Enterprise AI solutions

4 Ways Enterprise AI Solutions can Fuel Business Growth

Kinetic global business leaders have implemented AI strategies in businesses and have become an epitome of success. According to a study, a lot of business managers consider that Artificial Intelligence would profit their organization by reducing costs and increasing opportunities. 84% of respondents also believed that Al will lend a competitive advantage to their business.

In this blog, we would cover the 4 basic benefits of integrated AI strategies that can disrupt businesses and help them grow.

4 Benefits of a well-integrated AI strategy

  • Better Business Decisions

Infobesity and capacity constraints are a bad combination for the growth of an organization. It is believed that artificial intelligence consulting services can mitigate the impact of this bad combination on business decisions.

AI can enhance information processing and amplify capacities of business and therefore businesses can level up their efficiency of decision-making.

  • Better Customer Experience

AI has capabilities to prepare a business for its customers. Through Artificial Intelligence, the tracking of customers’ activities is easier than ever. Many businesses are already leveraging this tool to improve their products and services. KFC, in collaboration with China’s Google Baidu, has launched an AI-equipped facial recognition system. The system tracks customer preferences and can be further used to predict what customers would want to eat at a particular time of the day.

A large proportion of businesses have also unleashed the capacities of AI in automating customer interactions and making real-time assistance possible. A Canada-based telecommunications company increased its customer satisfaction by 65% by integrating chatbots into its operations. AI can greatly contribute to enhancing the customer experience.

  • Better Data Quality

AI can only help businesses collect more relevant, high-quality data but it has also changed how businesses eye and process big data. Many businesses have leveraged Enterprise digital strategy advisory services and have devised an integrated AI strategy to enrich data quality.

With enhanced capabilities related to data tracking, arranging, processing, and mining, businesses can amplify their business opportunities and increase their profit shares.

  • Better Business Operations

The AI potential use case stack offers a lot of other untapped applications. These can transform and automate business operations, making businesses more cost-efficient and resource-efficient than ever.

AI can help in better business decisions, customer experiences, data quality, and business operations.

Prepare your business for tomorrow’s transformative world with Enterprise AI solutions offered by Millennial Partners.

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 via our e-mail at info@millennial.ae.

Digital Transformation Strategy

Need for an Effective AI Strategy to Fuel Business Growth during Crisis – Part 2

In the last part, we studied how an effective AI strategy can play a crucial role in recovering from the adverse consequences of an unexpected event. In this part, we will study the strategic areas that need to be taken into consideration to devise a successful AI digital transformation strategy to prepare a business for recovery and growth.

2 Key Strategic Areas to Consider for a Successful AI Strategy

  • Discover and Develop New Business Competences Powered by AI

A well-planned response to a crisis is crucial to scale business growth. To counter the market turbulences and develop a measured comeback, businesses need to identify the remodeling needs of customers. Following this, appropriate measures can be taken by kinetic competitors and markets to reciprocate to them.

Today, businesses with physical offerings are shifting to digital twin solutions to limit the physical contact and curb the spread of the Coronavirus. By combining enterprise AI solutions and AI-powered digital platforms, businesses must step beyond their comfort zones and analyze places where value can be derived.

  • Integrate AI into Core Business Prototype

Businesses that fail to implement effective AI strategies into their operations are more likely to limit their ROI. A careful end-to-end view of business operations is preemptive to recognize areas for AI integration.

The current black swan event characterized by the Coronavirus is opined to bring an ecosystem-level change. Businesses that would devise a digital transformation strategy with AI integration to reset and rescale the plan and operations would eventually earn huge profits. In the long term, embedding AI into core functional areas would radically increase efficacy in operations.

Embrace Enterprise Artificial Intelligence Solutions from AI Consulting Specialists

An effectual AI strategy to recover from the COVID-19 crisis surpasses building lightweight, beta mode algorithms or addressing ad hoc business trends or problems. Partnering with a leading AI consulting specialist would help businesses revive and rise back stronger.

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 via our e-mail at info@millennial.ae.

Enterprise AI solutions

Need for an Effective AI Strategy to Fuel Business Growth during Crisis

2020 has been a tough year, bringing lamentable loss to lives and businesses.

The sudden knock of the COVID-19 pandemic was characterized by dire consequences, deeply affecting the businesses’ momentum. The strategies devised by even the biggest businesses of the industries stood defunct in the face of the health threat crisis followed by the grand global lockdown implemented in more than 20 countries.

Business Transformation during the Time of Crisis: The Need And Pace

Given the belief of authorities that contactless operations could curb the spread, the businesses couldn’t depend on their traditional practices. This resulted in a growing need for digital technologies and digital transformation strategies.

Business transformation at the inopportune time of crisis won’t be the same as it is under normal circumstances. According to a survey by Harvard University, senior executives of 70% of 1,000 companies stated that pandemic would accelerate business transformation and that it would be the only way to combat the economic effects of COVID-19 on businesses.

