3 Ways AI will revolutionize financial success

It’s no secret that artificial intelligence (AI) continues to make a significant impact on industries and job markets, large and small, with some industries completely overhauling their production process. Its adoption aims to increase efficiency and productivity. It is estimated to completely transform 32% of the world’s jobs over the next 15-to-20 years with many repetitive tasks going by the wayside, allowing people to focus on more complex financial decisions.

“As AI continues to become more mainstream, we're going to see it infused in everything that we have,” said Paul Hager, vice president of Services at Ingram Micro.

Discover three ways that AI impacts the financial success of any business.

Accelerated sales through automation:

By eliminating repetitive tasks, and responding to customers with quote auto-generation, companies experience faster deal closures, which translates to faster revenue growth. Moreover, AI automation is saving sales professionals 2.5 hours per work week, resulting in opportunities for this workforce to prioritize tasks that require more personalization.

“We’ve had robotics process automation for a long time, that for all intents and purposes is AI and machine learning,” said Karl Connolly, industry expert.

Strategic, data-driven insights:

AI can help guide in-depth analysis by empowering businesses to make more informed decisions about product offerings, renewals and benchmarks. Leveraging large data sets helps companies to find new opportunities with existing customers and determine successful sales strategies.

“Having the data about credit, terms, payments and pricing all in one data lake certainly gives us the opportunity to make more enhanced automated decisions around areas like credit, financing and risk,” said Hager.

Future-proofing financial processes with AI integration:

While AI and financial processes are generally separated, AI can enhance automated decisions around financing terms and more, said Hager. Combining financial solutions with platforms like Ingram Micro Xvantage™ opens the door to more streamlined and automated financial transactions or allows businesses to focus on more complex financial decisions, saving customers time and money. Moreover, if AI is fully applied, 65% of business leaders claim their companies would see exceptional growth.

“It’s a really good opportunity to start sowing the seeds of automation in an end customer account…it takes away the jobs that you don’t like doing so you can spend more time in front of clients,” said Connolly.

Ingram Micro’s Financial Solutions team helps companies of all sizes discover how to capitalize on the latest technologies like AI through a holistic approach to business growth strategies. Learn more about how to grow your business with the latest technology and financial services available through Xvantage.

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Jackie Connor is a writer with more than 15 years of experience contributing to news publications and marketing teams. Since joining Ingram Micro in 2022, she covers technology services, financial solutions, ESG and DEI.

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