Artificial Intelligence Consulting Services

Artificial Intelligence: Redefining the Supply Chain

The supply chains of most of today’s enterprises are built on archaic technologies that are over 20 years old. They are beset with inefficiencies like lack of end-to-end visibility, real-time response, and efficient data sharing among participants.

Conventional supply chain organizations operate in silos and emphasize the optimization of a specific segment of the supply chain rather than the entire value chain. Thus, these organizations need to redefine their operations to break silos, achieve end-to-end visibility, and craft a better collaboration model.

Artificial Intelligence (AI) has great potential to help supply chain organizations overcome challenges with traditional processes and bring profound, positive changes across the supply chain. As enterprises are realizing the importance of AI, the demand for Artificial Intelligence consulting services is increasing.

How can AI drive supply chain transformation?

Supply chain organizations can put data at the core of their operations to chart a path for new processes and capabilities. Artificial Intelligence is poised to drive the revolutionary shift in the following ways:

  • End-to-end visibility

Artificial Intelligence can help organizations manage supply chain complexity. The technology can empower businesses to capture, process, and use structured and unstructured data to gain real-time visibility. Supply chain organizations can harness the power of AI to centralize data and decision-making.

  • New performance engine

Artificial Intelligence enables powerful resolution engines based on real-time analysis to automate supply chain functions and optimize transactions. AI can process data in large quantities to enable real-time supply chain management modeling. When a change occurs, the engine can determine the impact of the change on key performance indicators and make instant, well-informed decisions to achieve business outcomes.

  • Agile decision-making

The current supply chain activities are carried out manually. The integration of AI into the existing supply chain process can create models that are data-driven, collaborative, and platform-based. Participants can share real-time data and qualitative information across the supply chain and review reports and discuss implications. Enterprises that wish to harness the potential of AI can leverage digital transformation consultancy service to identify the use-cases and implement the solution.

  • Better performance management

Ingenious analytics redefines how the performance is gauged and managed. Apart from tracking conventional functional metrics, supply chain organizations can analyze the impact on their business outcomes. They can leverage predictive scenario modeling to assess the business impact of various options, such as missed supplier shipments, promotional campaigns, or corrective plans.

Take Away

Enterprises that integrate Artificial Intelligence into their operations and ride the transformational shift are sure to leverage benefits like complete visibility across the supply chain, better collaboration model, real-time resolution of issues, and ability to deliver on consumer requirements with speed, efficiency, and accuracy.

Millennial Partners offers mission-driven Artificial intelligence consulting services to help global businesses with AI integration. We follow a coherent roadmap to drive your AI development journey and fuel your business growth.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. Our digital transformation roadmaps include incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out on our e-mail at info@millennial.ae

Artificial Intelligence consulting services

Revitalizing Healthcare with Artificial Intelligence

The global healthcare industry has to meet various needs – of patients who have now become active participants from earlier being passive consumers; of physicians trying hard to satisfy the needs of these patients; and of insurance providers who are charged with streamlining healthcare models and payments to cope up with evolving healthcare services and financing models. Artificial Intelligence (AI) can empower the three key players to collaborate effectively and benefit each other.

Artificial Intelligence, which can potentially transform any industry, is gaining rapid adoption worldwide. The overall Artificial Intelligence market is predicted to reach USD16.06 billion in growth by 2022 at a CAGR of 62.9% between 2016 and 2022.

Realizing the potential of AI, many businesses across diverse industries are embracing the technology to augment their operations. Enterprises across the globe are leveraging Artificial Intelligence consulting services to identify AI use-cases and run pilot programs.

Application of Artificial Intelligence in Healthcare

The healthcare industry is witnessing the release of AI-powered health plans; however, organizations need to consider their business value, technology maturity, and the potential of AI across the value chain to choose the right use-case for implementation.

Owing to new technological developments and big data, Artificial Intelligence is poised to bring a profound, positive change in the healthcare industry.

  • Enhancing patient engagement models

The increased engagement of patients in healthcare is more likely to deliver better health-related outcomes. Research reveals that the more a patient is engaged in healthcare, the more likely they will adopt preventative measures. This leads to fewer chances of patients getting hospitalized or requiring emergency healthcare services.

By harnessing the potential of apps and online portals, the healthcare industry can ensure better communication between healthcare providers (HCPs) and patients, which can further improve the engagement rate by 60%. Healthcare apps that collect, store, and share patients’ data over the cloud provide HCPs and patients with round-the-clock access to data.

Patients can leverage the apps to input details about their health and the apps can check the information shared by patients against an extensive database of information on diseases. As a result of a comprehensive data analysis, the apps can suggest measures that can be taken by the patients to alleviate the condition.

  • Increasing system efficiency

Of late, many health insurers planned to exit health insurance exchanges due to expensive medical treatment that prevented people from taking health insurance.

Healthcare organizations can leverage business transformation consulting services to identify the right areas to integrate AI for clinical support. This can forge the path for streamlined hospital workflows and enhanced healthcare delivery. It has the potential to improve healthcare outcomes by 40% while reducing the treatment cost by 50%.

The application of Artificial Intelligence can benefit nearly every area of healthcare. Whether through intelligent care management or reducing the treatment cost, AI holds massive potential to deliver meaningful, transformational outcomes across the industry. Many of the enterprises have begun to comprehend the benefits of Artificial Intelligence and are navigating from mobile-led transformation to AI-led transformation.

