Management practices have never been more influenced by technological advancement than they are today. The ever-evolving business landscape requires professionals to stay competitive to make effective management decisions. A Medium article reports that the 2023 Microsoft Work Trend Index showcases that 60% of people do not have the skills needed to complete their work and that 82% of the leaders mention that their employees need new skills to take advantage of emerging technologies.
An interesting fact in this report is how these figures do not apply to just technical roles but are also to people in leadership and management positions. It highlights how most business and operations roles now require managers to re-orient themselves with technology tools to thrive in a world dominated by AI. The Microsoft Work Trend Index made a significant note that ‘As AI reshapes work, human-AI collaboration will be the next transformation work pattern – and the ability to work iteratively with AI will be a key skill for every employee.’
One of the biggest transformative tools in AI recently has been Generative AI. A branch of AI that is influencing, innovating, and sparking new conversations for business operations. Impacting the workflows, increasing efficiency, and bringing new ways to maximize productivity.
AI Tools for Business Management and Operations
As businesses dive deeper into data-driven decision-making, here is how AI is helping management and business operations:
1. Content generation
A critical business operation in our digital-first world.
One of the most known use cases of Generative AI is how it helps to generate content in a matter of seconds. Heard of ChatGPT or Jasper? These are generative AI tools that help brands instantly generate copy for social media assets, reports, marketing collaterals, etc. However, they have only scratched the surface. There are powerful AI tools for manager to use for their go-to-market (GTM) content:
i. Copy.ai: The brand claims to be the first GTM AI platform that offers pre-built workflows and delivers instant value. The brand offers customized processes for business. For management and business operations, Copy.AI content is highly targeted and focused on Marketing and Sales. Businesses can explore the use cases in Marketing, for instance, to create content, generate demand, translate languages, and enrich systems. In sales, it offers an exploration of use cases like generating pipelines, working deals, powering operations, and enabling reps.
ii. Writesonic: This one is a generative AI platform for content creation, SEO, and AI chatbots. It offers services; AI content writer, SEO Checker, Chatsonic, Botsonic, etc. This platform is built into real-time web search, has an agent mode for in-depth research, and allows users to chat using their PDFs, documents, and images. It also repurposes audio files and summarizes web pages.
2. Communication
Internal communication to increase productivity and collaboration.
Rising remote work demands a more integrated management approach. Where communication plays a critical role for various team members across a country or globally. Many brands have come up with AI-based solutions and tools to assist brands in internal communication. A few of them are:
i. Zoom AI: Zoom’s smart AI allows brands to collaborate, communicate, and get work done efficiently. It aids teams in ideating and improving brainstorming, summarizes meeting and chat threads, and composes draft emails and chat messages. Get Zoom’s AI companion to help you prepare for a meeting with a meeting agenda, executive brief for projects, and more.
ii. Slackbot: A new AI supportive tool on Slack channel, that aims to offer quick information to the team members regarding projects and FAQs. It also automates routine tasks and facilitates easy collaboration on the channel. For instance, if a team member asks, ‘What is the Drive link to the ABC folder’? Slackbot will have an automated response with the drive link. Helping teams to stay connected with necessary information.
3. Data-driven decision making
Essential for product managers, business managers and senior leadership
Informed decision-making in management is about understanding data points and their relevance to the context. Data analytics helps managers make informed decisions and guides them to extract critical information from the data charts. Here are AI-based tools management employees must consider getting better at:
i. Tableau: This AI-based tool helps business managers and its user ‘see and understand data’. It offers fast visual analytics within a few minutes. Claiming it has faster solutions than other models. It has a smart dashboard with multiple views of data to get rich insights. It helps to share a live connection with your datasheet to get automatic updates. If you are looking to understand your data to turn it into actionable insights – this is the platform for you.
ii. IBM Watson Analytics: Another AI-based tool that leads in business planning solutions and in-depth analysis for quick data-driven decisions. This is business intelligence (BI) software. It helps brands to make confident data-driven decisions with real-time insights. It offers business analytics tools, forecasts, BI tools, etc. to drive profitable outcomes across key operations metrics.
4. Risk mitigation and management
A smart management leader has a sense of risk evaluation for running business operations and plans. In risk management, managers work to identify and evaluate risk to minimize the control of its impact in case of unfortunate events. Here are a few AI tools that the management teams often work with:
i. Darktrace: This is an active AI security platform. It mitigates a company’s cyber risk and shuts down any threats across any surface. Using the power of AI that adapts to a business need and helps brands secure their data across various touchpoints.
ii. Compliance AI: This AI tool leverages AI to help management professionals stay abreast of any latest changes in regulatory compliance. Keeping track of policies, procedures, and controls. Helping managers to track changes, react, and report promptly.
iii. IBM Watson’s supply chain insights: This leverages AI to help managers mitigate supply chain disruptions. Enabling smart alerts and insights, improving forecasting and predictive capabilities.
AI is a game-changing management assistant in our world. It also helps managers in product development, creative content generation, data synthesis, personalized recommendations, conversational AI for customer-facing chatbots, and more. Managers can work with various AI tools today to generate diverse ideas, address data security issues, automate customer support, forecast more accurately, and simulate various risk scenarios for business planning.
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