Enterprise AI is a contemporary silver bullet for steady business growth as it uses AI techniques to supercharge digital transformation, improving customer experience & profit-line alike.
“A decision is for an enterprise,
What a container is for water.”
That’s an analogy I randomly came up with while talking about decision intelligence in one of the latest conferences on AI development & its global impact, and I was taken aback to see that the fellow enterprise folks related to it to such an extent that they used this as a conversation starter!
The point of saying this is pretty self explanatory in itself, like a container decides what shape water would take, a decision, no matter at what space - product / service innovation & production, tracking & optimizing the organizational finances & accounting, customer servicing & sales or anything else, shapes the enterprise’s wellbeing. Needless to say, considering how domino-dependent each department within an enterprise is with one another, even the slightest unplanned inclination in one can redirect the other aspects downhill, implying a crisis.
Enterprise AI is the contemporary shortcut to achieve the goal of keeping the enterprise health up and running in the highest probable optimized way through decision intelligence. With a proven, practically bottomless list of benefits, it’s probably a more valid question to ask what AI can not help an enterprise with, rather than asking what it can. However, for starters, if you’re looking for reasons why implementation of AI for enterprises is gaining skyrocketing popularity, is its capability of saving significant bucks off the daily operating expenditure, adding up to efficiency under strikingly less timeline, extracting insights revealing spaces that need extra attention & presenting a 360° view of emerging markets along with an actionable plan to break through the same.
If you are on a mission to technically optimize your day-to-day functioning while safeguarding your enterprise against any unforeseen corporate catastrophes, the content ahead will be your holistic enterprise AI handbook. Stay tuned!
The benefits of AI are broadly known to almost everyone today, but if implementing AI within your enterprise workflow is on your cards, it’s better to start with a comprehensive view of the benefits that enterprise AI brings along particularly to cater to an organization’s needs!
Let’s face it, we are all tired of passing through rounds of “How may I help you?” questions, just to be handed over a 10-digit complaint number and no resolution till even a month sometime. While new acquisitions are important for a business, so is retaining the acquired ones and that’s one of the crucial spaces where AI can be the gamechanger. Today when customer loyalty has become the hotspot for competitive advantage, the businesses are adopting multiple ways to ace it and pretty evidently, the ones supercharged with AI are bearing great results. Here’s a list of ways AI is boosting customer satisfaction for businesses (and you can do it too!) :
Let’s start with a fundamental question - what is the formula to achieve business success? Had it been about 8-10 years back, the answer could have been a diligent & focused workforce paired with efficient management. However, that doesn’t suffice for success anymore, merely supports a business enough to survive. Success today is almost proportional to the pace with which an enterprise adapts to emerging tech advancements. In essence, adapting to technology doesn’t only mean automating the operations, it also means using technology to track end-to-end business processes, so that even the smallest difference from the standard is detected & acted upon immediately. With an AI-driven tracking system implemented across your entire workflow, your enterprise can attain the best of observability & explainability, i.e. detecting what’s going wrong & explaining which factors caused such deviation.
There’s never enough volume of production for a well-rolling business, no matter which industry you think about. Higher production of consistent quality means meeting customer demands head-on & boosting revenue. However, with so many balls up in the air, be it pre or post production formalities, pulling up production volume without compromising on the quality aspect is a nut way too hard to crack! AI assists in this case too, as it enables enormous daily-generated data collection and extract analytics in real-time to amplify production while ensuring the preceding & succeeding operations are rolling fine too. With performance metrics at hand, modifying production operations becomes a data-driven, factual route. From clearing on-the-go manufacturing bottlenecks to closely monitoring scrap rates, sticking to discussed deadlines to strategically stocking raw materials, an AI solution built around your business needs can drastically increase quality, error-free produce the best way possible.
Talent management, the umbrella term for intriguing quality candidates to join the business, training & updating employees’ skills, and satisfying employees across the service period for retention. The entire chain of tasks aimed at talent management is benefitted by implementing AI in the enterprise space in multiple ways, here’s how!
For any enterprise in today’s date, simply ensuring the operations are running well isn’t enough, as growth demands more - to know what the others in the same business are doing, where they are lacking and factors alike. In order to get there, by the time your human resources can only manage to scratch some 5% of the surface, a bespoke AI engine can dig through the roots, retrieving 500X grassroot insights. With such nuanced insights at hand, your enterprise can innovate in spaces where there’s calculated ROI & thus, expand footprints safely yet steadily into the target market.
These days, data is to an enterprise what fuel is to a car - the driving force. Implying access to the crucial business data can cause serious damage to the enterprise wellbeing, both finances & reputation wise. That’s the loophole AI seals with its predictive & analytical solutions that pay close attention to aspects prone to cyber attacks and protect those entry points with relevant security protocol implementation.
