In Europe is in the midst of several economic crises at once, with companies facing rising costs, declining purchasing power and a shortage of skilled workers. But is now the time for entrepreneurs and managers to bury their heads in the sand?
In fact, companies are increasingly under pressure to use their resources more efficiently, retain knowledge within the company, and at the same time find innovative solutions to remain competitive. Almost all challenges can be partially or even completely solved with the integration of AI-based technologies. An AI strategy shows the way to optimize the business organization and exploit its full potential.
Increasing efficiency through automation:
Rising labor costs are a significant burden for many companies. AI can help here by automating repetitive and time-consuming tasks in accounting or quality management, for example. For example, data entry, document reviews, or simple customer inquiries can be handled by AI-driven systems. This not only saves costs, but also frees up employees’ labor for more demanding and creative activities.
Overcoming skills shortages:
The persistent shortage of skilled workers in many industries can lead to bottlenecks in the processing of projects and to a deterioration in service quality. AI can act as a “virtual employee” here, performing repetitive tasks while ensuring high accuracy and speed. This reduces pressure on existing employees and increases efficiency without sacrificing service quality.
Keeping knowledge in the company:
AI can be used to keep knowledge within the company and greatly reduce the damaging effect of employee turnover. With AI, intelligent database can archive all data streams and corporate files and make this knowledge available to chatbots, for example. This is another way companies get “virtual employees” who can create contracts or other documents, for example, based on previous files. Employee knowledge realized in documents is no longer lost with AI.
Data-driven decision making and forcasting:
AI systems have the ability to analyze large amounts of data and identify patterns that might be difficult for human analysts to access. This enables organizations to make informed decisions based on accurate data and analytics. In a time of uncertainty and change, as is often prevalent during economic crises, this can provide a crucial competitive advantage.
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DATANOMIQ is the independent consulting and service partner for business intelligence, process mining and data science. We are opening up the diverse possibilities offered by big data and artificial intelligence in all areas of the value chain. We rely on the best minds and the most comprehensive method and technology portfolio for the use of data for business optimization.