AI can make your organization stand out by enabling you to create smart, self-evolving business processes, engage customers in new ways and transform data into optimization suggestions and actionable insights.
It is a technology which can perceive, learn, and improve itself with each passing moment, enhancing the capabilities of people and assets alike. According to Deloitte, 65% of companies which have used Artificial Intelligence claim this technology has allowed them to leave their competition behind and stand out in terms of efficiency and operational quality.
This blog takes a look at the state of AI adoption among various organizations, their progress, biggest challenges and most impressive successes so far.
Why companies are choosing AI
The leading benefits of integrating AI-related improvements into ERP systems are myriad and pretty self-explanatory. Intelligent optimization means large amounts of data are constantly being used to fine-tune your operations, predict demand, as well as potential issues and failures.
New-found insights can enable quicker and more practical decision making and allow organizations to stay extremely agile in disruptive times.
Product and service quality are also on the rise thanks to AI and Machine Learning capabilities, as assets now have the abiliy to perceive environments and give information about business processes in real time.
Automation is another benefit created by Artificial Intelligence – it gives your workforce more breathing room and frees up time needed to innovate.
The main concerns and struggles
Even though there is growing AI enthusiasm present among various executives, there is no shortage of concerns regarding implementing it into existing systems.
According to Deloitte, the top three risks related to Artificial Intelligence are cybersecurity, making the wrong strategic decisions based on AI and legal responsibility for actions made by AI systems. It’s apparent that organizations are yet to grasp how exactly they want to use the advantages created by Artificial Intelligence and are concerned about retaining control over new technologies.
Deloitte cites data issues, implementation challenges, and adapting technology to the company’s roles and functions as the top three challenges for existing AI initiatives.
Choosing the right vendor and implementation partner is crucial to overcoming these issues. Read more about Merit Solutions’ approach to technology initiatives here.
Why adopt AI now?
Even though AI isn’t a brand new concept, there have been numerous practical reasons for its absence from the business world. With the emergence of Cloud technology, companies are now able to use virtually unlimited computing and storage power for their AI needs.
What we perceived as huge amounts of data is today much less of a challenge to handle, thanks to the advances of Industry 4.0 and digitalization initiatives. Breakthroughs in AI algorithms have also enabled machines to do things such as detect speech, translate from and into different languages and recognize objects in a matter of seconds.
The manufacturing world, in particular, is quite successful in terms of Artificial Intelligence adoption – according to several studies, the investments required for it are relatively low in initial stages, but yield high returns, empowering employees and assets with untapped data and building a solid foundation for future endeavors.
A growing number of organizations are not only enthusiastic about AI initiatives, but they’re also seeing results from implementing solutions of different sizes and capabilities and looking at how to build on them. Artificial Intelligence is real and it’s here: thanks to growing cloud possibilities, it’s never been easier to explore and improve operations with minimal investment.
Microsoft has announced fresh AI initiatives for 2019, and your organization can achieve growth and innovate using the Microsoft Business Azure Platform and the expertise of Merit Solutions. Visit this page to learn how to become a data-driven organization and optimize your assets through intelligent means.