There is an interesting anecdote from the Indian epic Mahabharata that holds relevance even in today’s business landscape. Drona, the trainer of the Pandavas and Kauravas in royal manners and warfare, once took all his archery disciples to a ground for target practice and asked each one, “What do you see my boy?”
The answers varied; while some saw a huge Mango tree, others saw its branches, others noticed how the branches were laden with fruits, some even spotted a lone bird on one of the topmost branches. Drona then turned to Arjun, his finest archer in training, and repeated the same question.
“Master, I see not the tree, nor the branch nor the bird…but I see its eyes. If that is the target, all else becomes irrelevant.”
Taken in the business context, this means, that to the serious leader, it is the insights that matter; for on these, he bases his decisions. The rest – the noise, the surroundings, and the clutter are immaterial and can all be put aside.
To some extent, the same conundrum can be noticed in modern businesses, especially when data is generated from myriad sources. Add to it the variety of data that has been gathered, text, images, audio, video, sensor and so on. Extracting actionable intelligence from these massive datasets is analogous to Arjun’s arrow piercing the eye – An art and science enterprises are learning to master today!
The complexity posed by data for enterprises Adding Value to The Volumes of Data
If the better part of the last decade was spent in securing data and collecting it in huge data lakes, today attempts are being made to understand how to decode these data sets. This is where decision support systems driven by Business Intelligence and Advanced Analytics have stepped in to help organizations find patterns and drive more informed decisions. That’s why Data Mining and Business Intelligence gained so much traction in the last decade. But after a point it just wasn’t enough. Firstly, the intelligence generated was available typically to very few in the top echelons. Secondly, all it gave was more visual information, and it took time to decipher insights and thirdly: The lag means delayed action, and that’s lost impact.
The journey of AI has an intriguing history to it right from the inception of the word Artificial Intelligence to its deployment in various forms. Learn more about Digital Transformation at the Intersection of AI and Analytics.
Reimagining Businesses with the Power of AI
With advances in computing and artificial intelligence (AI), businesses woke up to the possibility of recognizing patterns and predicting scenarios in real-time by using self-learning algorithms that can recommend actions on a level of granularity that was never before available. Over the last few years, there has been a paradigm shift in the way Digital Enterprises view, manage and analyze data, and consume insights.
With enterprises looking to get more value from analytics investments and accelerating digital transformation efforts, the potential for AI to make an impact is immense. However, companies must look past the hype and think about building a value-based roadmap tied to business outcomes.
The rise in enterprise AI adoption has opened a world of possibilities; it has not only turned traditional, cumbersome processes on its head but has given rise to entirely new ways of doing business. From drones flying out to survey and photograph an accident site, to claims-fraud detection in banks, or preventive maintenance in machinery to keep the supply chain running, AI has ushered an era of welcome change that allows decisions to be made swiftly and with a lot more accuracy, across the enterprise.
There seem to be three significant ways Digital Enterprises seem to be leveraging AI in their businesses:
- Efficiency – By automating business processes
- Data-driven decisions – Real-time insights at the point of decision making
- Engagement – Engaging better with customers and employees
The eternal quest for RoI has now moved from using analytics tools and techniques to extract insights to deploying AI-powered real-time insight delivery mechanisms to the last mile and building a data-driven enterprise culture. The value paradigm is now moving from Insight to impact.
Using AI to Empower Your Organization
Earlier, insights were accessible only to the top echelon of decision-makers. Cascading insights were cumbersome, and there was very little or no visibility on actions and outcomes. AI delivers real-time visibility of business metrics, real-time decision recommendations, better resource planning, and optimization, and most importantly, better enablement for customers and employees. This democratization of insights reduces lags, improves agility, and drives a progressive data-driven culture across the enterprise.
The Best Time is NOW!
Gartner estimates that by 2020, AI will be a priority for more than 30% of CIOs, but right now, only 37% of organizations are actively looking to define their AI strategies. As with the implementation of any new revolutionary technology, enterprises are skeptical when it comes to realizing their AI roadmap. There is an emergence of a new class of guides to lead you on this roadmap—AI-service providers or AI-consultancies.
BRIDGEi2i has been featured among APAC Region’s leading AI Consultancies by an Independent Research Firm. Read More here.
Customizable to contextual business problems and use cases, AI Consultancies can offer AI-based solutions and pre-built customizable solutions which significantly reduce the time-to-market and also lower the entry barriers for organizations looking to stay ahead of the game. BRIDGEi2i’s proprietary AI Accelerators aim to transform businesses by identifying the key areas of focus – real-time contextual recommendations, real-time visibility of business metrics, automated planning and optimization, and last-mile enablement.
At BRIDGEi2i, we solve some of the most complex business problems through contextual solutions that leverage consulting expertise, advanced data engineering, and proprietary AI accelerators. These solutions address both functional transformation objectives and pan enterprise business outcomes.
We deployed our 360 degree WatchTower Accelerator and helped drastically improve the customer experience of unassisted support channels for a Global Electronics.
Like a Krishna to an Arjun, AI is helping executives build the next generation digital enterprise; smarter, agile, and future proof!