Kyle Clements’ Post

Building next generation equipment rental software | Founder & CEO at Quipli

1mo

Not many topics create as much buzz in 2024 as AI. Hot takes abound. I enjoyed my grounded conversation with Bryan Chappell, CEO of Scout, who is helping companies all over the US incorporate AI into their workflows (Quipli is one of them). While the topic can get heady quickly, I appreciated his thoughts on how rental companies can benefit today in the quickly evolving AI landscape. "One use case today, is that you can turn customer support from a cost center to a profit center. You still keep a 'human in the loop', but AI allows you to give much higher levels of customer support, to a much larger level of customers. This is totally different than we were five years ago with simple AI chat bots. Five years ago we were riding bikes. Now we are driving a Ferrari. With technology today, AI can draft hyper personalized messages using the structured data you have, that ultimately speeds up the response time to customers while simultaneously delivering better service." Listen to the full episode, and all 30+ episodes on Spotify, Apple Music, and Youtube of The Rental Roundtable at https://lnkd.in/ewCCfsAf.

Transcript

If you're a 12510 location equipment rental company and you're just learning about AI today and knowing the difference between machine learning and the large language models. How do I even start thinking about this? I've never used to attribute. I've never even used AI. How do I start moving in this direction to start getting more comfortable with this if we do start to believe that this is the future? Sure, yeah. One kind of simple rule of thumb that I like to use when you're thinking of is like an automation tool. O if there's stuff that's quite. Laborious or annoying or you gotta like crunch a bunch of data in your head. These are always good candidates for for AI. That that shows up in a few places. Business intelligence, content marketing. And so myself, like I always write the the content last because it's like the least favorite thing, you know, in my on my calendar to do. And if you're real busy and you're doing operations and you're doing, you're working with customers and you've got a ton of employees and you got so much to do in a day, like writing a e-mail newsletter is really the the last thing you're going to get to. And what that with this technology chat should be T or the other AI tools, they will at least give you a good draft to start with. You're always. Probably forever, ever. Amen. Want to keep a human in the loop? You'll hear that term a lot. Human in the loop, essentially an editor to review. So it catches, you know, the examples like Kyle mentioned where it kind of gives the answer away or, you know, does something quite silly. And the other one that is very common is customer support and this is traditionally a cost Center for most businesses. But this magical thing happens with this AI where you can turn customer support from a call center to a profit center. And what that looks like is, and we do this with a lot of a lot of great companies. You might have a customer success or customer support person already on the team and what this AI allows them to do is just give much more higher quality support to a much larger number of customers. If that's, you know one under limiting factors. And the way it works is if you have your data structured and well documented, your data, your knowledge base, information about your equipment, information about your rental policies, return policies, all these things. You can have the AI look at that information and answer the customer's question. And this is really been done. You know, you've seen probably bots and milk and some of the stuff I worked on in the past, this is like. Totally different world. You could think of like the the stuff that we were doing, you know, 5-10 years ago is a bicycle and this is a Ferrari. The the answer quality is high. It's able to do the knowledge retrieval accordingly and at a minimum. If you can load all this data and give it to the AI, your customer success person can at least get their answers drafted and it just saves them tons and tons and tons of time because you find that they answer the same questions over.

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