Keeping Pace With Tomorrow’s Technology

Businesses need to stay up-to-date with the latest trends and innovations to remain competitive. One area that's going through a dramatic transformation is business operations – in part because of how quickly automation and AI are evolving.??

To stay current in these changing times, and to give you the insight needed to make good business decisions, this month's newsletter is packed with key intelligent automation news, ideas, and industry highlights.?

In today's edition you’ll find:?

-????????? Staying up-to-date or getting left behind?

-????????? Intelligent Automation: The Future is Now?

-????????? Expert insight on all things HR AI?

The Importance of Staying Informed?

Staying on top of technology is critical if you want your business to remain competitive. However, AI appears to be changing rapidly –? so surface-level awareness won’t cut it if you want to make the most of it in your business.??

A mindset shift is perhaps the most important way to truly get up to speed. Sure, you can read great content ( like you’ll find in this newsletter!) but you'll also need experts to guide you.??

Your business isn’t like everyone else’s so you’ll first need to guide those experts on how it works. If you want to lead your market using tech, you need to start leading your business in a way that’s forward-thinking and open to change. There’s a great deal of competitive edge to be found in that approach.?

Intelligent Automation: The Future is Now? AI and automation are very much the Here and Now. This is not a futuristic concept out of reach for regular businesses. Certainly, ‘flashy’ tech grabs news headlines – like the recent announcement from Open AI: Sora, the text-to-video AI. But using AI in the real world can yield some core business benefits.?

Here are some quick notes from an automation implementation we were recently part of, to prove just how usable it can be in the real world.?

We worked with a customer service centre to cut manual work down and save money. Most CS (Customer Service) Agents perform tasks manually in support centres: transferring calls, checking files – basically, just processing data. It’s time-consuming and not very stimulating. We implemented a series of desktop automations which meant training time for new starters was massively reduced.? We even helped create a 70-second reduction in average call handling time. Just think about how that could help your business.?

Remember, staying up to date begins with being open to change and seeing how technology could help your business.??

Ready for some broader industry highlights??

Industry Highlights?

AI And Automation Can Be Big For The Economy? Economists at Goldman Sachs have predicted that 18% of work around the world could be automated – which could lead to a potential GDP increase of 7% globally. That automated work also doesn’t have to mean job losses, it can be used to empower workers, helping them to carry out higher-value tasks.?

AI's Explosive Growth? By 2025, it’s predicted that the global AI market could reach just shy of $200 billion, with a CAGR (Compound Annual Growth Rate) of over 35%. The market cap is a huge sum, but that level of growth goes to show just how important the technology is going to be globally. You don’t want to miss this train.?

AI Adoption Is Only Accelerating? According to an Adobe survey, 39% of large companies are now planning on investing in AI. But back in 2015 only 10% of organizations used or planned to implement AI shortly. By 2019, that had jumped to 37%. Where’s your business at with AI and automation adoption? Is it on your radar??

PAteam's Expert Insights On AI in HR?

AI isn’t limited to customer service. It can make significant contributions to global HR practices by streamlining processes, improving decision-making, and boosting overall efficiency. Here are just a couple of the ways we at @PAteamare already using AI in HR, and the areas where it can be applied to support HR on a global scale for enterprises.?

HR Analytics? AI integrated with our HRIS (Human Resources Information System) is already processing large amounts of HR data to identify trends and patterns that provide valuable insights for strategic decision-making. The AI we’ve implemented can analyze historical data to predict future hiring requirements, helping us proactively plan for recruitment, training, and development.?

AI-powered surveys can be implemented to collect feedback from employees about any part of the employee experience. These can then be analyzed using NLP (Natural Language Process) to see open-ended responses, extracting sentiment and identifying specific areas of concern or praise – at scale.?

Talent Acquisition? Currently, we use the LinkedIn Recruiter tool and our ATS (Applicant Tracking System) to analyze resumes and applications. We identify suitable candidates based on predefined criteria, saving time in the initial stages of recruitment – which traditionally has a high resource cost.?

But we can now use chatbots to help with talent acquisition, and it’s even possible to use AI-driven chatbots to engage with candidates, answer queries, and assist in the application process – giving candidates rapid feedback without the need for a dedicated human to handle queries. Beyond our internal hiring processes, we could also use AI to better understand regional talent markets, spotting salary trends and even predictions.?

Final Thoughts?

Our mission is to function as your go-to B2B partner in any AI and automation journey. We’re here to deliver up-to-date, usable information right to your inbox. This monthly newsletter is just one way that we’re spreading insight and expertise.??

Of course, if you want a more personal touch, you can always reach out to our team of AI experts – we’d love to hear from you. After all, as you’ve seen from this month’s roundup, staying in the know on technology is the best way to stay competitive in 2024 – and beyond.?

Stay Automated,?

Mike Nolet from PAteam?

Vice President of Sales & Marketing?