Artificial Intelligence - A True Game Changer

Rajendra Deshpande, CIO, Intelenet Global Services | Friday, 06 October 2017, 04:49 IST

In the fast paced world businesses currently oper­ate in, it has become increasingly critical to be able to deliver lightning fast results, coupled with precision. Technology, in this context, is a crucial enabler, as it has proved capable of opening up a world of opportunity. Businesses have inevitably increased their reliance on technology manifold, and are constantly on the lookout for the next cutting edge solu­tion, to create market differentiation. While disruptive tech has in fact propelled the growth of new marketplaces en­tirely, i.e. the ecommerce space, most organizations have undergone significant transformation to embrace technol­ogy to cater to current market dynamics.

Today, we are spiralling onward to the next level of tech empowerment with the likes of Robotics, Automation and Artificial Intelligence creating possibilities that enable busi­nesses to adopt a more nimble framework. The industry is investing heavily in the automation and artificial intel­ligence space, as it possesses the capability to dramatically improve productivity while also reducing the propensity for errors. The World Economic Forum’s Global Risk Re­port 2017 confirms this trend stating that the investment into artificial intelligence is now 10 times higher than it was five years ago. This is driving rapid advances in the AI domain.

As these technologies continue being developed specifi­cally to align with an organization’s or industry’s business goals, they present truly innovative propositions. For in­stance, Intelenet Global Services (IGS) iFare tool, devel­oped in house and targeted at the travel and hospitality sector, has a distinctive capability of retrieving airline tick­eting fare rules across multiple global distribution systems (GDS) and websites. Additionally, the tool is able to com­municate across multiple GDS’ to retrieve PNR details, fare rules, basis applicable conditions, charges or refunds due post amendment or cancellation. This eventually elimi­nates the time that is spent in toggling, reading conditions, manually calculating the charges/refunds due, etc. This au­tomation is achieved through natural language processing (NLP), where morphological segmentation is undertaken, i.e. break paragraphs into sentences, and sentences into sec­tions of text by matching on end of lines, special keywords and other taxonomies to automatically summarize and then analyse this summary to retrieve the data appropri­ately. This has resulted in a 50 percent reduction in retail losses on account of automated fare calculation.

Artificial intelligence has the potential to be a true game changer in the context of customer relationship manage­ment as well. Such tools possess capabilities to effectively assess customer preferences through deep-analytical prow­ess, and are hence able to provide valuable insights into a customer’s behaviour. This creates a platform for more meaningful engagements which are less intrusive in nature. From an organizational perspective, embedding AI into core business functions enables a higher-degree of automa­tion, thereby boosting the overall productivity and perfor­mance. One of the most crucial aspects of embedding AI and automation effectively into the systems/processes is to ensure that the experts brought in for this upgrade not only possess adequate knowledge about the tools involved, but most importantly have an in-depth understanding of the domain / industry. Only then would organizations be able to successfully identify AI opportunities and adopt the ap­propriate AI solutions.

Currently IGS has been working towards the develop­ment of holistic solutions, through a sector based approach to enable various industries to garner benefits from ef­fective use of these emerging technologies. The solutions and mechanisms are built with deep learning capabilities, to decipher and appropriately address the intrinsic needs of that specific domain. IGS utilizes frameworks such as an A2H approach, TAP etc. to proactively address chal­lenges relating to change management to ensure successful deployment of these solutions. These frameworks are tried and tested methodologies which have delivered successful results for deployments across industries.

Don't Miss ( 1-5 of 25 )