Artificial Intelligence for

Business Analytics

Tapomoy Das 1/15/13 Article

“The success of cognitive computing will not be measured by Turing tests or a computer’s
ability to mimic humans. It will be measured in more practical ways, like return on
investment, new market opportunities, diseases cured and lives saved.” - Dr. Kelly, IBM.

During 1955, in a seminar named “The Dartmouth summer research project on artificial
intelligence” organized by Professor John McCarthy, where the term “artificial intelligence”
came out as a part of the discussion on integrator between man & machine. During that time
John McCarthy, the Father of AI invented the LIPS programming language and that’s how AI
journey started.

Diagram 1: - Timeline of AI

Today, the computerized economy – with broad utilization of AI and Big Data – is
developing at a pace that far surpasses the worldwide economy. Due to rapid tecnology
revolution, we have now entered into industry revolution 4.0 wherer IOT & AI are the flag
bearer of the same. Today we see most of the big multinationals such as Amazon, Facebook,
Google, IBM are after AI. The simple reason is it has made business simple.

Key questions an AI-powred business intelligence can answer for business sectors ssuch as
FMCG:

❖ Marketing: -
1. Am I getting the corret ROI from the market spend.
2. Am I spending at the right time & place
3. Am I missimg oipportunities which can yield good results.

Page 1 of 5
 4. Is there a nrew segment I can target
5. Are my marketing efforts enoromously delivering results for competoitors.
❖ Sales: -
1. How can I forecast my sales better
2. How can I increase sales by increasing operational efficiencies
3. What kiond of promotional activities give me optimal results & where
4. What is my lost opportunitu of sales
5. Is my shelf space expenditure giving me the right ROI
6. What is the right prodciut mix for the store
❖ Sales: -
1. How can I analyze the truck load efficiency.
2. How can I easily identify which items went out of stock & when
3. How can I ensure that products are always available on -shelf
4. How to plan product transportation based on weather enviroment & forecast.

Page 2 of 5
 Fast
processes
and lots of
Collaboration clean data Incresed
Between Precision &
Private and Product
Public Sectors Innovation

AI-powerd
Smarter tech
software
to inform
solutions
decision-
both on & off
making Influenc of AI line
on Business

Competitive
Improved Advantages
cyber for First
security Apply AI
Correctly

A
Improved
streamlined
CRM
supply chain

Diagram 2: - Power of AI

Page 3 of 5
 How Artificial Intelligence Will Change Decision-Making for Businesses: -

Better Customer Service Management: -

With advanced Google Duplex, AI has the capability to come to be good enough to
absolutely mimic the human voice. So, rather than outsourcing customer service to some call
centre in the Philippines, it would be right in a business enterprise’s server room.

Data Analysis Made Easy: -

Extra analysed records equal greater facts to be used in making large business decisions in a
higher manner. It’s emerged as easy as feeding the huge datasets into the AI and waiting,
until the system gives out effects from the statistics, and what to predict from that.

Smart Financial Solutions: -

AI holds no inherent personal bias, which makes it even more treasured in making unstable
economic selections. No one should be making financial selections clouded with emotional
judgment. And fortuitously, AI is ensuring there’s a higher way for anybody.

Relief from Fraudulent Transactions: -

With Artificial Intelligence and Machine Learning, there’s now a manner to ensure finance
and e-commerce companies aren’t just reacting to fraud, they’re actively preventing it earlier
than it even occurs.

Conclusion

With Descriptive analytics, Predictive analytics & Prescriptive analytics Small to large
enterprises are leveraging the aforementioned AI power to improve the efficiency of business
processes and deliver smarter, more specialized customer experiences. It’s rapidly
transforming different industries, powering modern decision-making & offering better
insights than ever before. AI-powered software has delivered terrific adjustments within the
commercial enterprise international. Although the destiny stays hazy, businesses have to don't

Page 4 of 5
forget to embrace AI-primarily based BI tools on the way to keep them competitive inside the
tech-powered enterprise landscape.

Page 5 of 5