To be sure, the debate around “whether artificial intelligence (AI)-driven technology will make humans redundant” has been properly settled, at least in this audience. This opened up a series of exciting exchanges of ideas and concepts to take advantage of the potential of artificial intelligence-driven digital transformation and achieve commercial success. Today, companies from traditional industries and emerging industries are describing their aspirations for digital transformation. Although the goal of this transition predates the pandemic, the past 15 months have undoubtedly accelerated the process. However, the seeds of this revolution were sown at the turn of the century.
The early signs
As a basic example, and the bustling start-up sector provides startling data showing that the time it takes for start-ups to reach the desirable unicorn status is decreasing year by year. Naukri.com (1997) took 16 years, Flipkart (2007) took less than 9 years, and Oyo (2013) took less than 6 years. Let me make a bold guess as to how the new company can achieve the same results faster-using a series of powerful technical tools to help them achieve more goals with fewer resources.
Let data work for you
Today, companies and leaders operate in a highly competitive market and must make decisions at an extremely fast speed. The early adoption of smart technologies such as artificial intelligence is believed to enable companies to achieve digital transformation in these rapidly evolving business environments.
Data is the new oil, constantly cut. However, unstructured, fragmented, and incomprehensible data in the hands of data analysts is as effective as giving bark to a printer. If simple algorithms place data on a pre-designed standard format, making it easier to read, understand, deconstruct, and draw conclusions, then the analyst’s time and energy may be spent wisely. Although the business world seems to attach great importance to data collection, the use of tools for analysis is extremely rare. Data collation matrices such as the customer management system, the World Wide Web, and social media provide ample room for the development of powerful predictive analysis models that can help enhance the customer experience, no matter which industry the customer operates in.
So the pressing question that still exists is how can we best use technology to create value for stakeholders in this highly competitive and dynamic environment-how do we build humane solutions in the digital world?
Customer experience, company culture, business processes, and product innovation continue to receive attention, and artificial intelligence is assisting this transformation. Media, retail, technology, automobiles, power generation-some industries that are leveraging the power of digital transformation.
First of all, artificial intelligence has even changed the way we host meetings online. Automated scheduling, facial recognition, phone transcription and other tools make redundant daily tasks take up personal time. Technology can not only complete tasks faster, but also work uninterrupted 24 hours a day. Therefore, in various fields, artificial intelligence is automating daily cognitive tasks.
The media industry has benefited from this, such as automatically generated sales reports, customized social media chat reports for brands, understanding consumer conversations or feedback, event performance, etc. On the other hand, in the education sector, it helps solve other aspects such as the time-consuming grading process and purely data-based performance comparison. Compared with pure statistical methods, cognitive technologies including artificial intelligence, machine learning (ML) and natural language processing (NLP) have dual advantages-one is that the compilation process is not biased, and the other is that learning is performed through each user interaction And improvement. It transforms random unstructured data into a well-thought-out, planned and well-planned database, which can be used according to needs.
Content customization is another key advantage of integrating artificial intelligence into business process technology. Whether it’s the social media pages or news sites we quote, they will adjust themselves to throw out the content we participate most often. Metadata tagging achieves this in the media space. Similarly, the education department achieves this through a well-designed algorithm that measures our proficiency based on our past answers and asks questions or information to make the product compatible with users.
Automating management tasks is another great benefit of integrating artificial intelligence into business processes. Staying in the education sector, “teacher participation in non-teaching activities and its impact on education”, a 2018 report by the National Institute of Education and Administration (NUEPA) emphasized that government teachers in the country only spent 19.1% of their teaching The rest of the time is allocated between non-teaching core activities, non-teaching school-related activities and other departmental activities. By deploying the right technical tools, this dichotomy can be easily resolved. The deployment of artificial intelligence in online learning does not replace our teachers; it will only help teachers measure the understanding and gap with each student. This allows customized lesson plans and courses to be designed according to each student’s abilities.
The experience gained from the industry has led to the recently launched Advanced Digital Transformation Program (ADTP) program, which is jointly planned by Results & Outcomes and MICA and is aimed at professionals in the M&E industry. The evolving demand for digital transformation is rethinking the marketing strategy, data analysis and customer relationship management between brands and companies. This course is created and taught by experienced industry professionals. It aims to provide professionals with a smooth transition, giving them the skills and practical knowledge needed to ensure that they thrive in this digitally transformed world.
Data ignites business, just like oil
In an era when we find ourselves placing great emphasis on accuracy and speed-there is no room for negotiation between the two. In order to facilitate this transformation, it seems inevitable to break new ground through the use of smart technology.
Simplify complex business processes, improve the intelligence of customer behavior trends, increase customer engagement through tools including gamification and virtual reality, continuous back-end product inspection and maintenance-these are just the smooth operation of smart technology and the release of valuable human resources Part of the task time and thinking space to perform complex analysis tasks, such as brainstorming, research and innovation.
Although technologies equipped with artificial intelligence, such as apps and chatbots, have been questioned, their role as an enabler of digital transformation is accepted. Before closing, what I want to leave for you is to invest wisely in a reliable data strategy. Without a clearly defined data strategy, thinking about artificial intelligence is meaningless.