In recent years, artificial intelligence (AI) has migrated from academic labs to the business world with the promise of practical applications. AI initiatives have demonstrated a reliable payoff for many sectors, and continued growth is a sure bet. The “MIT Technology Review: Global AI Agenda” offers insights into where that growth will likely occur for North America based on a global survey of business executives.
Across multiple sectors, the value and practicality have been established for AI, streamlining operational processes and increasing productivity. By the end of 2019, more than 85% of North American survey respondents reported they had launched AI initiatives, with 61% reporting efficiency and cost reductions as the biggest gain.
Tucked within the survey’s data are signs AI initiatives are expanding to include use cases that likely will yield greater revenue growth. Customer service is the most frequently targeted business function in North American firms, with 55% ranking it as the top priority. Current trends in contact center technology support that statistic. The increased use of AI-powered bots and predictive routing improves key performance metrics—leading to significant cost savings.
With revenue growth potential in mind, it’s no surprise that sales and marketing…