By Sanjay Khatnani, Managing Partner, J2 Solutions featuring guest contributors Brianna Bird and Angelo Brutico
Business Process Management is one of today’s most discussed business topics—and a key ingredient to a company’s overall success. Today, I’d like to discuss how to get even more from your BPM tools through Artificial Intelligence (AI), and how it can support your bottom-line results.
BPM was initially designed and implemented by businesses looking to drive greater efficiencies and reduce costs. But as cloud computing and Big Data has continued to mature, recent digital transformation trends have dictated a greater focus on the customer experience. That’s where AI technology comes into play. By connecting AI to existing BPM programs, companies can be even more efficient in their business processes and deliver a better product to the customer.
What is AI and how does it help improve business processes?
In the simplest terms, AI is the ability for machines to act like humans. (Think Alexa or Siri.) With these intelligent machines working for them, consumers have a virtual personal task manager that can take notes, schedule appointments, direct them from point A to point B and even order from a home delivery food service. In other words, AI makes our lives a whole lot easier.
Take Domino’s, for example. This billion-dollar U.S. pizza chain knows what it means to deliver a superior experience to their customers. Through AI-based technology, Domino’s customers can easily order a pizza, browse through a menu or find hours of operation via voice command from a smart phone, computer or digital assistant. The end result for the customer: an easier way to get a meal on the table.
On the surface, that’s what AI does—it creates a happy customer. But beneath the surface, there’s more to the story. While BMP is effective at automating structured processes, AI can convert unstructured data to something more organized. With that, patterns in data can be uncovered, predictive information can be delivered and customers can be tended to in a way that matters to them.
Why predictive information matters
A company’s website contains an abundance of detailed data about those who have viewed, clicked through and downloaded information. Yet much of this data tends to be ignored, leaving otherwise vital information untapped. By using machine learning, businesses have a way to organize and utilize all that detailed data about customers. These insights can help predict future behavior down to the individual customer so a business can design the most targeted marketing strategy to optimize their marketing spend, create a richer, more meaningful experience for their customers and uncover new revenue opportunities.
Is AI the future of the workforce?
AI, though powerful and extremely useful, is not meant to replace humans. In fact, any system is only as good as the people supporting it. While automation plays an important role in an efficiently run business, it’s only a piece of the puzzle. The value of human judgment in decision-making will always be the most important factor for any organization. While AI can predict, it is humans who make the informed decisions based on those predictions.
Many organizations like Domino’s are riding the wave of machine learning to stay ahead of their competition. When mapped to a tight business process, AI helps the business automate their processes, uncover actionable insights and more effectively reach and service their customers. A customer who feels valued and heard is a customer who will keep coming back for more.