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.

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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.

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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.

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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!

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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

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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

Blockchain

Artificial Intelligence: Redefining Possibilities across Business Functions

Artificial Intelligence: Redefining Possibilities across Business Functions

Blockchain

Artificial Intelligence (AI) drives significant value across the business, especially in cost reduction, customer experience, and revenue generation activities. The successful integration of Artificial Intelligence in a business can unlock new opportunities and help accomplish business goals. Owing to the massive potential of AI, digital business is expediting interest in AI at a pace that many global enterprises are partnering with subject matter experts for artificial intelligence consulting services to identify AI use-cases and run pilot programs to witness the impact that AI can make on their operations.

Let us explore some ways Artificial Intelligence is unleashing new possibilities and delivering meaningful outcomes across industries.

Supply Chain

With the evolution of customer expectations and preferences, supply chains relying on legacy systems are facing challenges delivering the right products to their customers without affecting their margins.

Artificial Intelligence empowers the supply chain industry to cater to changing customer demands while achieving global efficiency. AI delivers solutions that help augment visibility across the supply chain and create a customer-oriented operating model that is more transparent, agile and efficient. The data-driven insights help improve precision forecasting and enhance decision-making, enabling businesses to innovate around customer demands.

Healthcare

The healthcare industry is shifting toward a new science landscape and emphasizes delivering consumer-oriented services. Incumbents can capitalize on the opportunity to take the lead by harnessing the potential of AI to deliver more efficient, effective and affordable healthcare solutions.

Artificial Intelligence helps the healthcare industry to generate insights and devise intelligent processes to deliver top-notch customer experience at a cost-efficient price. The technology can help healthcare professionals deliver improved patient care with precise chart reviews to augment care planning. Additionally, AI can enhance operational efficiency by enabling optimized scheduling, improved processes, and streamlined management of patients’ claims and payments.

Customer Engagement

Today, the leaders providing customer services struggle to craft great experiences that users expect.

Artificial Intelligence can empower businesses to unlock new insights and create intelligent processes as well as strategies to deliver excellent user experience at a cost-efficient price. The technology holds massive potential to transform customer interactions – from payments and account maintenance to troubleshooting to support. Businesses can harness the power of AI to reinforce their workforce and delight their customers.

Revenue Growth

Industries like retail and consumer goods and media & entertainment need to be relevant to fuel revenue growth. As consumers constantly assess the options available, businesses must stay relevant to build credibility and capture new opportunities to grow.

AI-based solutions can provide businesses with real-time, data-driven insights that could not be seen before, thereby enabling businesses to devise new strategies and capabilities for growth.

Take Away

Artificial Intelligence is poised to augment quality, improve efficiency and productivity, accelerate implementation, and save costs. Businesses that act now are more likely to gain first-mover advantage in terms of better customer acquisition and growth.

At Millennial Partners, we offer mission-driven artificial intelligence consulting services to help global enterprises integrate AI into their existing processes to improve efficiency, deliver better customer services, and amplify growth.