banner3

Industries ripe for the adoption of Artificial Intelligence

Artificial Intelligence (AI) promises a new age of disruption and productivity, where human intellect is augmented by speed and accuracy. The technology has the potential to offer profound results across various industries – including healthcare, construction, real estate, and more. Many industry leaders have realized the potential of AI and are leveraging Artificial Intelligence consulting services to integrate AI into their business operations.

Here are 5 industries that are ready to embrace Artificial Intelligence.

  • Marketing

Marketing companies can harness the potential of Artificial Intelligence to devise better and well-informed marketing strategies. AI categorizes customers as per their interest or demographic and marketing companies can capitalize on this opportunity to target ads to their customers based on their browsing, consequently providing their customers with what they are seeking. In addition, the power of AI can be leveraged through chatbots that can help solve problems, suggest products or services based on customer interaction, and support sales.

  • Sales

Artificial Intelligence can equip sales professionals with actionable insights that can enhance the sales function. AI improves sales forecasting, anticipates customer needs, and enables better communication. Additionally, AI-enabled machines facilitate time management for sales professionals, simplifying it for them to identify who they need to follow up with and which customers are easy to convert.

  • Research and Development

Nearly every industry – such as pharmaceutical, healthcare, finance, agriculture, and more –is involved in research and development (R&D). Artificial Intelligence can automate various tasks and forge the path for novel discoveries as well as better ways to deliver improved products and services. Companies involved in R&D can harness digitaltransformation consultancy services to integrate AI into their businesses for more strategic and effective operations.

  • IT Operations

AI for IT operations, also referred to as AIOps, is the application of machine learning and data science to IT operations problems. AI can be used for IT system log file error analysistogether with IT systems management functions, and automate various routine processes. The technology can help identify issues upfront, helping IT professionals to proactively fix them before they lead to any serious problem.

  • Human Resource Management

AI has the potential to revolutionize various human resource activities – from recruitment to talent management. It can not only boost efficiency or alleviate the operational cost by automating repetitive tasks but do beyond this. AI-powered robots can interview candidates for any job position. In addition, AI can assist the human resources department with data-driven decision-making, thereby simplifying the recruitment process.

Take away

AI has immense potential to transform nearly any industry. More businesses are embracing AI and are generating real rewards from them. However, unlocking those benefits requires visionary leadership and the right technical partner.

We, at Millennial Partners, offer comprehensive Artificial Intelligence consulting services – from use-case identification and solution implementation to deployment – enabling enterprises to benefit from the disruptive AI technology. We leverage our domain expertise and technical prowess to deliver meaningful outcomes that fuel your business growth.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its 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.

digital transformation strategy consulting

Industries Ripe for the Adoption of Artificial Intelligence – Part 2

In Part 1 of this blog, we talked about five industries – including Marketing, Sales, Research and Development, IT Operations, and Human Resources – that are ready to embrace Artificial Intelligence (AI).

In this blog, we will outline five more industries prepared to ride the digital wave of Artificial Intelligence.

Contact Centers

The contact center of an organization is one of the areas to have already adopted Artificial Intelligence. Organizations that have leveraged Artificial Intelligence consulting services to integrate AI into their businesses in the right way are the ones that harness AI to augment their operations rather than replace humans. These centers gather a large amount of data to learn more about their clients, analyze customer behavior, and predict the “next best action” for their users to ensure better customer engagement. In addition, machine learning can be used to analyze the unstructured data collected from contact centers to identify customer trends and then enhance products and services.

Building Maintenance

Another industry to benefit from AI technology is Building Maintenance. The technology is enabling facilities managers to optimize the use of energy and for the comfort of occupants. Building automation, which involves the use of AI to manage buildings and control lighting and heating or cooling system, leverages internet-of-things devices, and sensors to track buildings.

Manufacturing

Many companies, such as Heineken, use data analytics at every step of their manufacturing process – from the supply chain to inventory tracking. Predictive intelligence can help anticipate demand and improve the production while sensors on equipment can predict maintenance needs. AI helps identify and address areas of concern in the manufacturing process, preventing them from turning into costly issues.

Accounting and Finance

Many organizations are utilizing digital transformation strategy consulting services for AI use-case identification and solution implementation, realizing how technology can help alleviate the cost and enhance efficiency. According to Accenture Consulting, robotic process automation can be a great solution for the accounting and finance industry. While it can free-up finance professionals from repetitive tasks and reduce human errors, it can also provide real-time status of financial matters since it can track communication using natural language processing.

Customer Experience

According to Forbes, top fashion brands like Burberry are harnessing the potential of AI to enhance sales and customer relationships. The company uses loyalty and reward programs to collect shoppers’ data and then uses this data to offer customized recommendations to its customers – whether they shop online or in brick-and-mortar stores.

We, at Millennial Partners, offer all-inclusive Artificial Intelligence consulting services – from use-case identification and solution implementation to deployment – enabling enterprises to benefit from the disruptive AI technology.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its own proprietary frameworks. Our digital transformation offering is most relevant to the increasingly digital enterprise and consumer environments. We follow a coherent roadmap that includes 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.