Millennial Partners offers mission-driven Artificial Intelligence consulting services, helping global enterprises to embrace AI and harness its potential to bring value across their operations. Our intelligent AI strategy, complemented with a coherent roadmap, helps you to identify the right use-case and prepare your business for tomorrow.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. Our digital transformation roadmaps include incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out on our e-mail at info@millennial.ae

Enterprise blockchain consultants

Use-cases for Blockchain in Supply Chain

Supply chains are beset with enormous complexity due to the multitude of document copies duplicated between parties. Tracking, reconciling, and verifying a huge database of inventory, purchases, bills of lading, invoices, shipments, and receipts is challenging. However, blockchain technology can potentially drive value to the supply chain industry, offering substantial cost and efficiency benefits while eliminating problems with reconciliation, miscommunication, and poor contract enforcement.

Realizing the benefits of blockchain, supply chain companies are upgrading their business operations and partnering with enterprise blockchain consultants to integrate blockchain into their business operations.

How can blockchain reinvigorate the supply chain industry?

Blockchain use-cases for the supply chain industry explain how blockchain can potentially transform the industry. These use-cases are applicable across the supply chain and offer benefits that differ by organizations.

  • Transparency and traceability

Blockchain provides unparalleled traceability. This helps mitigate traceability and transparency issues across the supply chain industry, allowing the companies to make well-informed decisions. The information related to the products is stored in a blockchain-based system that makes the data immutable and easily shareable, providing supply chain players with complete track-and-trace capabilities. Companies can use this information to provide proof of legitimacy for products.

  • Increased efficiency and reduced cost

The global shipping processes are extremely complex due to the involvement of multiple stakeholders with conflicting interests. For example, a shipment of refrigerated goods from East Africa to Europe traverses through approximately 30 people and companies, with over 200 different interactions among the participants. Thus, there is an indispensable need to streamline the shipping processes. Blockchain holds massive potential to mitigate problems in the shipping process, providing transparency, visibility, and tamper-proof records of goods across the supply chain. Many enterprises, leveraging business transformation consulting services, are working in this direction to harness the potential of blockchain to enhance their efficiency and productivity.

  • Smart contracts in logistics

A smart contract is a blockchain-based application that ensures the accountability of stakeholders in the logistics ecosystem. Smart contracts hold stakeholders’ pre-agreed rules of transactions and processes. Moreover, smart contracts accelerate custom clearances and approvals, reduce intimidating paperwork, and build security and trust among the stakeholders by implementing compliances to the already formulated and agreed rules of transactions.

Take away

Early investment in blockchain technology can help enterprises gain an essential competitive edge. However, for successful blockchain implementation, enterprises need to comprehend blockchain capabilities, select the right starting point for their industry, and harness the value of blockchain with a functional use-case.

At Millennial Partners, we operate as enterprise blockchain consultants, helping businesses with blockchain integration. We follow a coherent roadmap to identify and pilot blockchain use-cases, and implement blockchain solution.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. Our digital transformation roadmaps include incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out on our e-mail at info@millennial.ae

FinTech global consultants

Use-cases for Blockchain in Real Estate

Blockchain adoption is on the rise in the real estate industry as market players realize its potential to drive more transparent, efficient, and cheaper operations across the industry. Many real estate companies across the globe are leveraging consultancy for enterprise blockchain to steer the implementation of blockchain into their business operations to benefit from the technology. 

The following are blockchain use-cases for the real estate industry that elucidate how blockchain is poised to revitalize the industry.  

Digital identity verification

When it comes to leasing or sale transactions, significant time is spent on due diligence related to financial and legal review. This is because of the use of paper documents for proof of identity. These documents are stored in silos and offer limited flexibility to be customized to cater to diverse needs. 

The blockchain-driven digital identity verification process can mitigate problems with physical identity proofs and accelerate pre-transaction activities such as financial assessment, acquiring a mortgage commitment, and more. 

Asset and cash flow management

The current asset management process is beset with complexities due to dependencies among property managers, landlords, tenants, and vendors. Right from the initiation of a lease process, various payment and service transactions have to be executed, tracked, and recorded regularly.  

The execution of a property lease using a smart contract can mitigate various challenges related to asset and cash flow management. A smart contract is a self-executing contract with the terms of the agreement between two parties being directly written into lines of code. The use of a blockchain-based smart contract can bring transparency to the lease process and transactions. 

Enterprises across various industries have partnered with professionals offering consultancy for enterprise blockchain, in order to identify smart contract use-cases for their businesses. 

Finance and payments

Payments and money transfer for real estate transactions are time-consuming and expensive due to extensive documentation and involvement of multiple-channel partners. Furthermore, for a cross-border transaction, foreign exchange fees and involvement of various intermediaries increase transaction costs and processing time.

Blockchain-powered smart contracts and digital identities can potentially alleviate inefficiencies and increase transparency in real estate payment processes. It can provide a series of complete, traceable, and immutable records that aid in the audit trail of transactions, such as ownership history, mortgage payments, and property cash flow. 

Take away

Although still in its infancy, blockchain seems destined to redefine the operating models across the real estate industry. Enterprises evaluating an upgrade of their current systems should have blockchain on their mind as its potential and usefulness can bring value to the industry. 

At Millennial Partners, we serve as FinTech global consultants, helping enterprises with end-to-end blockchain implementation. We follow a coherent roadmap – from use-case development to solution implementation to deployment – to efficiently navigate the blockchain transformation journey for our clients.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. Our digital transformation roadmaps include incorporating the most cutting-edge technologies and vendors focusing on technologies such as enterprise Blockchain, Artificial Intelligence, and IoT.

Should you have any questions and or would like some focused professional advice, please don’t hesitate to reach out on our e-mail at info@millennial.ae