It is clear that digital transformation is no longer an option, but an inevitable part of businesses. It enables them to meet and effectively anticipate the needs of their customers and other stakeholders. Businesses can also work faster and in better ways to better compete in the marketplace.
According to research by IDCThe digital transformation market is expected to reach $6.8 trillion, and by 2023, 75% of organizations will have a comprehensive digital transformation strategy in place.
In addition, advanced technologies such as artificial intelligence (AI) are proving to be an essential tool in adapting to the changing landscape. The advanced learning algorithms used by AI help create solutions that help companies be more innovative, meet customer expectations and become data-driven.
In reality, 98% of those who used AI-assisted activities generated additional revenue, indicating that it is a smart move for companies to use this technology for digital transformation.
In this article, we’ll dive deep into understanding how AI can play a critical role in advancing your digital transformation journey.
How can AI help organizations accelerate digital transformation?
Artificial intelligence (AI) is a driver of digital transformation and includes innovations such as deep learning, machine learning and natural language processing. AI helps companies become smart enough to analyze data, anticipate the future, make accurate predictions, and automate routine tasks.
In this section, we’ll focus on some of the benefits of AI and how it helps organizations accelerate digital transformation† So, without further ado, let’s get started!
Smarter decision making
The success or failure of a business depends very much on the decisions made by its stakeholders. From what new products to roll out to when to hold a sale, every decision has the potential to make or break a business.
In the past, executives and business leaders often relied on what worked in the past or on their intuition to determine the next best move for their company. And while those strategies worked, they also involved a lot of risk.
But with AI, business leaders can make smarter decisions based on actionable, real-time information. AI systems can also help companies make insightful marketing decisions based on consumer behavior and forecasting trends and patterns to stay ahead of the competition.
In addition, AI-driven algorithms can process large amounts of data within minutes to provide meaningful insights, making the entire decision-making process easier and faster.
Data breaches and hacks can be an absolute disaster for companies. But integrating AI into core business processes can not only address, but also prevent, security breaches.
Using predictive insights and forecasting, AI technologies can help companies foresee when or how information may become susceptible to a breach. This, in turn, will enable companies to proactively strengthen security.
AI helps companies digitally transform their security strategies to secure every cloud, on-premise platform, network, operating system and application in production and supply chains.
Improved customer experience
AI helps companies better understand their customers’ needs and preferences. Using AI, you can discover trends in consumer behavior, product preferences, purchase history, and more, giving you a complete picture of your customers.
When you know what your customers want or want, you can customize their experience, gain loyalty, and grow your network of repeat customers.
In short, AI can give companies a clear and complete picture of their customers, which was almost impossible before.
Deeper data analysis
Modern companies are swimming in data, but are they getting the most out of it? While manual data analysis is a time-consuming process, AI systems can analyze massive amounts of data with remarkable speed. Using AI technology, companies can quickly find relevant information, identify trends, make decisions and make recommendations based on historical data.
For example, algorithms can quickly identify customer preferences, analyze the effectiveness of marketing collateral, and provide actionable insights based on that customer behavior.
Fewer human errors
While humans get tired, AI systems don’t deal with fatigue. The human brain can only focus on one task at a time before that focus starts to slip. When people get tired, they are most likely to make mistakes or make bad decisions. Repetitive tasks can be especially prone to errors – when a task is repetitive it is easier for people to lose concentration.
But AI systems don’t need to focus — they’re programmed for their function. And for the assigned tasks, AI systems eliminate the risk of human error, yielding more accurate results.
Artificial intelligence is here to stay, leading an industrial revolution to help businesses stay competitive and relevant in this ever-changing digital landscape. These were just a few of the ways AI is driving digital transformation across industries. As AI technologies get better, we’ll see more ways they can help businesses move forward. From gaining insight into customers to increased security, AI is definitely the future of digital transformation for businesses.
If you need help integrating AI technology into your core business processes and accelerating digital transformation across your business, contact a reputable software development company for your needs.
Andrea Laura is a very creative writer and active contributor who loves to share informative news or updates on various topics and brings great information to her readers. Since she has writing as her hobby, Andrea has brought out many interesting topics and information that attracts readers to unravel her article. Her content can be seen on many mainstream sites and blogs.