AI Efficiency Is How To Make Money In This New Reality

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With the novel coronavirus upending how companies communicate with their clients and each other, artificial intelligence (AI) has become an even more critical asset for business communication. Organizations around the world striving to save money and boost efficiency are turning to AI, and as the world continues to adjust to its new realities, it’s reasonable to assume that many of the changes being made today will continue even after the pandemic no longer controls our lives. It is more important than ever for companies to seamlessly communicate with everyone in their network to remain profitable and competitive.

Before the pandemic, AI usage was already growing in all sectors of the economy as investors sought programs that could solve industry-wide problems. At one point, venture capital investment increased to almost $30 billion dollars in 2019. However, the costs of user adoption using great communication while only relying on traditional approaches can be staggering.

For example, when banks onboard new customers using slow, conventional communication models, costs were estimated to increase 15 percent a year. Some banks even lose up to 35% of customers due to poor onboarding. By automating processes using AI, banks not only bring them on in much less time, but they also provide new customers the support they need when they need it. This boosts user adoption while significantly reducing churn. Just as importantly, when tedious tasks are automated it frees up more time for managers to answer questions that machines cannot. AI can empower employees to focus on higher-level tasks and even gain a better understanding of their role within the company.

But for any company to realize the increased profits and efficiencies they are looking for, it takes more than finding the right AI; they also have to make sure they present their products and practices in a thoughtful way. One communication asset type that is effective, often surprisingly to non-marketers, are GIFs and cartoons. Simple illustrations and rapid animations give companies an opportunity to showcase their products in a fast and relatable way, with prospects and customers much more likely to retain the information.

When it comes to details you want people to read and remember, ensuring your presentation is clear and digestible can make all the difference. The average person takes about 90 seconds to judge a product. While most decision-making is based on the colors consumers see, many people already know that color and font are vital features when it comes to immediately capturing attention. However, that attention must be directed, and that’s where layout and design come in.

Decision making is also largely based on the information presented. For effective communications, even when using AI, a company must determine what information to present as bullet points, what to highlight in a call-out box, what should be bolded, and hundreds of other minute decisions. Though the details may sound simple, the combined effect of these decisions can make the difference between effectively communicating with new customers or not. Ultimately, the impacts of those designs must be considered when implementing an AI-based onboarding program. Successful customer adoption hinges on seamless experiences.

In addition to remote user adoption, AI can support employees as well. The prevalence of COVID-19 continues to force companies to work remotely, and as long as they save money not signing office leases, why wouldn’t they? After all, managers can use AI to make sure employees know how to do their jobs as long as they have the right communication design model.

Onboarding employees is similar to customer onboarding in terms of platforms and approaches. Of course you’ll want to include appropriate content for employee onboarding. For instance, onboarding assets can explain different roles within the company to help workers understand why they do, how they can accomplish their tasks, and how their role supports others. Pre-recorded video series are great tools to explain detailed employee responsibilities like how to use the available AI technology, specific reporting requirements, and other information that supports their day-to-day work.

Obtaining the right AI technology for your company is only the first step in creating the efficiencies CEOs need to make their companies profitable. For continued success in a post-COVID world, companies must use AI to implement and maintain strong onboarding processes for customers and employees.

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