Businesses across the world are digitally transforming. Most organisations are juggling innovation with daily business challenges and understand the need for more data-driven decision-making. However, even with all the technological solutions out there, many organisations continue to remain unsure about the adoption of Cognitive solutions for their business processes.
With the dawn of the Cognitive era, weaving cognitive solutions into business operations has become paramount and taking advantage of the humanlike understanding is key to beat the competition. Cognitive solutions are still maturing. While some early adopters of AI and machine learning have gained from these technologies, many CXOs are still evaluating the need of Cognitive solutions to stay ahead of the curve.
Cognitive technologies include artificial intelligence (AI), machine learning (ML), deep learning neural networks, natural language processing (NLP), rule engines, robotic process automation, and combinations of these capabilities for higher-level business applications.
If you are still struggling with the decision to adopt or not, read below. It is not too late to infuse your business processes and systems with AI, NLP or machine learning capabilities.
Begin your journey with these easy steps. Answer the first question to evaluate the need for your business. And then make sure to follow the next steps to make your business cognitive-ready.
What business problems am I looking to solve?
This the first step towards identifying the need. If your business deals with a lot of IoT data for example or you have to meet changing expectations of your customers (eg. Retail industry), then cognitive is the way to go. Typical CXO business goals include: optimising internal business process, making data-driven decisions, improving current suite of products and services, enhancing customer experience and more.
How does my infrastructure look?
A rock-solid data and network foundation is key for a great cognitive impact. Ensure that your business is infrastructure ready for the adoption.
How is my current data being evaluated?
You need to ask yourself whether you are making the best data-driven decisions. And to make those decisions, you need to make sense of your data, data that’s coming from disparate sources including visual elements such as images and videos. This is where cognitive solutions can make a big difference to your business decisions.
Is my organisation culture aligned with my vision?
Your team needs to be aligned with the thought that cognitive technology can augment and amplify human capabilities to solve complex business problems. They need to be made secure about what skills they bring to the table and how they continue to contribute to the business.
What does the investment look like?
A well-defined budget for your cognitive needs will help you stay on track with the expenses. Going all-in is not suggested until you are sure about what it takes to bring cognitive capabilities into the business.
Start with a simple business application eg: Enhancing your customers’ shopping experience with natural language processing.
Increase production capability of your manufacturing unit by enabling machines to augment human actions and judgement with robotics and cognitive technologies.
Survey the market, research on competitor businesses and take baby-steps. This is the right time to think of how cognitive solutions will impact your business outcomes. The surest way to mature in the digital age.
Exigo Tech is helping companies implement cognitive solutions one step at a time. Contact us today to know how your organisation can benefit from infusing cognitive capabilities into your business.
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