The Real World Use of AI in Business: What You Need to Know Today

Artificial Intelligence (AI) has evolved from a novelty to a necessity before our eyes.

What was once essential for the production of viral images or the prep of a silly essay has turned almost overnight into the basis of the modern business process, capable of transforming customer service, recruiting, engineering and decision making across industries.

Due to the speed at which AI has developed, keeping up with its latest developments can feel overwhelming. For many CEOs the question is not whether or when to invest in AI, but what to prioritize.

In this article, we will explore examples of how AI is being used in real-world applications to give leaders and entrepreneurs inspiration and a starting point for their integration. Let’s start by reviewing the main trends, then we’ll break down AI business use cases into key categories to inspire and help leaders think strategically about their next move powered by AI.

What CEOs are doing with AI in 2024

AI is quickly becoming a core part of business operations across industries as Goldman Sachs expects global investment in AI to reach $200 billion by 2025.

To date, machine learning and computer vision technologies have attracted the most investment in AI, with industries such as technology, telecommunications, automotive and financial services leading the adoption of AI.

According to McKinsey, CEOs have prioritized cloud and edge computing, connectivity and productivity AI so far, with major adoption spikes to be expected in categories such as industrial machine learning, cybersecurity and robotics.

Thanks to companies like OpenAI, Meta, Microsoft, Nvidia, and Salesforce investing billions in AI research and development, especially in generative AI, an increasing number of their customers are using AI managing repetitive tasks, allowing employees to focus on innovation and strategy. tasks in the rote and routine areas.

The Golden Age of AI Startups Has Arrived: Here’s Why You Should Pay Attention

The AI ​​boom is expanding beyond the established tech conglomerates, with small and medium-sized companies developing cutting-edge solutions and delivering groundbreaking examples of best practices. . From AI-powered devices that drive back-end operations to AI applications that redefine the customer experience, this wave of startups is advancing innovation at an unprecedented pace.

The most interesting thing about today’s AI startups is their capabilities.

While the tech giants provide basic models and infrastructure, these smaller companies focus on niche solutions that can be quickly integrated into existing systems, or replace legacy systems entirely at lower costs. low.

This means you don’t need a huge technology budget to benefit from AI—starting to make AI accessible and tailored to businesses of all sizes. Below, we’ll explore some of the most exciting and emerging AI technologies in all fields such as customer service, talent acquisition, and applied behavior, providing insight into applications. the best of AI for business.

Providing a World Class Customer Experience

AI is revolutionizing customer service, allowing businesses to provide more personalized and efficient support. Here are some of the key AI applications that can improve customer interactions and help deliver a world-class experience:

• Chatbots and virtual assistants: Chatbots have become an essential tool for customer service. These AI-powered systems can handle everything from simple inquiries to complex support cases. Platforms like Zendesk and Drift integrate AI bots that provide 24/7 support, allowing customers to get immediate answers without waiting for human agents.
• Individual engines: AI-powered personal apps can analyze customer behavior and preferences to provide personalized product recommendations and personalized experiences. Dynamic Yield, for example, helps companies like Sephora and Ikea improve customer experiences through personalization.
• AI-powered sales and marketing assistants: Solutions like those offered by Conversica enable customers to align with sales and marketing teams. These virtual assistants initiate conversations with leads, answer questions, and raise expectations voluntarily, freeing up employees to focus on higher-level tasks.
• Commentary: Sentiment analysis tools help businesses understand customer sentiment by analyzing social media comments, feedback and customer interactions. Sprinklr and Quid are examples of companies that provide AI-driven insights into customer sentiment to inform marketing strategies and improve customer service.
• Voice AI for call centers: AI-powered voice assistants and other CX applications dedicated to customer calls are improving traditional call centers by providing real-time text, sentiment analysis, lead analysis and more . Callminer and Observe.AI are examples of companies using voice intelligence to support customer service agents, providing insights that improve call quality and customer satisfaction.

Recruiting world-class talent

AI is being used on both sides of the hiring table, with recruiters automating core tasks, such as candidate sourcing and pre-screening, and analyzing large amounts of data to match the right talent with the right jobs . Some have even installed AI agents that can handle all conversations automatically.

• Automatic registration: Platforms like Braintrust AIR and TalentEDGE AI analyze candidate data, match it with job requirements, and even conduct pre-screening interviews, freeing up recruiters to focus on higher-level tasks, such as developing strategies to recruit and engage deeply with incoming talent.
• Global HR and on-boarding: Another HR niche where AI is growing rapidly is facilitating global recruitment by automating the onboarding process and ensuring compliance. For example, platforms like Borderless deploy AI to ensure compliance with laws and regulations when hiring and paying employees in more than 170 locations.

Empower your talent to work to the best of their abilities

Once on board, AI can be a game changer to empower employees to reach their full potential by improving workflow and eliminating unnecessary tasks.

• AI production tools and coding agents: The onslaught of AI agents and AI-driven endpoints may have started with software engineering, but it’s coming for every industry and job level out there. Solutions like Microsoft’s Copilot, OpenAI’s ChatGPT, and Google’s Gemini are just the tipping point, with smaller platforms like Devin, JACoB, and Builder.ai taking a more robust approach.
• Backend automation: AI tools such as Krista.AI and Platma drive backend automation by allowing organizations to streamline internal processes and workflows as well as providing no-code solutions to digitization.
• Creating ecosystems: AI is advancing faster than discrete solutions to build natural environments, where multiple AI agents collaborate to automate complex processes, improve performance, and drive intelligent decision-making at scale. . Platforms like Valory, Dystr, and Fetch.ai are leading this revolution by creating autonomous networks of AI agents that can work independently or collaboratively to accomplish specific tasks.