July 30, 2019

Artificial Intelligence

The age we’re living in is not the same anymore to what our parents or grandparents had. In our world, humans and technology have adapted and learned to walk hand-in-hand across everything we do, no matter how big or small it may be.

Artificial Intelligence is one such technology. If you asked someone what they thought about AI a few years ago, there are very high chances that they would describe an image of robots ruling men in a scary, dystopian world. But that was all just a lack of familiarity. Now, AI and machine learning have become a common phenomenon.

Especially for businesses, artificial intelligence has opened up a door to achieve levels of productivity and efficiency that have been unheard of in the past! It has the ability to help businesses streamline their day-to-day operations as well as their long-term action plans in a way that will bring in the most revenue with the least hassle.

For instance, in an ecommerce business, every order goes through a long cycle to reach the buyer. It starts with the order being registered on their platform. It gets conveyed to the seller who has to check their inventory and confirm availability. The product is then packed, shipped, and delivered to the customer. Sounds pretty straightforward, right? Well, not really. Even this simple cycle has great room for error. Things like loss of data, miscommunication between the people involved, delays in completion of a certain task or even the loss/damaging of product during transport are all examples of what could go wrong, resulting in not just the potential loss of a sale, but also loss of customer trust and reputation in the market. This is a relatively nightmarish scenario for any business, regardless of what they sell.

With the integration of AI and automation in this particular scenario, a lot of the chances of error could be removed altogether. A simple system that connects every touchpoint included on a single collaborative platform would work wonders in this case. The seller will instantly know that the order is placed and if it’s available in the inventory. Shipments and deliveries can be tracked in real-time. Everyone will know the status of the order at all times, thus ensuring timely delivery and a more-than-great customer review!

This is just one of the hundreds of thousands of use-cases that AI poses for small, medium and large businesses everywhere. A truly AI-fueled organization can fundamentally transform the way humans and machines interact within working environments. No matter which industry they belong to, from manufacturing, retail, automobile, energy, utility, pharma to travel, education, hospitality, healthcare, lifestyle and everything in between, their employees can deploy machine learning and other cognitive tools across every core business process and enterprise operation with the aim to support data-driven decision-making at every step they take.

At its core, AI is very simple. It just takes a piece of data provided to it, understands it like human intelligence would and takes an action it deems fit. But this very process is one of the most useful qualities for corporates. It can help organizations efficiently manage their social media channels; organize the processing of all their bills, accounts, payments and budgets; it makes human resource management systematic to keep employees and managers happy; client, vendor and internal communications can become seamless; a channel can be created within various marketing mediums to maintain brand consistency; customer queries and support can be automated with the use of chatbots; the list could go on and on and on. The base process, however remains the same, i.e., organization of data! What this means is that artificial intelligence can sort through millions and millions of data points collected from a number of sources including past records, research, web, mobile apps, directories, feedbacks etc. and pick out significant patterns and algorithms within them. These findings provide valuable insights on how and what actions are needed for smooth business growth. AI based solutions and softwares feed these insights within their systems so as to perform meaningful tasks on a daily basis. In today’s world, data is the biggest asset. Only the businesses who leverage the power of big data can survive against the competition. And AI is the way this can be achieved as it can predict outcomes based on data analysis.

And its not like AI is extremely hard to implement within any business. No two companies adopt a technology trend in the same way. Every organization has its own goals, strengths, and weaknesses to ponder before it embarks on its own transformation journey. But once they know the challenges they need to solve, all that’s needed is an individual or team that understands the fundamentals of how machine learning works and have the technical skills to plan, curate and develop effective solutions based on AI basics that are customized to a business’ needs. These solutions can be integrated with legacy processes and a majority of third-party applications, ensuring that the business doesn’t deviates from what it truly is. A trusted partner in this regard is Godzin where you get AI consulting and custom-solutions all in one place!

Certainly, AI and Machine Learning are relatively new technologies, and there is some apprehension about adopting something brand new and still evolving. But the benefits are real, and the future requires personal biases to be put aside.

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