Driving the Future of Business Intelligence: AI

Our ecosystem of technology undergoes change rather frequently, with rapid breakthroughs and ideas falling into place on an almost regular basis. Among a few of those buzzwords, artificial intelligence, or what’s more popularly known as AI, appears to have stepped out of science fiction more eagerly than the rest. For example, AI finds prominent presence within the spheres of task automation, facial and voice recognition, digital assistants, and more.

In fact, according to Gartner’s latest Hype Cycle, democratized AI ranks amongst the most disruptive of technologies due to its availability through the open source, cloud computing, and the maker community. For the uninitiated, the maker culture fosters a community of data scientists, developers, and AI architects, among many others, for the sake of inspiring and creating new AI-related solutions. Simply put, there’s a lot of buzz, and early adopters are bound to benefit from the technology’s fluid form of continuous evolution.

But fantastic science-fiction aside, AI is also able to make a significant difference on a more basic level – by democratizing data and augmenting the adoption of analytics. As an aside, it’s important to also focus on how advances in predictive modelling analytical tools. This implies that with proper implementation, AI can empower the generation of next generation, machine learning, computing power, and AI opened the door for several actionable insights from complex sets of data, recommending them as and when they are needed the most with little to no effort from the user.

Bridging the Gap for Any Business User

People often associate niche technologies with incredibly niche job roles. But AI advancement ensures that the analysis of massive quantities of data breaks down into something easily consumed. In other words, it makes insights – derivative. While data scientists hold the ability to derive value from the data itself, AI helps bridge the gap by delivering insights in a digestible manner to the average user.independency of analytics and big data – accessible and available to the average user. Does this make the job of data scientists obsolete? No, not really; but it does offer us a certain degree of independency. While data scientists hold the ability to derive value from the data itself, AI helps bridge the gap by delivering insights in a digestible manner to the average user.

It’s the next step for any organization currently investing in tools that mandate an employee’s involvement to spend time and effort in analyzing data and in taking or making decisions. In fact, the needle to market dominance appears to be controlled by those businesses investing in next-generation systems that automate low-cognitive processes, allowing their talent to realign focus on strategic problem-solving.

Artificial Intelligence continues to improve on identifying trends and deriving insights from complex data, competing and extracting better results than their human counterparts, and at a faster pace. These abilities are only set to improve with time.

AI Makes Your Data Relevant

Data collection is something that most organizations currently explore as an option. But as the saying goes with data, it’s meaningless without any form of derivative insights. With AI, you’re given an opportunity to understand and receive recommendations from collected data, lending to a competitive edge. Compare this chance against competitors falling behind on the trend, all of whom are likely to be stuck manually sifting through mountains of data.

By accessing the power of AI, your organization stands in a position to harness the full potential of data collection, identify trends within your industry, build recommendations based on said trends, and later deliver context-driven information to end users on a case-by-case basis. In a nutshell, AI ensures that your data becomes relevant.

Challenges Associated with the Move

Most forms of technologies come with their own set of issues. It’s important to consider them, when it involves artificial intelligence, perhaps more than other forms of technologies. Automation allows you to shed redundant tasks and make mechanical tasks easier and efficient; at the same time, you also negate human involvement to a certain degree.

Some of the limitations around AI is with security and bias from learning patterns. But never forget that the potential benefits from the technology borders on being limitless.

Human friction is also another challenge to consider. People becoming comfortable with pre-existing processes might hinder the implementation of AI in an organization. It’s important to overcome that friction and allow your organization the chance to stand apart from its competitors. If it’s about business processes, AI stands to help.

Conclusion

AI is a powerful technology, something that would have probably been scoffed aside as a tale for land while eliminating those slow on the uptake. Nonetheless, the technology is here to stay.adopters, of movies or fiction. But it is here, and its impact is very real. It might dictate growth for adopters, while eliminating those slow on the uptake. Nonetheless, the technology is here to stay.

In conclusion, it’s important to understand that AI opens doors to new job roles and job vacancies; it’s still an augmentative technology. It removes redundancies. And this allows for a world of opportunities, cross-skilling, up-skilling, and more. It’s time to pay attention. It’s time to adopt. Do not miss the gravy train.

blog by Siby Vadakekkara

Siby Vadakekkara is the founder, Chairman and CEO of Marlabs, a NextGen Digital Technology Solutions company based out of New Jersey. Siby’s vision and leadership led Marlabs to grow into a 120 million organization in a short span of time. Siby is Ernst & Young Entrepreneur of the Year finalist for three times and also the sole inductee in the Inc. 500 Hall of Fame for making it to the Inc. 500 list of the fastest growing private companies in the US.

Siby is also recognized as an outstanding entrepreneur by GOPIO (Global Organization of People of Indian Origin) of central NJ. He is also ranked among outstanding 50 Asian Americans in business along with the “Best Boss” award from Fortune Small Business Magazine(FSB). Siby is a member of Young Presidents Organization (YPO) and a Charter Member of the Indus Entrepreneurs (TiE). He is a mentor and digital advisor for Columbia’s executive master’s program in technology management.