Adroit Market Research - Industry Insights

It is imperative to understand that augmented intelligence is different from artificial intelligence and operates in a totally different manner. Augmented intelligence, present in a machine software or robot system, can be defined as something that improves the existing skills of humans. But, the fear that in future augmented intelligence might entirely replace human work cannot be shrugged away. As per research more than 70% of people fear this. This fear is also pushing companies across the globe to make sensible use of this technology and increase their business efficacy. This white paper talks about how augmented intelligence can smartly improve sales and reap benefits for all.

It is imperative to understand that augmented intelligence is different from artificial intelligence and operates in a totally different manner. Augmented intelligence, present in a machine software or robot system, can be defined as something that improves the existing skills of humans. But, the fear that in future augmented intelligence might entirely replace human work cannot be shrugged away. As per research more than 70% of people fear this. This fear is also pushing companies across the globe to make sensible use of this technology and increase their business efficacy. This white paper talks about how augmented intelligence can smartly improve sales and reap benefits for all.

What is augmented intelligence?

There is a myth related to augmented intelligence that it might eliminate human jobs in the coming years, but the fact is that it will help the machines and humans work together in harmony. Actually augmented intelligence has the capacity to increase the productivity by almost 40% of existing efficiency. In the coming future augmented intelligence would work in coordination with machines and humans for effective and better output. Augmented intelligence is extensively used by the banking and financial institutions to maintain balance and provide better customer experience. Similarly, healthcare industry needs real time action and high efficiency while dealing with patients, and this can be achieved with the help of augmented intelligence. It can be summarized that augmented intelligence allows machines to analyze and judge like humans as well.

What does augmented intelligence actually do?

Augmented intelligence is often called as a “mirror to human intelligence” and helps in increasing human intelligence to help them work faster and smarter. As opposed to general myth, augmented intelligence is expected to work with humans rather than replacing it.

It has a five-function module that helps in understanding with human influence. The cycle is a repetitive circle of understanding, interpretation, reasoning, learning and assurance. Augmented intelligence first understands the data fed to it, and then breaks down to derive meaning of the data. Every time data is given, the system compares old data and produces new relevant data, and then the system produces result with the help of new data. Based on the feedback given by humans the system adjusts accordingly. Furthermore, security and compliance are possible with the help of blockchain and augmented intelligence technologies.

Augmented intelligence and its impact on Sales

Today the world is largely influenced by digital innovations and is implemented in all business stages.

In today’s digital era sales of a company is highly influenced by the way leads are handled, often it’s a case of hit or miss. Augmented intelligence is the development of close-to-human automatic intelligence with the help of modern technology that helps by working along with humans rather than replacing it. 

Augmented intelligence helps in expanding business at a great pace by increasing productivity of employees and increasing efficiency. Sales is an integral part of a business and impacts the overall performance, wherein communication is the key to succeed. With the help of augmented intelligence, productivity increases by almost 20% post implementation. Also, communication customer service and requirement analysis can be faster and negotiation is improved as opposed to robotic systems.  An augmented intelligence enabled software helps users monitor all the stages that the lead goes through to study and analyze various customer trend. These insights are useful for developing future marketing strategies.

Factors helping in sales growth

• With the help of augmented intelligence in CRM the data is easily managed and curated without errors.
• Augmented intelligence helps in reducing the burden of CRM by reduced data entry process for faster uploading and managing of customer data. As a result the data entry process of CRM is reduced.
• Augmented intelligence are powerful tools that have the skillsets to analyze and translate the data for better utilization of the sales cycle.
• Augmented intelligence tools are smart, they don’t tell the sales person what is to be done, and instead they analyze and predict human reaction based on the customer study.
• Industry experts have predicted that augmented intelligence for improved and enhanced sales, is the next big thing. This would be achieved by working with humans, not replacing them.
• For all businesses the market is recognized by Data-driven decision making (DDDM) processes across the globe. The DDDM approach helps you understand the likes and dislikes of a customer along with understanding the clients need properly.

Salesforce and augmented intelligence

Salesforce, is one the popular augmented intelligence based CRM programs that is used extensively by the sales team across the globe. This technology allows salesperson have a systematic approach towards gathering of data and authenticating the data at the same time ensuring there is complete market analysis.

Let’s look at an example, consider a situation wherein the salesperson is unsure about continuing the sales presentation based on the feedback received from the customer. Here, with the help of augmented intelligence the salesperson can easily analyze the thought process of the buyer and modulate his sales pitch accordingly. This also helps the sales team during the cold call process that helps the sales person analyze the customer preferences.

Augmented intelligence with helping the sales team also increases the responsibility of the sales manager. The sales manager needs to ensure that there is a balance between implementation of augmented intelligence and maintain the sales culture, as before. Augmented intelligence helps sales teams to forecast an achievable sales figure and at the same time focus on better ideas and conversion techniques.

Conclusion:

The future of sales and augmented intelligence is bright and they are expected to work along each other hand in hand. Together they would make the overall sales process more successful and transparent. This is the reason why many companies are opting to invest in augmented intelligence based CRMs, like Salesforce. 

Recent studies indicate that augmented intelligence tools market hit almost $ 1.2 trillion mark and is expected to grow by the end of the year 2022. Industry experts predict that the coming ten years, would see augmented intelligence as the most disruptive technology, whereas some say this to be the way to automate sales processes leading to reduced time for both involved and ensure company growth.