Artificial Intelligence Is Deemed the Future of Business Intelligence
Big data has been the highlight of business intelligence these past few years. Businesses are turning to big data analysis to better understand the market, as well as their own workflows and operations. There is no doubt that the use of big data and the availability of systems built around the concept have enabled businesses to gain more insights and be more competitive.
The next big step in business intelligence is a move towards Artificial Intelligence or AI. Many experts believe that AI is the future of business intelligence. The advancements that are being implemented in the market today seem to substantiate this claim.
A Learning System
AI has the ability to take big data analysis and business intelligence to the next level. The system that uses artificial intelligence at its core is no longer a passive one. Instead, it can learn from various sources and adapt automatically. AI also minimizes the need for human input or manual analysis, especially once the system has learned enough from the business’s operations and needs.
The technology behind AI has grown rapidly. Google recently demonstrated its AI-specific server infrastructure and the AI’s ability to construct its own servers through advanced learning. Yes, we now have AI building AI and systems that can sustain themselves without any human input down to the hardware level.
photo/ Gerd Altmann via pixabay
Part of the Decision Making Chain
The presence of AI will help businesses stay even more competitive than before. While the algorithms currently used to process big data are more than capable of providing insights, further analysis is still needed in most cases. With AI taking over this part of the process, key decision makers in the company can look at mature business intelligence and instantly understand what needs to be done.
On a lower level, AI can make those decisions for the business. Several implementations of IBM Watson saw the system making the necessary adjustments to orders of raw materials and manufacturing workflows after performing optimizations or upon seeing disruptions in the process. All of these actions are done automatically, which means AI is governing the entire manufacturing process on its own.
The result is a business that can adapt to changes almost instantly; much more so than when the decisions need to be made through meetings and manual analysis. It is the future indeed.
Changes on the Market
The entire business landscape is preparing for the use of AI already. Top universities such as the UAB Collat School of Business already have AI-related subjects in their online bachelor of science in information systems programs. Future online BSIS degree holders will already have the knowledge and skills to work with AI-powered systems.
On the other hand, better implementations of AI are being constructed. Business-focused AI systems are now capable of performing better forecasting and budgeting, a thorough analysis is based on more factors such as sentiment and special conditions, and even better risk management is used to improve their decision-making prowess.
Artificial intelligence is the future of business intelligence. It will not take long before access to AI-powered systems can be enjoyed by small and medium enterprises as well.
Author: Carol Trehearn
