In my first post, I explained what AI is, why it is taking off now and the level of maturity of AI techniques currently available. Now let’s look at 5 ways AI can be used to create value for your business.

The business case for AI is not just about reducing costs or improving productivity. It is about driving growth, profitability and sustainability through enhancing judgment & decisions, enhancing customer interactions, developing new, intelligent products and building trust within and outside the organization – hence enabling people and businesses to grow and do more. It’s all about finding the right balance and applying the right combination of automation and augmentation.

AI is about driving growth, profitability and sustainability

5 ways to use AI

1. INTELLIGENT AUTOMATION

Adding cognitive capabilities on top of automation technologies enables them to be self-learning and to act autonomously and proactively. The benefits not only include cost reduction, more efficient processes, activities and services but also error reduction, increased quality, consistency and flexibility in capacity.

2. ENHANCED JUDGMENT

AI solutions are able to ingest and digest larger quantities of data than any human is capable of. As such, they can be used to augment human intelligence in human-driven processes such as strategic decision-making. By collecting, organizing, analyzing and presenting data for human judgment they enable people to do a better job, while supporting decision ‘explainability’.

3. ENHANCED INTERACTION

AI powered virtual assistants help businesses to deliver a superior customer experience based on natural language dialogues, hyper-personalization and the curation of real-time information. This can increase customer acquisition, retention and overall satisfaction.

4. INTELLIGENT PRODUCTS

AI is being applied to introduce a new class of innovative, intelligent products and services, at high speed and of high quality. These products capture data from their real-life environment and use that data to steer the characteristics and behavior of the product itself and/or its pricing structure. Examples include Self-Driving Cars, Lighting as a Service, Industrial Internet of Things Self-Repairing Software, and Contextualized Insurance.

5. ENHANCED TRUST

Trust has become a key challenge in the digital age. AI solutions can be used to improve governance, compliance and transparency both within an organization and outside, with external stakeholders.

Contexts in which AI adds value

My new Point of View includes two real-life cases that illustrate contexts in which AI adds value.

The first concerns Intelligent Automation. With more than 425,000 employees worldwide requiring support on 2000+ applications and 500,000+ devices, Accenture augments its human Technical Helpdesk agents through an AI powered Intelligent Email Advisor system.

The second shows how AI can enhance interaction with customers, in this case, people seeking mortgage advice in the UK, where a regulatory change has triggered the creation of Collette, an AI powered mortgage adviser that offers customers an innovative, digital way of interacting with their bank at any time it suits them.

Read the full report here!

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