There has been a lot of excitement, innovation, and maybe even uncertainty surrounding the growing role of artificial intelligence (AI) in companies. When it comes to digital transformation and your business, industry leaders agree that AI is a definite game-changer. But what exactly is AI and how can it be used in digital transformation?
Artificial intelligence is an umbrella term for a variety of technologies that utilize computer and mathematical algorithms to receive, interpret, and respond to information. No longer the theme of sci-fi movies or futuristic novels, computer scientists and engineers have studied and created artificial intelligence tools and products that are already embedded into our everyday lives.
Adding Bottomline Value and Efficiency with AI
Many of us encounter AI several times a day without even realizing it. Chatting with a virtual help desk at a favorite online retail store, browsing tailored TV show recommendations from a streaming service, or receiving protective fraud alert notifications from trusted banking institutions are all examples of common uses of artificial intelligence. These AI technologies have added exponential convenience, personalization, and security to our lives.
Recognizing the value of AI, industry-leading companies are applying artificial intelligence to mindfully enhance their digital transformation practices. Digital transformation involves the use of technology to optimize organizational processes, products, services, and consumer experiences.
Because AI technologies are designed to automate, self-learn, and improve, they can drastically improve the productivity and efficiency of any digital transformation strategy. Companies and government agencies that have already embraced AI technologies have seen millions of hours saved, customer offerings provided, and revenue grossed.
AI Functions for DIGITAL TRANSFORMATION
AI possibilities can improve data analytics, strengthen marketing approaches, elevate customer experiences, and tailor client interactions and support.
Data collection and analysis - Digital transformation is an ongoing and iterative process that involves continuous refinement and improvement. It’s important to have ample, reliable information to make data-informed decisions during this dynamic process. Using AI technology to support data collection and monitoring (i.e., measuring customer behaviors, interpreting survey responses, etc.) helps your company clearly understand when and how to adapt your marketing and business strategies.
Marketing and operational efficiency - When creating branding and marketing content, AI can be used to create new content, including text, images, audio, video, simulations, and more. Proper training on appropriate and ethical uses of AI in marketing can enhance and reduce the time and money needed for content creation. This saves resources and creates opportunities for innovation and collaboration across business professionals.
Consumer experience excellence - AI technologies can support many aspects of the customer journey. Voice recognition and search functions, security enhancement, customer support chats, and simplifying search or checkout processes are just a few of the extensive benefits artificial intelligence offers consumers.
Personalization of marketing approaches - Using advanced algorithms and software capabilities, AI technology can tailor marketing messages and brand offerings to suit the individual wants and needs of both returning and loyal customers. AI can try to anticipate or predict client preferences using data analytics and intelligent software design. Creating a more tailored, personalized experience helps consumers feel engaged, maintain brand relevance, and improve conversion rates.
Overall, including AI technologies in your business operations will accelerate and amplify your digital transformation outcomes.
Growing Rates of AI in Businesses
Today it is a question of when, not if, AI will be integral to digital transformation and successful companies. Though there may be great variation in how businesses may choose to use AI, there is no doubt that industry leaders will or have already embraced the AI movement. Experts are predicting a “significant uptick” in companies harnessing AI as a catalyst for transformative digitalization over the next 12 to 24 months.
Using artificial intelligence technologies will be necessary to keep pace with the always and rapidly evolving digital marketplace. Already, more than 80% of organizations have accelerated their digital transformation with AI since 2023.
The largest companies are leading this movement, leveraging huge investments in digital technologies, including generative AI. Based on initial performance outcomes, experts also predict that businesses with thorough and pervasive AI digital transformation plans will see greater revenues and ROIs than those who do not.
This is why AI is one of Engine Room’s top digital transformation trends to take seriously. Because generative AI represents such a clear opportunity for driving digital transformation, the time is now to embrace the new era of AI technology and make it work wonders for your business.
Partner With Engine Room
If you want your business to get ahead and stay competitive with the help of generative AI, Engine Room can help. We understand the potential for AI to enable digital transformation, providing value for your stakeholders and customers. We use the latest, industry-leading digital technologies and platforms to create, analyze, and realize a digital transformation plan uniquely suited to your company’s needs and goals. Our advanced knowledge and skills help to implement best practices that maximize your return on investment
To learn more about the value of AI for digital transformation and how Engine Room's expertise can support your business, download our complete guide today.
