AI Technology Is Already Paying off for Early Adopters
Restaurants’ early attempts at using AI are really paying off and feeding excitement about the future. About half of those using those AI-powered chatbots, voice ordering, content generation, and other widely available AI tools say it has improved the guest experience, increased revenue, and streamlined processes. (See Chart 5.) By taking care of more routine tasks like making reservations, answering guests’ questions, and generating things like menu item descriptions, restaurants are making these processes faster and more convenient for everyone.
Those early wins are a big reason more than half of respondents anticipate AI will help them with higher-level innovative and creative tasks. Having a savvy sidekick built into the business software can lead to breakthrough new ideas. It’s no surprise that just over one-third also expect AI to help their business grow, scale, and improve the way they make decisions. In fact, nine in ten go as far as calling generative AI a game changer. (See Chart 6.)
AI for Business: By integrating generative AI into its powerful business software, Square gives sellers a seamless way to automate operations, speed up workflows, and regain time, such as:
Leveraging Square AI-powered starter library to set up and quickly configure items correctly
Generating and sending out team announcements quickly using AI-generated copy
Producing compelling dish descriptions in less time
Having a tool that’s able to learn customers’ spending habits could open up ways for us to understand what ingredients to buy that will sell really well or respond to menu item trends more quickly. We can use the same information to make decisions about our overall hours of operation, which can inform how we staff and other cost-related business decisions.”
These capabilities make nearly all respondents (88% or more) confident that AI-enabled innovation and revenue-building will benefit the business across the board.
