I was talking to a head of marketing at a mid-sized enterprise about the generic trends and what’s making him lose sleep when he thinks about his work. The immediate response was around catching up with the behavior of millennials and technology. He felt that there is a strong linkage between the two and his focus is gradually shifting from core operations to IT-enabled operations. He felt that he is running many software initiatives than marketing initiatives.
I think he is bang on with his understanding of changing trends and shift in focus areas. With the democratization of technology, enterprises are quick and agile to catch up with changes and adopting technology trends. At OptiSol Datalabs, we have been working on many AI and ML-based research and development activities and interacting with many large enterprises and SMEs across verticals for validation and implementation. Few inferences based on our experience:
1. Process Automation using chatbots or voice bots is the key focus area of many organizations. Using text analytics and learning/coaching, the bots can execute many activities across verticals like marketing, customer service, HR related processes, etc.
2. We found major interest in inbound/outbound marketing activities, HR process, customer facings support activities, etc. These activities enable organizations to ‘personalize’ their interactions – like a chatbot that knows the user profile ahead of a conversation and personalizes the interaction.
3. Smart enablement via vision analytics is another focus area where they try to enhance organization/employee safety and compliance to regulations. Computer vision uses images in real-time from cameras for facial recognition, person/object detection, post/gesture analysis etc.
4. A lot of interest is shown around safety in the production floor using real-time images, like monitoring personal protective equipment violations, gestures, injury-prone postures etc.
5. We are also witnessing a lot of interesting use cases around voice bots with conversational AI in service sectors like restaurants, financial service firms, etc.
6. Another vertical that is way ahead in innovating using AI & ML is healthcare. Together with IoT, and data analytics, we have encountered many interesting use cases on predictive modeling, variation analysis, ensuring hygiene using vision analytics etc.
7. Financial trading and ML-based algorithms is another exciting use case and we have leverages a couple of platforms along with dataset either to automate or make smart recommendations on trading
Contrary to the popular belief that Artificial Intelligence & Machine Learning will replace human resources, it is our perception that it will elevate human productivity by liberating them from mundane tasks and empower them to reskill and add more value to their job roles. Most of the use cases, prototypes and actual implementations that we have done so far are making life better for every stakeholder by accelerating productivity, ensuring safety and compliance, enhancing decision-making skills by leveraging data and on top of it, manage the behavior of millennials.
OptiSol Datalabs is a CoE from OptiSol with a focus on AI & Machine Learning-based initiatives and we have been doing lot of interesting applications and we are planning to open-source many of our models. You can get in touch with us if you are interested to explore further. Let us make the world better!
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