According to IDC, worldwide expenditure on AI-driven digital transformation initiatives is expected to cross $1.97 trillion in 2022. It's no surprise since global organizations regardless of their size are moving towards ML, Big Data, Data Science, &, AI-based technologies to drive enterprise transformation. Advancements in machine learning are further pushing the boundaries of traditional businesses, allowing them to become more intelligent and ready, while significantly boosting their operational efficiency, customer understanding, and, ROI. To experience the transformational power of Data Science and AI, organizations across the AI maturity curve need to create a dynamic organizational blueprint with clearly-defined next steps to help them transition from 'siloed department-centric AI initiatives' to 'AI-driven organizational transformation'. A blueprint that would capture different "as-is" customer journeys, outline "vision statements" to accomplish short to medium-term goals, and clearly define step by step process of what should be done to digitally transform an organization.
Flatworld is a known AI-driven digital transformation service provider offering a specific plan to identify "if" an organization is ready for AI transformation, "why" it should opt for it (benefits), "what" needs to be done, and "how" AI transformation should be done! We go beyond consulting and ensure that the AI-driven transformation is a real success for all our clients. Our success metric goes beyond the submission of a consulting document and is defined by the actual transformational value an organization experiences after implementing the recommended AI road map.
What is Digital Transformation?
- Digital transformation marks a radical rethinking of how an organization uses technology, people and processes to fundamentally change business performance. - George Westerman, MIT principal research scientist.
- Digital transformation typically involves sweeping changes in pursuit of new business models, new revenue streams or reduced cost structures, driven by changes in customer expectations and market realities.
- Companies often embark on digital transformations to counter the potential for disruption from incumbents and startups, or the "Uberization" of their business. Fearful of being outflanked by more nimble competitors, companies seek to accelerate innovation, experiment with new digital services and capabilities to augment existing offerings or slide into adjacent markets.
What is AI-driven Digital Transformation?
AI, or Artificial Intelligence, is at the center of AI driven Digital Transformation. In the interest of brevity, it encompasses all the following technology areas -
Any Digital Transformation centred around one or more of the above technologies is an AI-driven Digital Transformation.
Deliverables of AI-Driven Digital Transformation
AI-Driven Digital Transformation involves systematically and substantially improving customer outcomes in some or all the following areas of an enterprise. Transformation plan, deliverables and success metrics are unique to each enterprise.
AI @ Marketing
Customer 360-degree view, campaign automation and intelligence, channel and customer identification and the like.
AI @ Sales
Intelligent Sales process, Lead scoring, customer behavior predictions, cross-sell, up-sell, shortening sales cycles and the like.
AI @ IT Infra
Data storage, Cloud definitions, data curation, data quality, data governance, data security and the like.
AI @ Operations
Process automation through Cognitive Process Automation, Faster and automated data access, faster turnaround times, reduction in operational costs, reducing process or information flow complexities, reducing risk and fraud, intelligent procurement, predictive manufacturing, intelligent inventory management, optimizing production schedules.
AI @ Finance
Intelligent forecasting, Predicting non-compliance, Improving financial security, detecting financial anomalies, intelligent financial planning and de-risking.
AI @ Digital Channels
Predicting and shortening customer journeys, improving responsiveness, improving on-line experience and the like.
AI @ HR
Predicting Employee Attrition, increasing employee retention, Intelligent employee support, Employee performance prediction.
AI @ Reporting
Automation of multi-level dash boards, Intelligent self-service analytics, voice-based reports and the like.
Our 4-step Process for AI-driven Digital Transformation
01. Analysis of Existing Processes for AI-readiness
Flatworld has developed a unique information generation methodology that create custom digital surveys of your organization's departments, helping to assess your current readiness for digital transformation.
