Cognitive India

 

How AI is transforming Indian business, economics and engagement - IBM Institute for Business Value

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India is uniquely positioned to succeed in the artificial intelligence (AI) economy. By dramatically expanding human capabilities, AI has the potential to amplify – perhaps exponentially – India’s demographic advantages. With 10-12 million new workers joining the Indian labor force every year, the leverage that can be provided by AI-augmented productivity expansion is little short of remarkable.

 

  • 91% of India’s cognitive innovators are realizing value from both structured and unstructured data, compared to 82% of other India respondents
  • 97% of India’s cognitive innovators indicate that they are already cultivating the skills needed to adopt cognitive computing, compared to 74% of other India respondents
  • 97% of India’s cognitive innovators recognize the need to change employee roles as cognitive computing evolves, compared to 81% of other India respondents

Building an AI ecosystem

  

Sales
Applied to sales, AI can help organizations improve efficiency of customer-facing services, expand customer account management capabilities, increase cross-sell and up-sell opportunities and – through richer contextual understanding – improve the efficiency of lead management.

Supply chain
AI or cognitive capabilities can help companies improve insights for decision making; build trust in the type, quantity and quality of goods purchased, delivered, received and invoiced; and reduce working capital needs to support commerce. They can also help logistics professionals better predict the likelihood of impacts on the supply chain, anticipate actions needed and more accurately predict potential future issues.

Customer service
AI or cognitive computing can help companies connect more deeply with customers through automation of vast amounts of information. Not only are organizations able to identify customer attitudes, needs and desires, they also can better anticipate and resolve issues to create even higher levels of customer satisfaction.

Finance
In the finance function, AI or cognitive computing can help mitigate risk, proactively prevent fraud, and accelerate and improve due-diligence processes for new suppliers. It can increase cash on hand by accelerating payment cycles and by substantially improving decision making for regulatory compliance through natural language processing, machine learning and automated reporting.

Human resources
Cognitive computing can significantly improve payroll and benefits administration efficiency, as well as workforce planning. Through advanced linguistics and machine learning, cognitive capabilities also can increase recruiting speed and accuracy by instantaneously providing a 360-degree view of a potential candidate via social media and other channels.

Manufacturing
In manufacturing, AI or cognitive computing capabilities can unlock valuable insights from dark data – which is acquired through various computer network operations but not used in any manner to support decision making – in failure reports, as well as highly intelligent automation. They can integrate new sources of Internet of Things (IoT)-based sensor data and improve the productivity of field engineers through access to more granular analysis and insights in real time. And they can reduce production outages through better, more insightful analysis of equipment data.

Marketing
AI or cognitive computing can process vast quantities of data, helping organizations more accurately identify target audiences and leverage a variety of channels for campaigns. Better, faster, richer automation of research across multiple channels, including those channels with unstructured data, enables market researchers to spend more time on strategy and execution, as opposed to mechanical tasks and basic analysis.

Innovation
AI helps organizations formulate hypotheses, identify and validate new ideas, accelerate and deepen scenario envisioning throughout incubation, and make unexpected associations. Specific activities might include: sourcing existing patents, engaging entrepreneurs to build new products and services that better monetize enterprise assets, or drawing upon new investments for other geographies or parts of an industry.

For more: https://public.dhe.ibm.com/common/ssi/ecm/47/en/47018547usen/47018547usen-01_47018547USEN.pdf

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