How AI Can Maximize Retailer-Supplier Relationship

The scale of this growth has the power to transform every aspect of how business is conducted. So, where does that leave business-to-business (B2B) engagement? Furthermore, how does it impact B2B engagement solutions for organizations made up of humans? Well, with 46% of businesses citing customer relationships as their focus for AI, it puts us in a position of great strength, knowing that tools are on the way that can improve the vital relationships that power a business.

Good B2B Relationships Require Good Data (That Can Be Used)  

At their heart, relationships — between businesses (and people) — are all about data. It’s about knowing as much about your business partners (including what they think of you) as possible, finding ways to reinforce your strengths, capitalizing on areas of opportunity, and, ultimately, designing engagement solutions that work for everyone.

In a world where 60% of people say that a lack of data causes negative experiences, yet businesses are collecting five times more data than they were 10 years ago, AI’s data processing capabilities will be able to fill a gap that exists between having the data and truly understanding it. This gap prevents data from being used to its full potential, weakening the value businesses can extract and invest in their relationships.

AI data processing tool enables businesses to make sense of vast quantities of data, improving the usability of the data and its eventual impact on businesses. For example, Advantage Qualitative Artificial Intelligence (AQAI) provides Advantage Report clients with positive and negative sentiment data extracted from vast amounts of qualitative data. This allows them to understand and act on feedback more accurately and swiftly.

In addition, the speed at which AI can process large quantities of data will liberate one of the most valuable commodities for B2B relationships: human time. Mid-level office workers are predicted to save an entire workday (between six and 10 hours) every week once AI is implemented across businesses. The reinvestment of this saved time into a relationship can bring significant value to B2B relationships, particularly with communication and collaborative planning.

Three ways AI expands human capabilities to improve B2B relationships

So, rather than proving that people will be obsolete, AI carves a pathway for people to invest in B2B relationships. Increased implementation of AI tools will provide humans with the extra time required to do three actions that are vital to building and maintaining strong B2B relationships.

1. Deciphering data with intelligent insights

AI can spot trends and visualize data in the blink of an eye, but applying this to the real-world context falls outside of its capabilities because AI is built to organize what already exists rather than make sense of what might happen. It cannot be dynamic nor account for variables that occur in real-life situations. For B2B relationships, AI prevents people from spending time attempting to extract and process insights. Instead, it empowers people to understand the data and apply what they have learned to their business partner’s challenges and unique context. Essentially, AI puts more information in the hands of businesses so that they can make more informed and strategically effective decisions for their organization.

2. Producing innovative solutions

AI works based on ideas that already exist. It can reproduce work, but the act of creating something genuinely new and original is still a human skill. With the additional information and time that AI will provide, it will be the imaginative, creative problem-solving skills of people that add real value to B2B relationships and promote divergent thinking that is essential to building innovative solutions.

3. Building meaningful connections

Relationships require time to build and maintain a strong foundation. With AI freeing up time that would otherwise be spent finding and logging information, the technology can empower deeper engagement from people on both sides. This will allow people to engage with each other more empathetically, as the additional time means people can prioritize their relationships.

Humans and AI Create Stronger B2B Relationships

“AI is not going to replace humans, but humans with AI are going to replace humans without AI.”  Karim Lakhani, Harvard Business School

At Advantage Group, we see the potential for richer, more meaningful business relationships as AI is integrated into everyday operations. Although the transition will be complex, businesses must stay focused on applying the technology in a way that empowers people to strengthen their B2B relationships. After all, people working together, with all our insight, creativity, and care, will find the solutions businesses need today and in the future.

To learn more about how AI can strengthen your B2B relationships, get in touch with one of our Engagement Advisors today.