On Tuesday, CNBC’s Jim Cramer discussed the transformative potential of artificial intelligence in the business world, emphasizing its value in enhancing customer service across various industries.
“It has time for you, acknowledges you, and is polite. With a vast database at its disposal, it can almost always answer common questions,” he explained. “AI is an ideal solution for customer interactions, especially compared to human agents who may struggle with clarity, patience, and fatigue.”
Cramer noted that despite the excitement surrounding AI on Wall Street, tangible benefits in real-world applications have yet to materialize. For many companies, investing in AI has become essential to remain competitive, though this has not yet resulted in significant returns—aside from benefiting hardware manufacturers. He pointed out that many CEOs he speaks with often present AI strategies that seem generic, but he emphasizes that AI itself is not a strategy or a product.
Instead, Cramer highlighted AI’s ability to streamline processes for both enterprise and consumer customers, ultimately providing “something better than what we have” while reducing the need for a larger workforce. He illustrated how AI could revolutionize workflows in sectors like retail, food service, law, and healthcare. For instance, AI could assist doctors by answering patient inquiries, allowing them to focus on more critical tasks, or help baristas process coffee orders more quickly and efficiently.
“AI accelerates everything and brings rationality to processes,” Cramer concluded. “It can even enable machines to mimic human behavior.”
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