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Manufacturing Technology Insights | Monday, February 18, 2019
Enterprises in all verticals are embracing Artificial Intelligence (AI) at a rapid pace for their evolution. AI powers many industrial and personal processes ranging from data analytics to personal assistance in smartphones and speaker devices. The disruption of Artificial Intelligence continues to expand several new trends at the enterprise level are emerging transforming them to AI enables enterprises.
Rejigging Value Chains
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Organizational workflows comprise of several value chains that operate together efficiently to result in overall productivity of the business. AI has stretched its reach almost to all value chains and is redesigning the way they operate.
• Manufacturing: Assembly line productions have been significantly influenced by the advent of robots and automated tools in manufacturing. The technology has reduced manufacturing time increasing production cycles, ultimately giving a boost to industrial revenue. Robots are also able to address the lack of labor workforce.
Few Artificial Intelligence Solution Companies: Avid Secure, Virtis, Torch.AI, Fluid AI.
• Logistics: AI, merged with the Internet of Things (IoT) and independently, in both ways showcased its capabilities to manage the logistics and supply chain for enterprises effectively. The predictive analysis feature has proven of great use in sufficing customer demands in advance.
• Marketing and Sales: Perhaps the toughest nut to crack at the organizational level. AI enabled tools and bots have started to impact the customer relationship—especially for online platforms—for better. Chatbots and predictive analytics tools have powered marketing professionals to deliver customer satisfactory services.
Forging of New Revenue Models
Leaders in organizations are concerned to transform traditional cost centers such as IT into revenue and profit centers for which they look up to AI. Earlier data in organizations was stored in silos, but AI tools are breaking the silos to eliminate data blind spots which in turn would result in direct and indirect monetization models. New revenue models will be adequate to provide an edge in the competition.
Enhanced Efficiency and Productivity
Bet it HR, supply chain, or any other business operation; AI has been able to deliver the expected. Automation brought in reduced work pressure from employees resulting in increased efficiency and productivity as a whole. Businesses improved customer satisfactory services by utilizing technology.
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