<img height="1" width="1" style="display:none;" alt="" src="https://dc.ads.linkedin.com/collect/?pid=306561&amp;fmt=gif">

Digital Transformation: Where Data, Analytics, and AI Converge

Written by Corinium

Digital Transformation: Where Data, Analytics, and AI Converge

Written by Corinium on May 16, 2018 3:22:40 PM

AI Analytics Article News

Technology waits for no one. And those who strike first will have an advantage. The steady decline in business profitability across multiple industries threatens to erode future investment, innovation and shareholder value. Fortunately, the emergence of artificial intelligence (AI) can help kick-start profitability. Accenture research shows that AI has the potential to boost rates of profitability by an average of 38 percent by 2035 and lead to an economic boost of US$14 trillion across 16 industries in 12 economies by 2035.

Driven by these economic forces, the age of digital transformation is in full swing. Today we can’t be “digital to the core” if we don’t leverage all new data sources – unstructured, dark data and thirty party sources. Similarly, we have to take advantage of the convergence of AI and analytics to uncover previously hidden insights. But, with the increasing use of AI, we also have to be responsible and take into account the social implications.

Finding answers to the biggest questions starts with data, and ensuring you are capitalizing on the vast data sources available within your own business. Thanks to the power of AI/machine learning and advanced algorithms, we have moved from the era of big data to the era of ALL data, and that is helping clients create a more holistic view of their customer and more operational efficiencies.

Embracing the convergence of AI and analytics is crucial to success in our digital transformation. Together, AI-powered analytics unlock tremendous value from data that was previously hidden or unreachable, changing the way we interact with people and technology, improving the way we make decisions, and giving way to new agility and opportunities. While businesses are still in the infancy of tapping into the vast potential of these combined technologies, now is the time to accelerate. But to thrive, we need to be pragmatic in finding the right skills and partners to guide our strategy.

Finally, whenever we envision the possibilities of AI, we should consider the responsibility that comes with it. Trust in the digital era or “responsible AI” cannot be overlooked. Explainable AI and AI transparency are critical, particularly in such areas as financial services, healthcare, and life sciences. The new imperative of our digital transformation is to balance intelligent technology and human ingenuity to innovate every facet of business and become a smarter enterprise.

This article is an extract from ‘The Innovation Game: How Data is Driving Digital Transformation” You can download the full report here:

By Narendra Mulani
Chief Analytics Officer
Accenture Applied Intelligence

Related posts