Opinion

Discovering AI applications

Ashok Panda | Updated on October 20, 2021

It can be used in design, hiring, accounting and sales

Deploying AI capabilities helps enterprises define, democratise, and de-risk their transformation journeys. AI can quickly build on the opportunity while scaling with new technological advancements. It can transform various stages of the lifecycle, from development to deployment and use. Innovations in natural language processing, sensors, robotics, edge computing, machine learning, deep learning, and image recognition offer new ideas to design, create, deliver, market, and use high valued products and services.

Engineers are using AI algorithms and cloud computing to create solutions with infinite alternatives. Advancing design through generative design explores different design directions based on inputs like design goals, materials, cost constraints to generate design alternatives quickly. It also tests the alternative designs through multiple iterations and learns what works.

AI can enable robots to understand and respond to physical environments. Companies can take advantage of conversational AI and process bots to create virtual agents to manage business operations. These significantly improve efficiency and increase customer satisfaction as virtual agents use AI to pull up customer history and ask relevant questions, giving faster relevant responses.

AI-powered coding

AI has introduced new conventions in computer programming with significant productivity, quality, and speed gains. AI-powered language models such as Open AI’s GPT-3 can generate functional code from task descriptions, helping generate understandable business logic from millions of lines of legacy code within minutes.

Targeted advertisements, predictive analytics, and personalised suggestions are powerful AI tools for marketing. For successful communications marketers can segment their customers’ profiles using AI technology to understand what motivates them.

AI can bring in a lot of interesting tools to help sales agents reimagine the process of sales. From customer information to price optimisation, lead scoring to sales forecasting using ML to increase accuracy.

AI has proven to be invaluable in predicting employee satisfaction. Businesses are extensively using AI in their recruitment processes, from candidate profiling to assessment and selection. AI can also help identify attrition patterns and help formulate retention strategies.

AI can free up a lot of slack in functions such as accounting and finance and free human potential for strategic operations. By using Computer Vision and Natural Language Processing (NLP) to process documents faster, AI can provide real-time updates on financial matters aiding swift decision making. Auditors are also using ML to analyse contract documents such as lease and sales.

New AI-based solutions are delivering process efficiency and enhancement. They bring product and service innovation across different phases of the value chain. AI is helping enhance customer experiences and provide better services. Organisations are working with hyperscale cloud services to go from experiment to building enterprise-wide solutions.

They are making sure AI is explainable, responsible, and democratised. AI can also be used in digital learning platforms for reskilling to help employees evolve into makers of AI.

New questions have emerged around the risks of ethics and responsibility around AI technology. Businesses can rely on the rich ecosystem of consortium and regulatory bodies driving AI directives for implementations compliant with regulatory and security norms like analytics model interoperability, bias detection, and continuous performance monitoring.

Enterprises must expand their AI cloud, access open-source AI software as a service (SaaS), and harness edge AI capabilities by efficiently using enterprise-wide data and train models ecosystem.

A rich repository of industry-wide use cases and an ecosystem of start-ups and partners working on Applied AI solutions and platforms can propel an organisation in its AI ambitions.

The writer is Associate VP & Global Head - AI and Automation Service, Infosys

Published on October 20, 2021

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