Why is now the best time to come up with Fresh AI Strategies?

The unforeseeable hit by the black swan event left the previously planned strategies lifeless. It is time to devise an intelligent strategy that could prevent businesses from short-term negative effects and help them adapt to the permanent effects of the crisis.

The following points would reveal how the current situations are favorable to a vertical change:

  • Mitigated Market Reaction for Experimentation

Since the focus of the world is on the crisis and its effects, and markets are at a recovery phase, the sheer disruption that the vertical business strategies could bring normally to the effect is mitigated for a brief time period.

  • Favorable Changes in Almost-Flattened Customer Adoption Curves

It is evident that customers are generally reluctant to abrupt changes and require considerable time to adopt new processes. However, since the crisis has had a major effect on the population, the spirit to compromise and adjust is escalated. Businesses can harness that spirit to create a positive change for themselves and customers.

  • Crisis-Characterized Readiness to Change at All Levels of Organization

The internal business teams work in silos and are reluctant to change. The most kinetic business managers and shareholders demand immediate profits. Now that the black swan has had its massive effect on businesses, the urgency to revive has leveled-up the readiness to embrace changes at all levels within organizations.

Recover and Gain Profit with best Enterprise AI Solutions

Given the current unprecedented scenario, the need for business transformation cannot be overlooked. Businesses that stick to unshakable inertia and hope everything would snap back to normal would eventually land out of their cloudland or would have to shut-down.

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 via our e-mail at info@millennial.ae.

asset tokenization advisory

How is Asset Tokenization Redefining the Financial Industry

Tokenization of assets is poised to disrupt various industries, in particular the financial industry. It will redefine the way people invest in assets – from art to buildings. Those who are not prepared for asset tokenization are more likely to lag behind.

What is asset tokenization?

Asset tokenization refers to the process of issuing blockchain tokens, specifically security tokens. These tokens digitally typify a real-world tradable asset and are issued through Security Token Offerings (STOs). A security token represents a share in a company or ownership of a piece of property. The security tokens are then traded on the secondary market.

With the increase in the popularity of asset tokenization, the demand for asset tokenization advisory services is also increasing. Businesses are leveraging the experience and expertise of asset tokenization professionals to reap the benefits of a new token economy.

How is asset tokenization reshaping the finance industry?

Asset tokenization forges the path for a more efficient and transparent financial world by mitigating the friction present in the process of creating, buying, and selling securities. The following are the ways by which asset tokenization is bringing a shift in the financial industry.

  • Greater Liquidity

The issuers of tokens harness asset tokenization consultancy and development services to tokenize their assets – especially private securities and illiquid assets like fine arts – and easily trade their tokens on a secondary market. Access to a large number of traders improves the liquidity of assets, enabling both issuers and investors to capture greater value from the underlying asset.

  • Quick and Cost-efficient Transactions

The transactions of tokens are driven by smart contracts, which are software programs written to trigger actions when certain conditions are met. The smart contracts automate transactions, reducing the administrative burden involved in the process of token buying and selling, with the need for fewer intermediaries. This results in quick transactions and lower transaction fees.

  • Greater Transparency

Security tokens are embedded with token holders’ rights and legal responsibilities, along with an immutable record of ownership. This results in transparent transactions and provides a clear picture of token holders’ rights and who previously owned a particular token.

  • More Accessibility

Tokens are highly divisible, which means that investors can buy tokens that represent significantly small percentage of an underlying asset. This enables the investors to enter the market, even with small investment amounts.

Take away

Tokenization has the potential to make the financial industry more accessible, accelerated, cost-efficient, and simplified, thereby unlocking trillions of funds in currently illiquid assets and elevating the volumes of trade.

At Millennial Partners, we offer asset tokenization consultancy and development services to help businesses embark on their journey to tokenize their assets. Whether you want to tokenize real estate, art piece, commodity, or any other asset, we help you accomplish your goals with our mission-driven solutions.

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.

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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.

artificial intelligence consulting services

How can AI Reshape the Future of Banking?

Artificial Intelligence (AI) is a set of technologies built to imitate and enhance human intelligence. It is a system that can assess and understand the data that it ingests and suggest actions based on that assessment.

AI’s potential is huge across the banking value spectrum – from driving better data-driven decisions in the back office to applying human intelligence to enhance automation in the middle office, to directing interactions in the front office to enable a better customer experience.

Harnessing Artificial Intelligence can bring the advantage of digitization to the banking industry, helping them to edge out the competition given by FinTech players. According to a report, 32% of financial services providers have already leveraged artificial intelligence consulting services to implement AI technologies like predictive analysis and voice recognition into their business operations.

