Did you ever experience spending hours of your valuable time reading call transcripts to prepare a list of action items to work upon? The task is both tedious and menial and you might have even felt that you could be using the time doing something more critical for your business, something that adds more value… have you ever wished of having a better, simple and efficient method to get the job done?
Well, we understand you and come bearing good news!
You can leave all your worries about action items as AI is here to automate and make them more efficient for you. With AI and the power of automation, you can say adios to a manual extraction and welcome the automated action items.
In this blog post, we’ll explore how AI can help generate your action item list from call transcripts in a snap. Get ready for streamlined processes and increased productivity with automated action items.
What are Action Items and why are they important?
An Action Item can be described as an assignment that is allocated to an individual or teams to complete a particular function. They are mainly used in business setups to keep track of assignments that need to be completed before the deadline as Action Items can be produced from call transcripts with the help of AI solutions. This can be used for better time management and to make sure that all important assignments are captured.
Action Items play a major role in keeping track of what needs to be done within the given time, hence they are important. They also assist individuals or teams to stay more organized, focused, and accountable for their work. Moreover, Action Items provide a motivation tool for teams to work together to reach a common goal.
Introduction to Automated Action Items
At present, there is a growing dependency on the business world digital communications, this is resulting in the increased need for automated action items. The most obvious way to generate these action items is to do so by taking notes manually during a meeting and then creating a to-do list of assignments to be completed afterward. However, this process is time-consuming and often results in errors, and/or loss or forgetting some information.
Now with the help of AI solutions, it is possible to automate the entire process and automatically generate action items from call transcripts. This means that all the relevant information can be registered and saved in one place, making it easy to refer to and ensuring that nothing is forgotten.
Apart from this, there are multiple benefits of using different AI solutions for businesses. And it is important that you select the right one that addresses your needs. Using the right tools to automate, it is possible for businesses to boost overall efficiency, reduce the number of errors, and manage time more effectively so there is a greater focus on higher-level tasks.
If your main concern is to save time and increase efficiency in your business, then automated action items are worth trying.
Overview of Artificial Intelligence Solutions for Automating Action Item List Generation
In the market, many types of AI solutions are available for automatically generating action item lists from call transcripts. Some of the popular and effective solutions are:
1. Natural Language Processing (NLP): NLP is among the most popular types of AI. As the name suggests, NLP, which uses deep learning algorithms, to understand and replicate human language. NLP can be used to identify key concepts and information discussed in a call transcript to generate a corresponding list of action items.
2. Machine Learning (ML): As the name suggests this is a type of AI that allows computers to learn from data and improve their performance over a period. Machine learning can be used to automatically identify patterns in call transcripts and generate a respective action item list.
3. Cognitive Computing: Want to add the human brain’s capabilities to your machines? Cognitive computing is how you do it. This is a type of AI that can be used to simulate the human brain in order to solve complex problems. This AI-driven tool can be used to automatically identify the most important topics and issues discussed in a call transcript, and then generate a corresponding action item list.
4. Text Mining: This is yet another data-driven AI capability that can be used when there are large data files to be analyzed. This AI tool is very useful to process and analyze large amounts of text data. Text Mining can be used to automatically extract important information from call transcripts and generate a corresponding action item list.
The four solutions discussed were just the tip of an iceberg called AI. These solutions can be used to automatically generate lists of action items from the call transcripts. Based on the specific needs of an organization, one of the four solutions may be more suitable than the others.
Benefits of Using AI Solutions for Automating Action Item List Generation
“Artificial intelligence, deep learning, machine learning – whatever you’re doing if you don’t understand it – learn it. Because otherwise, you’re going to be a dinosaur within 3 years.” – Mark Cuban
Automating action items brings with it a bounty of benefits. Here is a list of some of the most significant advantages –
1. Increased transparency and accountability: This is one of the most noteworthy benefits of automating action items. By automating the action items list, you can know who is responsible for what. This further makes way for improved transparency and accountability within the organization.
2. Greater precision and efficiency: With an automated action item list, you can also be rest assured that there is an overall improvement in accuracy and efficiency. This is because automation minimizes (or even eliminates) the scope for human errors.
