July 17, 2024 - Discovering strategies and innovations to gain a competitive edge has become essential in today’s market. Observing the shift from traditional business methods to the digital era, artificial intelligence (AI) has played a pivotal role in recent years. AI solutions offer a substantial advantage by unifying and integrating data while enhancing visibility and customer satisfaction. By automating operations and minimizing errors, AI reduces human tasks and supports results-oriented decision making.

Learning from companies that create value with AI

AI has evolved significantly since John McCarthy introduced the term at the Dartmouth conference in 1956. Since then, numerous innovations have emerged, from machine learning and neural networks to generative AI. Today, we are witnessing a platform shift, transforming how we live and work. The challenge and opportunity for leaders lies in laying the groundwork now to enable their organizations to harness AI's value in the future.

Microsoft’s AI Strategy Roadmap highlights the emerging best practices the company has identified for creating sustainable value with AI. It provides actionable insights to help organizations focus on the steps most likely to drive results. This research seeks to answer several key questions, such as:

• What are the characteristics of organizations that successfully scale AI value?
• What should leaders consider from technology, business, and organizational perspectives to achieve their goals?
• What is the roadmap to success with AI? (Or are there several routes an organization can take?)
• What is the top priority of most AI initiatives, and how does this priority evolve as organizations realize value?
• What is the most predictive factor for success with AI?

How companies are changing the game with transformative AI solutions

Companies are increasingly leveraging AI solutions to gain a competitive edge worldwide. Organizations of all sizes are embracing AI tools to transform their operations and driving success across the globe in the following ways:

1. Putting people first

   According to Microsoft’s 2024 Work Trend Index Annual Report, AI helps people be more creative and productive while simultaneously assisting employees to focus on the most critical work for their roles. While those who are familiar with AI but do not use it very often are less likely to admit to the benefits of AI, power users and explorers reported AI helps with things like making overwhelming workloads more manageable and improving work/life balance.

2. Boosting workforce productivity

   AI productivity apps and tools, such as Microsoft 365 Copilot, enhance workplace efficiency by streamlining and automating routine tasks, like summarizing documents, kickstarting presentations, and quickly managing emails. These AI tools also help reduce human error, enabling employees to focus on more creative and strategic work.

3. Personalizing recommendations and customer interactions

   AI personalization uses algorithms to customize a user’s experience based on their unique preferences, behavior, and history. By employing predictive analysis and machine learning, AI personalization identifies customer data trends to deliver customized recommendations, content, and prices. This approach allows businesses to create a more relevant and engaging experience for their audience, leading to increased satisfaction and loyalty.
   
   Organizations must gather data from sources like web analytics, social media engagements, purchase histories, and customer feedback, to attain effective AI personalization. This information can then be analyzed to uncover pertinent patterns and insights, to tailor the customer experience.

4. Focusing on user experiences

   Microsoft is leveraging AI to enhance user experiences by incorporating various AI-driven features. These include personal assistants like Microsoft 365 Copilot. These features bridge the gap between customer expectations and business goals through efficient collaboration and interaction, ensuring user satisfaction.
   
   Combining a chatbot with human support gives customers a results-driven service, allowing them to choose their preferred communication channel based on urgency. This 24/7 availability offers fast, convenient assistance without the need for costly calls or waiting in lengthy queues. Customers can easily pause and resume conversations without losing progress. Chatbots assist customers, handling basic and technical queries around the clock, making it easier to address urgent issues or provide feedback outside of regular working hours before involving a human representative.

How Citrin Cooperman can transform your business with AI

Embracing cutting-edge AI technology can revolutionize your operations, driving efficiency and innovation throughout your organization. Integrating these solutions allows you to streamline processes, enhance decision-making, and stay ahead of the competition.

Ready to transform your business with AI? Citrin Cooperman’s Digital Services Practice will ensure your business is ready to capitalize on the benefits of AI. Contact us today to discover how we can help your company be among the first to leverage AI in your field.