This is a question that is of increasing importance to many businesses today. The advent of cloud computing has made high-performance computing readily available. Prior to the renaissance of AI, companies relied on stale and incomplete data, which could be costly or even impossible to maintain. However, with the availability of commodity compute power in the cloud, companies can now quickly create and deploy these powerful AI systems.
AI can improve workflows and analyze data in real-time. By creating tools that allow users to ask questions with the help of digital assistants, executives will be able to interact with customers and employees more easily. These tools will also be easier to understand, with the ability to type plain text queries into search bars. In addition to executives, business users will be able to use these tools to understand their company’s performance better.
While many firms focus on adding staff, AI can improve efficiency without adding employees. Similarly, digitized payroll can help businesses forecast future costs and hire more predictably, as well as streamline accounting tasks. While AI isn’t capable of doing everything, it can help companies reduce costs while increasing productivity. This article discusses how AI can improve productivity in various business areas. The Eckerson Group interviewed dozens of industry experts and viewed at least a dozen demos of BI tools with AI capabilities. Following are some of the advantages of AI-powered Business Intelligence:
1) Simplify Business Intelligence (BI)
With this data, AI can make the best decisions. In the past, marketing was more of an art than a science. With the help of artificial intelligence, companies can analyze customer behavior and recommend relevant products based on their needs. With self-service BI, business users could easily access analytics. This new technology is a game-changer, as it can simplify the complicated process of business intelligence and make it easier to use.
2) Improve the quality of BI
By employing deep learning-enabled software and automating routine tasks, AI can improve the quality of BI. It can also speed up the process. For example, AI can be used to interpret and evaluate data. The technology is being developed and used in numerous industries and is increasingly becoming a viable option for data scientists. It can also help organizations with a lack of resources. As a result, AI can enhance business intelligence. With its advanced capabilities, it can transform many areas of an organization.
3) Boost productivity to a great extent
Using computer vision systems for business purposes can improve productivity, improve efficiency, and reduce costs. They can identify objects and people without human intervention, which can lead to increased revenue and customer satisfaction. Besides helping companies reduce costs, AI can also improve productivity and efficiency, and it can increase revenues, simplify processes, and create new business models. If you can use AI effectively, it can lead to fundamentally transforming business operations.
4) Make accurate predictions
Business Intelligence applications that are backed by AI are pretty apparent. Among them is its ability to make accurate predictions and predict possible future outcomes. Moreover, AI can be used for both long-term and short-term decision-making. It can help determine the best course of action in the most efficient manner. It can also help in improving the quality of decisions. It is important to remember that humans and AI are two different things. Whether it is a good thing or a bad one, human-driven data can lead to poor results.
5) Serve customers better
With the introduction of AI-powered BI technologies, organizations can tackle more data and improve productivity. For example, AI-powered BI tools can make it more user-friendly, which in turn increases customer engagement. In addition, they can even be tailored to the preferences of users. For example, a person may want to speak to a robot, which can improve their work quality. When a human is speaking, an automated assistant will recognize the meaning of the words and phrases in the text.
The benefits of AI to BI systems are clear. By automating business processes, AI can improve the value of insights and results. By making better decisions, AI can improve BI effectiveness. It allows humans to focus on value-added activities like hiring and onboarding. The results of this innovation are measurable. It can also save time, money, and effort. Ultimately, this technology will improve BI.
ONPASSIVE takes the lead in developing innovative business solutions that are backed by technologies like AI and ML. From small, mid-size to enterprise-level, ONPASSIVE serves businesses with different needs.