CHATGPT: THE AI SENSATION TAKING OVER THE BUSINESS WORLD
Move over Twitter/X, there’s a new AI in town and its name is ChatGPT. In just 5 short days, it racked up an astonishing one million users – a milestone that Twitter/X took a massive two years to achieve. The pace at which artificial intelligence is taking over is almost unrivaled, and its impact on businesses cannot be understated.
Businesses are racing to grab a piece of the AI pie, with a third of organizations already using generative AI and 40% planning to increase their investment in artificial intelligence, thanks to some incredible advances. Whether it’s automating business processes, engaging with customers on a personal level, or specific industry use cases like ML-backed fraud detection in banking, AI is the game-changer businesses have been waiting for.
PROCESS INTELLIGENCE: THE MISSING LINK
But there’s a missing piece to the AI puzzle: Process Intelligence. This layer allows AI to understand how processes interact and impact each other across departments and systems, and it’s the enabler for AI. By using process mining to reconstruct the data that business processes leave in systems, Process Intelligence informs the large language model about company business rules, makes it aware of common causes of process breakdown, and pairs it with object-centric process mining to create models for counterfactual situations.
APPLYING AI ACROSS INDUSTRIES
Process Intelligence has infinite use cases, and they extend to AI for IT operations, life sciences, and the energy industry. It helps companies streamline IT processes, optimize data infrastructure, improve processes, and tech stacks for shorter mean time to identify and repair issues. In life sciences, it aids in diagnostics and predicting what drugs will work best for specific patients. And in the energy industry, it provides the ability to forecast demand, allocate resources intelligently, and predict maintenance needs before they arise.
REAL-WORLD EXAMPLES
Vodafone is using emerging technologies, including AI and data-visualization tools, to make its global procurement process more effective, while Ocado Group is using Process Intelligence in conjunction with its high-tech portfolio to optimize processes and unlock cash value.
AI AND PROCESS INTELLIGENCE: A MATCH MADE IN HEAVEN
By combining process mining with AI, enterprises create the business partners they need to drive truly valuable transformation. And the benefits are tangible, from improving process efficiency and quality to unlocking cash value with a projected hundredfold return on investment.
THE FUTURE OF AI
AI is not a bolt-on for business anymore; it’s a necessity. By feeding Process Intelligence to AI, enterprises will unlock its full potential, creating a competitive advantage for customers and employees alike. But what do you think? How will the future of AI impact businesses and industries? Let me know in the comments!
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