Measuring success in the age of AI

How businesses and managers measure their success in the age of artificial intelligence has changed drastically over the past decade, and today we count it with new indicators. With the rise and democratization of AI technologies and the increasing capacity of companies collecting data, even small businesses can now measure their success from this new perspective.

The number of deployed robots producing value and impact will determine the company’s size. As a result, headcount is no longer the primary indicator to measure the proportions of a company. Instead, companies will quickly focus on high-performing employees that can train AI systems and aggregate data.

The new competitive advantage is the amount of proprietary data and the capacity to transform the data into a super customized “added value” in real time. As a result, businesses can no longer treat customers like a cluster of behaviors. Instead, knowing each customer’s characteristics is critical to creating loyalty and passing through the noise of too many options in the market. Additionally, businesses will rely more than ever on analytics to measure customer lifetime value, which helps them determine how much they should invest in research and development, customer acquisition, and retention.

5-star customer satisfaction in a super customized marketplace requires new engagement strategies, and businesses go beyond expectations regarding innovation and service. Companies must capture customer satisfaction in broader dimensions; however, customer feedback surveys, customer service ratings, and other current metrics remain relevant. Quick adaptation to a more dynamic offer will ensure their customers are amazed and returning.

Finally, businesses still measure their performance in terms of financial metrics, such as revenue, profit, and ROI. The difference is that all these indicators are mainly driven by automation and the key humans behind them.

Bonus, in the age of AI, keeping employees inspired and promoting physical, mental, and spiritual well-being will be critical to handle unseen challenges that require critical thinking and creativity.

Overall, businesses in the age of artificial intelligence can now measure their success in ways that were once impossible. With access to cheaper AI technology, real-time data, customer feedback, and financial metrics, companies can understand their customers better and make more precise decisions about their strategies.