GenAI Use in Business Intelligence

The AI Shift: Redefining Knowledge Work in the Age of Generative AI

Welcome to the 13th?issue of?“Next”?Newsletter.?"Next"?encapsulates my aspiration of?researching and?sharing the vision of what comes after today?in?Business?and in?Technology. This newsletter is a platform where I'll distill my findings and share my insights, drawing upon various topics within business, technology, and digital transformation.

The content?of “Next”?will unfold in a series of articles, each one peeling back the layers of a chosen theme. The current series of articles focus on?“The AI Shift”?affecting the world around us. I will specifically focus on knowledge economy, and?knowledge work, exploring the impact of?Generative Artificial Intelligence?(GenAI) in redefining it. Let us embrace the 'Next'!

In the first twelve issues, we looked into the fundamental definitions of Artificial Intelligence (AI), Machine Learning (ML), Generative AI (GenAI), their differences, the meaning and use of 'Prompts' and 'Generations', some use cases of GenAI, two GenAI models from OpenAI and Google, the application of GenAI in ideation, in creativity and creative thinking, in automating tasks and processes, marketing and sales, software development, as well as business strategy. In this issue,?we will look into use of Generative AI in Business Intelligence.

GenAI in Business Intelligence

In today's fast-paced business environment, effective business intelligence (BI) is crucial for making informed decisions and staying competitive. This is where the power of Generative AI truly shines. GenAI can serve as your data analyst, interpreting vast amounts of data and generating insightful dashboards simply by processing natural language queries. This feature enables businesses to easily access and understand their data without needing to compromise data privacy or requiring advanced technical skills.

Using GenAI in BI allows for a more interactive and intuitive exploration of your company's data. Instead of relying on complicated coding or querying, you can ask questions in plain language, and the AI will generate an analysis. For instance, you could ask, 'What was the sales performance for product X in region Y over the last quarter?' The AI would analyze the available data and provide a detailed report or dashboard reflecting the required information.

Moreover, GenAI in BI facilitates faster decision-making by ensuring critical metrics are readily accessible at every stage of your business operations. This means you can have real-time insights into your company's performance, helping you identify trends, challenges and opportunities promptly and respond more effectively.

One practical example of this is found in tools like Power BI,1 which have incorporated AI insights to enhance data preparation efforts. Power BI's AI Insights offer a range of pre-trained machine learning models, allowing you to further analyze and understand your data. This could mean identifying sales patterns, predicting customer behaviors, or uncovering hidden correlations within your data.

Beyond pre-trained models, platforms like Power BI also offer automated machine learning (AutoML) and cognitive services capabilities. AutoML enables businesses to build custom prediction, classification and regression machine learning models based on their historical data. This allows for predictions on future data, which can be invaluable for planning and strategy.

Meanwhile, cognitive services can perform tasks such as sentiment analysis, keyphrase extraction from unstructured text, and image content tagging. These AI-powered features provide a new level of insight and understanding beyond the reach of traditional BI, allowing businesses to uncover deeper trends and patterns in their data.

In essence, GenAI's application in BI presents immense opportunities for businesses to leverage their data more effectively and make more informed decisions, ultimately driving performance and growth. That is why BI experts should adapt and focus on learning how to get more value from these AI-enabled BI solutions, as the skills to create value from BI tools will shift from being able to work with the queries and structures, to being able to define the best questions (prompts) and visual presentations of data making BI experts more like BI consultants.

Do you want to discus the use cases of GenAI in your business, or your professional domain? Get in touch with me here.

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I have created a comprehensive one-year membership program called "AI Empowerment Mastermind Program" to help advance the potential of individuals through using the power of GenAI tools and solutions such as the ChatGPT and other Generative AI tools aiming for enhancing productivity, success, and innovation in their professional work.

You can find more info about the program here. You can also join my online Community where I share tons of information, insights, and learning material, and get to learn from your peers being part of this community.

The AI Shift: Redefining Knowledge Work in the Age of Generative AI

Transforming Expertise and Employment: Survival Guide for Professionals in the Artificial Intelligence Era

Interested to learn all about (General) Artificial Intelligence and its impact on us as professionals faster? Consider reading my book “The AI Shift”. Available on Amazon as Kindle eBook and as paperback.

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1 Connect to AI Insights in Power BI Desktop - Power BI | Microsoft Learn. (n.d.). Microsoft Website. Retrieved July 14, 2023, from https://learn.microsoft.com/en-us/power-bi/transform-model/desktop-ai-insights