Summary
Companies are using artificial intelligence (AI) tools to improve efficiency and unlock new business capabilities. By automating routine tasks, businesses are not just saving time and money but also discovering new ways to grow and innovate. Examples include IBM, SAP, and Walmart, which have used AI to enhance contract bidding, sales processes, and product development, respectively.
Key Facts
- IBM's AI tools started with automating tasks, saving time and costs, which later provided new business capabilities.
- One company's contract bidding process was reduced from weeks to hours using AI, allowing better pricing strategies and revenue growth.
- SAP used AI automation to significantly reduce sales cycles, creating 22,000 new customer opportunities in 2024.
- Walmart's AI system sped up product development by quickly responding to market trends, enhancing its competitive position.
- AI is seen not just as a cost-saving tool but as a way to gain competitive advantage through innovation.
- An op-ed discusses that in the SaaS industry, AI's biggest impact is on the engineering side, improving code processes.
- The potential for AI in SaaS is in modernizing systems and processes, with real return on investment seen in these areas.
