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Crystal Ball 2021: AI Combatting Disruption due to COVID-19

Today’s world is increasingly surrounded by fear. Not just fear of COVID-19, but also of the unknown fears: loss of market share to a competitor, the creeping suspicion that businesses may be outperforming yours, everywhere, all the time. Business leaders need to grasp the understanding that the cost of doing nothing now, significantly outweighs the cost of taking action later.

It can be said with confidence that 2020 has been defined by COVID-19 and its impact to families, consumers and especially businesses in all industries around the globe.

Thus, our fourth and final prediction for Artificial Intelligence in 2021:

AI Combatting COVID-19 Disruption.

Crystal Ball Predictions 2021: This article emphasizes AI Combatting COVID-19 Disruptions

COVID-19’s disruption significantly impacted numerous industries, not the least of which include Chemical Manufacturing, Oil & Gas, Higher Education and more. Elutions continues to address COVID-19 related business challenges and more through Maestro’s AI capabilities. There is more pressure than ever on these corporations to make 2021 a year to rebound from demand, workforce reduction, production, shipping and more. The use of holistic end-to-end Artificial Intelligence, namely Maestro AI, provides a bright and ready solution for unmatched speed to value. 

There has never been a time in modern history like 2020 where the increasingly urgent necessity for immediate solutions to business quandaries has been met with an equally robust solution as Artificial Intelligence. In the consumer space, we see this with AI enabled chatbots as a solution to the increasing customer service demands of consumers who are now spending more time than ever online shopping.

But what about a solution to address the onslaught of shipping as a result of shifted consumer purchasing habits due to COVID-19? Maestro is leading the way, helping shipping companies optimize their process from the warehouse down to the delivery route.

Source: Gartner

For further proof that the market, as a result of COVID-19, is responding to AI in leaps and bounds, the above information from a Gartner study of IOT implementation stated that 47% of respondents will be increasing their plans to implement to reduce costs.

In the commercial space, the use of AI in the pharmaceuticals and healthcare industry is top of mind, especially with the fast-tracked COVID-19 vaccines. An already overwhelmingly positive impact of AI, due to COVID-19, is the ability to develop vaccines and medications with greater speed than ever before, leading to change in the entire process of how we develop and test new medications for the future.

But could AI be the “vaccine” all industries need to improve future demand forecasting, prevent future disruption and stabilize now?

The answer is a resounding “yes”.

The increased demand for Artificial Intelligence has already been observed in 2020 and the adoption of AI will be widely implemented in 2021. Let 2021 be a year of digital transformation with Elutions as your partner. To learn more about specific case studies of Maestro Artificial Intelligence applied, please contact us.

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Crystal Ball 2021: AI to Solve the Unsolvable

We have never been closer to the precipice of a digital future than we are right now – this future is defined by those who make the commitment to move to a digitized environment and where those who do not inevitably fall behind. The trend towards Artificial Intelligence’s commercial use and application has been on the rise for several years, making businesses that were quick to adopt its power more productive and more efficient as a result. Business leaders must take action and make the choice in order to preserve the future of their business.

As we look toward an uncertain future, our third prediction for Artificial Intelligence in 2021 is revealed:

Applying AI to solve what were previously considered to be unsolvable business challenges as well as new business challenges from the evolving world we live in.

Crystal Ball Predictions 2021: This article emphasizes Solving Unsolvable Business Challenges

Artificial Intelligence is becoming more ingrained in our society on a daily basis and, as illustrated in the graphic below, the benefits are substantial. With a predicted spend of nearly $60 Billion in 2021 on cognitive and AI systems, it is important for business leaders to consider all challenges as opportunities in order to optimize the value-chain’s performance and profitability through Artificial Intelligence.

Statistics for 2021

61% of business executives currently implementing an innovation strategy say that AI helps them identify otherwise missed opportunity in data.

AI is helping businesses solve challenges they may not have known even existed, especially with holistic solutions such as Maestro AI, able to not only determine but take action on root cause variables. Today there is increased pressure on leaders to continuously improve performance with less resources, thus creating the perfect opportunity for digital transformation.

At Elutions, AI is the missing link in addressing a business challenge that is so great that even the most proficient teams of data scientists are unable to solve it. After all, the objective of AI, and is the case with Maestro’s AI, is to continuously ensure optimized outcomes with certainty, when so many dynamic variables impact operations that point-in-time analysis is irrelevant and the required speed, scale and depth of analysis is beyond human and standard algorithmic capabilities.