While it’s true that the world is being increasingly reliant on AI to strengthen the operational efficiency game & make decisions based on fresh facts, that’s only possible when the implementation goes right! Here goes a list of pitfalls that lie in disguise that hold your AI model back from performing at its functional best and a bonus, how to bypass them in a foolproof way.
Pro Tip : AI is undoubtedly a powerful weapon in the business space today, but let’s face it - it’ll only hit the target solely if it’s operated well! While self-proclaimed AI developers are mushrooming everywhere on the internet today, the trick is to finalize the right vendor from the crowd. At BinaryFolks, we blend in a decade’s experience of launching bespoke AI solutions for companies of all sizes, with deep understanding of industry evolution - so you get your AI expectations built into your enterprise reality.
AI helps an enterprise ease its struggles in almost every departmental operation. Here’s a list of key cases to start with!
Artificial intelligence came into the picture with an objective of making the software scenario "smarter", introducing cognitive capabilities. From data mining to recognizing patterns, from natural language processing. It operates similar to how a normal human brain functions during regular tasks like common-sense reasoning, forming an opinion or social behavior.
The main business advantages of AI over human intelligence are its high scalability, resulting in significant cost savings. Other benefits include AI's consistency and rule-based programs, which eventually reduce errors (both omission and commission), AI's longevity coupled with continuous improvements and its ability to document processes - some of the few reasons why AI is drawing wide interest.
With a constant influx of innovation and development in the AI space, organizations are in a pressing need to handle the AI involvement responsibly while reaping the highest benefits from it. Responsible AI, a governance framework, primarily dictates artificial intelligence implementation in a way that achieves clean results.
MLOps, the buzzword in the enterprise artificial intelligence world, is strengthening the fundamentals for businesses across all verticals. ML unleashes business opportunities on the go by modifying workflows to hit higher efficiency, using real-time insights & data analytics for factual decision-making, and thus, creating immersive customer experience.
In essence, integration of MLOps plays an integral role in business for individuals, startups and enterprises to achieve the core goals. Evident reason for the skyrocketing adoption, right?
Reportedly, 69% shoppers stated that they're up for using brands that makes their overall shopping experience personalized and intuitive, in short, more in-line with their needs. The contemporary AI-powered bots take that particular wish as the command and elevate personalization to a whole different level. These AI marketing tools enable the brands to get the pulse of the customers by closely analyzing user behavior & purchase patterns. In turn, it offers customized product searches, intention-oriented product recommendations, compelling push notifications etc.
Federated or collaborative learning is a machine learning technique which is rapidly gaining popularity due to its ability to significantly improve data security. Primarily, it trains a specific algorithm over several independent sessions using individual, local datasets, yielding quality predictions in real-time. With its diverse dataset involvement, time effectiveness and security benefits, businesses are sure to continue investment on this in the years to come.
Talking about enterprise artificial intelligence solutions, keeping the ML models’ health on-point is just as important as implementing ML pipeline. So, businesses are inclining towards setting up a system that runs a consistent check on the models in production & identifies the root cause of model performance degradation & drift in real-time. This way, the company offerings are not compromised, implying a steady growth.
Among the rampant AI adoption wave, the question that’s often popping off the surface is, what does the future forecast look like for AI in the enterprise space?
The functionality of AI, no matter for which industry, is controlled by a number of external variables and multi-faceted factors, which has further dependence on data types opted for training purposes. That means the data related parameters, like how much relevant data is available, how affordable it is, the ease of accessing such data, the bias percentage in that data etc. have a big say over the rate of global AI growth.
For AI to grow uninterrupted, there’s also a major need for the businesses to consistently stay on top of infrastructure upgrades, as evidently, to make the most of a mansion you can not stick to mere single-storey building grade maintenance measures!
So, with the required digital support in place, the influx of AI innovations is only a matter of time, that’ll address the ever-evolving enterprise needs on-the-go. Implying, the future of enterprise artificial intelligence broadly holds more improved real-time data updation methods, on-point information gathering, and prudent decision intelligence.
At BinaryFolks the extensive AI experience of the core AI developers team meets the seasoned veteran consultants’ industry understanding. As a result, partnering with us, you build a foolproof artificial intelligence enterprise software solution that solely aims to supercharge your enterprise workflow, significantly adding up to operational efficiency & visibly improving the bottom line. Are you ready to welcome :
And, a profitline thicker than ever? Get started with a power packed step 1, that comes complimentary!
What you read above is a calculated amalgamation of a decade’s experience as a company building artificial intelligence solutions, industry understanding of our core team of consultants and top trends of the hour. However, I understand that’s a big bite to manage, so there's a shortcut too!