How to use AI for business

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How to use AI for business success

As the AI revolution unfolds, the question is no longer whether to embrace artificial intelligence. It’s how to use AI to unlock the full potential of content within your business. That’s why enterprises today are focused on building a business AI strategy, finding practical use cases, and selecting the right tools.

Getting started with artificial intelligence for business

Alt text: Statistic about the use of AI for business

An IDC study reveals that 84% of organizations are already using or exploring AI. If you want to get started with AI for business or expand your use cases, follow these seven steps.

  1. Identify your business goals. Whether it’s improving customer service, enhancing decision-making processes, or automating routine tasks, having clear objectives will guide your AI implementation strategy.
  2. Ensure your organization has robust data lifecycle management Clean, relevant, well-organized data is the foundation for effective AI applications. In fact, a PwC survey found that 44% of organizations are planning to implement data modernization efforts in 2024 to take better advantage of generative AI.
  3. Establish guidelines for ethical AI use. Ensuring transparency, fairness, and accountability helps to build trust, promote inclusivity, and mitigate risks associated with AI technologies.
  4. Select AI tools that align with your business needs. You’ll find options ranging from AI and machine learning algorithms for predictive analytics to natural language processing for improved customer interactions, and more.
  5. Start with small, manageable projects to test the waters. Then gradually scale up as your team becomes familiar with the AI technology. AI implementation doesn’t have to be an all-or-nothing endeavor.
  6. Encourage a mindset shift toward AI-driven enterprise workflow automation and decision-making.Provide training to help your team better understand how to use AI for business effectively.
  7. Regularly assess the performance of your AI systems. Use the feedback and insights to refine and optimize your use of AI. The AI field is dynamic, so make sure to stay informed about constant advancements and trends.

Business AI: Top use cases

Let’s review what AI can do for business success.

1. Data analysis and insights

By leveraging enterprise AI to discover new patterns and correlations in data, you’ll gain access to insights that were previously inaccessible. You make the most of your unstructured data while optimizing decision-making.

AI can give you answers about documents and condense lengthy reports into concise and actionable summaries. In a case preparation scenario, for example, lawyers can use AI summarization to extract key arguments, relevant precedents, and crucial case details from extensive legal documents. This business AI use case not only expedites the review process but also enhances the comprehensibility of the information, enabling legal teams to make more informed decisions.

Another popular use case comes from manufacturing environments, where AI algorithms help to predict equipment maintenance needs, thereby reducing downtime and optimizing production schedules. Supply chain companies also leverage AI to forecast demand and manage inventory, ensuring efficient and cost-effective operations.

2. Customer support and engagement

Integrating AI-powered chatbots and natural language processing allows for seamless and personalized customer interactions. The results are improved overall customer engagement and satisfaction.

Let’s say you’re a retail company deploying an AI-driven chatbot on your website to assist customers in finding products, answer frequently asked questions, and even guide them through the purchase process. The chatbot can analyze customer preferences, purchase history, and browsing behavior to offer personalized recommendations. These chatbots would be available 24/7, ensuring that customers receive prompt assistance at any time.

3. Automation of repetitive tasks

Two thirds of respondents to a survey by UiPath say they do the same tasks over and over again, wasting an average of four and a half hours a week on routine tasks that could be automated. You’re able to streamline operations and boost efficiency by delegating routine tasks to AI. This way, you free up human resources for more strategic and value-added activities. Here’s what you can do:

  • Automate data entry tasks, reducing the need for manual input and minimizing errors in databases
  • Scan, process, and categorize invoices automatically, accelerating the accounts payable process
  • Analyze digital workflow patterns and automatically assign tasks to relevant individuals or teams based on trigger events, such as e-signature requests
  • Implement AI-driven email sorting and prioritization systems to streamline email workflows, ensuring that important communications are promptly addressed
  • Automate HR processes, such as resume screening, candidate matching, and onboarding tasks

4. Content generation

Using generative AI tools to brainstorm new ideas and write text requires less time and fewer resources than developing content from scratch, increasing productivity and scalability.

Let’s say you’re part of a marketing department. Instead of spending hours manually crafting content, you can input relevant information such as key product features, target audience demographics, and campaign goals into the AI system. The generative AI tool then synthesizes this data and produces highly customized and coherent content pieces, such as product descriptions, email newsletters, and even script ideas for enterprise videos.

Such is the popularity of generative AI in enterprises that Gartner predicts that, by 2025, 30% of outbound marketing messages from large companies will be synthetically generated, in comparison to less than 2% in 2022.

Use caseDescription
Data analysis and insightsLeverage AI algorithms to analyze data and retrieve key findings across multiple documents
Customer support and engagementImplement AI-powered chatbots to provide instant responses and personalized assistance to customers
Automation of repetitive tasksImprove operational efficiency by automating routine tasks, such as data entry, invoicing, and order processing
Content generationCreate AI-generated content, including product descriptions, email newsletters, and website copy

Unlock the power of AI tools for business

Box AI helps you use AI for business growth. With advanced AI models integrated into the Content Cloud, you unlock the full potential of your content, boost productivity and enhance decision-making. Our new suite of intelligent capabilities covers an array of use cases:

  • Asking questions about documents to uncover key insights  
  • Compiling meeting agendas and takeaways 
  • Summarizing reports in seconds
  • Translating content to any language
  • Personalizing onboarding materials 
  • Creating drafts of press releases, sales emails, job postings, and more 

Box leverages enterprise-grade security, compliance, and privacy to ensure your proprietary content stays safe. Learn more about our AI principles, or contact our team to get started with Box AI.

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While we maintain our steadfast commitment to offering products and services with best-in-class privacy, security, and compliance, the information provided in this blog post is not intended to constitute legal advice. We strongly encourage prospective and current customers to perform their own due diligence when assessing compliance with applicable laws.

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