The upcoming new year, 2021, will kick off a massive wave for years to come towards implementing AI in all facets of business, particularly process heavy industries. Business leaders are prepared to capitalize on the benefits of AI and improve their productivity as well as decision-making capabilities.

To learn more about solving your unsolvable business challenges and Maestro Artificial Intelligence applied, please contact us.

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Crystal Ball 2021: The Digital Leapfrog

The term “leapfrog” may evoke childhood memories of playing on the playground where the idea of leaping over your friends like a frog leaping towards its destination made more sense than conventionally walking there. But in the context of technological advancement, you may be asking yourself, “what does leapfrogging actually have to do with digital transformation or Artificial Intelligence?”

Enter our second AI prediction for 2021:

Comprehensive Artificial Intelligence platforms, such as Elutions‘ Maestro, will act as a digital leapfrog to bypass outdated systems, investments in new infrastructure and out-navigating your competitors.

Holistic Al Digital Leapfrog Solving Unsolvable Business Challenges Combat Covid-19 Disruptions
Crystal Ball Predictions 2021: This Article Emphasizes The Digital Leapfrog

The concept of leapfrogging is not new, in fact it has been used in industrial organization and economic growth for many years. However, the concept of using new technologies, such as AI, to leapfrog various stages of technical infrastructure or development is quite revolutionary. The digital leapfrog makes the notion of gradual upgrades/ development obsolete and introduces the ability to disrupt the developmental stages with one huge leap past steps that may have otherwise taken years and significant financial investment to implement. The idea that growth must follow a linear pattern can be tossed aside with just one leap, if only a corporation is ready to make the jump.

Digital Leapfrogging has not been widely reported upon, written about or discussed by the consultancies and large tech companies of the world, for strategic reasons on their part. A simple google search will not produce much on the topic, but why?

The leading corporations of the world have made a fortune off of convincing businesses to follow the antiquated path of upgrading their “technological stack” or selling them on the notion that they need to purchase/ implement additional technology, such as data lakes, prior to adopting Artificial Intelligence. This approach has been utilized for many years as a tactic to get as much business from a single client as possible. This sales model has had a widespread impact on industrial purchasing and is ingrained in such a way that the digital leapfrog might seem impossible as it disrupts this entire process. Rest assured, the digital leapfrog is not only possible, taking the leap vastly increases a business’ speed to value.

The digital leapfrog presents the opportunity to use existing systems to “leap” past the competition, without additional cost, and into the future with Maestro Artificial Intelligence.

Our prediction is that, due to the uncertain times we are living in and the need not only for stability but also for exponential growth, the time of linear progression & upgrading the technological stack is long gone. Not only is it extremely costly to continuously invest in a tech stack, in most cases it is entirely unnecessary or made redundant when the end goal is an Artificial Intelligence implementation. In this day and age, many businesses are in desperate need of speed to value, something that only a digital leapfrog can provide.

Many industries are poised to benefit from Artificial Intelligence as a leapfrog, including Healthcare, Education, Telecom and Banking but those with the opportunity to use AI as a transformational leapfrog are Industrial & Chemical Manufacturing, Utilities and Oil & Gas corporations. Many manufacturers, utilities and O&G corporations run large, and sometimes international estates, with a multitude of plants or sites that may all have disparate systems, or existing infrastructure/ assets that varies in age, lifecycle and capability, the perfect environment for Maestro AI as a leapfrog.

It may all seem too good to be true, this is revolutionary and can be difficult to accept due to established procurement and purchasing habits that have been plaguing businesses for years, but it is possible with the right partner. Most leaders and organizations want breakthroughs but many of the large tech corporations are not willing to provide true innovation. The team at Elutions specializes in breakthroughs, using Maestro AI not only to leapfrog internal technological development with its ability to connect previously disparate assets, infrastructure and systems, but also to leapfrog past the competition with unrivaled speed to value.

In 2021 we will see a rapid increase of AI adoption as a digital leapfrog. Let 2021 be a year of digital transformation with Elutions as your partner. To learn more about specific case studies of Maestro Artificial Intelligence applied, please contact us.

