In FMCG, F = Fast. Retailers need to adapt to rapid changes in consumer attitudes and the marketplace. Every aspect of retail operations has the potential to make or break the customer experience. AI technologies are breaking down barriers and making it imperative for retailers to adopt a globally competitive retail business model. The power of machine learning has made it possible for businesses to continuously scrutinize customer behaviour data and generate alerts when the time is right for the next best action.
What are some of the AI related challenges and transformational possibilities we are faced with as a company delivering digital transformation for enterprises? This is the question I attempted to answer in my innovation keynote speech at AI Tech North, the first large scale AI conference in the North of England. It was truly exciting to share insights, my perspective and observations with AI enthusiasts, academics, graduates and leaders gathered in large numbers to discuss innovative technologies and data trends.
After 5 years of the first enterprise level implementation of RPA, the recent traction that is being noticed in the corporate world is an indicator of the IT landscape warming up to the concept, and gaining insight into the dynamics of tactical application of robotics.
With the take-up of automation increasing rapidly across industries, AI-driven bots are at the centre of business process improvement, helping to enhance the user’s experience -- and customer engagement more generally -- with more intuitive, easy-to-use interfaces.
According to MIT Sloan Management Review, we are embarking on a journey where the rules-driven bots will be replaced by Artificial Intelligence or AI-driven bots that have the capability to self-learn and continuously improve their knowledge, just like humans. The technologies that are powering such AI bots are Natural Language Processing (NLP) and Machine Learning (ML). AI bots are well on the way to becoming intelligent personal assistants for consumers across many industries.
During last month’s Leeds Digital Festival, I had the pleasure of hosting a round-table discussion on RPA entitled Robotic Process Automation: The Emperor’s New Clothes? The collective insights of my guests – senior representatives of businesses from across the north of England – made for a truly fascinating debate and I want to share the fruits of our discussion with you.
As the cloud evolves, AI plays an important role in automating processes and speeding up digital transformation. It drives business value for enterprises by eliciting information from processes and refines the customer approach with customised solutions.