Like the cloud, the hype around artificial intelligence cannot be avoided or ignored. However, like cloud computing, the benefits of AI may not be immediately obvious.
AI is much more than a clever way to create and condense text or to generate passable artwork. The technology really does have some genuine practical applications for your business.
Automate everything
Manual tasks have two problems. First, they tend to be boring and loathed by employees. Second, they can be forgotten, overlooked or performed incorrectly, causing linked processes to fail too.
By leveraging AI-powered process automation, businesses can streamline their operations, reduce errors, and minimise the risk of fraud. Digital data can achieve this in areas such as invoice processing, ledger entry management, ordering, billing, and shipping and receiving.
Instant insights
Does your business employ a team of data scientists to uncover insights and trends hidden in your datasets? No? You’re not alone – these skills are both rare and expensive.
AI-driven data analysis provides a powerful alternative, delivering rich insights and actionable recommendations automatically. AI rapidly identifies trends and patterns in real-time, so your business can capitalise on opportunities and make informed decisions about logistics, sales management, technical operations, and more. AI analyses a wide array of internal and external data sources, from across your estate.
Self-service solutions
What happens when your subject matter expert is unavailable? Who can answer important customer questions or solve operational challenges? AI can.
AI can help employees and customers solve their problems, find answers to complex questions, and summarise complex data using intuitive self-service systems. This allows your business to improve response times, satisfaction rates, and overall customer experience.
AI also can achieve the holy grail of truly personalised experiences for customers and prospects. With hyper-personalised sales and marketing, you can craft unique messaging that resonates with individual users, leading to increased buyer engagement, and interest in products and services, to drive sales and profitability.
Grow my business
Sometimes businesses get stuck in a rut, unable to change because ‘that’s the way we’ve always done it’. Being too close to processes may render decision-makers unable to see problems or identify solutions.
Artificial intelligence does not have these blind spots, leveraging deep analytics to suggest entirely new revenue streams and reimagine operations. AI-driven innovation can point your business in new directions, identify new markets and potentially improve products and services to increase revenue and market share.
What about ‘quick wins’?
Deploying AI effectively takes time. This is not yet a plug-and-play technology. However, there are some quick wins your business can leverage right now:
Use the built-in AI
Many business applications already have AI capabilities built-in – are you using them? Oracle tools already have AI functionality in their ERP, HR, CRM, and supply chain management applications for instance. Using these features will help to streamline operations and reduce human error immediately.
Make your data available to LLMs
AI must be trained on your data before it can deliver meaningful insights. Carrying out the necessary configuration and definition work to make all of your data searchable will pay dividends once you begin using AI in anger. You may also find it allows you to extract additional value from your data using existing tools (see above).
The reality is that AI is here – and it’s here to stay. Your business must act now to take advantage of the technology or risk losing ground to better-prepared competitors.
So why wait? Start exploring the benefits of Artificial Intelligence (AI) today and discover how this powerful technology can transform your business for good. And if you need any help or guidance, the WTL team is ready and waiting to assist call.