AI is considered the future of digital banking as it empowersindustry players to combat fraudulent transactions and augment compliance by leveraging advanced data analytics. It aids banks with efficient management of huge volumes of data, concurrently deriving actionable insights from them. AI algorithms facilitate the identification of anti-money laundering activities in a few seconds, unlike conventional processes that take hours and days. Furthermore, features like biometric fraud detection mechanisms, AI bots, and digital payment advisors forge the path for quality customer services, leading to reduced costs and increased revenue.

AI is enabling banks to gain essential competitive edge through:

  • Predictive operations

AI enables banks to predict the future based on past behavior analysis. This helps banks with easy identification of fraudulent activities – such as identity theft and anti-money laundering –further enabling them to make customer recommendations. Additionally, AI helps detect suspicious data patterns among large volumes of data, thereby driving efficient fraud management. Realizing these benefits, many banking institutions across the globe have adopted AI by partnering with professionals offering digital transformation consultancy services.

  • Effective decision-making

Cognitive systems designed to think and respond like human experts provide favorable, real-time solutions based on data available. Banks are harnessing the potential of these systems to make strategic decisions.

  • Process automation

It enables automation of information-sensitive, error-prone, and cost-efficient banking services such as claims management. This alleviates costs, enables accurate and accelerated processing of services, and secures ROI.

Take away

AI will bring profound, positive changes to the banking industry by driving intelligent automation. The technology will enable banks to combine human and machine capabilities optimally to achieve operational and cost efficiencies and deliver customized services. By adopting Artificial Intelligence, many leaders of the banking industry have already capitalized on the opportunity to reap the benefits of AI.

Millennial Partners offers business-oriented artificial intelligence consulting services, helping global enterprises to integrate AI into their business operations. Backed by in-depth domain knowledge, rich experience, and a cross-functional team, we navigate and accelerate your AI development journey.

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, which includes incorporating the most cutting-edge technologies such as enterprise Blockchain, Artificial Intelligence, and Iinternet of Things (IoT).

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

AI and Blockchain Fueling the inception of the Fourth Industrial Revolution

AI and Blockchain: Fueling the Inception of the Fourth Industrial Revolution

AI (Artificial Intelligence) isbringing profound, positive changes to the world by redefining the way businesses compete, grow, and succeed. Simultaneously, blockchainis reinventing business processes, enabling confident and secure access to shared data between organizations. The combined power of AI and blockchain will enable organizations to expand their boundaries and tap into a significant amount of trapped value. Realizing the potential of AI and blockchain, many global enterprises are embracing digital transformation consultancy services to benefit from what these ingenious technologies have to offer.

Together, AI and blockchain are fueling the beginning of the Fourth Industrial Revolution by redefining information exchange. They are poised to offer transformational outcomes across diverse industries, including healthcare, supply chain, government, and more.

Let us explore how AI and blockchain can drive a revolutionary shift across various industries.

  • Supply chain

As goods move through production and supply networks, they have to traverse through various jurisdictions and industry players, connect advanced and emerging economies, and comply with various laws and standards. This adds to the complexity and cost of goods.

Blockchain-driven digital identity has the potential tosimplify the supply chainresulting in higher costefficiency. Digital identity for participants, goods, and locations in a supply chain enables provenance and trackability throughout the supply chain. With a digital representation of real-world assets and monitoring data related to those assets as a single and shared source of information, product improvements can be achieved. Instead of collecting the data in siloes and sharing them across various stakeholders,data can be shared across relevant stakeholders.

The integration of AI into the platform can further enable the use of various algorithms to feed the data and improve the supply chain.

  • Healthcare

AI is transforming the healthcare industry by redefining diagnosis and treatment planning. Many healthcare companies have leveraged digital transformation strategy consulting services to implement advanced technology solutions into their operations.

Smart machines can improve healthcare services but people are reluctant to share their personal data. Blockchain-powered systems enable secure and shared access to health data, allowing patients to retain ownership of their data and gain access to it as and when required. Through this, the patients will rest, assured that their data is encrypted, protected and at the same time, they can leverage AI-enabled personal care.

  • Smart devices

With the advancement in technologies, our lives are integrated with smart devices. Blockchain and AI will together drive decisions on how these devices operate and transact. The proliferation of sensors can be expected to ingest real-world information and AI will be leveraged to improve devices’ understanding based on the data.

Take Away

Blockchain, combined with AI, can together deliver new levels of data accessibility, trust, and security. Many organizations who haveembraced these technologies are running pilot programs. As companies unlock the trapped value, it will fuel the adoption of AI and blockchain technologies. Companies should act now to gain first-mover advantage and amplify their revenue.

Millennial Partners offers digital transformation consultancy services to help global enterprises with blockchain and AI integration. Our customized development solutions, in line with your business requirements, navigate your development journey – from use-case identification to development and deployment.

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

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