October 23, 2020 | Divya Khare
Gartner’s Data and Analytics Leader’s guide to Data Literacy had quoted, “By 2020, 50% of organizations will have insufficient AI and data literacy skills to realize real business value”. The other 50% will be equipped with smart algorithms, data literacy, and high resources for power computing enhancing the business value. Artificial Intelligence and machine learning will help the organizations unfold the Industry 4.0 revolution.
Business transformation digitally is going hand in hand with customer experience. Forbes prepared a list of statistical data that showed the importance of digital transformation and how that has impacted the growth of businesses. Some of the key findings were:
Sometimes organizations consider taking a leap on digital transformation however to attain that, a certain amount of maturity is a prerequisite. Artificial intelligence can act as a fuel in optimizing processes and derive insights. This is a clear thought that having access to the right data and analytics tools can highly enhance decision making. Machine learning facilitates the companies to build strategic models using predictive analysis that can fasten the testing cycle better than a human can do.
Accenture forecasted that the Industrial Internet of Things could contribute $10 trillion to the global economy by 2030. This report additionally explained that sensors, materials tracking mechanisms, 3D printing, automated product design, robotics, and wearables could help manufacturers reduce costs and increase productivity.
AB InBev, the world’s oldest most popular beer brand includes Budweiser, Corona, and Stella Artois was looking to improve operations at manufacturers and other companies. Pluto7 helped them in developing a prototype solution that optimized the beer filtration process with much greater accuracy, reducing costs, and increasing efficiency. All of this, without compromising in the taste of the beer. The filtration process was majorly used to remove the remaining yeast, proteins, and other extra elements to achieve the best, crusty taste of the beer. The complete filtration process has many unpredictable variables, such as fluids’ turbidity coming in and going out of the filter. This technology manipulating the variables is capable of only the basic logic using meters to monitor and react accordingly. It was after leveraging ML and AI solutions that the company could better predict and prevent potential issues during filtration. Therefore, an ML-enabled filtration process helped in delivering the best taste with notable cost efficiencies.
Not just this but the transportation sector has also started to implement the applications of artificial intelligence for critical tasks. Though the reliability still remains questionable for the general public for tasks like a self-driving vehicle. These fall under the category of typical challenges for the transportation industry like capacity problems, environment pollution, safety, and conservation of wasted energy.
In nutshell, artificial intelligence is a set of collective technologies that work together to let machines sense, learn, understand, and react to augment human activities. In today’s scenario data is present in vast cloud databases unless it’s extracted and processed. With artificial intelligence and machine learning capabilities, businesses can efficiently process billions of data points. The drastic rise in the use of AI technology has led to the automation of work making the organizations walk united with the new age business revolution.
We, at Pluto7, are enabling businesses with artificial intelligence and machine learning solutions driven by smart analytics. Are you still awaiting the change in your new business model to scale up with exponential growth? We are just a message away!
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