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Crystal Ball 2021: A Push Towards Holistic Artificial Intelligence

According to the International Data Corporation (IDC), a premier global market research company, “Artificial Intelligence and machine learning are top of mind for most organizations today, and IDC expects that AI will be the disrupting influence changing entire industries over the next decade.” Given the important role that Artificial Intelligence will play in digital disruption in the coming decade, it’s important to define what AI really is.

There are many buzzwords in the AI space leading to confusion in the marketplace and a deep misunderstanding of what AI is and what it is capable of achieving. AI is not one thing, it’s a generalized term for software or a platform that can imitate human intelligence and can be applied in a virtually limitless number of ways. Buzzwords like, neural networks, deep learning, natural language processing and machine learning can all roll up into the tight little bow of Artificial Intelligence and they are the building blocks which an AI platform uses to “learn” for itself.

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A snapshot at how embedded AI already is in our day-to-day lives
Source

AI can be applied in many different ways. We see AI being applied in our everyday lives if we have a smartphone that uses facial recognition to unlock, an Amazon Alexa to tell us the news and through social media, take TikTok’s notoriously smart algorithms that make the platform so addictive. AI is all around us, even commercially, though the commercial space has been slower to adopt AI technologies.

The commercial space has predominantly taken a more ‘piecemeal’ approach to adopting digital technologies, yet to fully capture the benefits of true artificial intelligence due to the use of discreet solutions, like advanced analytics or automation only to target a piece of their full process. There are many use cases of automation on manufacturing lines or chatbots in the customer services department but what about a holistic end-end approach?

Enter the first AI prediction for 2021

Holistic, end-end Artificial Intelligence, like Elutions’ Maestro, will replace the currently isolated approach to adoption of discreet digital technologies.

Crystal Ball Predictions 2021: This Article Emphasizes Holistic AI

Leaving behind solutions, touted as AI, that only addresses one piece of the process, like predictive maintenance, and adopting true AI that is self-learning, self-adapting and applied in an end-end approach to drive and even automate actionable intelligence across the entire value chain is the way of the future. The piecemeal approach may have worked in the past but with the new normal we are living in businesses need to begin thinking about their processes as if they were living, breathing beings.

Let’s think about it this way, if an overweight patient goes to the doctor and they are experiencing knee pain, a pain killer or a cortisol shot might address the pain right away and in the short term, but what about addressing the root cause? The doctor can see the full picture and knows that for sustained change, the patient will have to lose weight to rid themselves of their knee pain.

Now, let’s apply this analogy to a manufacturing plant, the plant is the patient and Holistic Artificial Intelligence is the doctor. A discreet solution, one that perhaps only addresses maintenance, is only able to impact one specific point in the manufacturing process, this solution can only prescribe a painkiller. However, an end-end solution is capable not only of detecting the root cause of a maintenance issue, but also addressing the pain point, it’s chain effect on the process, prescribing and in the case of Maestro, automatically implementing a holistic solution.

A great approach for businesses to best take advantage of AI, whether they are a University, Manufacturer or an Oil and Gas corporation is to focus on outcomes and addressing pain points. Businesses must focus deeply on their individual challenges and use Artificial Intelligence to address them as a whole. For example, many manufacturers experience asset downtime and plant failure as a major site challenge, a challenge that can be addressed and significantly reduced, if not eliminated entirely, with a holistic end-end AI approach.

In 2021 we will see a rapid increase of AI adoption to address a host of challenges across the entire value chain. Let 2021 be a year of digital transformation with Elutions as your partner. To learn more about specific case studies of Maestro Artificial Intelligence applied, please contact us.

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December Series- A Look into the Crystal Ball: Artificial Intelligence in 2021

It’s hard to believe that another year has come and gone, given how strange 2020 has been, but here we are in December looking back on a trying year for many and looking forward to 2021. The team at Elutions, and Solve the Unsolvable, are looking into our Crystal Ball to make our predictions for Artificial Intelligence and the Digital Landscape in 2021. Get excited, because AI is trending up again in 2021.

Some of the large trends we see for 2021 include, a move away from discreet solutions to a holistic end-end approach, using AI as a digital leapfrog to reduce spending, using AI to address previously unsolvable problems, new use cases and finally AI as a way to continue to combat disruption from COVID-19.

A Look into the Crystal Ball: AI in 2021

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