Chief Executive Officer
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Imagine you have to define your company budget and decide how to invest it to grow your business or, have to invest time, resources and money in a new marketing or sales strategy. Whether you are a CEO, a marketing director or a sales manager, the goal is always the same: to make decisions that allow your business to optimise processes and increase earnings.
To do that, it’s necessary to analyse large amounts of data and forecast turnover trends, something not everyone can tackle independently. With the digitisation of SMEs, artificial intelligence and machine learning are being put at the service of companies, offering tangible support to all business sectors through the use of Virtual Agents.
We aren’t talking about the chatbots used by customer services to handle enquiries and orders, but software based on artificial intelligence that almost becomes a virtual “colleague”. These software packages support and assist CEOs, CFOs, marketing or sales managers, through to production and purchasing managers in their daily work.
Virtual Agents are artificial intelligence applications capable of understanding your business needs. By analysing data on the current state of your business and comparing it with historical data, they can forecast your company’s performance and show you what your strategic choices can achieve. With virtual agent forecasts, your company can have all the information it needs to make decisions that increase its turnover.
To understand how artificial intelligence can help your company increase turnover, you need to better understand what a Virtual Agent is. Let’s start by saying this is an artificial intelligence application, i.e. an algorithm able not only to understand what humans tell it, but also to give “almost” human responses.
A Virtual Agent does not give pre-prepared answers like a classic chatbot. It is a real software programme, better defined as a “colleague-bot”, which understands you and interacts with you and your team. The agent receives information, processes it using natural language processing (NLP) and natural language understanding (NLU) algorithms, which become increasingly sophisticated, and then provides answers. By training a Virtual Agent with a large amount of data using machine learning techniques, it will become increasingly adept at analysing the market and predicting future trends with high levels of accuracy.
Even though they are more efficient and faster, Virtual Agents can never replace their human counterparts, but they are able to offer insights to help those humans make informed decisions, saving time and resources, and therefore money.
Let’s take a look at what the CEO of a company does and how they manage their work. This is by no means an easy job, quite the contrary: as CEO you must always be aware of your company’s current position, defining KPIs to assess your business performance, and bringing together everything you need to understand whether your defined strategies and budgets allocated to the various areas are achieving the desired results.
What if you had Virtual CEO Agent to help? The thankless task of analysing the data would fall to your ‘”artificial” colleague, who is not only able to monitor your business, but can easily produce simulated budget investment scenarios. In a matter of minutes, rather than hours or weeks, you would know whether your defined company strategy could really work and help you grow, or whether the invested budget would be irretrievably lost. With this predictive information at hand, the CEO of any company is able to avoid bad investments and better navigate the decision-making process.
The power of a Virtual Agent is precisely its ability to provide support and always offer the best predictive analysis, leaving the “human” CEO with nothing to do but make the best decisions for their company.