Global shocks and disasters have presented a moment of truth for many enterprises at various times in history. The recent pandemic has forced many companies to adapt to a rapidly changing business landscape and further assess their competitive strategies. Many organizations that have adapted successfully have made bold moves leveraging artificial intelligence (AI) technology, turning challenges into business advantages, and assisting in the global economic recovery.
AI is becoming an essential component for spurring enterprise growth, creating immense value for organizational ecosystems. AI has helped businesses maintain their competitive position in the post-pandemic era as the new operating normal transforms and evolves operations, powering workflows and enabling more efficient processes.
AI as a catalyst
AI analyzes large volumes of data to recognize and learn underlying patterns that enable machines to make complex decisions, predict human behavior, automate processes, and much more. Machine learning-powered systems continuously learn and adapt to situations empowering enterprises to confront and adapt to a changing landscape.
- AI effectively tackles the uncertainties surrounding supply and demand by updating forecasts in real-time, accelerating the decision-making process.
- AI provides real-time value chain optimization by quickly reallocating resources cost-effectively to handle disruptions in supply chains and operations.
- AI efficiently assists a workforce in returning to the workplace. With AI-powered labor allocation analytics, enterprises optimize remote workforce mixes, reallocating staff where suboptimal conditions exist.
- AI ensures scalability and redundancy with minimized costs.
With the Covid crisis disrupting global supply chains, many enterprises have moved value chain redundancy higher on their plans as a means of reducing operational risk. But, redundancy and duplication can translate to high costs. AI provides a mechanism for building resilience into the operations and supply chains, minimizing costs and error rates, providing predictive maintenance, and facilitating improved planning.
AI enables on-demand labor with its ability to provide precise sales and supplier predictions through leveraging predictive analytics. With advanced manufacturing technologies like 3D printing, autonomous robots, etc., AI allows the operation of smaller and more efficient facilities that require fewer workers. Pharmaceutical companies that rely heavily on a traditionally lengthy trial process to develop new drugs significantly accelerate their R&D with AI.
AI detects new consumption patterns and provides hyper-personalization. The unparalleled potential of AI in identifying emerging trends and discovering changes in customer preferences, with its ability to analyze data from a wide variety of sources, helps enterprises improve their customer engagement and sales.
Moving toward an AI-led growth paradigm
AI moves enterprises forward in the post-covid era, which has altered purchasing patterns and radically skewed consumption toward eCommerce. To maximize the potential benefits, consider
- Assessing the traditional and non-traditional sources of data needed to feed the AI ecosystem redefining the boundaries of the business.
- Establishing a foundation of AI enablers by creating AI POCs that yield real business value.
- Quantifying sustainable AI benefits to inform strategies and decisions around automation, return optimization, and cost reduction.
- Implementing and emphasizing ethical, transparent, and responsible AI guidelines and adaptable AI governance.
Even though the recent pandemic has presented significant challenges for businesses in virtually every industrial sector, many companies have addressed these challenges head-on in turning to solutions that incorporate powerful new AI technology. Remote work has become the new normal, as AI implementations generate competitive advantage and companies adapt to change building around operational responsiveness and agility principles.
If you are interested in incorporating AI into your business processes in this new normal, send your query to firstname.lastname@example.org. Intellect Data, Inc. is a software solutions company incorporating data science and artificial intelligence into modern digital products with Intellect develops and implements software, software components, and software as a service (SaaS) for enterprise, desktop, web, mobile, cloud, IoT, wearables, and AR/VR environments. Locate us on the web at www.intellect2.ai.