Many businesses are exploring and investing in AI solutions, because AI has the ability to automate tasks and processes and achieve cost efficiencies, productivity advantages, and product or service quality that would otherwise not be possible.
Artificial intelligence (AI) technology is making headlines all over the world, in particular the powerful chatbot, ChatGPT. The strategic importance of AI technology has been growing exponentially across industries and businesses and created numerous new opportunities.
In addition to enhancing decision-making, AI has also increased the efficiency of businesses.
Many businesses are exploring and investing in AI solutions, because AI has the ability to automate tasks and processes and achieve cost efficiencies, productivity advantages, and product or service quality that would otherwise not be possible.
Currently AI business tools are rolled out at a pace never experienced before.
Some of these can without doubt add value to a business.
Jasper the writing assistant
Writing is an important part of any business such as the writing of documents, blog posts, reports, social media captions, and marketing material, which can be at best a tedious process.
This is where AI writing tools such as Jasper (previously Jarvis) can come in very handy. AI writing tools have developed remarkably over the past few years and is not only capable of creating general texts, but also of adding a certain tone, style and creativity through the use of natural language processing (NLP).
Jasper is an incredible AI writing assistant with powerful features that helps the marketing team to render tailored results of a high quality.
Jasper allows business to reduce 80% of the time spent on a first draft and boasts a return on investment (ROI) of 400%.
The process entails that the “author” provides Jasper with seed words, which are then analysed before phrases, paragraphs or documents are created based on the particular subject matter and tone of voice.
Unlike a human being, it can create a 1 500 word article in less than 15 minutes.
Jasper can spark new ideas and is very valuable in social media marketing.
For instance, it can generate several clever Instagram captions.
It can also publish entertaining LinkedIn articles and write catchy video scripts to go viral on YouTube.
The Jasper platform has more than 50 AI templates for content generation such as blog posts, sales emails, high-converting marketing copies, Facebook ads, Search Engine Optimisation (SEO), web content, press releases, art and images.
It has 2 500 categories of writing styles, more than 11 000 free fonts, and supports more than 29 languages. Jasper has the ability to be trained in a specific style of writing to enable the consistent generation of content that is on-brand across a team.
Legal Robot
At some or other stage doing business involves legal contracts. The problem, however, often is that these legal contracts are complex and not so easy to understand.
Often, smaller companies without a legal department struggle with the understanding of lengthy contracts.
This is where Legal Robot, an ingenious AI business tool with machine learning can provide valuable legal support by interpreting complex legal contracts through automated analysis. Legal Robot relies on NLP to create legal models from a large database of contracts and legal scenarios.
Since in legal contracts every word carries meaning and is often placed very carefully, Legal Robot can also be used to improve the readability of contracts created by the company by finding problems with the legal style and definitions, and flagging risky language.
Fireflies the note taker
It often happens during physical and virtual meetings that nobody is available to take notes or keep the minutes. This is where Fireflies, an AI meeting assistant that uses NLP, can assist.
What makes it particularly useful is that it records and transcribes the video or audio conversation instantly.
The Fireflies Notetaker bot can be invited to a meeting or it can autojoin calls or meetings via the calendar.
Fireflies can record and transcribe meetings across any video-conferencing platform or dialler. It further allows team members to add comments, reactions, or mark specific parts of the meeting to enhance collaboration. It also makes the reviewing and analysis of calls and voice conversations easy and can provide a paraphrased meeting summary.
Probably the best part of Fireflies is the search functionality. This makes the reviewing of an hour long conversation in less than five minutes possible. It is even possible to search across action items, tasks, key metrics or important highlights.
The conversation can also be filtered for the key topics that were discussed in the meeting, as well as analysed using conversational intelligence to track speaker talk time, sentiment, monologues, and other key metrics.
Even objections, competitors and other customisable topic trackers can be identified.
Where necessary, the AI assistant can log notes, activities, and recordings under the appropriate contacts in the Customer Relationship Management (CRM) system.
It can also organise meeting recaps by department, team or project.
Rapid advancements in AI are making amazing tools available to people and business to enhance their efficiency and productivity. Many more will surely see the light in the years to come and businesses will find it increasingly difficult to be competitive without the assistance of AI.
Prof Louis C H Fourie is an Extraordinary Professor in Information Systems at the University of the Western Cape.
BUSINESS REPORT