In this article, we discuss some tools and technologies, including AI, that you might consider using to automate, streamline and support your broking business processes so you have more time for your clients.
What is Artificial Intelligence (AI)?
Generative AI is a type of artificial intelligence that can produce content in response to prompts, including text, imagery and audio.
It seems that new tools have popped up everywhere in recent months, and you may have noticed your existing platforms are incorporating AI features to help craft text or record your meeting notes.
While it seems like everyone is talking about AI right now, there are also plenty of technologies and platforms that can help you in your business that aren’t AI-based.
What technology should I use?
Changing a business process or trying new technology can be daunting and may take some time in the short-term, but can be game changing in the long-term. Choosing the right tool or platform is like finding a pair of shoes, you’ll want to try a few on before you figure out which ones fit best and meet your business needs. You should also carefully consider platform features, costs and terms prior to signing up. And always consider how up-to-date any AI tool you’re considering is. For example, the free version of ChapGPT was most recently updated in Janurary 2022.
Existing tools
It’s likely that a number of platforms you’re already using that have already incorporated AI features or optional add-ons that can save you from having to add yet another program to your ever-growing repertoire. Here are a few:
- Microsoft’s Copilot includes AI-powered chat, plus it integrates with other Microsoft applications including Teams, Word, Outlook, PowerPoint and Excel.
- Zoom’s AI assistant helps draft emails, chat messages, summarises meetings and can help boost your creativity during brainstorming sessions.
- Google One AI Premium provides you with access to Google’s Gemini Advanced to help your productivity across Goolge apps including Gmail, Docs, Sheets and Slides.
- Canva is continually iterating their range of AI tools that help you design and create. Whether you want Canva’s Magic Studio to create a design from scratch (including AI generated video) or Magic Write to brush up your existing text (more fun, more formal or to sprinle a little fairy dust), there’s plenty to explore.
Supercharge your workflow with management software
For brokers workflow, automation can embed procedural efficiencies by streamlining repetitive tasks like client onboarding, claims processing, policy renewals and commission calculations. Platforms like monday.com, Asana, and smartsheet (these platforms may come at a cost, depending on the subscription model you choose) will help you and your team create, document and monitor the steps included to complete a task. Using systems like these to track a workflow can ensure tasks are completed effectively, with the right people involved and delivered on time.
Create content and marketing materials with ease
You can use blogs, social media, video and other marketing tools to build a personal brand, maintain your reputation and build trust with current and prospective clients. LinkedIn, for example, is among the platforms forecasted to grow significantly in 2024, which can allow brokers to expand their professional network and connect with clients. Using a marketing scheduling platform and creating unique and insightful content can be made much easier with platforms like Buffer, Later, Sprout Social and Hootsuite. You can also get on top of your video content with Sythesia, Loom, or if you don’t like listening to your own voice, create audio with PlayHT.
Master your meetings with a virtual assistant
AI-powered virtual assistants are the ultimate multitaskers, handling everything from scheduling to taking meeting notes and providing personalised recommendations. They’re available 24/7, adapting to your needs with natural language understanding. Plus, they’re cost-effective and provide valuable insights. You might like to try Otter.ai to record meetings, transcribe audio and more, Motion app to organise your diary and projects, or Calendly to help customers book an appointment directly into your calendar.
Fun stuff
We’re not sure if these tools and apps will help you in your business, but they can be a lot of fun to play around with. Create imagery from scratch with generative AI tools PIXLR or Midjourney, summarise an article with TLDR this, play a drawing game against an AI bot in Quick, Draw or update your brand identity with Looka.
Explore more
Overall, there is no one size fits all approach to incorporating AI and technology tools within your business and we’ve only just scratched the surface of what’s available.
The information and resources provided in this article are intended for educational purposes only and do not constitute professional advice or endorsement of any specific AI tool or technology. Users are solely responsible for ensuring their use of any tool or technology aligns with ethical principles, respects individual privacy, and complies with all applicable laws, regulations, and organisational policies.
Reference: This article was written by the Mortgage and Finance Association of Australia (MFAA)
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