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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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Artificial Intelligence… A Buzz Word?

It’s a super-computer. It’s technology.  It’s a Computer Brain.  It’s a….Buzz Word?

Artificial Intelligence or “AI” is all the rage in consumer goods and services, and analysts say it will change the face of business forever, but what exactly is “Artificial Intelligence”. The market has failed to define what this ambiguous buzz word means, but yet investors are readily throwing billions of dollars at companies that claim to be “AI- Focused”.  According to the Financial Times,

“Companies branded as AI businesses have historically raised larger funding rounds and secured higher valuations than other software businesses. The median funding round for an AI start-up last year was about 15 per cent higher than for a software start-up.”

Financial Times

And yet investors struggle to understand what Artificial Intelligence means.  Is it the technology?  Is it the application?  Is it the result?

Artificial Intelligence has become a catch-all phrase for various types of computer and data science technologies and applications aimed at automating work and aiding in decision making.   Articles on the proliferation of AI in the enterprise market speak to the vast potential use cases, the efficiencies, the streamlined customer experience, but fail to define the technology. Instead, authors caveat their prophecies with statements which undermine the entire industry, “Granted, not all AI systems are alike. Some of them are relatively ‘dumb,’ because they use pre-determined inputs and outputs”.  Enterprise organizations have been leveraging “If/Then” logic programming for decades to optimize their operations, from PLCs on the manufacturing floor, to excel sheets in the board room or sales office.  Is a simple system that has pre-determined inputs and outputs anything more than a logic sequence? 

In truth, Artificial Intelligence is a combination of complex technologies which together have the power to change the way we do business, but how many companies have successfully developed the advanced integrated technology to deliver this seismic shift in enterprise value?  True Artificial Intelligence requires much more than a logic sequence – from system agnostic data connectivity, neural networking, autonomous data-cleansing, to machine learning, automated root cause analysis and continuously learning autonomous decision making and self-scripting technologies – the technology that will transform enterprise operations and ultimately, organizational value, has arrived, but true Artificial Intelligence is far less prevalent than a market summary would lead you to believe…