As a technologist and someone who has been fascinated by language technologies and AI since I was young, it is exciting to see the rise of AI in so many places – especially in the sales industry. There is a great deal of talk and hype about the differences between generative AI and language AI and how to utilize them in business, so here’s the lowdown.
Generative AI and language AI are quite different beasts, but they share a common goal of mimicking human intelligence in some form. Both are exciting fields with tremendous potential – especially in the sales industry. Generative AI, as the name suggests, is designed to generate new content, whether images, music, or text. On the other hand, language AI is focused specifically on understanding and producing natural language, such as through natural language processing (NLP) or machine translation. In many ways, language AI is a subset of generative AI, but tackling it effectively requires a specific skill set.
There are many uses for AI in sales, and more are being innovated and discovered every day. Specifically, here are five ways sales teams can take advantage of the technology.
At the operational level, AI can automate routine sales-team tasks such as data entry. This frees up valuable time for sales teams to focus on more strategic initiatives. At the same time, by analyzing language at scale, it can also provide valuable insights to the executive team, such as detecting trending objections, new competitors, frequent requests, and more. This helps executives make informed decisions, improve transparency and data integrity, and drive overall efficiency.
Sales teams face many challenges, but nothing more difficult than managing and tracking their vast amounts of information. Language AI can help by automating the process of summarizing customer conversations. This not only saves time and effort that would be spent manually transcribing and analyzing the conversations, but also ensures the data is accurate and reliable. AI can analyze not only written notes and transcriptions, but also audio and video recordings of sales conversations – extracting key insights and summarizing them in an easy-to-read format. The result is a more efficient sales process, with sales teams spending less time transcribing and analyzing sales conversations and more time closing deals.
Language AI algorithms can analyze customer interactions – such as transcripts, chat, and emails – to extract key information and enter it into sales engagement platforms, but AI platforms can also determine the sentiment of a sales call. What was the tone? Was it friendly or agitated? Did the customer seem excited or bored? The result is a more accurate and up-to-date sales database, allowing sales teams to provide a more personalized experience to customers as well as follow-up that addresses not only the content of the call, but the feelings and emotions.
One of the key benefits of language AI in the sales process is the ability to detect objections, new competitors, frequent requests, and more. By analyzing customer interactions, these technologies can identify key insights and patterns – allowing sales teams to quickly understand the most important aspects of the conversation. For example, AI algorithms can analyze customer interactions to identify objections and provide sales teams with strategies to overcome these objections.
Language AI can be used to cluster and analyze input from multiple places, such as transcripts, chats, emails, videos, and other customer interactions. This allows sales teams to quickly understand the most important aspects of these interactions, including customer preferences, purchasing habits, and more. With the ability to cluster and analyze customer interactions, sales teams can provide a more personalized experience to customers, based on the latest insights and trends.
Businesses may hesitate to adopt AI due to concerns over cost, time, and effectiveness. However, with the rise of low-code/no-code AI tools and expert support, these fears can be addressed. No-code/low-code AI platforms allow businesses to create and implement custom AI models without the need for coding knowledge. They are designed to be accessible and user-friendly, while still offering the power to create sophisticated AI solutions.
Additionally, businesses should not underestimate the value of partnering with AI and NLP experts. These specialists can assist in fine-tuning AI models and maximizing their potential – leading to improved efficiency, accuracy, and cost savings. By combining the best of both worlds, businesses can reap the benefits of AI without sacrificing time or resources.
AI for sales is a powerful tool that sales teams can (and should) take advantage of to transform their processes and reach their business goals. By leveraging the right mix of tools and technologies, businesses can unlock the full potential of AI to revolutionize their sales pipelines. With a well-thought-out approach, AI can help sales teams reach their targets and produce the desired results.
Amit Ben is the founder and CEO of One AI. Amit led the AI lab and developed the technology that powers products enjoyed by hundreds of millions of users, such as GoToMeeting, Bold360, and LastPass. He realized that the technology had reached the point where it could be offered as a service, and decided to build it as a service that any company could use.