Skip to main content

AI as a Game Changer

 In the early phases of the industrial revolutions, technological innovations

replaced or relieved human muscle power. In the era of AI, our intellectual

powers are now being simulated, multiplied and partially even substituted

by digitalisation and AI. This results in fully new scaling and multiplication

effects for companies and economies.

Companies are developing increasingly strongly towards algorithmic

enterprises in the digital ecosystems. And it is not about a technocratic or

mechanistic understanding of algorithms, but about the design and optimi-

sation of the digital and analytical value added chain to achieve sustainable

competitive advantages. Smart computer systems, on the one hand, can

support decision-making processes in real time, but furthermore, big data

and AI are capable of making decisions that today already exceed the quality

of human decisions.

The evolution towards the algorithmic enterprise in the spirit of the

data- and analytics-driven design of business processes and models directly

correlates with the development of the Internet. However, we will have to

progressively bid farewell to the narrow paradigm of usage of the user sit-

ting in front of the computer accessing a website. “Mobile” has already

changed digital business significantly. Thanks to the development of the IoT,

all devices and equipment are progressively becoming smart and proactively

communicate with each other. Conversational interfaces will equally change 

human-to-machine communication dramatically—from the use of a text-

based Internet browser down to natural language dialogue with everybody

and everything (Internet of Everything).                                                             


Machines are increasingly creating new scopes for development and

possibilities. The collection, preparation and analysis of large amounts of

data eats up time and resources. The work that many human workers used

to perform in companies and agencies is now automated by algorithms.

Thanks to new algorithmics, these processes can be automated so that

employees have more time for the interpretation and implementation of the

analytical results.

In addition, it is impossible for humans to tap the 70 trillion data points

available on the Internet or unstructured interconnectedness of companies

and economic actors without suitable tools. AI can, for example, automate

the process of customer acquisition and the observation of competition so

that the employees can concentrate on contacting identified new customers

and on deriving competitive strategies.

Recommendations and standard operation procedures based on AI and

automated evaluation are often eyed critically by companies. It surely feels

strange at the beginning to follow these automated recommendations that

are created from algorithms and not from internal corporate consideration.

However, the results show that it is worthwhile because we are already sur-

rounded by these algorithms today. The “big players” (GAFA = Google,Apple, Facebook, Amazon) are mainly to solely relying on algorithms that

are classified in the category “artificial intelligence” for good reason. The

advantage: These recommendations are free of subjective influences They are

topical, fast and take all available factors into consideration.

Even at this stage, the various successful use and business cases for the

AI-driven optimisation and design of business processes and models can

be illustrated

Comments

Popular posts from this blog

Customer Engagement with Chatbots and Collaboration Bots: Methods, Chances and Risks of the Use of Bots in Service and Marketing

 Relevance and Potential of Bots for Customer  Obtaining information, flight check-ins or keeping a diary of one’s own diet—all of this is possible in dialogue today. Customers can ask questions via Messenger or WhatsApp or initiate processes. This service is comfortable for the customer, available at all times via mobile and promises fast answers or smooth problem-solving. A meanwhile strongly increasing number of companies is already relying on this means of contact and the figures on chat usage speak in favour of this means supplementing or even replacing many apps and web offers in the future. The reasons for this are manifold. Figures of the online magazine Business Insider 1 reveal a clear develop- ment away from the public post to the use of private messaging services such as Facebook Messenger or WhatsApp. Facebook meanwhile has a user base of around 1.7 billion people worldwide; 1.1 billion people use WhatsApp, and Twitter can nevertheless still record 310 million us...

Robot Journalism Is Becoming Creative

 Algorithms are able to automatically search the Web for information, pool it and create a readable piece of writing. In addition, data-based reports in the area of sport, the weather or finances are already frequently created automat- ically today. Recently, for example, merely a few minutes after Apple had announced their latest quarterly figures, there was a report by the news agency Associated Press (AP): “Apple tops Street 1Q forecasts”. The financial report deals solely with the mere financial figures, without any human assistance whatsoever. Yet, AP was able to publish their report entirely via AI in line with the AP guidelines. For this purpose, AP launched their corresponding platform Wordsmith at the beginning of 2016, which automatically creates more than 3000 of such financial reports every quarter, and which are pub- lished fast and accurately. It is no longer that easy to distinguish between whether an algorithm or a human has written a text. Another exception of rece...

Sales and Marketing Reloaded—Deep Learning Facilitates New Ways of Winning Customers and Markets

 Sales and Marketing 2017 “Data is the new oil” is a saying that is readily quoted today. Although this sentence still describes the current development well, it ides not get down to the real core of the matter; more suitable would be “artificial intelligence empowers a new economy”. The autonomous automation of ever larger fields of tasks in the business world will trigger fundamental economic and social changes. Based on a future world in which unlimited information is available on unlimited computers, ultimate decisions will be generated in real time and processes will be controlled objectively. These decisions are not liable to any subjectivity, information or delays. In many sectors of the economy, e.g. the public health sector or the autonomous control of vehicles, techniques of artificial intelligence (AI) are applied and increase the quality, availability and integrity of the services offered. The same development can be observed in the field of sales and marketing. Today, ...