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The Impact of AI on the Modern Business World

The Impact of AI on the Modern Business World

Salesforce is one of the most recognized tech leaders in the world. The firm used technology to enhance the lives of people by improving the way businesses are conducted. Most notable, the tech giant utilizes Artificial Intelligence (AI) technology to make their brilliant business solutions happen.

But what is the true impact of AI technology on the modern, fast-paced business world we’re all moving in today? Salesforce’s Chief Scientist Richard Socher has some answers, which we’ll discuss further in this short article.

Accelerating Economic Growth

According to Mr. Socher, AI can help speed up 12 major countries’ economic growth. This doubled economic growth will be seen by 2035 and is brought about by AI creating more time for people through simplified business processes. The boost in economic growth claim has also been supported by research from top consulting firm Accenture.

Labor productivity has been shown to increase by up to 40%, thanks to the inclusion of AI-powered tools in computer business programs. Better productivity results in more transactions, more people reached by relevant businesses, and more profits for the entrepreneurs.

Improving Customer Experiences

Those chatbots used in most customer service chat services are actually powered by AI. More businesses are turning to these AI-driven chatbots to assist them in quickly addressing their customers’ most common concerns.

A survey conducted by Salesforce’s MuleSoft found out that almost 65% of global consumers are keen on using various messaging apps like Viber, Messenger, and iMessage. These means more messaging-initiated chatbot conversations for businesses that want to offer better customer experiences for their clientele.

From these automated chats, the exchange of information can easily transition to a human-based chat concern with the most pressing issues of the customers identified faster by the customer service representatives. This results in a better customer-business relationship strengthened by trust and nourished by constant communication from both sides.

In a Nutshell

Improved economic growth and better customer business journeys are just two of the many beneficial impacts of artificial intelligence on the modern business world. AI is a powerful tool which, when used properly, has great potential to change not just the business world, but the entire world as well, for the better.

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