Artificial Intelligence (AI), like similar forms of technology (cognitive computing, machine learning) is all about obtaining using data feeds to gain insight. In business, being able to use this data provides invaluable insights into how companies function at every level.
MITSloan state: “For AI to become a prominent feature in future strategies, companies must figure out how humans and computers can build off each other’s strengths to create competitive advantage.” Read their full insight here.
Many leading businesses are turning to and embracing these technologies to move themselves forward, and to get ahead much faster than previous manual data analysis methods might have allowed. Adoption is stronger in some industries than others, but with 84% of respondents surveyed by MITSloan in support of the change AI could bring, the case is strong across all types of industries, including the supply chain.
So, what are the kind of competitive advantages you could expect from utilising automation technologies?
- Streamline processes and eliminate visibility blind spots, so you are able to manage customer orders faster and the status of your products and deliveries at all times.
- Enable your workforce to focus on the customer and on improving service.
- Allow technologies to use gathered data to anticipate trends, prevent problems occurring, and enable root cause analysis by having access to all available data in a particular process.
To achieve a competitive edge, explore not just AI, but take a step back and look at how you can digitise your business and become a pioneer. AI is just one avenue, so find out what's right for you.