Category New Technology

The pace of technological advancement is accelerating. This is not news to anyone wading through the ChatGPT craze. Artificial intelligence (AI) is at the forefront of this revolution. We are swiftly seeing companies adopting AI solutions. Even more rapidly are software providers like Microsoft adding AI to tools. 

The goal is to use AI to do things like:

• Streamline operations
• Automate tasks
• Reduce errors
• Boost business output

The 2024 Work Trend Index is a joint report by Microsoft and LinkedIn. It provides valuable insights into the current state of AI in the workplace. The study sheds light on how AI is transforming the way we work. It provides both fresh ideas and considerations when using AI. 

Being a business IT provider means we keep on top of these types of reports. By understanding the trends, we can help our clients navigate these changes. We can also help them leverage the power of AI to drive business forward. 

Next, we’ll look at the main trends identified in the report. As well as explore how they can impact your operations.

Employees Want and Expect AI at Work

Is your company lagging behind in AI adoption? You may find it harder to attract and keep top talent. The study shows that 75% of knowledge workers now use AI at work.

Employees understand that AI helps them do certain things faster. One of the concerns is a lack of rapid adoption by companies. Companies in turn need to have a plan. AI is like any other new technology. It can help, but only if you do it right. 

The best way to move forward is a partnership with employees. Learn how they feel AI can help them most. This gives you a great starting point for where to leverage AI effectively. 

AI Skills are Becoming More in Demand

There are now new positions we never heard of just three years ago. Prompt engineer is one of these. Employees who know how to use AI to get the best output are most in demand.

The study also found that job loss fears haven’t yet been realized. Instead, companies are seeking AI-skilled staff. Fifty-five percent of leaders worry about having enough talent to fill needs.

The need for AI skills means employers should add AI training to upskill teams. Employees can take the initiative to improve their use of AI and prompts. It’s in everyone’s best interest to learn how to harness AI productively.

The Evolving Role of Employees Using AI

The report also reveals a notable divide in employee use of AI. The spectrum begins with skeptics, rarely using AI. On the other end is power users. They use AI frequently in their work.

These AI “power users” are saving more than 30 minutes per day. They do this by reengineering their workflow using artificial intelligence.

Some of the ways that AI can augment roles and assist with tasks include:

• AI-driven automation 
• Data analysis and reporting
• Customer support enhancement
• Document and policy drafting

Companies can benefit from their AI power users. These employees can help train others on their team. They can also help create foundational processes and templates. Other employees can then follow these templates to enhance their work.

Things Can Get Messy Fast without a Plan

Companies have immense pressure to show ROI. Many haven’t yet figured out how to do that with AI enhancements. But they’re also worried about being too slow to adopt. 

One of the issues this has led to is employees using AI on their own. Using un-sanctioned AI tools. Possibly using AI where the company would rather have a human touch. This puts the emphasis on businesses needing an AI use policy, and fast.

It’s the “Wild West” without a use policy in place. Companies can begin by contacting their IT provider for expert guidance.

The Ethical Considerations and Trust in AI

As AI becomes more prevalent, it’s essential to address the ethical considerations. The Work Trend Index emphasizes three important things in this area. These are transparency, privacy, and bias mitigation in AI systems.

Businesses must ensure that AI tools are deployed ethically and responsibly. This means clear communications to employees and customers about how it’s using AI. Building trust in AI is crucial for its successful integration into the workplace.

Final Thoughts on AI in the Workplace

The 2024 Work Trend Index offers valuable insights. It helps companies understand the transformative power of AI in the workplace. It’s important to understand these key trends and embrace AI strategically. Doing this enables businesses to unlock new opportunities. As well as enhance productivity and improve employee satisfaction.

Get Expert Help with an AI Game Plan

We are committed to helping you navigate the complexities of AI. We can assist you with leveraging its potential to drive your business forward. 

Contact us today to discuss how we can support your AI journey.

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Featured Image Credit

This Article has been Republished with Permission from The Technology Press.

