How to Reap the Benefits of an AI Solution

Guest Post by Arian Nemati, Entrepreneur & Forbes Contributor (Business, Tech, Real Estate)

As technology advances, businesses are regularly re-evaluating their practices and dedicating resources and finances to find innovative ways to enhance the workplace, increase revenue and improve customer experiences. For many, investing in productivity tools is a necessity, but it can be perplexing when you’re unsure of your expected ROI. 

So, what about AI is worth investing in? AI has been on the rise and offers solutions for businesses across all industries. We’ve seen AI answer phone calls, drive cars, predict customer behavior, and even process documents. For companies dealing with high volumes of paperwork and tedious desk tasks, an AI solution could help tremendously. 

Consider what your return on investment would be if you spent your money on an intelligent document automation solution. If your company’s time is money, then it’s time to ask your team if AI would assist in accelerating workflow – and ask yourself, how can AI’s value live up to your expectations? 

AI investments can provide a variety of benefits, and every company should consider implementing AI tools to optimize business performance. If you equip yourself with the right AI tools, your company is set to scale up and deliver better ROI. 

Below are just a few ways AI can help: 

1. Save Time and Money

AI that automates low-value, repetitive, and manual tasks will reduce the time and cost needed to processsuch a heavy workload. When demand increases, businesses that put AI to the task get to sit back and relax as duties are completed with ease. 

2. Ensuring Accuracy and Reducing Error

AI reduces error and ensures accuracy for tasks that need it the most. With AI, you can avoid costly human error, reducing potential risks to your business and ensuring a job well done. Overall, it will enhance the consumer experience and can be utilized to perform more accurate analyses. Plus, if you are in a heavily regulated industry, automating document workflows can reduce the risk of being out of compliance.

3. Responds to the Needs of Business

Integrating AI into your company’s business processes allows you to react more quickly to the ebbs and flows of workload volume, avoiding a ramp-up in hiring or the disruption of workforce reductions. Subsequently, your employees are never overworked and your business is always timely thus increasing your business’ reputability.  

4. Increased Employee Productivity and Satisfaction 

Workflow automation empowers your employees with tools that increase productivity, and reduce frustration in a reliable, frictionless, and scalable way. Enabling employees to focus on less tedious, higher-value tasks leads to increased job satisfaction, and overall, better retention in the workplace.

Furthermore, when eliminating paper-intensive processes and making them faster, an employee’s valuable time can be spent elsewhere, increasing workplace efficiency. 

5. AI is a Team Player

AI doesn’t simply rely on formula-based methods to execute work–it imitates human behavior. Companies use AI to create a well-oiled machine, lowering the time needed for onboarding and training employees. AI works in conjunction with your team of experts, never missing a beat to give your company a competitive edge, and when circumstances such as the “Great Resignation” hit the job market, AI’s still there to get the job done.

Two-Step Method: Finding the Right AI Solution 

Step 1: Find a company with deep experience with your document types

In the past, if you’ve started down the path of introducing document automation, and have failed due to a lack of accuracy or inability to automate enough document types to make it worthwhile, perhaps it’s time to take another look. If you are looking for AI document automation tools to dependably help scale up your business workflows, be sure to look for companies with deep experience processing an extensive list of document types and data points relevant to your business to provide a deeper understanding of your documents, to shorten AI onboarding time and increase automation effectiveness out the gate, leading to better, faster ROI on your automation investments.

Step 2: Evaluate your KPIs

What are your milestones? If you’re looking to benefit from any or all of the reasons listed above, use a set of key performance indicators to determine your ROI. Once you establish a clear set of goals, you can determine how AI can help your business grow–whether it be in terms of profitability, productivity, efficiency, or accuracy. With the insights above, you can decide how AI can benefit your business with clarity and confidence.