Digital Transformation Consultancy Services

How can blockchain become a building block for next-gen healthcare services

Blockchain can be identified as a consensus-based immutable, secure, and decentralized database technology that holds significant potential to fortify the different commercial and non-commercial sectors. The disruptive technology has already been revealing remarkable revamping abilities while it is being integrated into several industries. Market forerunners of numerous industries have already started reaping rewards with the help of business transformation consulting services.

Blockchain bears the potential to be the next best thing in Healthcare. It is now the turn of the healthcare sector to adopt this sensational distributed ledger technology. According to BIS Research, the global medical market expenditure on the blockchain is expected to reach USD 5.61 billion by 2025.

Top 2 ways in which blockchain technology promises supernormal upsurge in efficiency through its integration into the current healthcare scenario

It is opined that the blockchain revolution would steer the conventional glitch-rich medical scenario to the next-gen efficient echelon.

  • Healthcare Data Distribution and Management

The US reports medical errors as the third big reason behind the fatalities. The reason is very clear. During the lifetime of a patient, he submits his crucial medical reports and details to various health institutions and due to the absence of a common data management system, the mass integration of data related to a patient’s health history becomes a fiasco.

Subject matter experts offering business transformation consultancy services suggest that immutable blockchain technology can enable the sharing of the same data to an unlimited number of parties with just an “add to” access. No party can delete a record permanently and all this efficiency comes with utmost security, promptness in operations, and cost-efficiency.

  • Medicinal Drug Development and Supply Chain Monitoring

Despite regulatory restrictions and certificate compulsion, second-rate drug manufacture has acquired a large proportion of the US drug market. On the other hand, if we talk about the developing countries, 1 in every 10 medical products is found to be counterfeit. The problem is incapacitating the drug market and is standing as a risk to global healthcare.

Top-notch digital transformation consultancy services suggest that globally adopted blockchain can improve the traceability and transparency to a large degree. From impeding of falsified certifications to connecting the strands of unalterable data, blockchain can instill an unparalleled level of efficiency in operations.

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

Our global and experienced team is available via e-mail to proffer solutions and answer questions regarding technological advancements and digital transformation!

business transformation consulting services

Strengthening Business Operations with Blockchain

Since the emergence of the digital era, businesses worldwide have been seeking ways to enhance theiroperations by upgrading their technology infrastructure. What motivates these businesses to embrace technology modernization is the ability to simplify complex operations while driving innovation. Today, businesses are trying to comprehend what role emerging technologies like blockchain can have in their business and are thus leveraging business transformation consulting services.

According to International Data Corporation (IDC), worldwide investment in blockchain was $2.9 billion in 2019 and is anticipated to soarto $12.4 billion in 2022.

Businesses are investing in blockchain to remain competitive and bring value across three main value dimensions – such as enhanced productivity and quality, increased transparency, and redefined products and processes.

How can blockchain help improve productivity and quality?

  • Auditability

Blockchain offers a shared ledger of transactions, providing all parties with full traceability of operations. Businesses can not only alleviate their auditing cost but also increase confidence in data that they produce while eliminating the need for manual data validation.

  • Data management

Blockchain holds immense potential to improve data management in three areas, including:

  1. Data provenance and accuracy by providing complete information about digital assets and relevant data.
  2. Data integrity by enabling authenticated access to the network and easy identification of data manipulation or tampering.
  3. Data aggregation and organization by enabling easy sharing of real-time data from a single data source.
  • Payments

Blockchain brings transparency to payments and eliminates the need to manually audit and track payments. Smart contracts automate payments and streamline the process, thereby removing unnecessary transactionprocessing cost.

How can blockchain help increase transparency?

  • Data sharing

When data is retained in silos and rarely shared between organizations, it loses its value and verifiability. Blockchain enables trading partners to share real-time data, the history of data,and any changes made in data.

  • Transparency

The distributed ledger of the blockchain technology empowers designated parties to view real-time data. With enhanced transparency, businesses can enhance their decision-making process and seamlessly track the outcome of their decisions.

  • Trust

Blockchain enables and automates trust through cryptographically securing information and providing transparency.

How can blockchain help improve processes and products?

  • Authentication

Blockchain’s public and private key cryptography help authenticate users across multiple networks, thereby increasing confidence in the overall network.

  • Identity management

As more and more business transactions are conducted online, blockchain eliminates reliance on physical documents to establish user identity. Ithelps build digital identity and the idea is gaining rapid global traction. Businesses are leveraging digital transformation consultancy services to implement digital identity verification processes.

  • Marketplace creation

Blockchain brings more confidence in products and services while leveraging distributed ledger, smart contracts, and digital assets to enable real-time peer-to-peer transactions.

Millennial Partners offers business transformation consulting services to help global enterprises with blockchain and AI implementation. We bring our rich technology experience and complement it with our technical prowess to deliver mission-driven solutions that provide meaningful business outcomes.

Millennial Partners (millennial.ae) prides itself on serving clients’ most pressing organization transformational needs across people, processes, and technology through its 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.