Information collected includes but not limited to -
- Existing business processes and data flows
- Existing customer journeys which require maximum time and effort
- What portion of the total organizational effort is automatable through AI
- Availability of good-quality data for manual or automated decision making
- Existing capability of your IT infrastructure, and its future scalability
- Current initiatives in AI-based automation
02. Formulation of AI Vision
After carefully analysing your requirements, we propose and collaboratively create an AI vision statement/s which take into account your immediate and short-term requirements and remains flexible enough to incorporate further changes in the future. Some of the key highlights of our AI vision statement include -
- The vision covers multiple AI initiatives that will be implemented across the organization
- The AI vision statement is routinely reviewed and refined, usually bi-annually
- The AI vision statement helps to reduce the time & effort spent in AI implementation, infrastructure development, and training. Further, it also ensures your teams remain focused in the face of changing technological and business trends. Enables the organization to move from fragmented initiatives to a cohesive collaborative approach
- Our unified AI Vision statement allows multiple branches throughout your organization to work together for a streamlined approach towards modernization. We move from a siloed, project-based approach to a cohesive organizational approach. This leads to leveraging technologies and tools that can be implemented across the organization resulting in significant cost reduction
03. Preparation of Actionable AI Road Maps
Once our clients are satisfied with the AI vision, we set forward on creating an actionable road map which is one of the key deliverables of AI-driven digital transformation -
- Our road map helps to detail out the specific steps required to achieve the AI vision. This AI road map becomes a dynamic and living architectural blueprint for the organization.
- We identify automation opportunities, data integration opportunities, various use cases that would bring immediate efficiency and define return on investment.
- We prescribe in quantifiable figures the appropriate requirement for infrastructure, data growth capabilities, automation use-cases for implementation, required training for multiple teams, etc.
- Our AI-digital transformation road map covers the entire organization, right up to departmental process, data flow and decision-making levels.
04. Establishing AI Centre of Excellence (CoE)
We believe that AI Driven Organizational Transformation cannot be a fully outsourced activity. We recommend organizations to have a core team that would be the prime driver to monitor, ensure adoption and scale AI initiatives within the organization. Towards this end we have proven training and knowledge transfer methodologies to enable organizations to hire, retain and maintain a team in the CoE.
Once we have established the entire road map, the digital transformation journey for your company begins. To give these process improvements direction and to ensure you can benefit from the many initiatives being implemented easily, we help to create a central AI resource center, namely the AI CoE.
- The AI CoE focuses on pushing AI-based initiatives throughout your organization
- It doubles up as a watchdog for ethical and compliance issues related to AI-based process implementation
- It objectively monitors organizational capability for AI introduction while apprising the top management of any challenges
What are the Benefits of Flatworld's AI-driven Digital Transformation Techniques?
AI-driven digital transformation has become a must have in the current and emerging economic scenario. That is where a partner such as Flatworld Solutions steps in, helping you build an informed organizational roadmap while informing you about necessary technological developments needed to prepare for future dependencies. Some of the key benefits of AI-based digital transformation include -
Silos to Unification
Most organizational AI and Big Data initiatives are project based which sit siloed in various departments of the organization. Implementation of an AI driven organizational road map leads to bringing together independent initiatives to an unified approach resulting in cost efficiencies, knowledge sharing, speed to market, more efficient cross and upselling, increased return on investment. Just bringing together organizational data together into a single data lake or data mart deliver an extremely significant ROI!
Better, Dynamic Analytics
Relevant, quick and having a unified version of truth greatly enhances corporate decision-making. Single version of truth leads to more efficient role out and adoption of analytical solutions across the organization.
Driving Economies at Scale
Tools, technologies and platforms when viewed from an organizational perspective results in better leverage with suppliers and vendors. This in turn can help scale your processes rapidly in a shorter period of time.
Data duplication and challenges to data access is one of the major reasons for lag in processes and decision making. A unified data access infrastructure results in faster processing and decision making which directly impacts customer satisfaction and improved operational efficiencies.
Define New Customer Experiences
With our AI-driven digital transformation methodologies, you can precisely define customers' preferences and their overall experience, leading to more accurate customer personas with in-depth details and behavioural traits. Our work with several global enterprises has taught us that the most successful companies in terms of digital transformation have seen a big uptick in customer loyalty rates and customer satisfaction.
Our AI-driven Digital Transformation Engagement Sequence
Gain Real-World Business Transformation to Digital with Flatworld's AI-Driven Digital Transformation Services
Organizations around the world are operating in a world full of unpredictability and changing customer requirements. With the Coronavirus pandemic, companies are now facing an even bigger threat to their economic growth. For an organization like yours to respond to these challenges, you need access to prudent capital management techniques, streamlined business processes, operational efficiency, and market agility. This and more is delivered through AI driven organizational transformation initiative.
At FWS, we have been leading from the front when it comes to redefining what digital transformation means in the age of AI and real-time data for global organizations. We create structured AI-driven transformation road maps which take into account your existing capabilities while delivering value, building economic resilience, and preparing you for long term success.
Contact FWS, an AI-driven digital transformation service providing company, right now and outsource AI-driven digital transformation services!