AI's Impact On Business Communication: 3 Future Predictions

Imagine a world where you can talk with a business whenever you want, whether day or night and receive the assistance you require. Alternatively, envision a helpful voice assistant that reminds you about crucial meetings and handles all your scheduling troubles.

This is not a work of fiction! The upcoming era of business communication is made possible by an incredible technology known as Artificial Intelligence (AI).

The effectiveness of this tool has advanced significantly over time, mainly due to the integration of GenAI with other rising technologies. According to McKinsey, combining GenAI with cloud technologies could unlock over $4 trillion in value.

Considering this, AI is predicted to have a greater impact on communications, but where will this impact be most significant?

AI is like a highly intelligent assistant that can grasp and adapt to our way of communication. It can efficiently manage everyday tasks and compose professional emails. However, AI is not meant to replace the personal touch in business.

Its purpose is to liberate us, allowing us to concentrate on what truly counts – nurturing relationships and engaging in meaningful discussions with clients and colleagues.

Here Are 3 Future Predictions On Business Communication

These are three forecasts for 2024 regarding the future of AI in business communications and the upcoming wave of changes we anticipate.

The Speech-Writing Industry Will Be Forever Changed

In 2022, two entrepreneurs decided to use an AI-generated script for a 40-minute business presentation. It was a combination of a social experiment and pure curiosity. The final outcome was peculiar in certain areas, yet it seemed quite plausible.

The presenters concluded that, despite being random, the script was reliable enough to suggest that “the uncanny valley is becoming less deep.”

In just a couple of brief years, many of the previous issues related to AI making illogical decisions have significantly decreased as the technology advances with each new version. This advancement will benefit C-Suite executives and industry leaders who often speak at events, hand out awards, and make public statements.

Moreover, according to Gartner’s forecast, a staggering 75% of enterprises will adopt generative AI technology to generate synthetic customer data by 2026. This advancement holds great potential in the realm of speechwriting, particularly in handling crisis communications.

Imagine a scenario where a public statement must be delivered urgently, and the choice of words can significantly influence the effectiveness of crisis management. In such situations, leveraging generative AI can prove invaluable.

A confidential LLM model enables leaders to simulate scenarios and gauge audience reactions to sample statements. By minimizing uncertainty in high-pressure situations, this tool assists leaders in crafting statements that strike the perfect balance of tone and sentiment.

Moreover, it provides detailed insights by analyzing internal data and previous speeches to create scripts aligned with corporate standards.

AI Customer Service And New Industry Use Cases

At first, companies wanted to improve customer service by making agents more productive or reducing their numbers. However, there are some problems with this approach that are becoming more evident.

These problems include using bots alone instead of integrating them into a comprehensive system, neglecting the quality of the data used, and causing customers to get stuck in frustrating loops that greatly decrease satisfaction rates.

Companies that are using GenAI chatbots must prioritize cleaning up their knowledge base and customer data. We anticipate a greater emphasis on this in 2024 as the adoption of chatbots continues to grow.

Often, companies find it more convenient to begin with a fresh knowledge base created from valuable customer interactions gathered from calls, chats, and emails to avoid conflicting information. Around 40% of businesses could benefit from this approach.

We can expect to see an increase in the use of chatbots in specialized industries. By 2027, over half of the GenAI models used by businesses will be tailored to a specific industry or business function. For example, the legal sector is a highly regulated industry where AI can provide great benefits.

Lawyers often face time constraints and incomplete information, making status updates challenging. Additionally, drafting legal documents can be complex. Using a personalized AI tool as a support system can greatly enhance business operations.

Trust And Transparency Are Becoming Important

With the emergence of new applications and advanced models, we anticipate a greater emphasis on establishing trust and transparency with customers and clients. Numerous companies are opting to label AI-generated content or assign names to chatbots that clearly indicate the use of AI whenever customers engage with the tool.

As an illustration, Meta introduced comprehensive guidelines in April 2024, which involve labeling a broader spectrum of video, audio, and image content as “Made with AI.” we anticipate witnessing an increase in such practices.

Governments and policymakers are closely observing the necessary measures to prevent the decline of public confidence in online information, especially leading up to a worldwide year of elections.

For instance, President Joe Biden released a comprehensive executive order in October 2023, which outlined recommended methods for clearly identifying AI-generated content and provided guidance on avoiding deepfake content.

Currently, these decisions are voluntary, but as governments and policymakers delve into the widespread use of this technology, they may soon establish regulatory norms.

Final Verdict (The Next Frontier Of Communications)

AI has already revolutionized the manner in which companies and organizations communicate, leaving an indelible mark. While the possibilities are exciting, we also have to confront the risks of hallucinations and deepfakes which have come into sharper view.

Nevertheless, revolutionary answers are being crafted to address these demanding situations head-on, while new algorithms are being devised to make sure that AI is harnessed in a just and reliable manner for the betterment of society.

AI will play a crucial role in enhancing our conversations, relationships, and business outcomes. It will work silently in the background, enabling us to have more meaningful interactions. With intelligent machines as our partners, the future of business communication looks promising, as it brings back the essence of human connection.