Interview with Dr. Sebastian Klenk, CEO of 5Analytics, on Artificial Intelligence
In what areas of business can Artificial Intelligence be helpful?
The fields Artificial Intelligence (AI) Solutions are various. To give a few example:
- Automation of manual processes
Routine processes can easily be managed automated using AI, such as order new production parts or manage specific business rules in the back-office.
- Smart Data
Machine data can be transformed to Smart Data by putting them into a business context. Statistical models can determine unproductive factors in production processes, e.g. to predict machine failures. Maintenance can be activated before fallouts and guarantee a smooth operation.
- Digital Assistance
Digital Assistance Systems help companies to interact more powerful. AI Services can be used to give simple information to the customer base or answer simple questions, e.g. if there is a shipment delay.
AI is a complement to human resources and will take over major parts of routine labor.
How can commercial decisions be derived from the use of Artificial Intelligence?
AI reduces the immense information overload, enables up-to-date information for risk evaluations and forecasts and provides a dynamic response with intelligent agents. For example an AI system is able to monitor operations in a production process, detect abnormalities, and suggest actions to the human operator or automatically initiate improvements based on predefined structures.
What benefits lay in automating such decisions?
Decision making can be enhanced and automated with the help of AI, by allowing human agents to focus on more thorny problems. These technologies not only do a very capable job, they can work 24 hours a day without coffee breaks. What makes AI systems more powerful is that, unlike purely statistical approaches, they can learn. The system react immediately when market behavior changes as well as continually improve performance as more data comes in.
Will Artificial Intelligence transform the way we work and how soon can you see this happening on a large-scale?
The machines and tools of the near future will be based on a degree of complexity that humans will not be able to handle anymore. AI will impact the structure of workplaces in the next five years. The main focus will be on routine tasks but they'll also be working their way into aiding more complex tasks: identifying connections, analyzing correlation and assessing conclusions. Humans will play an integral role in making sure these worlds combine efficiently and effectively.
Don’t miss the presentation from 5Analytics on Moving Machine Learning into Business Processes at our congress CESIS on February 20 an21, 2018 in Munich.