AI-Powered Digital Transformation: Streamline Enterprise Software Vendor Selection
With the advent of COVID and remote workforces, the need for AI-powered digital transformation has skyrocketed. But how do you know what should be addressed first? Many organizations start looking at manual processes and procedures that they need to automate while ignoring their current tech stack, which usually consists of the systems that drive and support their core business. The average life span of core enterprise systems is generally 5-7 years, yet the average age of those systems within organizations is up to 20 years.
AI Solutions for Organizational Performance Improvement
Digital transformation requires looking at all systems, old and new, and identifying what needs to be added, what needs to be upgraded, and what needs to be done first. Many organizations turn to consultants, but consultants are expensive and they still need to interview all the stakeholders in an organization to identify needs, so while they do add expertise that may not exist in-house, they still take up the same amount of employee time that would be spent even if that expertise was in-house.
Leveraging AI in the Digital Transformation Process
What is AI (Artificial Intelligence)?
John McCarthy offered the following definition in this 2004 paper (PDF, 106 KB) (link resides outside IBM)
” It is the science and engineering of making intelligent machines, especially intelligent computer programs. It is related to the similar task of using computers to understand human intelligence, but AI does not have to confine itself to methods that are biologically observable.”
From Data to Action: Enterprise Technology Procurement with AI
When we talk about Artificial Intelligence (AI), we are talking about fast and accurate analytics on (mostly) unstructured data. Companies spend enormous amounts of money identifying, measuring, and analyzing their business to make technology and non-technology decisions. AI can make this faster and better. What makes it intelligent is that it can learn, especially when pointed toward a company’s own data.
AI-Driven Requirements Management for Digital Transformation
We will get to how AI can help prioritize and identify general digital transformation needs, but assuming an organization has already identified what processes it needs to automate first, the biggest obstacle is figuring out the specific needs of the organization to perform those processes; in other words: what are the requirements? AI solutions like ChatGPT can identify pre-seeded requirements to get the ball rolling, but stakeholders (and sometimes consultants) still need to verify, vet, refine, and prioritize requirements.
As requirements are being finalized, AI solutions can then identify best-fit solutions to meet those requirements (or potentially find that no single solution can meet them). To verify that a solution or group of solutions can meet the necessary requirements for an organization, AI can help build out demo scripts allowing solution vendors to focus on the most important requirements.
It may seem that the end goal would be to choose a solution, get it live, and then move on to the next digital transformation priority, but as business and technology evolve, an organization’s digital posture needs to keep in step. So as an organization builds out its tech stack, it needs to continuously measure, monitor, and evolve its technologies as its needs change.
Continuous Feedback Loop: Prioritizing and Identifying Digital Transformation Needs with the Help of AI
At this point, AI can be pointed inward at the data an organization has been collecting over time. If a continuous feedback loop is established with all stakeholders for all systems within an organization, AI can determine which systems need to be replaced or upgraded, where the technology gaps are, and identify the most critical needs.
As this process evolves within an organization over time, requirements are being gathered organically and continuously, requiring less time from stakeholders and less need for consultants or dedicated analysts and facilitators.
4 Ways Olive Uses AI to Guide your Organization Through Continuous Digital Transformation
“Digital transformation is not a destination. It’s a journey”
Streamline the Enterprise Technology Vendor Selection Process with Enhanced Collaboration and AI
Companies spend significant resources analyzing their data to make informed business decisions, including those related to technology procurement. However, traditional analysis methods can be time-consuming and costly. By leveraging Olive’s AI-powered solution, businesses can accelerate the vendor selection process, enhance collaboration amongst teams driving purchase decisions and make informed decisions faster.
With the ability to learn from a company’s own data, Olive’s AI-powered features can help identify the most effective solutions and reduce inefficiencies in the system.
1. Use AI to Generate Requirements
Olive’s AI powered technology will help you generate requirements that are relevant to your business needs. This help to identify pre-seeded requirements to get the ball rolling, saving time and keeping the project focused on the goals.
As requirements are being finalized, AI solutions can then identify best-fit solutions to meet those requirements (or potentially find that no single solution can meet them). To verify that a solution or group of solutions can meet the necessary requirements for an organization, AI can help build out demo scripts allowing solution vendors to focus on the most important requirements.
2. Use an AI Solution To Manage Your Enterprise Data Set
By embedding AI into its processes, Olive can ensure that all of your data for all of your technical needs is in one place to facilitate the evolution of your entire technology stack, which helps to streamline your digital transformation process.
3. Accelerate Technology Vendor Selection with AI
Olive can also accelerate the vendor selection process by using AI to analyze its rich data set to identify areas where vendors excel or fall flat based on actual data rather than biased market analysts and reviews. Since the existing statistics point to 70% of digital transformation projects failing, it’s safe to assume that companies should base decisions on robust data rather than on biased reviews and opinions.
4. Improve Organizational Performance with Olive’s Technology Analysis
Once all of your technology needs, assets, and solution providers are in Olive, you can continue to analyze and track their performance against your organization’s evolving needs, providing you with the tools you need to continuously evolve and improve your technology, your processes, and ultimately your organization itself.
Olive – Your Enterprises’ AI-Powered Digital Transformation Coach
The advent of the automobile and the lightbulb in the late 19th century triggered technological growth on a scale never seen before in history. 100 years later, the birth of the internet kicked that growth into overdrive. Technology is changing the world so quickly that organizations that cannot keep up will fail. Digital transformation is not a destination. It’s a journey. Olive can play an active role in providing ongoing guidance and support for enterprises seeking continuous improvement through digital transformation Olive can act as an AI-powered digital transformation coach.
Use Olive’s AI-Powered Solution To;
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build and manage enterprise data sets
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research technology with specific guidance and focus on the initiative you’re looking for
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discover needs
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gather and manage requirements
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compare vendors, and accelerate vendor selection
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create a continuous AI-powered digital transformation loop in your organization
Accelerating the Digital Transformation Lifecycle Through AI-Driven Continuous Discovery
