ERP Insights >> Magazine >> September - 2019 issue
AI, Big Data and Innovation: The salt of tomorrow's businesses
Author :
Tuesday, May 12, 2020
If you have used Microsoft PowerPoint recently, you must have noticed the new layout feature that arranges objects in a slide to give the message the most impact. Or if you shopped at one of the e-commerce websites, you would have interacted with an e-representative who is always available to resolve your queries and recommend
products based on a choice analysis
from your past purchase. Perhaps, you also realized that this representative was a trained chatbot that can simulate the conversation of a human being to respond and perform a requested action. Such evolution of automation into artifi cial intelligence (AI) is creating opportunities for business growth and fundamentally reinventing how they run, compete and thrive.
Apart from the e-commerce industry, AI has also changed the trajectory of scientifi c research and discovering exoplanets besides enabling new technological milestones. Amid all this, these super intelligent machines are dividing their time between identifying cancerous moles, tackling immigration fraud, aiding refugee management, detecting real-time cyber threat, self-maintaining factories and buildings and cooking creative recipes. This is but the start of an intimate business collaboration between humans and machines.
This capability of AI can be credited to technological advancements that allow easy access to large volumes of data and enable algorithmic programs to understand trends and patterns of customer behavior. Such convergence of AI and big data technologies will accelerate innovation and shape the future of business analytics.
However, the bigger question is how will AI drive this scale of innovation? While AI is not only capable of encouraging cognition and problem solving along, it also has the ability to nurture creativity, assist human intelligence and help businesses increase productivity and profi tability. Eventually, this can generate faster insights by analyzing large, complex data at a speed that is impossible for humans. Add to it autonomous intelligence that scales
expertise and operational excellence
without any human intervention. The true potential of AI and Big Data can easily be understood when one considers its existing applications, such as intelligent agents used in cyber security to detect malware and prevent money laundering. Even insurance companies are automating the claims process and customer service to enhance customer satisfaction. Dozens of companies are conducting trades on Wall Street within nanoseconds. Further, legal fi rms are now bringing onboard robotic lawyers to do the work of paralegals and young associates. Though the evolution of AI is still in its nascent stage, it will soon be the key driver of customer satisfaction and business innovation.
Thanks to AI�s ability of not getting tired, depressed, distracted, being faster, and dealing excellently with big data, AI will ultimately touch upon every facet of busi-
ness and transform them in ways we have not seen since industrial revolution. We just have to wait and watch to-day�s subtle user experience tweak into tomorrow�s full-blown robotic interface.
AI, Big Data and Innovation: The salt of tomorrow's businesses
Author :
Tuesday, May 12, 2020
If you have used Microsoft PowerPoint recently, you must have noticed the new layout feature that arranges objects in a slide to give the message the most impact. Or if you shopped at one of the e-commerce websites, you would have interacted with an e-representative who is always available to resolve your queries and recommend
products based on a choice analysis
from your past purchase. Perhaps, you also realized that this representative was a trained chatbot that can simulate the conversation of a human being to respond and perform a requested action. Such evolution of automation into artifi cial intelligence (AI) is creating opportunities for business growth and fundamentally reinventing how they run, compete and thrive.
Apart from the e-commerce industry, AI has also changed the trajectory of scientifi c research and discovering exoplanets besides enabling new technological milestones. Amid all this, these super intelligent machines are dividing their time between identifying cancerous moles, tackling immigration fraud, aiding refugee management, detecting real-time cyber threat, self-maintaining factories and buildings and cooking creative recipes. This is but the start of an intimate business collaboration between humans and machines.
This capability of AI can be credited to technological advancements that allow easy access to large volumes of data and enable algorithmic programs to understand trends and patterns of customer behavior. Such convergence of AI and big data technologies will accelerate innovation and shape the future of business analytics.
However, the bigger question is how will AI drive this scale of innovation? While AI is not only capable of encouraging cognition and problem solving along, it also has the ability to nurture creativity, assist human intelligence and help businesses increase productivity and profi tability. Eventually, this can generate faster insights by analyzing large, complex data at a speed that is impossible for humans. Add to it autonomous intelligence that scales
expertise and operational excellence
without any human intervention. The true potential of AI and Big Data can easily be understood when one considers its existing applications, such as intelligent agents used in cyber security to detect malware and prevent money laundering. Even insurance companies are automating the claims process and customer service to enhance customer satisfaction. Dozens of companies are conducting trades on Wall Street within nanoseconds. Further, legal fi rms are now bringing onboard robotic lawyers to do the work of paralegals and young associates. Though the evolution of AI is still in its nascent stage, it will soon be the key driver of customer satisfaction and business innovation.
Thanks to AI�s ability of not getting tired, depressed, distracted, being faster, and dealing excellently with big data, AI will ultimately touch upon every facet of busi-
ness and transform them in ways we have not seen since industrial revolution. We just have to wait and watch to-day�s subtle user experience tweak into tomorrow�s full-blown robotic interface.
products based on a choice analysis
from your past purchase. Perhaps, you also realized that this representative was a trained chatbot that can simulate the conversation of a human being to respond and perform a requested action. Such evolution of automation into artifi cial intelligence (AI) is creating opportunities for business growth and fundamentally reinventing how they run, compete and thrive.
Apart from the e-commerce industry, AI has also changed the trajectory of scientifi c research and discovering exoplanets besides enabling new technological milestones. Amid all this, these super intelligent machines are dividing their time between identifying cancerous moles, tackling immigration fraud, aiding refugee management, detecting real-time cyber threat, self-maintaining factories and buildings and cooking creative recipes. This is but the start of an intimate business collaboration between humans and machines.
This capability of AI can be credited to technological advancements that allow easy access to large volumes of data and enable algorithmic programs to understand trends and patterns of customer behavior. Such convergence of AI and big data technologies will accelerate innovation and shape the future of business analytics.
However, the bigger question is how will AI drive this scale of innovation? While AI is not only capable of encouraging cognition and problem solving along, it also has the ability to nurture creativity, assist human intelligence and help businesses increase productivity and profi tability. Eventually, this can generate faster insights by analyzing large, complex data at a speed that is impossible for humans. Add to it autonomous intelligence that scales
expertise and operational excellence
without any human intervention. The true potential of AI and Big Data can easily be understood when one considers its existing applications, such as intelligent agents used in cyber security to detect malware and prevent money laundering. Even insurance companies are automating the claims process and customer service to enhance customer satisfaction. Dozens of companies are conducting trades on Wall Street within nanoseconds. Further, legal fi rms are now bringing onboard robotic lawyers to do the work of paralegals and young associates. Though the evolution of AI is still in its nascent stage, it will soon be the key driver of customer satisfaction and business innovation.
Thanks to AI�s ability of not getting tired, depressed, distracted, being faster, and dealing excellently with big data, AI will ultimately touch upon every facet of busi-
ness and transform them in ways we have not seen since industrial revolution. We just have to wait and watch to-day�s subtle user experience tweak into tomorrow�s full-blown robotic interface.
