Artificial Intelligence’s impact on Business according to Re-Work’s AI Assistant & Deep Learning Summit
Posted by Elise Toulman
At the end of January, Re-work held its annual Deep Learning Summit in San Francisco, with its AI Assistant Summit running alongside. Tech giants, startups, and universities came together to showcase their research in the field and to debate the impact Artificial Intelligence is having in business.
AI isn’t a single technology. According to experts at the summit - including Google, Facebook, Uber, Slack, NVIDIA, and Netflix - the infrastructure required to build the foundation for an AI-enabled organisation requires some serious consideration. Organisations stand to benefit hugely by shaping an AI infrastructure that allows machine-learning, natural language processing, computer vision, and neural networks to work together and produce desired results.
Recognising that AI is a game-changer is essential not just for an organisation's development, but for its survival. Its potential for revolutionising business and the way we work means CIOs are keen to adopt its technologies, and build an AI strategy to take advantage of historical data, and to apply it to improve on past performance.
Artificial intelligence has already been adopted by many companies for tasks such as security, customer service, automation of production management, and internal compliance. AI isn’t being used to eliminate jobs, but to make better use of the people already in those jobs - to be able to do more with the same number of people. Using AI-enabled technology to manage internal IT and finance processes and procedures will become more refined, and more accessible as the tech continues to develop.
We’re already seeing this in the form of virtual assistants using cognitive automation to tackle knowledge-based duties such as customer service. Natural language processing in intelligent automation aggregates, extracts, and then analyses human speech. And machine learning responds to visual input identifying trends in graphs or recognising employees in pictures.
AI’s role in ERP is becoming a more and more prolific one; optimising business processes through automation, and improving the adoption and efficiency of software and infrastructure. The merits of adopting an ERP are numerable, but its impact on back office figures can have a profound knock on effect to front of house.
Wokingham Borough Council’s modernisation project, "21st Century Council", aimed to use advanced ERP technology to transform the way the organisation operated, combining a change in the way they worked both internally, and when helping residents. Selecting Business World On! on the Microsoft Azure Cloud, Wokingham Borough Council manages HR, Finance, Payroll and Procurement through their ERP, rolling out Budget Books and Income Manager later.
24% of unnecessary business steps have been removed and 9% of processes are now managed through automation, saving them £2M in the first 9 months of adoption.
The key to business success in this fast-changing environment is adding value through utilising technology. The right choice in internal digital support will unlock an organisation’s potential, allowing teams to benefit from simplified routines, the reduction of time-consuming tasks, lower operation costs, and the eliminated risk of human error. Automation in ERP already streamlines internal processes to save time and money, but AI will harness the power of ERP’s structured data, for actionable business intelligence and serious value increase.
Machine learning, predictive analytics, and sentiment analysis all present a world of potential and learning for organisations already enjoying an ERP solution, and are the reason Unit4 continues to invest in AI and driverless technology. We want to bring increased efficiency and productivity to our customers, and delivering the latest advances in AI for ERP is part of that.