May 15 by Elliott Yama
Artificial intelligence (AI) and machine learning systems are increasingly being used to augment human brainpower. And, while the technologies for augmented intelligence have been around for some time, they are just now finding their way into mainstream applications in business.
According to a recent study by Morgan Stanley, AI and Machine Learning have become “a top 10 spending priority” for corporate CIOs.
In fact, almost half of the businesses surveyed said they are installing or testing AI and machine learning systems this year, which is a significant increase over the previous year. This is important because it indicates augmented intelligence is going mainstream, a point which is echoed by a recent piece in The Economist. The authors call out these technologies for powering conversational agents, product recommendations, forecasting, and approving transactions which can help drive top and bottom line results.
It’s no Mistake to Run AI 24/7
The mistake, however, that many businesses make massively limits the potential impact of AI, in many cases by less than half of what they could achieve. Why? Because AI is not integrated in the business process and its turned off at night or when no one is around. What are the keys to avoid this problem?
1. Start the Right Way: with tools that work the way business people work – using natural conversation – including both speech and text and are mobile (hello, smartphone)
2. Focus on The Payoff: with Middle Office business processes that drive top and bottom line results
3. Embed Insight into Business Processes: because it’s the fastest way to take action, increase automation and efficiency, like review and approval for custom quotes, etc.
4. Don’t Let Sales Sleep: with augmented intelligence that works around-the-clock to initiate action and orchestrate activity that increases productivity, drives revenue, reduces financial and operational risk.
This week, during our annual intelligent Quote-to-Cash event, Accelerate ‘18, we announced Max Proactive, a new set of applied AI capabilities that radically extend the ability of Apttus Max to help businesses increase productivity and grow revenue faster by extending selling and revenue-making activity around-the-clock.
Those familiar with Max know that it provides a conversational interface to interact with Apttus’ Middle Office Platform™ and machine learning that delivers intelligent recommendations to sales, legal and finance professionals to complete actions leading to operational and commercial excellence, and ultimately better revenue outcomes.