AI can break silos and boost efficiency when fed with the right data

AI in business has come a long way since Microsoft's Clippy graced our screens back in 1997.

Today, AI can perform many complex tasks that enable businesses to be more efficient and effective than ever before.

Many challenges organisations face today, such as siloed data in different systems, disconnected business units and manual processes, can be overcome by using AI effectively.

Charles Harb, director of strategy, innovation and transformation at Conga said businesses need to start by understanding what AI can and can’t do.

“AI models need data that is accurate and relevant to the task that you're trying to solve. If you don't have the right data, your AI models will be inaccurate, biased, or even completely wrong,” he said. 

As well as data, organisations need technical expertise. As not every organisation can employ its own set of in-house expertise, they will need to partner with companies that have a proven history of AI development and success.

Harb said the journey to successfully deploying AI goes through five stages.

The first is taking an inventory of daily tasks and categorising them as administrative and strategic. Then identify repetitive tasks that can and should be automated.

He said start with a small project and scale up gradually, work with a trusted partner that can guide you along the way.

Harb said there are a myriad of benefits that come from a well-planned and executed AI project.

“AI can streamline processes and make things faster. It can deliver greater business insight and enhance productivity by speeding up access to data. It can also deliver a better client experience by streamlining processes," he said. 

While there is a lot of upside, Harb noted there are some things to look out for. Organisations need to have policies in place that block the use of proprietary data in public-facing AI tools such as ChatGPT.

As tools like ChatGPT are generative AI, when they lack enough of the right data they can create false results, known as AI hallucinations. 

“Humans have learned through evolution to apply judgment on information. We have developed skills around identifying facts versus fiction," he said.

"AI's accuracy and recognition of truth is still being developed. This means it's often best to have a human in the loop, especially when there's a vital decision needs to be made.”

AI is rapidly advancing, but even the most advanced AI systems can’t replicate the creativity, ingenuity and flexibility of a human mind, Harb added.

But AI is here to stay and will become more active in everyday business life. Companies that leverage AI across their business lifecycle will outperform and replace companies that don’t.