Data Analytics in Business
Data Analytics is the Future of Businesses
October 8, 2020

The Changing Face of Operations Management – AI is the future

AI in Future of Operations Management

The modern world – the era of smart robots; the prevalence of virtual assistants; the conceptualization of self-driving cars.

Over the past two decades, researchers have been putting in all their efforts to test the potential of AI in the world, and the results are phenomenal. The extensive automation in various industries, aggressive research on soft robotics and humanoids, smart home systems powered by Amazon’s Alexa and Apple’s Siri, the world of today is under the strong influence of Artificial Intelligence. The impact of AI on this world is somewhat transformational.

An American inventor and futurist, Ray Kurzweil once stated, “Artificial intelligence will reach human levels by around 2029. Follow that out further to, say, 2045; we will have multiplied the intelligence, the human biological machine intelligence of our civilization a billion-fold.” From the automotive sector to the household appliances and from the manufacturing industry to the business environment, AI has revolutionized the way the world functions, and this is just the start.

The form of technology is changing the way people live, and it is building the grounds for entrepreneurs to manage business operations better. It is a part of the technology that is on its way to change the face of how businesses function.

Understanding the Enterprise Cognitive Computing (ECC)

Enterprise Cognitive Computing, popularly known as ECC, combines AI with neural networking, machine learning, sentiment analysis, natural language processing, and contextual awareness. It is a system that processes with at-scale learning, purposeful reasoning, and natural form of interaction with humans.

It is one of the most effective products of AI that is helping businesses optimize their operations by maximizing productivity and reducing the efforts invested. The system is designed to imitate the human thinking process after learning it through interaction with humans. The best thing is that this system keeps the humans in the picture at all times.

The system holds the potential to automate the repetitive tasks, all while aiding the improvement of information analysis and accuracy of results.

Harnessing the Power of Data Science

Data Scientists play a critical role in optimizing business operations as they efficiently process data, the biggest asset for every company. From the collection of relevant data to its analysis, these individuals help a business grown through strategies backed by data. An ECC can help in harnessing the power of data science up to perfection.

Turning Business Operations into Leaner and Efficient Processes

Another way AI is helping streamlines business operations through ECC is an efficient analysis of market trends, business patterns while spotting growth opportunities. The technology allows real-time processing of critical issues that become a hurdle between a company’s performance. The implementation of systems takes businesses towards reduced risks and processes aligned with the changing landscapes.

Enhancing Customer Interaction

An important aspect of business operations is customer service and interaction of the company with them. AI works to improve this area of business operations as well. Robotic process automation is changing the game as this system works to provide contextual information, just like the company’s staff. It considerably improves customer satisfaction.

It is true, AI is the future of businesses, and it is changing the face of operations management for businesses. Scotland’s Cora- Intelligent Agent, Welltok’sHealthcare Concierge, Edge up’s Smart Tool, and several other AI-powered systems prove that this technology is revolutionizing operations management, taking businesses towards improved productivity and enhanced efficiency.

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