Unleashing the power of Digitization with AI
“Digitization in the new normal is possible with emerging technologies. With its potential benefits, AI helps organizations drive digitization and unleash the power of digital tools and technologies”.
The times have changed, and so are the ways of doing business. In the aftermath of the COVID-19 pandemic, digital tools and technologies have become the new normal. With the rise in digital business practices, sectors across industries are shifting to an all-new world of digitization.
Companies adopting emerging technologies, businesses taking up digital tools, and organizations driving their growth and productivity with digitization are the new identities across industries.
From manufacturing and supply chains to retail, distribution, and education, almost all sectors are leveraging the benefits of digitization and running their businesses.
Industry 4.0, as they call it, is the compilation of digitized technologies, which has become possible with the correct utilization and implementation of emerging technologies such as AI, IoT, ML, VR, and AR, among others.
The potential of emerging technologies such as AI is unparalleled in driving digitization and promoting digital transformation among business processes.
Artificial intelligence, in simple words, refers to machines’ ability to mimic human functions.
It is a process of developing systems with human intelligence capabilities, such as learning from past experiences and generalizing things and business processes in the new normal.
However, it is not only limited to AI but leads to technologies such as Natural Language Processing (NLP), machine learning, and deep learning.
This tells us the depth AI holds and the promising benefits it has for the future.
Role of AI in driving Digital Transformation
It is only possible to imagine digital transformation by embedding digital tools.
AI is one such technology that promotes efficiency and productivity among business processes and helps organizations leverage the benefits of digitization in Industry 4.0.
Artificial intelligence (AI) remains a constant driving force behind digital transformation, enabling organizations to analyze data to anticipate the future and suggest the most effective strategies using AI-driven automation.
Also, the service providers use AI to deliver reliable services with 24*7 support through chatbots and smart data analytics that help organizations personalize interactions, optimize workflows, and reduce support costs among organizations.
However, a misconception in the industry often confuses business leaders between AI and Automation.
Automation follows pre-programmed rules and functions to carry out tasks without the intervention of human beings and to save time and money spent on repetitive, voluminous tasks, thus allowing businesses to transform complex tasks into easier ones.
In contrast, Artificial Intelligence (AI), on the other hand, simulates human thought processes by analyzing a large amount of data to learn and recommend what’s best for the organization and its business processes.
There have been speculations around the industry that AI will replace humans. Not only is this speculation baseless, but also a negating force that ceases the growth of emerging technology like AI.
Furthermore, research has suggested that AI will not replace human beings anytime soon, as it also needs human intervention to reach its full potential.
Organizations gain a much more accurate understanding of their customers by combining AI and machine learning for analyzing social, historical, and behavioral data by delivering several digital transformation platforms using AI to offer a 360-degree view of members’ needs based on their browsing history, EDM analysis, and click-through rates.
Unlike traditional data analytics software, AI constantly learns from the data and helps organizations anticipate customer behavior from it and creating valuable content, boosting revenue, and enhancing digital customer experience.
Furthermore, digitization has enabled organizations to grow and generate revenue using advancements in Artificial intelligence.
For instance, it allows businesses to detect weak areas and generate accurate predictions about prospects, competitors, and market trends, promoting productivity, excellence, and resilience.
The above-discussed role of AI in digital transformation tells a lot about its significance.
In the post-pandemic era, it has become imperative for organizations to leverage digital tools and technologies and promote efficiency, which not only allows AI to unleash its current potential but also paves the way for organizations to unleash its potential, which looks promising in the years to come.