How Purposeful AI Use is Building Better Businesses

Businesses distracted by wild headlines about the amazing breakthroughs to come in artificial intelligence may be at risk of missing out on huge benefits already available.

New research from Harvard Business Review suggests the hype around emerging tools such as ChatGPT could see business leaders lose sight of the gains available today from existing AI and automation technologies. The key is to be purposeful with AI deployments and to embrace the positive impacts on offer right now.

Recent SAP Concur research found three-quarters of executives believe the increased use of AI and machine learning can drive greater efficiency and productivity. The promise of such technology is that it frees up staff from repetitive manual tasks, enabling them to spend more time on purposeful and value-added pursuits. These include activities that drive strategic growth, but also in areas such as environmental, social, and governance (ESG) priorities.

How to move forward with AI

How, then, do business leaders move forward with AI and automation?

The idea may be daunting, but their competitors will certainly be looking at their options. A survey conducted by Forbes shows that 56 percent of businesses are already using AI to improve customer service. Other common use cases include production process improvements, process automation and cyber security.

One mistake some organisations make is to lean too heavily on the IT department. “There was a time when IT would make every technology decision, but with AI and automation, the adoption process needs to be much more collaborative,” argues Lebel.

Don’t be afraid to be curious

While it’s important not to be blown off course by hype over emerging technologies, new advances should not be ignored either.

A recent survey from the consultant found that 65 percent of business leaders expect generative AI to have a significant impact on their organisation over the next three to five years – but half believe trust in their businesses could be harmed. Businesses need to proceed with caution, embracing the possibilities of this emerging technology while putting guard-rails in place. 

Read more about the topic in our Robot Revolution ebook or Artificial Intelligence - Real Solutions for Business whitepaper