How AI is Helping Organizations Reimagine Business Intelligence

  A 2016 Narrative Science survey reports that of all the businesses that have an innovation strategy in place, 61% say that they are already using AI (Artificial Intelligence) to identify opportunities in data that would otherwise be missed. This is significant and points to one key fact: that businesses are finally overcoming the initial challenging phase of organizing data and testing an algorithm with this data set for accuracy. This also indicates that AI is gaining momentum and companies are rapidly engaging tools that better automate business intelligence (BI) and analytics processes. Businesses are using AI to process vast reams of data and identify broader trends and get insights faster. Also it is helping them make quicker and more informed decisions that can put them way ahead than their competitors.

AI for Business Reporting& Intelligence

The Problem:
As new-age enterprises go increasingly digital, their operations, decisions and performance are all ruled by a single metric – data. And while most businesses have been investing greatly in data analytics, there have been some fundamental hurdles that business leaders continue to face viz.
– Gathering data across different touchpoints throughout the business cycle. Business executives need to spend precious time and resources to get relevant disparate data from internal and external sources.
– Teams need to undertake great efforts in undertaking basic data analysis which causes delays, making the data irrelevant with little scope for predictive analytics and value addition.
– A lack of reporting mechanism that creates a seamless user experience and enable business leaders to use the data to drive real time action.

The Solution: AI, Machine Learning & NLP powered Solutions
AI has emerged as the perfect solution to counter all these challenges. New-age AI and Machine Learning solutions gather data across different devices (mobiles, desktops etc.), transactions, sensors and equipment at production plants. So, for example, if a company has field executives/sales staff on ground that use a mix of company-owned tablets, smartphones or other devices to record business leads and purchase orders, then all the data from these transactions can be automatically gathered, linked and analysed to spot key consumer trends or irregularities. Often, businesses use a multitude of apps/platforms like Salesforce, Facebook or Shopify to gain insight on their customers, sales or product inventory. AI-based tools can extract data from the various POS and online stores and convert this data into reports. The reports can help business owners to spot key business trends like product performance or customer preferences in real time and can be shared across different devices used by company executives spread across different geographies. AI-based platforms or solutions can help business owners and executives to get a uniform and analysed data view.
AI & Machine Learning are becoming especially critical in detecting unexpected or sudden variances in everyday business – be it transactions, product purchases or machine operations. Companies are calling upon AI solutions to alert them about a probable machine failure or an unusual spike in demand for a particular product. So, for example, if a factory owner has deployed an AI solution to track an assembly line then a sub-optimal production would be immediately reported and prompt the owner to take necessary action.

Predictive Analytics
The biggest advantage that AI-driven business intelligence solutions are delivering is in predicting probable outcomes based on available information. AI and machine learning are helping companies to predict what their customers would want, which products would they prefer, which clients are the most likely to turn into loan defaulters and so on. Even in machinery-driven manufacturing and heavy industries, machine learning systems are being increasingly used to track every physical equipment including machine tools, oil rigs, fleet trucks, cargo containers, commercial vehicles, train wagons and production plants. Artificial intelligence can draw from the sensors attached to these goods, process large volumes of data that each of these products transmit and provide critical insights like when would a machine likely face downtime or need repair.
The Mobiliya Report Genie leverages the power of Natural Language Processing (NLP) & AI to create analytical reports of the performance of thousands of engineers and hundreds of projects. With the impending launch of 5G connectivity, the performance is only going to increase exponentially with increase in speed and volume of data captured.

AI: The New-Age Work Partner
It is estimated that already, deep learning and machine learning systems are hitting a mark of 96% in interpreting data, which is the best that human business analysts can do. And we are still in the early days of these technologies. As the systems become well-oiled and process more and more data they would learn better which information is important and customize reports and dashboards accordingly. Thus, contrary to popular belief that AI would replace human executives, it can in fact assist them in presenting data in a much better way. The perfect working partner that professionals across departments can ask for.

Deep Learning and the Future of Business

Featured article by Krish Kupathil, founder and CEO of Mobiliya

Artificial intelligence (AI) has been regarded as the stuff of science-fiction movies. From self-driving cars to image classification and face recognition, AI has transformed machines into self-thinkers, replete with human-like intelligence and reasoning. Deep learning, a subset of AI, has allowed for several practical applications of AI in our daily lives. Gaming has been one of the foremost areas where deep learning has made a huge impact: 2016 saw the defeat of South Korean Go master Lee Sedol by Google DeepMind’s AlphaGo program. Deep learning even promises to transform global businesses. It has already made a promising start in solving complex business needs and problems, which were otherwise beyond human capabilities. According to a Forrester research report, investment in AI will increase by 300 percent in 2017, a sign of things to come. Continue reading “Deep Learning and the Future of Business”

Fix It Faster, Save Lives: Augmented Reality for Medical Equipment

The last 15 years have seen a phenomenal change in the way we work, communicate, shop, explore and generally go about our everyday lives. And the technological transformation is far from over. The same technology that gave us the Googles, Facebooks, innumerable mobile apps and cloud platforms of the world is now set to save human lives. Continue reading “Fix It Faster, Save Lives: Augmented Reality for Medical Equipment”

Augmented Reality Set to Revolutionize Global Medical Education Methodologies

If you are a medical student, chances are your days are filled with reams of printed data explaining the fundamentals of surgery procedures or human anatomy and reliance on imagination or visualization skills to get the perfect understanding. However, what if instead of learning from a simple graphic of the human brain, students could actually see a 3-D form of the human brain that literally shows how the brain processes information and even walk around it to see bits of data flowing through the brain? Continue reading “Augmented Reality Set to Revolutionize Global Medical Education Methodologies”

Feature (YourStory.com): [Techie Tuesdays] Your favourite Indian techies of 2015, voted by you

Last week, we asked you to vote for your favourite techies. The voting process is over and the response has been amazing. We had profiled techies from various fields and demographics who went on to achieve different things in life. It was very difficult for us to choose one techie from the list of over 40 we had profiled this year. But, based on the votes received, we bring you the top three techies who were close to the hearts of our readers and also three stories handpicked by our editors. Continue reading “Feature (YourStory.com): [Techie Tuesdays] Your favourite Indian techies of 2015, voted by you”

Article (YourStory.com) – Teachers, tablets and technology: what India’s education truly needs

A startling revelation by the Unified District Information System for Education once again showed the shambles in which the Indian education is. Maharashtra, as an example, has a whopping one lakh teachers with the highest qualification of just Class X. If this is the condition in what is regarded by some as the most developed State in the country, one shudders to think how it is in the less developed and remote areas of the country. Continue reading “Article (YourStory.com) – Teachers, tablets and technology: what India’s education truly needs”

Top 5 Capabilities that IoT Providers Can’t Do Without

In the last five years, the Internet of Things (IoT) has been a topic of great discussion, speculation, prediction and a lot of hype. The IoT market consistently grew in 2015 and 2016 and is expected to continue its growth through 2020. While the research firm Gartner has a conservative estimate projecting a growth of 20.8 billion connected by 2020, Cisco’s estimate posts a figure at a whopping 50 billion with the scope of connections including tires, roads, supermarket shelves and even cattle. Continue reading “Top 5 Capabilities that IoT Providers Can’t Do Without”