The data challenge
The business benefits of data analytics are clear to most organisations – in fact, a recent survey found that 90% of business users agree that data and analytics are central to their digital transformation initiatives and to ensuring that they remain competitive. The challenge with ‘Big Data’ is that the datasets are too large, and too complex, to be easily dealt with by people, or traditional technology. This is why Artificial Intelligence (AI) solutions should be at the top of the agenda for every modern business.
Data discovery
Data is the lifeblood of any business. Your data contains essential insights that you need to support your operations but traditional technology is not advanced enough to unlock its real value, which is why AI tools are essential.
Where it is beyond human capacity to extract information, visualise data and make predictions, AI can be applied to datasets, enabling you to leverage your data and unlock insight in real-time.
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With the increase in hybrid and remote working, more business-critical decisions are being made via email, video calls and even webchats so a huge volume of data is being stored in silos across multiple systems, formats, and geographical locations. This unstructured data is difficult to discover and access, so valuable insights, that should be used to support your business decisions, are lost.
Instead of relying solely on instinct, knowledge accumulated over years, or randomised data, you can trust AI technology to discover and serve up the information you need to make real-time, informed choices.
Save time and reduce risk
Often, when searching for information, you will be restricted to using keywords or short sentences, which are acceptable for a Google search, but less useful when working with complex technical information such as product specifications, contracts, or proposals.
AI-enabled technology, such as the data discovery tools developed by iKVA, enables you to use a greater context of information, such as a full multi-page document, as a search query and increase your search accuracy and relevancy, compared to keyword-based searches. By integrating this software into your workflow, the tool continually analyses the context and content of your work and proactively provides you with information in real-time.
Tools and training
Only 37% of people feel confident in using technology, so it is important that you choose tools that are easy to use so that you and your team enjoy their full benefits without costly retraining. You don’t need an IT background to confidently use AI technology in your workplace thanks to iKVA’s user-friendly solutions.
How is this technology useful for global businesses?
Like so many, our business works with others across the world producing data in multiple languages on a regular basis, or searching for them in global databases that use different languages.
AI technology can index information, regardless of its source language, to identify useful material that you can easily access. Not only does this save you the expense of a translation service but, as you don’t need to allocate someone to manage your searches or documentation, it also saves you time and resource.
Conclusion
Harnessing new technology to improve efficiency is at the heart of digital transformation, which is why AI, and its unique capabilities, play such a fundamental role in digital transformation. AI-enabled data discovery is applicable to all industries, and its value lies in helping you to use the information that you are generating daily to improve decision-making, reduce costs and increase productivity.
How will you use AI technology in your business?
By Jon Horden, CEO, iKVA
Jon is the CEO and founder of iKVA, which develops AI-enabled knowledge management software for organisations. Jon has 20+ years of experience in the digital arena, managing the UK’s first commercial consumer internet network at the start of the Internet revolution while working for UUNET/Pipex, before leading companies including HomeServe Labs, PrismaStar and British Gas’ digital division, Local Heroes.
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