The relevance of AI in Digital Transformation in a post-COVID world
Updated: Oct 7, 2020
Prior to the coronavirus outbreak, the world has been generating tons of data and organisations are employing the use of the cloud to store their information. This data had always shaped how customers expectations and wants were met.
However, right now, the pandemic which has changed human interactions and processes from the conventional ways to something quite new has even instigated many organisations to focus on accelerating their digital transformation strategy.
Organisations which are unable to open their physical offices now have to focus on the integration of digital technologies into all parts of their businesses so as to facilitate internal processes. It has also prompted companies into making the decision of moving their works to the cloud more than they used to. This has even reduced to the barest minimum the reliance on human contact and hardware.
The novel virus has shown reliance on Artificial Intelligence and how to harness the potential of data as well technology to create innovations/works that can improve the lives of their customers, provide them with personalised experiences while also protecting their privacy.
In a nutshell, artificial intelligence would play a bigger role in digital transformation. To better understand this, find below the various roles artificial intelligence will play in the post-COVID world.
1. AI will help organisations better understand their customers
AI will have access to the right data and analytics tools which can greatly improve decision-making. This will also enable organisations to build models with predictive analytics that can test and retest them much faster than a human can. And in the long run, the company will be able to offer a more personalised experience to its customers.
With AI, organisations will better understand the individual preferences of each of their customers. Inevitably, it will guide the companies into making better choices and decisions that would make the digital experience of each customer personal and memorable.
Organisations will also be enabled to better study customer satisfaction, customer loyalty, and customer preferences thereby allowing them to reach new heights in ways of converting their audience into loyal customers. Using the data generated with [AI]'s Artificial Intelligence and its Practical Application (AIPA) -- an AI-powered chatbot that interacts with customers and answers questions -- companies can use natural language processing to improve their customer service.
2. AI will lead to more efficiency in organisations
According to Gartner, operational efficiencies will increase by 25% in organisations that embed their customer engagement platforms with AI. This will revolutionise the customer care service process in the long run.
For instance, Amazon, being no stranger to AI, has taken a giant stride as it's using AI and machine learning to decide when a customer needs to speak with a live agent. Amazon also uses AI to create an impressive customer service experience as customers are able to access various Amazon products and services while getting recommendations that are tailored toward their needs.
Also, because AI has the capability to analyse much more data than a human, it can potentially help streamline and expedite a number of digital processes that would have served as bottlenecks for the organisation. With AI, it will boost efficiency and allow for workers in the company to focus on tougher decision making processes.
3. AI will inspire new innovation and predict what can bring bigger value to the business
A report from Deloitte noted that the future of work is defined by two things: the increasing "adoption of artificial intelligence in the workplace, and the expansion of the workforce to include both on- and off-balance-sheet talent."
Considering that the future of work is based on the backing of AI, undoubtedly, when harnessed it will properly play the role. Using AI, companies can sieve through the tons of data it gets, giving room for innovation in business planning, improving customer service, digital services and so on.
Again, an example is Amazon which uses the flywheel approach to AI to spur innovation and bring bigger value to its businesses. Through this approach, Amazon accelerates innovation in the company as machine learning in one area of the company fuels the efforts of other teams.
Amazon teams now use the technology to drive their products, which impacts innovation throughout the entire organisation. This means that what is created in one part of Amazon acts as a catalyst growth in other areas of the company.
Given that AI tends to learn from existing patterns and data at great speed, it will help greatly in reducing the processes of studying models and platforms in a way that’s impossible when it comes to human-only teams. For example, a data analyst would need a month or two or more to come up with a model whereas all it would take for AI to do the same thing would just be a matter of minutes.
In addition, with our [AI] Platform -- a data management platform (DMP) that's used for collecting and managing data for analysis -- data collation is made easier. The platform is also used to deploy big data analytics and artificial intelligence algorithms to process and find insight from large datasets.
For more information on our [AI] services and how it can be incorporated in your company's processes, kindly click here or send an email to email@example.com