| | November 201819AS AI BECOMES A MORE MAINSTREAM TECHNOLOGY, MANY PROGRESSIVE COMPANIES ARE BEGINNING TO MAKE MAJOR INVESTMENTS IN AI less paperwork and also cuts-down on maintenance. The best part is the fact these Cloud services are also available on a plug-&-play ba-sis, which makes it a more sustain-able and economic option.Even in the very human-orient-ed department of HR, we have seen terrific progress and growth by streamlining processes using tech-nology. While it would take days and weeks to parse through the resumes before even selecting the right ones or scheduling the inter-views, or preparing role sheets and pay rolls, now with technologies like AI, ML, and others, all these can be done in a more systematic and faster manner. Fuelling Productivity & Efficiency Using AIWith the evolution of technology, systems and processes are now faster, more directional and effi-cient. Productivity of teams across processes has been seen to shoot-up higher resulting in a higher profit margin for enterprises. Hu-man errors are minimized with the use of technology in business processes and results are more un-biased and accurate. The work has become way more synchronized, up-to-date and transparent. As AI becomes a more mainstream tech-nology, many progressive compa-nies are beginning to make major investments in AI. As vendors bake AI into existing employee com-munications and teamwork solu-tions, they must also watch-out for areas where AI can improve and increase productivity.The use of AI across functions within an organization is increas-ing overwhelmingly, leading to bottom-line impact. The appli-cations for AI in finance include everything from automated risk management and trading to un-derwriting and claims. Similarly, marketing benefits from chatbots through intelligent customer in-teraction and other AI applica-tions for hyper-personalization and recommendations. Retailers exponentially enhance efficiency with AI-powered robots and drones to run their warehouses and to automatically order stock when inventory runs low. Utilities use AI to forecast electricity demand. Automakers harness the technol-ogy in self-driving cars. AI and other cognitive technologies are also used in healthcare for a more intelligent diagnosis. Adopting Automation to Fuel GrowthEnterprises today are more open and inclined towards automating processes, after overcoming the myths and notions of implement-ing process automation. Apart from saving a whole lot of time and effort, it also allows for for-ward planning. Automating cer-tain mundane processes like bulk emailing (in email marketing), enabling chatbots to answer cus-tomer queries, daily sheets, and others enables organizations to grow faster and helps them com-plete their projects in time with a superior accuracy.There were times when ev-erything was done manually and often had to be redone due to manual errors. This is not only tedious, but also a waste of time. Automating such processes opens more avenues more the employees to exhibit their core competencies in decision-making and planning stages. For example, in the past a recruiter would have to sit and go through 1000s of resumes manual-ly and would often miss-out on key aspects or even never finish with all the resumes on time. Thus, a lot of potential candi-date profiles would end-up in the waste paper basket, without even being evaluated. But now when the process is automated, recruiters can go through 1000s of resumes within minutes and the system would throw-up relevant matches with an authority of accuracy and unbiased result. Doesn't this make the lives of recruiters simpler and happier? Similarly, automating tasks like calls (IVR) and emails also make the job much easier for professionals to focus on complex and strategical issues.Having been associated with companies who have technology as the core of their business, we have witnessed prolific transformations that businesses have seen upon marrying the right technologies to their business at peak hours. And this is not just the case of one or two companies, we have been see-ing such transformations across organizations, even in those who are not heavily tech driven. The new and emerging technologies like AI, ML, automation, analytics, and others are propellers of a high-speed growth at organizations who have adopted them.
< Page 9
| Page 11