Artificial intelligence has been working its way up through the business world for a decade and has caught the attention of top executives from around the world. Business leaders have come to the realization that AI improves business intelligence. As a result, it has become a requirement for businesses to stay competitive.
Some more recent AI capabilities were seen as pure fiction in the past. Facial recognition applications look like they come from an old science fiction movie. Medical diagnosis machines look like something out of Star Trek.
The AI Hype Train
Artificial intelligence is one of the most criticized and over-hyped technologies today. Everyone seems to have an opinion on it, but in reality, most people have only a vague idea of what it is. So let’s take a closer look at the areas where AI is having the greatest impact.
Conversational AI is the most commonly known form being used right now. It has been made popular by applications like Amazon’s Alexa and Apple’s Siri. We can also see conversational versions of AI being used as chatbots on multiple websites.
Machine learning is a form of AI used in business, so it’s not as well-known of technology to the common person. It uses tools to automatically filter and distribute data throughout a business. This software will use advanced algorithms to identify and learn data patterns, thus giving it the ability to go through large amounts of data to pull only relevant information.
Compute infrastructure is being used to move AI forward into the coming decade. We see GPU and FPGA accelerators serving as the backbone hardware for artificial intelligence systems. Businesses will need to adapt the proper physical technology into their applications to make sure they are getting the most out of their AI systems.
AI is going to play a huge role in all businesses once 2020 rolls around. With so many new forms of technology expected to hit the market, users are going to be transmitting more data than ever to businesses. Traditional systems will not be prepared to meet this demand.
Artificial Intelligence to Play a Prominent Role in Business Intelligence
Business intelligence systems that are powered by AI are game-changers. They can transform big data into simple, more accurate visual reports that are shown only to team members who need them. There is no reason for departments to funnel through unrelated reports to get the data they need when AI can provide it automatically. Here are some of the ways that AI improves business intelligence.
- Avoid Data Overload: Since data continues to grow at an exponential rate, businesses are starting to experience bottlenecks in their systems. Using AI-powered technology helps keep these processes unclogged by breaking down large chunks of data into smaller, more focused insights.
- Shortage of Data Experts: There is a significant shortage of skilled data professionals in the United States. So most companies do not have access to data experts who can make decisions based on data. However, skilled teams like the Research Optimus team can be brought in to equip your business with AI systems that provide anyone, regardless of their skill level, the ability to see data in a way that makes sense to them.
- Dashboards are Being Replaced: Dashboards are a relic of the past. When data is rolling in from all different directions, dashboards create a nightmare for leaders who need information right now. AI-powered tools help your system digest and deliver this same data in a visual, easier to understand format.
- AI Delivers Insights in Real-Time: As we’ve seen, data is cluttering up older systems and wreaking havoc on businesses. AI tools create order in an otherwise chaotic environment by providing real-time insights into valuable trends and other factors used with strategic decisions.
Artificial Intelligence Paves the Way for Everyone
We no longer have to depend on hiring data scientists for everyday operations. AI improves business intelligence by creating a system that anyone can use, regardless of skill level. Sure, you might have to bring in an outside company like the Research Optimus team to help with the initial setup. But once that’s done, anyone can make sense of the data.
Poor data literacy is a struggle for most small businesses right now and is probably the biggest hurdle that they have to overcome. AI systems can be used in unison with business intelligence to provide information that can be acted on by all leaders within a company.
AI Improves Business Intelligence by Allowing you to Use Data Effectively
Artificial intelligence systems enable businesses to use data that is being collected in real-time so that they can act more quickly than their competitors. Today, we see trends rise and fall in a single day so businesses that have access to AI will have a much higher chance of tapping into these trends as they happen.
Competitors that are not using adequate data management systems are going to struggle to stay caught up with you. They’ll eventually get lost under a mountain of data. It’s surprising at how many businesses are still resistant to AI technology.
AI Integrated BI Software
Artificial intelligence has changed the way that we work with data. It will continue to force workplaces to evolve. Resistance will be met with failure shortly and only businesses who have adapted to business intelligence are going to be left standing.
We have access to AI-powered systems that automatically scan through information and then present it to the proper employees in the appropriate format. So, leaders have the information to make fast decisions, and team member has what they need to do their job efficiently. Everyone in the company wins!
The Future is Now!
Artificial intelligence is not some future trend that we’re predicting. It’s here now so businesses must start using it as the foundation of their future success. Brands that still refuse to use machine learning to keep their data in order are not going to survive far into the 2020’s.