Tech tools get smarter the more data they ingest and are helping rapidly transform entire industries. From health care, banking, and retail to insurance and transportation, industries are being upended. AI-powered solutions allow firms to rapidly digest the mountains of customer data they’re collecting and translate it into actionable business strategy. These performance-enhancing tech tools allow for huge gains in productivity and process improvements including the ability to free employees from routine chores to focus on more high-value tasks.
Predictably, manufacturers are leveraging these high-tech tools to detect flaws too minute to see before products leave the factory and apply deep learning across industrial operations to improve efficiency and output at scale. Likewise, distributors are using these advancements to more efficiently manage inventory stock and fulfillment and make smarter decisions at both the warehouse and product aisle level. High-tech retailers were among the first to embrace AI technology, using it to tailor messages and pricing strategies to individual shoppers; provide customized offers and discounts; and replace generic search and support functions with personally contextualized conversations.
AI is rapidly becoming commoditized and enjoying more widespread availability. Many software providers now offer off-the-shelf, turnkey solutions for grabbing mission-critical intelligence in real-time from virtually any data source. As a result, many providers can draw on dozens of past projects and case studies to provide simple grab-and-go templates to use as a starting point to speed up development of custom solutions. Companies can mix and match entire suites of cost-affordable AI tools to help drive profit and productivity gains in a matter of weeks.
With data now the new basic building block of business success, the future belongs to those organizations who can most rapidly monitor and decode the signals that the marketplace is sending and translate those signals into smart business strategies.
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