Find out how AI can boost performance for heavy equipment rental and sales businesses, including key statistics and insights from equipment expert, Ben Cox.
Artificial intelligence (AI) is not just a buzzword. It is a transformative force that is already beginning to reshape the heavy equipment dealer and rental business landscape. To realize the potential of AI in transforming equipment businesses, leaders must learn how to harness its power.
In a recent presentation, Ben Cox, Chief Product Officer at Texada Software, shared with an industry group of equipment dealer and rental business leaders the key principles and strategies for effectively implementing AI in heavy equipment businesses.
Equipment business leaders are discovering how AI can enhance customer experiences, streamline operations, and ultimately drive growth
The Efficiency of AI
A recent study from Harvard Business School examined the use of AI in randomized controlled field experiments with highly skilled professional workers. The results indicated that using AI, consultants reported a 12 percent increase in tasks completed, 25 percent faster job completion, and 40 percent higher quality results.
Similarly, a Boston Consulting Group (BCG) study, showed that businesses can improve both the quality and quantity of their services by using AI tools. These tools, when applied effectively, can help address the challenges that customers face.
For instance, by using AI, equipment businesses can optimize their rates, making their services more attractive to customers.
AI Enhances the Human Performance
Cox emphasizes that AI should be seen as an enabler, not a replacement for human expertise. This principle stresses that the goal is to empower ordinary individuals with extraordinary AI tools, allowing them to excel in their customer interactions.
“What we’re actually trying to do is to take an ordinary human being and give them amazing tools, so that they can be heroes for their customers,” he said.
As the industry continues to embrace AI, businesses have a unique opportunity to improve their services, increase customer satisfaction, and stay competitive in a rapidly evolving landscape.
Next Steps
To learn more about AI strategies for equipment business leaders, download the full Texada white paper Artificial Intelligence (AI) For Heavy Equipment Rental & Sales Businesses Part 1: A Practical Guide for Leaders, featuring three key principles of AI in heavy equipment, five AI use cases, and more presented by Ben Cox and his team.
With these insights and strategies, equipment businesses like yours can look forward to a future where AI isn’t just a buzzword but a driving force behind their success.
July 24, 2024
5 minutes read
