COVID 19 has introduced the new normal, and leaders have been conscious of choosing pathways that will make their businesses resilient to future challenges. AI has emerged as one of the top choices, transcending from a futuristic approach to a must-have.
The journey of AI can be traced back to the 1950s. One of its earliest use was in the game of chess. Over time it has become a part of daily life. It was initially used to give customers a personalized experience through social media and e-commerce platforms and smart home devices. However, it is still seen as futuristic, and people who choose AI as a solution are seen as pioneers. It is this mind set that the pandemic is changing.
An immediate response to the pandemic was digital transformation, enabling people to work from remote locations. It was just the beginning of a new wave of changes. Many leaders across industries are choosing AI as the vehicle to propel through the pandemic.
Predictive ability is one of the reasons for which AI is being sought after. Pandemic brought along a lot of uncertainty. Decision-making based on expertise gained over years has been challenged as circumstances are changing rapidly. One had to immediately collect data, analyze trends, make predictions, and take actions in real-time. AI is the immediate solution. It is important to analyze consumer trends, predict new buying behavior, and plan production accordingly. Predictive ability is also used in healthcare to understand patterns and determine a diagnosis for a new disease. In places, it has also been used to determine the risk score of being exposed to the disease.
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AI is desired by industry professionals for its ability to automate processes and reduce human intervention. Manufacturing units are hit by pressure being created by both supply and demand sides. They also have to function with just a fraction of the regular workforce owing to social distancing norms. Thus, there is a need to automate processes through the production and supply chain so that human resources can be used judiciously.
The pandemic has created financial pressure and efficiency is the need of the moment. One must make the most of the minimal resources to improve the bottom line of the business. We need to reduce the scope for errors so that critical resources are not wasted. AI with accurate prediction and actions has ensured close to zero error in production and used resources judiciously. The accuracy is another advantage of using AI-based solutions, which boosts the efficiency of production.
HABER’s ELIXA, an AI-enabled platform, has packaged all these advantages of having AI in place and enabled industries to transform unstructured data into actionable intelligence. Customers have been able to uncover hidden potential, make processes independent of human intervention and drive efficiency. Significant improvement in sustainability can also be noticed, making it a perfect solution for the major problems industries are facing currently.
Thus AI is emerging as a tool with very compelling propositions. It has transcended from being called the future of the business to a must-have for businesses.