3. Better decision-making: By adopting AI solutions, it is also possible to improve your decision-making. This is possible because of the data-driven insights on action items which are most relevant and critical.
4. Improved customer satisfaction: By generating the action item list via automation, it is possible to improve customer satisfaction (CS) by ensuring that critical tasks are checked off in a timely manner.
5. Faster turnaround time: Automated systems have the advantage of producing action item lists at a much quicker pace compared to manual processes, resulting in significant time savings in terms of turnaround time.
6. Reduced costs: Now, this is a significant advantage of automation. Adopting AI automation results in reduced costs – such as the labor costs associated with manual processes.
How to Implement the AI Solution?
Owing to the number of options available for automation, and the number of advantages that it brings with it, you should definitely consider the implementation. And here is how to proceed with the implementation i.e., generating action items from call transcripts –
But before going ahead with the implementation, it is important that you identify the transcripts, including the format that they will be in. How will you get the transcripts, is it from the customer or will you be generating them yourself? In case, you’re generating them by yourself, you will have to determine the format that is best for your needs.
Once the call transcripts are ready, you should feed the whole thing to the AI solution. Now, as we have already discussed, there are a number of AI solutions available. You will have to conduct thorough market research and opt for the solution that suits you the best. When considering the solution, you should also see if the transcripts are compatible with the solution.
Once you have everything set up, the next step is to get started with the action item list generation. Being an automated solution, AI will take your transcripts and automatically generate a list of action items. The entire process saves time as well as the time that you will otherwise invest in generating the action items manually.
Real World Examples of AI Solution Implementation in Automating Action Item List Generation.
Businesses today are using a variety of AI solutions to automate their menial tasks and to enhance their overall productivity. Generating action items list is one such task. And there are many AI solutions available to accomplish the task, and companies too are using them to accomplish the tasks. Let us now explore some examples of how companies are using this technology –
1. Automating customer service: Companies are using AI solutions to automatically generate action items from call transcripts in order to improve customer service. This allows them to quickly and efficiently resolve customer issues without having to rely on human employees.
2. Enhancing sales productivity: Sales teams are using AI sales solutions to automatically generate action items from call transcripts in order to improve their productivity. This way, it is easier and faster for them to identify and follow up on potential sales leads from time to time.
3. Improving project management: Project managers across several organizations are making the most of automated action item list generation in order to improve the overall efficiency of their work/ projects. Owing to this, it is also very easy for them to identify and resolve issues that may have a negative impact on the undertaken project.
4. Streamlining workflows: Automating the action items list is also an important tool for streamlining workflows. And several organizations are benefiting from it. This way, organizations are turning more productive and have more time to focus on important tasks.
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Challenges and Potential Issues with AI Solutions
Like most new technologies, AI solutions and their implementation too has several challenges associated with it. Here are a few of them –
- Training and tuning: Training is key for an AI solution, else, the solution may not be up to the mark and may also provide below-the-bar results. Considering this, it is very important that the AI is provided with a lot of training regarding context, tone, etc.
- Data quality: For AI-based solutions to be effective, it is very important that they are fed with superior quality data to work with. Quality data means that it is up-to-date, accurate, and complete. And if the data fails to meet the criteria, the outcomes may be less than optimal.
- Complexity: AI-based tools and solutions are still evolving. This brings in a lot of complexity around their usage. Therefore, professionals using them need specialized knowledge and skills. Otherwise, it is quite difficult to benefit from or even work with AI solutions.
Automated Action Items are a great way to improve the efficiency of your organization by saving time and resources. With AI solutions, you can easily generate an action item list from call transcripts using natural language processing algorithms and automated processes.38
The many tools that this advanced technology offers can help streamline your business operations, workflows, reduce errors, and provide you with several valuable insights that will help you be more creative. And finally, the combination of AI and automation can revolutionize your business operations.
Dattatraya Shetty is an IT Professional with 2 Decades of experience in areas of Product Development, Implementation & Service Delivery Management. As the Head of Implementations and SOC Compliance in Smartkarrot he is on a mission to provide relishing customer experience.
Published May 04, 2023, Updated May 22, 2023