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Originally Posted On: https://www.lpa.com/blog/ibm-watson-solutions-ai-for-the-c-suite
The future of business is Artificial Intelligence. AI is transforming the meaning of business innovation. It is re-writing business models and redefining productivity and risk preparedness. Information is power, and AI solutions empower business leaders to make better use of their ton-loads of information to make accurate projections and automate repetitive predictive tasks.
Great opportunities reside in the vast amounts of data created every day in your organization. AI enables you to leap in front of your competition and make significant strides into the future. A future in which you and your organization reap exponential growth from smart, insight-driven decisions. We see the most success with our clients turning to AI when:
- You need data-driven insights to stay ahead of the competition
- Automation is critical for efficiency, revenue growth, and cost reduction
- You need increased transparency and accountability in your financial and manufacturing process
- Growth and expansion into new markets requires an in-depth understanding of trends
- Enhancing the customer journey requires tracking their buying habits and understanding their preferences
- Compliance with your industry regulations demands real-time monitoring, anomaly detection, and reporting
IBM Watson Studio
The IBM Watson Studio is an integrated AI environment complete with open source tools and developer solutions from the IBM cloud. For its well-balanced predictive analytics and machine learning features, the IBM Watson Studio was named as a leading solution in the Forrester Q3 2018 Wave report.
Digesting your vast amounts of data for meaningful information is easy, as the CEO, imagine understanding buying trends and predict profits in 3 steps:
- import your data,
- run the analysis using the Watson data modeling feature, and
- view the generated models.
With the resulting insights, you can track patterns in your business and stay on top of market trends.
IBM Watson Machine Learning (WML)
Currently, 51% of businesses have already implemented ML, and 49% of organizations are considering deploying it. So, rest assured that you’re not alone in your investigation and interest in a better, faster, smarter approach to strategic decision making. IBM Watson Machine Learning is a ready-for-deployment solution that can accelerate the efficiency and practicality of data science in your business environment.
CEO’s are seeing value in Machine learning to help:
- Simplify and shorten the customer journey
- Shorten the time in data entry and reporting
- Expedite detection and analysis of anomalies in financial transactions and processes such as loan underwriting and portfolio management
- Improve efficiency in preventive maintenance in manufacturing
Machine Learning and Watson Assistant
With the Watson Assistant solution, like ML capability and ease, C-suite executives with no coding experience can build and deploy a chatbot in minutes. The Watson Assistant AI solution makes it possible to have human-like interactions for customer service through chatbots set up for your organization. The natural language processing capabilities of this AI assistant means that support will be consistent across all regions.
You can deploy the Watson Assistant to:
- Take over your routine and mundane tasks from messaging customers, scheduling events and making calls
- Improve sales conversations through an intuitive nurturing experience
- Improve customer satisfaction
- Improve your workflows
How to Choose the Right Watson Solution
Artificial Intelligence in Business is an opportunity that should be part of your business strategy as the CEO. You can start small, prove the use case then expand as appropriate. At LPA, we recommend to get started that you build a strategy and adoption roadmap in these four steps:
- Identify the critical business processes or problems that demand the Watson AI capabilities
- Find an analytics partner to help with your business readiness and set up
- Run a Proof of Concept to analyze Data Science & Artificial Intelligence capabilities versus your target use cases
- Outline future needs and applications based on findings
Your job is not easy, as the CEO it’s up to you to understand the data you have and make the most informed decision possible. The right AI solution will help you make better decisions, accelerate productivity, and ease your expansion into new markets. IBM Watson AI solutions are made for ease of use, and wide scope application.