Everyone is talking about AI’s potential to transform business. The technology is being applied in a variety of ways to drive efficiencies, boost productivity, and enable employees to make better decisions.
The value of AI often doesn’t truly come to life, until you see how companies are using the technology in the real world.
Here are three compelling examples of how companies are leveraging AI today to liberate their corporate knowledge.
- Global Consulting Firm: Immediate Answers to Drive Performance
A consulting firm’s biggest differentiator is its team’s expertise and the quality of advice it gives clients. If a consultant cannot get the information needed to provide counsel quickly, the recommendations and work quality can suffer. One global consulting firm is using AI-powered knowledge management to equip employees with the right answers in the moment to drive the best results for clients.
The firm is using AI to connect all its data from various internal applications that live across departments and create one access point to the material. When employees need something or have a question, the AI scans all the data the firm owns or licenses across the entire business and provides a summary response based on the top results. Users can see exactly where the answer comes from and check the source so it can tell the system if the answer is inaccurate or does not address the question, so the AI learns for next time. The company integrated these capabilities within its business messaging platform so employees can get immediate answers in the application they’re using most throughout the day.
The result is a streamlined process for knowledge retrieval and sharing that unlocks higher levels of productivity and performance across departments.
- Leading CPG Brand: Fast Access to Information to Boost Innovation
Innovation is the lifeblood of consumer-packaged goods (CPG) brands. Employees need to be at the top of their game in terms of sharing new ideas, making smart decisions around strategy, and conducting market research fast. If employees cannot access the firm’s intellectual property or get insights and knowledge quickly, innovation can stall, and the organization loses its edge.
Access to information in most large businesses, however, is extremely challenging. Resources are spread out across different departments, and it is difficult to find information and know what is available. Asking a colleague for a resource or input on something disrupts productivity. Sifting through shared drives to find resources takes a lot of unnecessary time. While you are looking for the information you need to inspire your next big idea, your competitors could be getting out ahead.
One leading CPG brand recognized the need to remove this pain point altogether. The company uses AI to take employees directly to the specific page, slide, or video time stamp where the information they need lives. The AI also suggests different internal resources sources and ways to explore different topics to guide users along in their search journey and help them find useful content.
Employees can now surface the exact information they need in real-time, transcending the traditional boundaries of functional silos. If you are in a brainstorming or strategy meeting for your next new product and need to reference a specific statistic in a market research report, the AI takes you right to that finding so you can productively continue your discussion. Employees are empowered to make better decisions and get time back in their day to work on the most impactful business projects.
- Billion-Dollar Investment Firm: Fast Deal Analysis and Decisions with AI
A lot of data and analysis is needed to make a sound investment decision, yet finding this information internally can be like searching for a needle in a haystack. A billion-dollar investment team typically has 250-300 potential deals a year they must analyze, research, and conduct due diligence on. The faster these teams can find information, the faster they can evaluate and invest in the best deals, bringing in more money for the business.
This is where AI steps in. One investment firm is tapping AI to aggregate its information from diverse internal sources, streamlining the research process. By reducing the time spent on data gathering, investment professionals can focus more on critical analysis, leading to swifter and more informed investment decisions.
In the world of finance, where data is a cornerstone of decision-making, the ability to access and analyze information quickly is crucial. The integration of AI capabilities within the platforms investment professionals are already accustomed to enhances efficiency and minimizes any learning curves.
Start Writing Your Own Story
The stories above highlight the powerful impact of AI on knowledge management across industries. By embracing AI-driven knowledge management, companies can chart a course toward a more productive, collaborative, and empowered future.
Ready to start writing your own story? If you are on the market for a knowledge management solution, learn what you should be looking for in our recent blog.