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AI: The Next Step towards a Data Driven Enterprise

Author:QINSUN Released in:2024-03 Click:29

Nowadays, most people recognize the importance of becoming a data-driven enterprise, able to instantly perceive and respond to business events when needed. Data analysis tools and platforms have paved the way for capturing events and taking action, but as the supply chain problems that have erupted over the past year have shown us, there is still a long way to go. Now, artificial intelligence is expected to fill this gap.

R. In his new book "Everyone Wants to Rule the World," Ray Wang states that the next wave of enterprise intelligence will be supported by "artificial intelligence services," which aim to "transform signal intelligence into process automation for decision-making or action.". He wrote that artificial intelligence services now distinguish today's successful cases from those who fall behind. For example, AI intelligent services can quickly filter available data to determine how to make quick payments - based on how much cash the company currently has, currency exchange rates, customer status, and special contract terms - whether to make payments in 30 or 90 days

Real time requires data-driven results

"Artificial intelligence services can bring different results," Wang added. "They can automate simple processes, such as tracking inventory, as well as complex processes, such as tracking inventory and automatically ordering new inventory when the system detects customers showing special or abnormal interest in a particular product." He outlined seven expected outcomes for data-driven enterprises using AI intelligent services:


"Artificial intelligence services describe what is happening now," Wang said. "It provides a basic description of the environment for manual programming. For example, a retail system would tell you that there are 30 pairs of blue pants in the back room, 5 pairs in the changing room, 2 pairs at the cashier's, and one customer has not yet left the store."


"AI intelligent services" tell you what you want to know. They provide notifications through alerts, reminders, and other signals that help provide additional information through manual input and learning. For example, with the improvement of retail systems, notifications can be created to remind employees when high demand inventory is stored in the changing room. Staff now know how to put clothes back on the shelves so that the store won't miss the opportunity to sell them. AI intelligent services can observe how employees react to notifications and when, in order to understand what actions are recommended for the future. "


Data driven artificial intelligence service recommendation action. "They provide suggestions based on past behavior and make modifications over time based on weighted attributes, decision management, and machine learning. In the retail industry, the system may advise employees to check the changing area when they discover popular items in the changing room (such as size 6 tight jeans). Based on the product's past sales data, time of year, day of week, and even shift, the system recommends that the product be relisted within 20 minutes or less."


AI intelligent services repeat what you have always wanted. "As the system continues to learn over time, it will fine tune and automate notifications and action suggestions. In retail cases, when only two pairs of the same size are displayed, staff will automatically receive notifications reminding them of how many tight fitting jeans are in the changing room and suggesting how much time they have to put them on the monitor."


AI intelligent services inform decision-makers of what they expect. "Prediction is based on deep learning to predict and test behavior. For example, based on over 1000 interactions, retail store managers will receive a prediction that they will sell out size 6 tight jeans by 2pm when the store opens on the same day. The manager will then automatically receive a prompt asking if she is willing to order more inventory to arrive before noon. If the store manager keeps saying 'yes', the system will learn to always check inventory and advise the manager to order inventory accordingly. After 5000 orders, the store manager may only give the system full authority to automatically complete the inventory."


AI intelligent services help avoid adverse outcomes. "They apply cognitive computing or their accumulated knowledge to identify potential threats. For retailers, artificial intelligence services may help identify potential credit card fraud before someone makes a purchase. In the case of products or services being returned due to defects, the benefits may be even stronger. In this case, AI services focused on prevention are all aimed at reducing risk."

Situation awareness

Data driven artificial intelligence services tell decision-makers what they need to know now. "Situation awareness - knowing what happened at that specific time and place and what to do in that situation - is close to imitating human decision-making. Achieving comprehensive situation awareness is an ideal result of artificial intelligence services and can also provide high-level decision-making speed."