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Home»AI in Business»AI Evolution and Business Operations Transformation
AI in Business

AI Evolution and Business Operations Transformation

November 23, 2024006 Mins Read
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Ron Cameron is the CEO of Lake of Knowledge and has over 20 years of experience in the information management industry.

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Artificial intelligence (AI) is arguably the most transformative technology of our time. From its beginnings as rudimentary productivity tools, AI has evolved into sophisticated systems that enhance human capabilities and drive business innovation. Integrating AI into business operations can help improve efficiency, accuracy and strategic decision-making.

As we move through different stages of AI development, it is crucial that technology leaders know how to use AI to its fullest potential. From basic tools to advanced AI co-pilots, the AI ​​transformation journey offers great opportunities for those who take a strategic approach.

The evolution of AI in stages

Just as cars have evolved from a simple mode of transportation to today’s technological machines with self-driving capabilities, AI has evolved from basic tools to advanced systems. The first cars were only used to get from point A to point B. Over time, they evolved to include complex navigation systems, improved safety features, and eventually, autonomous driving capabilities. Similarly, AI started as a set of simple tools assisting in discrete tasks and has now evolved into intelligent co-pilots capable of understanding context, automating complex processes and augmenting human capabilities.

Let’s look at these stages of AI evolution.

Step 1: Tool Generation

At first, AI was limited to tools for tasks like content creation and basic data analysis. Technologies like ChatGPT have emerged, providing valuable assistance in creative and operational tasks. But these tools did not provide a complete vision and looked more like functional aids than strategic assets.

Step 2: Generation of co-pilots

We are currently in what we can call “the co-pilot generation”. Here, AI functions not only as a tool but also as an intelligent and efficient assistant. This step involves improving the efficiency of how repetitive tasks are performed by humans and automated without requiring a proportional increase in human labor. It’s about finding the right balance between human capital and automation while allowing employees to develop their potential.

Step 3: Generating Drivers

Looking ahead, the future of AI lies in the driver generation, where AI agents will collaborate with humans on an even deeper level. These AI systems will coordinate and optimize workflows, making decisions and adjustments in real time to maintain efficiency and productivity at unprecedented levels.

Intuitive AI: the on-ramp to accessible AI

Integrating AI into business processes can act as a force multiplier to increase efficiency, making AI accessible and beneficial to all businesses. In this “Intuitive AI” stage, AI improves operational efficiency and decision-making with existing systems. Ultimately, AI should become easier to use and more accessible.

Examples include AI-powered solutions that streamline document classification, data extraction, and workflow automation, thereby reducing manual efforts and accelerating business processes. This approach helps improve accuracy and productivity while enabling organizations to unlock new opportunities for growth and innovation.

These enhanced AI capabilities include providing accurate, contextual responses to document and data queries, helping to ensure high availability and enabling businesses to operate efficiently from anywhere. It also provides ease of use and integration into existing workflow operations, thereby reducing manual efforts while improving overall productivity. Importantly, AI is led and driven by the business, not IT, making advanced technologies accessible while fostering a more collaborative and innovative work environment.

Considerations for Practical AI Deployment

For AI to be effectively integrated into business operations, a strategic and thoughtful approach is necessary. Here are some key considerations:

Automation and efficiency

To maximize the benefits of AI in automating routine tasks, organizations must first identify the processes most suitable for automation, such as document categorization and data extraction. It is essential to map current workflows and determine where AI can replace or assist manual efforts most effectively.

Implementing AI to handle tasks like handwriting recognition and processing image-only PDF files, for example, can help streamline operations. However, before deploying AI, ensure that the data used is accurate and well-organized to avoid inefficiency in the long run.

Improved decision making

For AI to truly improve decision-making, organizations must focus on establishing a solid framework for data management and integration. This involves ensuring that the AI ​​system has access to up-to-date, high-quality information, structured to meet specific compliance, customer service and strategic planning needs.

Companies should also set clear guidelines for how AI-generated information is used in decision-making processes. In doing so, AI can improve response times and the overall quality of customer interactions, but only when human oversight is in place to guide its application.

Human-machine collaboration

It is important to understand that AI does not replace human workers but complements them; a way of doing more with less. In this regard, AI should be seen as a co-pilot that enhances human effort, providing recommendations and performing repetitive tasks with greater speed and precision. This collaboration allows employees to focus on areas that require creativity, critical thinking and emotional intelligence.

Human monitoring and exception handling

Make sure human monitoring is part of your AI deployment strategy. Although AI can automate many tasks, human intervention is crucial for governance, exception handling, and making final decisions on critical issues.

Taking care of data quality

Before implementing AI solutions, evaluate the specific needs of your organization and the quality of your data. Understanding where AI can deliver the most value will guide your technology investments and deployment strategies.

Real-world applications

Finally, what are the use cases? Where can you get the first winnings? Here are some examples from different sectors that I know:

•Higher education: HAS University of Washington (a KnowledgeLake client), more than 16 departments are using AI to streamline admissions, significantly reducing manual processing times.

•Energy management: Schneider Electric uses OpenAI and Azure to reduction of carbon emissions and improve sustainability.

•Manufacturing: Billing at New Belgium Brewing (a KnowledgeLake client) has been automated with AIsignificantly reducing processing time and achieving increased accuracy.

Conclusion

The shift from AI tools to intelligent co-pilots and ultimately AI drivers represents a paradigm shift not only in how businesses operate, but also in the future of work itself. Adopting these advancements thoughtfully can generate efficiencies and lead your organization toward a more innovative and competitive future.


Forbes Technology Council is an invitation-only community for world-class CIOs, CTOs and technology executives. Am I eligible?


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