The Digital Configuration Lifecycle in the Intelligent Enterprise (Part 1)
The next era of enterprise computing will be defined by intelligent technologies. They will drive a next-generation value economy. Through advances in machine learning, algorithms have become highly accurate, and in some areas will surpass humans. Today, image recognition accuracy is at 97%, which is already better than the 95% accuracy of humans. In 2020, voice and video recognition will work with a 99% accuracy. Recent studies predict that by 2025, 60% of human tasks will be automated with the help of intelligent technologies.
Intelligent technologies will drive a next-generation value economy
Successful businesses are already leveraging these capabilities. Nine out of ten business leaders see artificial intelligence (AI) as critical for their companies’ survival over the next five years. According to a survey of 2,500 executives conducted in Australia, France, Germany, United Kingdom and the United States, business leaders are ready to act: six out of ten have already implemented or are currently planning to implement intelligent technologies and will spend considerable budget.
Responding to individual customer needs, engaging talent in new ways, and creating disruptive business models are today’s critical business imperatives. Businesses have started to understand that only by leveraging new technologies they can sustain their success and market relevance, turning their business into an Intelligent Enterprise.
The Intelligent Enterprise
Intelligent Enterprises effectively use their data assets to achieve their desired outcomes faster and with less risk. Intelligent Enterprises create personalized and unique customer experiences using artificial intelligence, chatbots, and voice technologies. They can anticipate and proactively respond to the needs of their customers. They continuously deliver best-in-class customer experience and customer service. Intelligent Enterprises are agile. They continuously improve their ability to respond faster to changes in the marketplace or the business. They pivot their business processes towards the right outcomes for their customers. Intelligent Enterprises have end-to-end visibility. They have found efficient and effective ways to collect and connect data that was previously siloed. Through intelligent analytics algorithms, they can recognize unseen patterns. Intelligent Enterprises automate complex processes, such as the classification of products based on unstructured information, invoice and payment matching, quote and pricing approvals, engineer-to-order processes, and more, to free up employee time and empower them to do more meaningful work. Intelligent Enterprises apply the new possibilities through intelligent technologies to their core business competencies in innovative ways. Thus, they invent new business models and generate new revenue streams by monetizing on data- and intelligence-driven capabilities.
Enhanced capabilities will empower SAP customers to achieve three critical outcomes
faster, more effectively, and more completely than ever before
Vice President, Digital R&D and Engineering – Configure