Digital transformation and Artificial Intelligence (AI) are among the biggest buzzwords in the world of technology in recent times as organizations continue to embrace these technologies quite enthusiastically. As per a report from International Data Corporation (IDC), worldwide expenditure on the technologies and services that facilitate digital transformation is likely to hit the $2 trillion mark in 2023. Similarly, surveys suggest that the implementation of AI has increased by around 270% in recent years.
Digital transformation and technologies like Artificial Intelligence and Machine Learning often go hand in hand. AI posts various benefits to the digital transformation process.
A survey-based report titled “Human Amplification in the Enterprise” by Indian IT giants Infosys states that 98% of companies who used AI-based activities to power digital transformation reported that it had generated additional revenue for their organization and have raised the bottom line by around 15%. The report states that the biggest impact came from AI as it helped to reduce the average time spent on executing daily activities and help in making better decisions with lesser errors. AI can analyze complex data and make accurate decisions based on that data, proving to be a valuable asset in the digital transformation process.
Organizations might sometimes consider leapfrogging the entire digital transformation as it goes hand in hand with AI. However, this is not wise and can cause adverse impacts. For any company to successfully achieve complete Digital Transformation, a certain amount of digital maturity is mandatory. When companies are looking at ways to transform their existing business process to a smart, digital way, Artificial Intelligence can lend a helping hand.
Here are a few use cases of Artificial Intelligence in digital transformation:
Digital organizations are customer-centric. Hence, improving the customer experience should be the top priority of your digital transformation agenda.
AI and ML technologies offer various opportunities in delivering meaningful, personalized experiences, tailored to fit specific customer needs. This helps the customer to engage with your organization on a deeper, more personal level.
The practical applications of this use case are varied. From analyzing data and feedback to determine your customer’s sentiments regarding your organization to implementing specific solutions like chatbots to cater to the customer needs to provide them with a personalized experience.
Process optimization is a speciality of AI which can make a huge impact in the traditional business process. By using automation, repetitive tasks can be put on autopilot. As a result of this, the employees will get more time to focus on more important tasks.
Using AI, ML and robotics, various tasks like marketing, sales, and customer support, to accounting and administrative tasks can be automated. Thus, AI in digital transformation will be helping the employees to be more productive.
AI and ML are key technologies which allow organizations to detect malicious behaviour and anomalies that may indicate a breach in the security systems. Plus, algorithm-based systems are more reliable than human security checks, which are prone to more errors. Thus, the AI-powered digital transformation process proves to be more effective in managing the cybersecurity of your organization.
Implementing digital transformation to your traditional business practices is the need of the day. Innovative technologies like AI and machine learning play an important part in decision making and predictive analysis, thus proving to be suited for the digital transformation process. Curious to know more about how AI could benefit your organization. Contact us for free digital transformation consulting.
What are the 4 pillars of digital transformation?
There are 4 main pillars of digital transformation. They are:
- Empowering The Employees
- Engaging Your Customers
- Optimizing The Operations
- Transforming The Products
What are the 3 ways AI can aid Digital Transformation?
Artificial intelligence (AI) can aid the digital transformation process in three ways. They are:
- Dynamic Analysis
- Faster Processing
- Driving Economies At Sales
What is AI?
Artificial intelligence (AI) is the simulation of human intelligence processes by machines, helping us to make better decisions based on the analysis. AI is applicable in almost every industry and plays a key part in digital transformation.
What is meant by Digital Transformation?
Digital transformation is the process of integrating digital technology into all areas of a business, changing the operation and delivering value to customers.
How digital transformation impacts companies?
The digital transformation will impact the way firms enter and compete in the market, making the process cheaper. The competition will drive innovation, helping in the progress of the organization.