TECHNOLOGY AS AN ASSET
Driverless cars assure to transform transportation, but something like machine learning promises to modify everything. Intelligent systems that can learn from experience have applications in just about every phase of life. In healthcare, researchers affirmed that machine learning systems could accurately classify echocardiograms up to 92% of the time. In contrast, human doctors can only do so 79% of the time.
As automation technology has advanced, so has its accessibility. Advances in general language processing promise to analyze AI from purely technical settings and integrate it with more aspects of daily life. Amazon has sold 100 million Alexa-enabled appliances, and almost every household technology staple is now available in a “smart” model.
I’m positive about this new era of Automation, but I’m also cautious. Forward thinkers have continuously acknowledged that technologies have the potential to conceive challenges as well as resolve them. If we’re going to recognize the highest potential of AI and Automation, we need to not only acknowledge the worst aspects but also do our best to avoid them.
When Isn’t Automation An asset?
We don’t need to envision a futuristic scenario to see what lousy Automation looks like. Most of us are already overwhelmed with robocalls something that connects the annoyance of telemarketing with the persistence of Automation. Robocalls may cut labor costs, but they alienate customers in the process. Unfortunately, this is just one of many examples of Automation, delivering shortsighted solutions.
Bad Automation has made the news in improving too.
It’s a common misunderstanding that AI is free of human prejudice. However, tools designed to automate candidate choice have been confirmed to exclude women and others because the algorithms they rely on are human creations full of complex prejudices. In that way, AI can amplify the faults of humans rather than exclude them.
Technology an Asset Implementing the Better Automation of Tomorrow.
Companies that want to leverage it efficiently need to look for accurate applications, ones that deliver value for both the business and the end-users. If you’re looking to implement AI and Automation, I recommend the following best practices to ensure that technology is an asset, not a burden:
1. Embed-User
If the technology is customer-facing, you must first make sure it’s addressing a customer’s in point. Otherwise, it’s not likely to be much more than an annoyance.
Focus on precision, not just volume.
As an example, the database being used to feed chatbots, robocalls auto-mailers information about customers must include their history and all touchpoints and interactions with the business to avoid repetitive communication. In the case of financial institutions, for instance, if a person has already been denied a line of credit, they shouldn’t receive mailers that continue to make that same offer.
Technology as an Asset. Ensure your marketing department’s CRM software and customer database are linked and regularly cross-checked with those in related departments. To avoid the above case, the underwriting and marketing departments should be sharing data to avoid annoying potential customers.
2. Avoid Out-Of-The-Box Solutions
Even if you entrust a third-party vendor to implement Automation for you, someone on your staff should have a solid understanding of the algorithms, training sets, and metrics used to fuel the technology.
No automated system is a purely out-of-the-box solution.
Every business has various inputs, processes, and other variables, and each tool should be fine-tuned accordingly. An employee who understands both the unique challenges of your company and the technology itself will be able to liaise between you and your automation partner.
Also, to identify where Automation will boost efficiency, the management or technology-positioned employees should be able to define the process that’s set to be automated clearly. If they can’t outline the inputs, the means, and the expected output, the process is not yet ready to be fully automated. These tools require to be built with certain standards in mind and fine-tuned to meet specific needs.
3. Prove the Business Case
Establishing the business case can be difficult with AI and Automation because an increase in another may offset a reduction in one set of costs.
It’s easy to assume a business process that uses a certain amount of human labor and takes a certain amount of time. Sometimes, automated systems can lower both of those things – but not always. The automated system may speed up the process. However, the human labor required to monitor and support it may increase, along with material input, utility, and technology costs.
The point is that automating just because you have the resources to do so is not a productive strategy.
To know whether your business should automate, crunch the numbers to assess long-term value. Examine the full costs of employees who might be replaced – including insurance, pensions, office space, etc. – as well as the total expected savings of the new technology, including increases in the quality of your outputs. https://www.maxfront.com/2020/02/13/benefits-of-technology-in-business/
Technology an Asset Our automated future appears inevitable, but that doesn’t mean the development will be easy. Some companies will thrive because of Automation, and others will stumble for the same reason. The difference usually depends on which players are genuine. Instead of approaching Automation like a panacea, companies should see it for what it is: a tool with tremendous potential if it’s used in the right ways. https://web.facebook.com/maxfronttech/posts/2534885443418110?__tn__=K-R