Using AI to Solve Your Commercial Intelligence Problem
Jul 22, 2024
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Knownwell's experts David DeWolf, Mohan Rao, and Pete Buer discuss how AI can enhance commercial intelligence, improve client relationships, and drive business profitability. They are joined by Dr. Andy Workman, who highlights the use of AI in higher education. Ramsri Golla showcases the potential of AI in breaking language barriers with an Indic languages model.
Commercial intelligence enhances economic relationships for sustained growth and profitability.
AI in commercial exchanges improves customer understanding, engagement, and decision-making for better services.
Deep dives
Commercial Intelligence and Its Importance in Business Relationships
Understanding the economic relationship between service providers and clients is key to sustaining and growing business relationships. Commercial intelligence focuses on the economic dynamics between parties, aiming to enhance profitability and customer service. Research shows that organizations excelling in commercial intelligence are more likely to retain and grow, ultimately driving business success by serving customers effectively and creating economic value.
AI's Role in Enhancing Commercial Intelligence
AI can enhance and augment various aspects of commercial exchanges, such as data processing, pattern recognition, and predictive analytics, to improve the relationship between customers and service providers. Enhancing understanding and engagement, AI can help identify patterns, understand natural language, provide decision support, and continuously improve, leading to better services for both clients and service providers.
AI's Impact on Client-Centric Operations and Service Enhancements
AI offers opportunities to move towards client-focused leadership by operationalizing client-centricity through data-driven strategies. By leveraging AI in operations, businesses can better understand client needs, preferences, and feedback, leading to improved service quality and outcomes for all stakeholders. AI technologies, like NLP, enable deeper insights into human communications, sentiments, and intents, bridging gaps and enhancing relationships in client interactions.
How can businesses ensure customer satisfaction in economic relationships? How can they continually elevate the value they bring? And what if AI could fortify your company’s foundational strengths? The answer lies in commercial intelligence.
Courtney Baker is joined by Knownwell’s CEO David DeWolf and Chief Product Officer Mohan Rao. They dive into the transformative potential of AI in solving commercial intelligence problems, highlighting how AI can enhance and augment business processes to sustain and grow economic relationships, making companies more profitable and client-centric.
Special guest Dr. Andy Workman, Provost at Widener University, shares insights with Chief Strategy Officer Pete Buer on what business leaders can learn from the challenging economics of running colleges and universities. He discusses how AI can tackle issues like stagnant revenue, high labor costs, and increased competition, drawing parallels between the higher education sector and the corporate world.
In our AI in the Wild segment, we introduce Knownwell's Lead Data Scientist, Ramsri Golla, who developed an AI model featured in the Google I/O keynote. Ramsri explains how he and Ravi Theja Desetty trained a model on 15 different Indic languages, showcasing the incredible potential of AI in breaking language barriers and enhancing communication.