looking at how AI will be changing the future of their industry, and in what ways it can make a difference today. The adoption of AI-driven tools will force companies to reevaluate training, hiring and investment strategies. As a result, these tools have the potential to help businesses save money, save time, simplify tasks and deliver more personalized experiences for businesses and employees.
Here are three big ways that artificial intelligence-based tools can improve your business today:
Automation: One of the most common opportunities for artificial intelligence in the workplace is the automation of activities. Machine learning has made it possible for computers classify information and mine data for patterns, allowing tools to simplify tasks and keep employees productive. AI programs can automate the process of scheduling meetings and reminders, purchase office supplies, and even craft emails.
Concur has taken automation a step further, helping businesses seamlessly process receipts and create report entries – all without an employee entering a keystroke. Concur’s expense tool is also integrated into Microsoft Office365, and uses machine learning to create expense reports from an email or calendar invite.
Chatbots: Chatbots are a simple yet powerful way to integrate AI into your everyday business activities. Recent advancements in natural language processing have made it easier for software to respond and act upon conversational directions. This has enabled companies to integrate their own bot onto messaging platforms that allow consumers to directly engage with them by simply typing a command and receiving a response. If a customer wanted to order a pizza, they could message the pizzeria and pizza would be delivered to their door.
Chatbots have also opened up new opportunities for businesses to automate certain aspects of routine and account management, simplifying tasks and saving businesses money. We’ve found chatbots to be an effective tool for simplifying employee invoicing. We’ve developed a chatbot for Slack that allows users to automatically input their expense details by typing a message.
Big Data and Business Intelligence: Big data has been a buzzword in business and tech for a while now, but in the last few years the ways in which it’s been able to help businesses has really accelerated. While it was possible to gather vast amounts of company and business data, only recently has it been used to help AI applications learn, make smarter decisions, and provide more effective solutions.
To this end, Concur has been using data to enhance our Risk Messaging and Active Monitoring solutions. We leverage data from our 45 million users to analyze behaviors, pinpoint trends, and bolster solutions for our customers. Risk Messaging leverages Concur’s comprehensive travel and expense data set, giving travel managers unparalleled and immediate visibility into employees that may be at risk and empowering them to take action.
AI is quickly changing the way businesses function. It’s important to adapt your strategies in a way that not only will help your business function most efficiently, but also to maintain a competitive edge.
Kevin Craig is the Managing Director of Concur Canada.
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