By Vinod Nair
In the book Reengineering the Corporation written by Michael Hammer and James Champy, they stated that “Not a company exists whose management doesn’t say, at least for public consumption, that it wants an organization flexible enough to adjust quickly to changing market conditions.” Business agility is vital for any firm to be able to succeed in the current highly competitive environment. Business agility makes companies capable of dealing efficiently with exceptions and uncertainties which may always occur. Companies should be ready to cope with variability and evolving business environment at all the time.
There is high competition between the old and new business enterprises caused by changes in the market, traditional enterprises are concerned with business disruption and competitive threats, especially from new digital-savvy entrants. The future belongs to enterprises with Autonomous Operations in all aspects. Decision takers and influencers have realized the value of data and are using it as a strategic asset to build better data driven decisions and organizations. In today’s AI world, where self-driving cars are on the street and powerful virtual assistants such as Google Duplex, Alexa or Siri can do or assist in most of the day to day errands.
“It is not the strongest of the species that survive nor the most intelligent but the one most responsive to change.“ Charles Darwin
Most companies have BPM systems, ERP’s, CRM, workflows, ticketing systems or complex business process systems customized to enable their operational efficiencies. As data driven decisions has been applied across, finding single source of truth has become a big challenge. ‘Digital’ trend has made most of the companies invest in data consolidation and data governance tools to support operational analytics or advanced analytics. For a business owner, the ideal world is to prevent business exceptions or have suitable measures to deal with them proactively.
Is your data lake or Data Platform’s helping with this? What if this is possible with the latest advancement in AI specifically with deep neural nets and ontology based semantic deep learning.
Live Objects is helping enterprises to kick start optimizing business process exceptions leveraging AI deep learning and process mining techniques. Combining with AI techniques, Live Objects uses process and pattern mining, user behavior modeling, activity modeling, conformance checking to optimize the business processes.
Most business process exceptions are currently conducted manually either by deploying consultants or addressing manual operations by the implementation of bots or RPA (Robotic Process Automation) to automate business processes exceptions by rules or data trends. Although there is a steep increase in adoption of RPA and bots recently, we have started witnessing their pitfalls in areas such as solutions scale, unclear responsibilities, lack of focus in process selection or choosing complex process which ends up being less cost effective.
Live Objects is making the business agility possible with its unique patent pending business transformation framework built from recent advancements in AI primitives across deep neural network, sequence pattern mining and NLP. Every business has fully specified as well as knowledge-intensive and highly dynamic processes which are loosely specified. With pre-built process area domain knowledge stored in the apparatus in the form of formal knowledge ontologies, Live Objects optimizes the business process to the enterprise through AI-driven automation of discovery, design and process engineering by mining patterns in business objects, cases and transactions across all process variations.
Having domain aware process-centric Al solution, Live Objects makes it possible for enterprises to break down the silos between line of businesses on process optimizations. Live Objects is the world’s first closed-loop solution which natively integrates with systems such as SAP, Salesforce, Hybris, Oracle, Workday and other platforms.
Interested in learning more? We are happy to schedule a no-obligation product demo on our current solutions for Financial consolidation, eCommerce, OTC, Order Management, Customer Experience, Supply chain and process migration to enable enterprises compete with their competition.