The top business technology of 2023 is likely to be the continued use of artificial intelligence (AI) and robotic process automation. These technologies can help businesses streamline processes and reduce costs.
In addition, companies will be increasingly focused on developing sustainable technology and reusable/recyclable hardware. This will make a positive impact on the environment.
1. AI
AI is becoming increasingly useful for business applications, from automation to data mining. This technology has a wide range of uses and benefits for organizations, including process optimization, risk reduction, increased sales, and more.
But AI also raises concerns over its ability to achieve unethical or destructive goals. In 2023, companies, governments, and NGOs will begin to create a framework for governing AI in an ethical and responsible manner to mitigate potential harms.
2. Robotic Process Automation
RPA is a business process automation technology that uses software robots or bots to perform repetitive and time-consuming tasks. It automates office-type functions such as data processing, accounting, and human resources.
It can also free up employees’ time to perform more complex tasks and provide better customer service. Moreover, it can help businesses develop valuable insights about their customers and business processes.
3. Artificial Intelligence (AI) for Marketing
AI technology can help marketing teams improve their customer journeys. It can also help boost their return on investment (ROI).
One of the most popular trending use cases is leveraging AI to personalize a marketing campaign. This allows marketers to better understand their target audience and deliver more relevant content.
AI can also make dynamic pricing more effective by analyzing huge amounts of data to recommend optimal prices for products. This can give businesses a competitive edge and increase sales.
4. Artificial Intelligence (AI) for Sales
Artificial intelligence (AI) can help sales teams improve their productivity and efficiency. It also helps to automate processes that are tedious and can slow down the sales process.
AI can also provide information about a client’s buying history and preferences, which can be used to guide future interactions with them.
It can also help to analyze a sales rep’s performance and help them develop better strategies for cross-selling and up-selling products and services to existing customers. This will help them boost their win rates and increase the lifetime value of their clients.
5. Artificial Intelligence (AI) for Customer Service
In addition to enhancing customer service, AI can also automate tasks and reduce the burden on employee time. This allows support agents to avoid burnout and deliver a consistent level of service.
Artificial intelligence is a valuable tool for any customer service department, but it’s important to use it wisely and implement it only when necessary. For example, using AI to automatically prioritize cases and deliver proactive alerts will save your employees time.
6. Artificial Intelligence (AI) for Inventory Management
One of the most important areas in a business where AI can make a difference is inventory management. Businesses need to keep track of their inventory to ensure that it is at optimal levels and doesn’t have any shortages.
In addition to stocking up on products that are already in demand, businesses also need to consider whether they have enough supply for the upcoming season. AI can help businesses forecast this information better, enabling them to avoid stocking up on items that won’t be in demand soon.
7. Artificial Intelligence (AI) for Customer Relationship Management (CRM)
AI-powered customer relationship management (CRM) software is a powerful tool that can help businesses to manage large amounts of data efficiently. It also helps in automating routine-based tasks and improving productivity.
CRM tools collect customer data from multiple platforms and store it in a centralized database. Moreover, they can provide automated lead scoring solutions to determine sales readiness of leads and move them through the sales cycle.
AI-powered CRM tools can be used to segment customers based on demographics, purchasing behavior and other criteria. This can increase the number of qualified leads and improve revenue.
8. Artificial Intelligence (AI) for Human Resources
Using AI solutions in human resources is a great way to help businesses improve their employees’ work experiences and reduce the time they spend on manual tasks. These tools can also help HR departments to develop and recruit new talent in a more agile manner.
Among the most notable ways AI can help HR is by providing strong decision support. It can analyze the tone and mood of employee phone calls, for example, to recommend that they take a break from work or put in extra vacation days.
