November 9, 2021

Machine Learning Enhances Digital Transformations

Businesses that adapt to the latest technologies are likely to see their operations become more efficient, customer satisfaction and retention improved, and revenue increased. Moreover, it gives that business a competitive edge, improving the overall brand reputation and how its customers perceive the company’s value. The best way to achieve this is to overhaul your business with a digital transformation.

What is digital transformation?

Digital transformation replaces traditional business processes with improved digital technologies to enhance, advance, or make operations more efficient.

Why is digital transformation important?

Digital transformation can help organizations:

  • Enhance the customer experience and increase customer satisfaction and brand loyalty
  • Become better able to scale to meet changing market conditions
  • Adapt to changing customer expectations as technology grows

How does digital transformation improve the business?

Businesses need to ever-evolve to remain competitive in an increasingly strong market. Digital transformation can help your business:

  • Develop or enhance competency
  • Transform outdated technological systems
  • Improve product research and innovation
  • Automate workflows to increase efficiency
  • Improve employee productivity

Case Study: Hospitality Industry

The hospitality industry is becoming more and more dependent on technology to help address customer requirements. Frequent travelers especially expect speedy assistance when checking into hotels, personalized experiences and amenities, smart rooms, and more to enjoy a seamless experience.

Meeting such a high demand for excellent customer service requires digitalization as part of a customer-centric transformation to fine-tune the guest experience.

“The accommodation service businesses are following the same trend. In a 2020 survey, on the main priorities of travel and hospitality companies, approximately 61% of the respondents stated that their priority was to adopt new technologies to better serve customers and/or suppliers. The survey also revealed that 84% of the respondents had someone tasked with managing digital transformation. These stats are a testament to how dedicated the stakeholders in the hospitality industry are to digital transformation.”

What is machine learning?

Machine learning is capable of handling large datasets that would be impractical to manually analyze. Reusable for different businesses with similar pain points, machine learning models can tackle many business problems with very little customization needed.

Machine learning algorithms become a model when data is added and is used to make predictions or decisions without being explicitly programed to output those results. Machine learning improves as more data is added to it and the model’s understanding of the problem is finetuned as it learns through that experience.

How can machine learning help with digital transformation?

Moving from a traditional, legacy system requires a lot of strategizing as to what solution would best fit your business needs. While there are many benefits to spending money on advanced technology, you need to first determine what technological solution will solve your business problems.

According to a study by the Hackett Group:

“Investing more money on advanced and emerging technologies including machine learning, AI and overall digital transformation solutions, those companies positively increased their staff productivity, company operations, agility to adapt to the technical age frequent advancements, improve employee satisfaction and decrease time and money spent on labor, training, recruiting, building expenses and more.”

Machine learning can help with your digital transformation by generating additional revenue for your company. One of the many benefits of machine learning is freeing up time employees otherwise spend on routine tasks, so they can then focus on more creative activities.

Machine learning is not about replacing employees; instead, machine learning makes those employees more efficient and productive. Automating company operations makes everything run more smoothly. Machine learning can also create seamless communication by eliminating department silos.

When your employees spend less time on routine tasks that don’t advance the company, you can have your employees work on things that can increase the company’s bottom line. For example, every company must process invoices and most still do so manually. When machines process the invoice, your employees can then process more invoices each day.

Digital transformations are not just about upgrading an outdated legacy system. By adding machine learning to that digital transformation, you can ensure your company has advanced learning capabilities that help you remain competitive in an increasingly driven market.

Case Study: Walmart

Walmart is the largest physical retailer based in the US. In the past few years, they have begun to gain a foothold in e-commerce as they turn to digitization to better serve their customers. As customer shopping patterns have shifted during COVID-19 and post-COVID-19, this shift to e-commerce has served them well.

In addition, Walmart’s use of advanced technologies like machine learning enables it to drive changes that result in better business outcomes.

“Walmart’s focus is not just on e-commerce but on a complete digital transformation that drives superior associate performance while driving higher customer satisfaction also apart from stronger financial returns. Walmart is leveraging cloud technology to strengthen its competitive positive and accelerate its growth momentum…. From it’s online store to supply chain and logistics, digital technology, AI, IoT, and machine learning are driving rapid changes.”

How can ElectrifAi help?

ElectrifAi has 17 years of experience solving complex problems for companies with the advanced capabilities of practical artificial intelligence (Ai) and machine learning. We have extensive domain knowledge and successful client interactions in 8 key industries and our machine learning solutions grow every day.

Take a look at this resource to learn more: 8 Industries Using Artificial Intelligence to Solve Complex Problems

If you are ready to begin your digital transformation and you would like to find out if machine learning is the right fit for your business, reach out to us today

You have data, we have solutions!

Find out what ElectrifAi has to offer by filling out the information below.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.