Artificial intelligence (AI) is taking over the workforce. The technology uses data to analyze patterns of behavior that are encouraged, discouraged, and tolerated by people and systems over time to determine which are most favorable. By performing repetitive, mindless busywork, AI frees up time for employees to engage in higher-level tasks. Increasing efficiency and productivity encourages new jobs to be created that increase engagement and fulfill potential. Therefore, AI should be embraced as a positive transformation in the workplace.

Faster Recruitment and Training

AI makes recruitment and training faster. For instance, an applicant tracking system screens resumes to narrow the candidate pool. Also, chatbots conduct basic background checks to identify specific qualifications and determine which candidates get offered interviews. Further, AI helps employees gain opportunities to learn new skills that aid in career growth, providing the business with a competitive advantage.

More Effective Management of Company Culture

AI more effectively manages company culture. For instance, AI analyzes behavioral data from onboarding processes, performance management, business processes, leadership forums, discussion threads, exit interviews, and other HR sources to develop real-time behavior patterns and create an ongoing picture of culture incorporated in the workplace. Also, AI identifies systemic issues and their consequences to avoid current risks, and facilitate the development of a culture plan. Additionally, AI facilitates culture audits of systems and processes to ensure they align with what boards and regulators expect of an organization.

Shorter Sales Cycle

AI shortens the sales cycle. For instance, the screening process becomes more precise and positively impacts the customer experience, improving the conversion rate. Also, AI takes on time-consuming, but necessary, tasks to increase productivity. For example, by using information from public domain and prefilling underwriting questions needed for an insurance quote, AI improves the ease of conducting insurance business for both prospects and the company, by closing more deals in less time.

Enhanced Customer Experience

AI enhances the customer experience. For instance, chatbots can predict customer needs and give the information customers desire at any time, reducing the burden on human customer service reps. Also, increased response time allows for instant communication and faster decision making. With the necessary information, customers are more inclined to conduct business and become loyal followers. Additionally, AI analyzes what customers want over time to provide deeper personalization and higher-quality products and services.

Increased Focus on Big Picture

AI increases focus on the big picture. For instance, AI can take over tedious work such as programming, and free up time for more enjoyable work. Programmers can play with, train, monitor, and provide feedback on AI so that running modules becomes more streamlined.

Your Next Finance or Accounting Job in Chicago

Find your next finance or accounting job in Chicago through Casey Accounting and Finance Resources!

chicago-accounting-recruiter