The US business world has a productivity problem. The latest reports show that worker output has dipped to a degree that has rarely been observed in the 75 years since that stat has been tracked.
One of the key factors driving the decline in productivity is the lack of employee engagement. Studies show engagement has been dropping since 2021. As it drops, it takes motivation, focus, and initiative with it, resulting in a workforce that is not putting in the effort needed to reach production goals.
Organizations seeking to address productivity issues often turn to technology solutions that streamline operations and boost output. In today’s business world, that means embracing tools that are driven by artificial intelligence.
“Artificial intelligence will work 24 hours a day, 7 days a week without asking for a raise, asking for health insurance, asking for a vacation, or getting tired,” says Michael Gibbs, CEO of Go Cloud Careers. “For businesses looking to deal with productivity problems, as well as a host of other problems, AI changes everything.”
Gibbs has spent more than two decades helping businesses to boost productivity by leveraging technology solutions. In 2013, he founded Go Cloud Careers to provide training for cloud architects. The Go Cloud Careers Program prepares students for elite cloud computing careers by training them in key business skills as well as giving them a deep understanding of the ways in which cloud technology can improve business performance. More importantly, it empowers architects to differentiate themselves by providing training in executive skills, business acumen, leadership development, sales skills, and soft skills.
“Artificial intelligence can fill the gaps for businesses by doing the work that needs to be done both efficiently and effectively,” Gibbs states. “Not only can it step in and do what some employees are doing, but it can do it better, faster, and cheaper.”
Filling gaps in the workforce
As 2022 came to a close, US organizations were reporting more than 11 million positions that needed to be filled. By the end of June 2023, the number had decreased, but just slightly, leaving 9.6 million positions open.
Organizations looking for innovative ways to fill those positions may find that AI presents a viable option.
“In some cases, artificial intelligence can assist with workforce shortages by simply taking the place of the needed employee,” Gibbs explains. “Blogs can be written by AI-driven programs in seconds and fine-tuned by a managing editor in minutes. For a human writer, the task could take an hour or more and still require editing.”
Gibbs also says AI could fill gaps in tech space, where skilled developers are in high demand. “Finding software developers has always been a challenge, but artificial intelligence can code, doing in seconds a task that would take a human programmer a week or longer. When used to support tech workers, AI can allow one person to do the work that previously required ten people.”
In the healthcare sector, AI is being explored as a solution for the ongoing shortage of radiologists. While it remains unclear whether or not AI will replace radiologists completely, many see the value of enhancing the efficiency of radiologists by giving them AI-driven tools.
“Recent reports reveal that AI can help radiologists to detect cancer with a higher degree of accuracy,” Gibbs says. “Studies have shown that to be the case for detecting lung cancer and breast cancer, both issues that are more easily treatable when detected early.”
Enhancing customer service
Many consumers have already experienced some of the ways in which AI is being used to enhance customer service. AI-driven chatbots have become a staple of the e-commerce world, with 73 percent of businesses saying they are now using or plan to use them to provide instant messaging to their customers.
“By using AI-driven chatbots to handle common inquiries, organizations can dramatically increase the quality of their customer service,” Gibbs says. “Chatbots are available 24/7, can manage tasks like orders and returns, and can make personalized suggestions for shoppers. And once the technology is in place, chatbots work for free.”
Driving better decision making
The power that AI brings to data analysis promises to dramatically enhance decision-making capabilities for virtually every sector of the business world. It can automate the repetitive tasks often associated with data analysis, as well as rapidly detect complex patterns and relationships in data to provide valuable insights.
“Predicting customer purchasing patterns is one powerful example of ways in which AI can assist in decision making,” Gibbs explains. “By analyzing data on past purchasing trends and other relevant metrics, AI can allow a business to avoid unused inventory by producing the right amount of product to meet demand. That enhances efficiency, avoids spoilage, and keeps production costs to a minimum.”
Gibbs points out that there is virtually no limit to the size and scope of data sets that AI can effectively sift through.
“Airlines, for example, can use AI to look at factors related to fuel costs, such as markets, production, and regulation, to make price predictions,” Gibbs says. “This can allow them to lock in long-term fuel contracts at the best possible prices.”
Although it is still in its infancy, AI is already rewriting the rules of business. No longer is productivity tied to the number of employees a business has at its command or their level of engagement. By unleashing the power of AI across the spectrum of business processes, organizations can build an automated workforce that can do more with less.
