Throughout time, businesses of all sizes have relied on processes to create their goods or offer their services in a way that delivered value to customers. For example, a lemonade stand needs fresh lemons and sugar to make the best lemonade, and going to the right fruit stand and buying the freshest lemons was part of that βbusiness process.β In large companies, business processes are much more complex and have many steps inside and outside the company, which means that there is a need for business application software to manage their processes efficiently, network-aware, and end-to-end.
ΒιΆΉΤ΄΄ invented the first software-based enterprise resource planning (ERP) system, the worldβs first system of record and a powerful innovation that has changed the face of business and the ability of our customers to deliver value. With cloud and mobile technology, we delivered systems of engagement. More recently, weβve been using artificial intelligence (AI) and analytics to help organizations become more intelligent enterprises. And now with the new generation of , we are able to step into creating the first system of value.
We will now bring forward the first systems of intelligence β a true, integrated system that has artificial intelligence infused throughout its core and in every interface that matters. Once again, we will work to fundamentally change the way in which companies operate, helping them to ensure their core business processes while also freeing them to adapt, adjust, and uniquely optimize for their needs. ΒιΆΉΤ΄΄ Business AI can become a self-learning, personalized interface with contextualized insights just a prompt away.
This vision becomes real with the ΒιΆΉΤ΄΄ portfolio β the broadest suite of business applications on the planet, all running on and powered by ΒιΆΉΤ΄΄ Business Technology Platform (ΒιΆΉΤ΄΄ BTP). With our portfolio and the many partner-ecosystem solutions providing AI-powered, end-to-end business processes, the system can become truly robust.
AI Potential and Opportunity for ΒιΆΉΤ΄΄ Customers and Partners
AI is helpful, as it can accomplish tasks that are not suited for the human brain such as using large amounts of detailed data. This may sound complicated, but the basic idea of AI is actually a lot simpler than one might think. Three things are needed for an AI platform or system of intelligence:
- A model that can be trained
- Data to train the model
- Vast computing power to actually do the training
ΒιΆΉΤ΄΄ has the data sets and data structure of business-related data β protected, anonymized, and made available following the strict standards of European data protection laws. This data structure and the historical industry and business knowledge can enable us to create accurate AI models in our powerful systems of intelligence for our customers β a true business AI.
ΒιΆΉΤ΄΄ Business AI β What Is It and How Can It Help Businesses?
According to global research from Accenture, 60% of companies are merely experimenting with AI. Only 12% are using AI that achieves a strong competitive advantage. Through our past AI efforts, we have gained the ability to differentiate our AI strategies and to operationalize for value. With ΒιΆΉΤ΄΄ Business AI, we are building the system of intelligence with three core principles: relevant, reliable, and responsible.
Relevant
ΒιΆΉΤ΄΄βs AI applications have your business context in mind. ΒιΆΉΤ΄΄ Business AI is embedded in our leading enterprise applications and business technology solutions. Customers can count on their ΒιΆΉΤ΄΄ systems to be future-proofed with the most relevant AI experiences in the context of their business.
Reliable
Based on unique business data structures and the business process context, we can deliver the most reliable business AI. The AI is trained on industry and business process data, driven by ΒιΆΉΤ΄΄ process expertise and accessible in the solutions companies use daily.
Responsible
For years, we have delivered AI with the highest levels of concern for security, privacy, compliance, and ethics. Our customers trust us with their most critical data and processes because we know how to build and run powerful and trustworthy solutions, including AI that touches their most vital data and systems.
What Solutions Do We Offer with ΒιΆΉΤ΄΄ Business AI in Industries?
We have embedded AI functionality in our industry-specific ΒιΆΉΤ΄΄ solutions to help optimize strategic areas of our customerβs businesses, not a built-on technology that tries to replicate data and get out of synch. Here are some examples:
Intelligent Product Recommendations with ΒιΆΉΤ΄΄ Business AI
Our new ΒιΆΉΤ΄΄ Intelligent Product Recommendation application uses ΒιΆΉΤ΄΄ Business AI for a sales experience that is based on what the customer actually needs by reducing the effort required to create quotes for configurable products. ΒιΆΉΤ΄΄ provides a machine learning-based application that can enable users to train language models using historical data from various sources and provide product and solution recommendations to the end customer.
The ΒιΆΉΤ΄΄ Business AI used in ΒιΆΉΤ΄΄ Intelligent Product Recommendation is trained on sales data like opportunities, quotes, and orders. Based on that data, it then recommends the optimal product and configuration that best meets customersβ needs. See it in action .
AI-Trained Digital Assistants for a Seamless Customer Journey
Bosch Power Tools Accessories turned complex technical specifications into customer-centric language that was used as a foundation for digital assistants. In this way, customers can more easily find the right accessories for the power tools for their specific needs and applications. Zoovu, a partner solution in ΒιΆΉΤ΄΄βs industry cloud, integrates with ΒιΆΉΤ΄΄ Marketing Cloud to help ensure a seamless customer buying journey experience for Boschβs customers. Bosch estimates an increase of 65% customer engagement in over 35 global markets with its 46 new digital assistants. Read more about it .
Managing Retail Orders with ΒιΆΉΤ΄΄ Business AI
To manage the complex world of shopping, retailers need an intelligent system that can centrally manage orders no matter where they come from. They also need to handle returns through a fast closed-loop process with advanced AI that understands when to return the item into stock or dispose of it while preserving an optimal shopping experience. With , businesses can track sales, orders, inventory, and fulfillment in real time and optimize the sourcing of products to help ensure robust deliveries at optimum costs.
Whatβs Next?
We deliver ΒιΆΉΤ΄΄ Business AI that is already built into the ΒιΆΉΤ΄΄ applications that power the most critical business processes. Organizations can use it with confidence, as it is created using responsible AI practices. In essence, ΒιΆΉΤ΄΄ Business AI is AI built for business.
We have been developing automation with AI for years, and at ΒιΆΉΤ΄΄ Sapphire in May 2023 we several new business AI capabilities, with additional AI and generative AI services in progress. We are pushing the boundaries of whatβs possible with our AI β all the while working to ensure that it is relevant, reliable, and responsible β to support customers with their most complex and pressing business needs, so they can unlock their businessβ full potential.
Sven Denecken is SVP and CMSO for ΒιΆΉΤ΄΄ Industries and CX.