Multibillion prize: On the brink of Artificial Intelligent (AI) /Machine Learning (ML) Start Up revolution in operational efficiency

By Procelite Team

Nowadays, when almost any product and service can easily be replicated, one of the few parameters that is still under the control of companies, that can provide a sustainable advantage over competitors and win new customers, is operational excellence. Indeed, operational excellence affords a company the possibility to deliver a product or a service cheaper, faster and in a more customised way than the competitors.

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he prize in the operational excellence game is enormous. If we look at the business world globally, there are billions of dollars, pounds and euros locked in costs that are higher than they should be, negatively impacted revenues due to bad or untimely management decisions, and poor performance or attrition of talented personnel, who become frustrated with how companies work and are unable to make a difference. Releasing these potential benefits is not an easy task though. Every year, huge budgets are spent on internal optimisation and change initiatives or expensive consultants. Unfortunately, despite enormous efforts and budgets spent, the outcomes are not great: the stats for change initiative failure are notorious, and very often, the results are not sustainable.

Most of the problems stem from the widespread approach that treats operational efficiency as a one-off/project-style activity, focusing on fragmented areas instead of the holistic organisation view. Operational excellence is not an end game, but rather an ongoing, continuous process that should cover the whole organisation and never stop to adjust what and how the company does in order to make their customers happy. As a bare minimum, there should be a continuous activity to examine internal processes for such obvious inefficiencies as bottlenecks, quality problems, extensive lead time, lack of training, different types of waste, knowledge management/documentation gaps, etc.

The high cost of trained professionals qualified for such work and the continuous nature of this activity are just a few of the key reasons why this is a perfect case for Artificial intelligence/Machine learning (AI/ML). The algorithms based engine can analyse business processes, dependencies, interactions, and other operational data 24/7 (in case of the global companies) for patterns that are associated with high risks, issues and inefficiencies and can immediately flag them to management before small inefficiencies and risks turn into real issues.

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perational efficiency is a perfect case for AI/ML algorithms. However, although we see great examples of extremely successful AI/ML implementation in many areas, there are not many success stories in the area of operational efficiency, even though the economic effect may be enormous. From our point of view, one of the main reasons is the lack of data suitable for AI/ML. Indeed, some of the few areas where progress can be seen are in mining and manufacturing, where data is available because of the nature of operations, i.e. dominant usage of machinery and IoT. The same applies for big companies that can afford ERP systems and workflows, i.e. process data is immediately available. However, the problem with ERP, apart from their high costs, is that AI/ML can be applied only in the areas where ERP components are adopted. Also, any changes to the process will most probably require quite costly investment to update the workflows.

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ne of the main reasons why there are not many success stories of AI/ML implementation in the area of operational efficiency is the lack of data suitable for AI/ML. For the majority of companies, information that is vital for training and adoption of AI/ML is still buried in emails, PowerPoints, SharePoint sites, heads of key personnel, fragmented workflows and databases. Another significant obstacle is that, in order to make AI/ML work, a continuous assessment of activities for success/failures is required to train the models. This data is also unavailable in an overwhelming majority of cases due to the unstructured nature of human interactions and irregular feedback within the organisations.

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he solution that we believe can finally bridge this data gap and bring a real AI/ML breakthrough to management and operational excellence is the innovative collaboration and management cloud-based platform developed by a start-up called Procelite. This solution is extremely easy to use and can be adopted straight away, no matter whether the company is a small team or a big corporation, i.e. no IT changes are needed. The main differentiator of this particular solution is its innovative business process approach, which enables automated end-to-end business process digitalisation.

At any moment in time, any employee can see a visual representation of literally every single activity in the team or organisation, all connected to their dependencies and eventually to strategic objectives, with all the risks, issues and inefficiencies revealed. End-to-end digitisation enables an unprecedented level of business insight and, in addition, brings to light all the knowledge and knowledge gaps scattered around the organisation. Also, the good news is that, in order to adopt and use Procelite, there is no more effort required than for using email.

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he unique real-time business process data generated by Procelite is the key enabler for the AI/ML implication. This constantly updated data, in conjunction with the user feedback rating system implemented in Procelite for every task, is used to train and advance the AI/ML-based operational efficiency wizard that is coming shortly in one of the upcoming releases.

In the meantime, if you are interested in learning more about the already existing innovative features and the ones that will be coming shortly, you can arrange a demo session with one of the highly experienced Business Process Improvement Specialists. The consultants will share their experience to address your specific management challenges and to walk you through exactly how Procelite can help you achieve better results.

Book a FREE session with one of our top-tier Business Process Improvement consultants to discuss your specific Business challenges and to walk through exactly how Procelite can help you achieve better results.