The modern business environment exists on a playing field of new technology. At the heart of the competition happening here is workflow automation with AI. The domain of AI is broad, but there are a number of specific ways it’s transforming businesses. The top banks now offer sophisticated customer service apps, healthcare companies are using business intelligence in the form of aggregate health metrics to make decisions, and car companies are continuing their industry-wide shift to autonomous cars.
Ramp-up Productivity and Profitability with AI
Deploying AI in workplaces has numerous benefits including cutting costs by automating workflows, processing data for business intelligence (BI), and keeping IP more secure with enhanced security. While mostly positive, these changes are also disruptive, resulting in a complex operating environment for businesses. This can lead to uncertainty as to which technologies to invest in and implement—and when. Since sweeping changes are not generally made all at once, companies consider the strategic value of AI-driven technologies on an individual basis. New technology requires installation and set-up, and personnel needs to be trained in its use. The resulting incremental progress can slow businesses down in the race to win.
The AI Transformation Journey
The AI transformation journey can seem exciting or daunting. The goal is to assess where you fall in the competitive landscape and what you can do to get and stay ahead. The newest AI technology very quickly becomes standard but implementing it is a trial and error process that can cost a lot and yield varied results. The AI you implement must be of high strategic value and have a downstream impact, lowered operational cost, and higher profit margins.
Where are you in the AI transformation journey?
AI implementation can be easy or difficult depending on a number of factors. For instance, many businesses are discovering they aren’t able to cease all on-premise data storage and migrate to the cloud in stages. Others are finding that once in the cloud, additional AI-enhanced security and data acquisition methods must be implemented. Some are finding that they have the personnel to set up an AI regime, but not the personnel to use it. Others are still waiting to make their first AI moves. Without a plan, AI implementation can be unpredictable and unprofitable. But understanding what opportunities are available can help avoid these challenges so that you thrive as an automated organization.
Ways to Apply AI
When we think AI adoption, we think customer-facing rather than internally-facing. This is not surprising, as customer-facing versions can often yield immediate results that are easier to measure. AI in Customer Service can help reduce workforce costs and make human representatives more efficient while increasing customer satisfaction.
While this is an exciting advancement, the newest AI frontiers involve internal teams. It can take extensive planning and resources upfront but the application of AI to internal team processes like HR or R&D can be very effective and profitable.
When to Implement (For an Easy AI Win)
Examining the examples of R&D and HR reveals an important indicator as to whether a company or team is ready to implement AI. The promise of AI for HR has been held back to an extent by data acquisition and processing. HR data can be useful when data sets apply to a workforce but this means companies have to a) have a good baseline data set to work from and b) be able to collect the right workforce data to use it.
But with R&D the data sets exist. Solution suites like IP.com provide access to dozens of global IP databases plus the tools for ideation, research automation, disclosure defense, and generating publishable prior art.
IP.com’s suite of AI-enhanced search and data analysis products provides end-to-end innovation support for engineering teams and management. IQ Ideas Plus™ facilitates collaboration and streamlines workflows, impacting business divisions downstream beyond those optimized with AI.
Add powerful AI to your workflows for these benefits:
- Easy implementation and use
- Immediate impact
- Downstream long-term impact
This combination of factors allows organizations and departments of any size to take immediate advantage of internal-facing AI. As a cloud-based service, the IP.com suite requires minimal ramp-up and little-to-no infrastructural changes. Its intuitive user interface reduces the time and resources needed to train personnel to use it.