The world has gone digital. We see it everywhere people shop for goods and services. Cash, check, or debit used to be the norm. Now, there are payment wallets that people expect businesses to accept. They include things like Apple Pay, Google Pay, PayPal and more.

Small businesses need to keep pace with these new methods of payment. It’s essential to adapt to stay competitive. You can easily lose business if people can’t pay the way they like.

As a trusted managed IT service provider, we’re here to help. Many of our clients are navigating this shift to cashless wallets. We’ll help you find solutions to ensure your business thrives in the cashless era.

Why Go Cashless?

It’s not just about convenience; it’s about meeting customer expectations. People want fast, easy, and secure payment options. The pandemic accelerated this trend. Now, consumers expect businesses to offer digital payments in several forms.

Here’s why going cashless is crucial:

• Customer convenience: Offer your customers the payment methods they prefer. People want to tap and go with their favorite digital wallet.
• Faster transactions: Reduce wait times and improve the shopping experience. You can reduce long lines. This helps you attract more customers.
• Enhanced security: Cut the risks associated with handling cash. Employee theft can be mitigated. There is also less cash handling at the end of the shift. This leads to a safer environment.

Forty-six percent of US respondents have used a form of contactless payment in the last 7 days. That number is 80% for the UK and 69% for Australia.

Benefits of Cashless Payments

Going cashless isn’t just about adapting; it offers real advantages. These advantages can mean more business for you. This factor helps pay for any expense to set up cashless systems.

1. Improved Customer Experience: Make it easier for your customers to pay. They’ll come back for more. You stand out to them as flexible. You also make their life easier if they can pay how they like.
2. Fewer Cashiers Needed: Moving lines faster can mean you need fewer checkouts. You can reduce staffing demands by embracing self-check-out as well.
3. Open New Payment Avenues: Open up app purchasing capabilities. Customers can pay before they even walk in the door. You reduce the burden on your team. When things are handled digitally, you lower needed administrative tasks.

Key Steps to Go Cashless

Ready to make the switch to a more cashless business? Want to embrace new forms of digital payments? Here’s a step-by-step guide to help you get started.

Step 1: Choose the Right Payment Solutions

Select payment methods that align with your customers’ preferences. Do your research by sending customers a survey. Start with the three most popular methods. You can then branch out from there.

Make sure to check transaction fees. You want to keep those in mind as you add new payment options. You may need to upcharge for a certain payment service. Or you may find a wallet is cheaper for you to take than a traditional card.

Step 2: Educate Your Customers

Let customers know about your new cashless options. Offer incentives to encourage adoption. Get the word out over social media and through any mailing lists you have. Do this regularly and often. People’s attention spans are short these days. 

Keep a payment options post in your social media rotation. Also, include acceptable payment options on invoices. You may attract new business as word spreads among friends and family.

Step 3: Strengthen Security Measures

Protect your business and customers from fraud with robust security measures. Make sure your point-of-sale devices are on a secure network. Use strong passwords and MFA to protect system logins.

Step 4: Watch Transactions and Customer Trends

 A nice thing about cashless systems is that they generate helpful data. Analyze data to optimize your payment processes and identify opportunities. You can gain detailed insights into things like:

• What payment methods are most popular
• The services and products make you the most money
• The most popular times of day for customer traffic

Step 5. Plan for the Future

Stay updated on payment trends and be prepared to adapt as needed. Add new ones that seem to be picking up steam. Continue to survey customers on their favorite payment options. You can often get your best ideas from customer feedback. 

Need Some Help Embracing Digital Payment Systems?

The cashless revolution is here. It’s time for small businesses to embrace it. By adopting digital payments, you can enhance your customer experience as well as improve efficiency and reduce costs. 

As your trusted IT partner, we’re here to support you every step of the way. Let’s make the transition to cashless payments a seamless one for your business.

Reach out by phone or email to schedule a chat today.

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Featured Image Credit

This Article has been Republished with Permission from The Technology Press.