The robots are here: How AI and ML automation can solve business problems

Businesses of all sizes struggle to adopt AI and ML automation into their operations, and smaller companies are concerned that such cutting-edge technologies are too complex or costly for them.

In reality, AI and ML technology help us conquer the complexity of an increasingly globalised and digitalised world, even during the most challenging times.

Suddenly vast swaths of the workforce began working from home, and digitalisation became a high priority. Implementing and deploying advanced technologies is key for businesses of all sizes to re-establish business resilience and reinvent the way they do business.

Businesses are often turning to technology solutions to automate repetitive and mundane tasks. But that’s just a start. In the pursuit of more nimble organisations, business leaders want to leverage predictive analytics to more accurately forecast budget and make strategic decisions. Another crucial factor driving the need for intelligent technologies today is creating better employee experience. Our expectations about productivity will only increase. At the same time, we are living through the most stressful and anxiety-filled period in recent history. We have to give people tools that make it easier to do everything we ask them to do while at the same time encouraging a better work-life balance.

How to quickly move to an AI-enabled organisation:

1. Zero in on busywork, requiring repetitive processes, where there’s the possibility of manual error and low job satisfaction.
2. Ask yourself “Is this a widespread problem?”
3. Take a look at best-in-class partners; chances are they already integrate intelligent technologies into their solutions.

Here’s how intelligent technology and AI can help your business:

• Mitigating risk and compliance in employee spend: Intelligent technologies can streamline changes to policy, embedding new rules into the workflow. AI robots can scan transactions and identify risk and compliance issues that could expose your business to fines and reputational risks.
• Auditing: Intelligent robots can look at every line item, cross-checking them against multiple databases, faithfully executing each step of the process. Then, in partnership with people, they serve up exceptions to human auditors who can solve problems instead of finding them.
• Managing taxes: Intelligent technologies, along with embedded tax knowledge, can automate the compliance process, automatically checking transactions against local tax regulations and finding significant reclaim opportunities.

The journey to AI does not have to be complex, expensive, or chaotic because other companies may have already developed what you need. The fast path to AI and ML is to leverage the solutions already available, tested, integrated and used by thousands of other businesses.

Download this white paper to learn what to consider when thinking about AI and ML solutions and tips on choosing the right technology partner for your business.