How businesses can use AI to scale operations

The impact of artificial intelligence on Kiwi businesses is becoming increasingly evident. Oscar Collins explains how business owners are already using it to their advantage.

In New Zealand both small and large businesses throughout the country have started using AI to scale their operations and optimize everyday tasks.

Through the use of collaborative tools, recruitment solutions, CRM software and more, business owners are reaching their goals and expanding into international markets. Here’re some of the ways they are doing it.

1. Employee Monitoring Software

AI plays a critical role in monitoring employees, which is a more challenging task than ever now that remote work is a permanent fixture in the modern workplace. AI can help you supervise home-based workers from afar and help them succeed in their new environments.

Employee monitoring software (EMS) is the most influential AI technology for tracking remote workers. EMS is a centralised HR system that enables businesses to track key performance indicators such as screen time, activity levels and projects completed. It also tracks day-to-day interactions between co-workers or with customers online.

Some New Zealanders have voiced valid concerns about AI-based monitoring technology being an invasion of privacy. However, managers can alleviate these concerns by fostering trust and transparency with their employees before introducing a new EMS.

Startups and small businesses have a huge advantage over their larger competitors in this regard because it’s easier to connect with a small group of people than with a massive international workforce.

2. Online Collaboration Tools

One of the greatest challenges of scaling a growing business’s operations is streamlining employee teamwork. You must accrue more resources to help each department collaborate as your workforce grows. That’s where AI comes into play, starting with simple daily-use communication tools such as automated notetakers, spell-checkers and email generators.

AI also helps with asynchronous collaboration efforts. For example, AI productivity software solutions such as Google Duet AI and Microsoft 364 Co-Pilot provide a central location for storing and sharing essential documents. They can also analyse meeting notes, summarise project details and allow employees to optimise workflows for specific tasks.

Companywide AI technologies like these collaboration tools have received the best reception thus far. McKinsey reports that by 2030, at least 70% of companies will likely adopt at least one form of AI technology. Productivity software should be at the top of your list if you want to streamline employee communication as your business grows.

3. Recruiting and Hiring Solutions

AI can also help you add valuable new employees to the team. Almost every step in the onboarding process takes place in a virtual setting, so finding the best candidates can be challenging. AI-based recruitment platforms give you access to diverse talent pools and identify potential hires with an unbiased, analytical approach.

For starters, AI recruiting tools such as Fetcher, Manatal and TurboFinder can sort through job applications much faster than humans. They can immediately narrow the list to a handful of qualified candidates, allowing HR departments to do a complete analysis on a select few instead of dozens of people.

As a benign technology, AI also has no inherent biases around race, religion, nationality or identity. However, the creators can still programme AI to develop certain prejudices and undermine the hiring process. That’s why you must choose your recruiting tools carefully and only partner with developers with a reliable track record.

4. Self-Driving Vehicles

AI’s automation capabilities don’t just apply to online platforms. It can also help with real-world tasks, such as operating vehicles. New Zealand businesses like Ohmio use self-driving shuttles with various machine vision techniques. They still have humans behind the wheel for safety reasons, but AI does much of the driving.

Self-driving vehicles use efficient routing to avoid traffic congestion for each assignment, maximising safety and minimising fuel consumption. Businesses need this technology now more than ever due to the severe shortage of drivers worldwide. Although fully autonomous commercial vehicles are not available yet, the latest developments show a lot of promise.

5. Investment Platforms

Budgets are tight due to inflation, so you need to choose your investments wisely. AI-powered investment software can give you the insights to make those decisions and maximise your limited spending money. It tracks consumer behaviours, gives you a historical record of previous investment trends and even factors in your existing budget.

A New Zealand-based AI developer recently launched an investment platform called Gembot that does all these things. It’s essentially a financial adviser that helps people research, manage and trade their investments. You still have the final say, but these tools help you make the most informed decisions possible.

6. Customer Relationship Management Software

Small-business owners know that building a loyal customer base is one of the hardest challenges of growing a company. AI-based software simplifies this task through customer relationship management (CRM) software, which provides a singular platform to analyse customer interactions and understand their priorities.

CRM can automatically generate targeted recommendations and separate each customer into a precise target audience. It shows who reads your email newsletters, who visits your website, who makes online purchases and how long each interaction takes. These insights help identify your most valuable clients and ensure they stay happy.

Wielding Artificial Intelligence

Businesses that aren’t using artificial intelligence are missing out on amazing technology. Start wielding AI to your advantage by investing in these solutions.

Your company’s productivity, work culture, customer service, investment decisions and mundane day-to-day tasks all stand to benefit from AI’s assistance.

Oscar Collins is the editor-in-chief of Modded. He’s written for StartupNation, Contractor, Techaeris and a broad spectrum of other business and tech sites. Follow him on Twitter @TModded for frequent updates on his work.