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Business intelligence continues to transform the way organizations make informed decisions. Over the past few years, revolutions in artificial intelligence and data collection have made it easier for businesses to gather insights, make predictions and streamline operations.

Tableau, an industry-leading data analytics software company, recently released its 2019 Business Intelligence Trends report to highlight some of tomorrow’s movements in the business intelligence space. Here’s a look at some of the key trends to look forward to:

  • Explainable AI: Artificial intelligence is obviously intelligent, but can it be too intelligent for its own good? Through the coming tend of explainable AI, data scientists will be able to better understand how AI models draw conclusions. This will improve our ability to understand exactly how data is being processed and how processes themselves can be improved.
  • Natural language: Yesterday’s databases require a basic understanding of a query language, requiring users to learn particular syntaxes or make queries in specific ways in order to gain insights from their data. Natural language processing radically simplifies the process, allowing users to ask questions of their data without having to understand the mechanics of doing so.
  • Actionable analytics: Through mobile analytics, dashboard extensions for apps like Salesforce or API integrations, organizations can build analytics capabilities directly into their business operations. The result is a streamlined workflow that enables users to take advantage of analytics tools within their existing applications, taking down silos that tend to interfere with day-to-day work.
  • Ethical data: Because of regulations like GDPR and a greater cultural demand for ethics and privacy in data collection, organizations are beginning to create data with more care and respect. Data collaboratives and ethical data collection processes will continue to focus on using data for the public good and stay within its legal boundaries.
  • Data curationOrganizations have begun recognizing the importance of proper data collection processes. Using data curation tools like data catalogs and semantic governance, a company can better capture, clean and define data so its workforce can take action using accurate information.
  • More clouds: Faster than ever before, data is finding a new home in the cloud. As a result, organizations are rethinking their entire data analytics strategies, as data, applications, and services reside in different locations. Through concepts like data gravity, more companies are choosing to place their applications in the location where most of their workloads reside: the cloud.

Tableau’s full 2019 Business Intelligence Trends report is available here.

The team over at Insights Success has tapped algo.ai once again as one of the most innovative companies in Business Intelligence!

Read on for a profile of Algo and our Founder & CEO Amjad Hussain

 

 

 

Formerly known as Algomus Inc., Algo.ai allows users, including those with little knowledge in data science, to analyze data and find new insights.

 

Troy, MI, September 26 2018 – Algo.ai, the company connecting Artificial Intelligence (AI), Augmented Reality (AR) and automation to retail and entertainment industries, today announced that it has joined the NVIDIA Inception program. The program is designed to nurture startups aiming to revolutionize industries with advancements in AI and data sciences.

 

Formerly known as Algomus, Inc., Algo.ai provides an easy-to-use conversational Business Intelligence (BI) and Workflow Automation platform that enables people to work to their full potential by learning to take over tedious and redundant tasks and collaborate using a single source of truth.

 

The platform uses a wide range of AI and Machine Learning (ML) architectures — including prediction, prescription, time series forecasting, natural language processing (NLP), and robotic process automation (RPA) — to allow for seamless and robust smart human-in-the-loop workflows. With an easy-to-use conversational interface, Algo ensures that users without any background in data science can make data-driven decisions and become more strategic and analytic in their day-to-day tasks.

 

NVIDIA’s Inception program is a virtual accelerator that helps startups during critical stages of product development, prototyping and deployment. It will provide Algo.ai with expanded computing and development resources to accelerate R&D of specialized deep learning architectures and implementing new ML and AR features into production as they continue to onboard enterprise clients in the retail and entertainment industries in the US and Europe.

 

Machine Learning is transforming retail and other industries by allowing companies to discover patterns in supply chain data. Algo.ai’s latest customers include powerhouses in the movie and music industries, which bring unprecedented opportunities to develop AI-powered supply chain solutions tailored to the unique and complex supply chain of entertainment and consumer products. Joining the NVIDIA Inception program will further the development of the Algo platform, revolutionizing the way businesses handle inventory levels, supplier quality, and more.

 

“We’re thrilled to join the NVIDIA Inception program, which supports our mission of advancing the Collaborative Intelligence capabilities of enterprises by allowing humans and machines to work together to produce superior outcomes,” said Amjad Hussain, Founder and CEO of Algo.ai. “The collaboration supports our expansion of Algo into AR applications, ensuring our platform continues to be on the cutting edge and cementing our place as a market leader in our chosen verticals”

 

About Algo.ai

Algo.ai has created Algo, the world’s first supply chain analyst bot. Algo connects Artificial Intelligence, Augmented Reality, and Automation in a unique way to a specific set of industries: retailers, distributors, and manufacturers. The company’s deep domain knowledge of both technology and supply chain allows the team to rapidly train Algo on analytically rich workflows and business functions like Demand and Inventory Planning, Sales Forecasting, New Product Lifecycle Management, Assortment Optimization and more. Algo.ai is headquartered in metro Detroit with operations in the US and Europe.

March, 2018, Insights Success Magazine

The average knowledge surrounding Artificial Intelligence revolves around a rumored headline of it surpassing human brain with the help of a computer generated program, causing a cloud of catastrophe over the idea. But the reality is much more complex than the above stated rumor. Organizations from varied sectors realize the potential of AI and Machine Learning and are racing against each other to build the most efficient AI enabled program, capable of reducing human efforts by solving the maximum tasks possible. Built on the concept of people and machines working together, Algomus is one company that stands out to create an environment where humans and machines can work and learn from one another to make specific tasks easier.

Source : The 10 Most Promising BI and Analytics Solution Providers 2018

As the use of AI enabled platforms continue to grow within all industries and markets, we will also see a greater level of AI platforms being adopted by retail companies. There are four factors that will influence the adoption of AI in Retail:

Think Big, Start Small

Retailers who adopted AI early are already benefitting from this innovation. Retailers that are new to using AI in their day-to-day operations will benefit from starting with the “basics.” It is important for retailers to remember it is not about solving all their problems at once, but to focus on fixing one problem at a time. People often get caught up in the task at hand or distracted with too many problems. It is very important to remember the strategy of “test and learn.” Make one adjustment towards personalization for the consumer and test it before you move on to the next.

AI Boosts Conversions, Revenue, and Customer Satisfaction

IDC Retail insights predicts by 2019 40% of retailers will have developed a CX architecture supported by AI. IDC forecasts customer satisfaction scores to rise by 20%, employee productivity to rise by 15%, and inventory turnover to rise by 25%. This is all going to be possible due to AI paired with AR and IoT data which will give retail companies the ability to hyper-personalize each customer’s experience.

Mobile Devices Will Help AI Flourish

The vast majority of the population has access to mobile devices and conducts most their activities on these devices. This allows for a huge adoption in AI on this platform. The data collected from all these mobile devices will allow companies to improve their customer’s experience. One company that is already successfully implementing an AI platform is Starbucks. One thing their AI platform does is recommend specific orders for customers based on their prior purchase history. AI will play a big role influencing AI adoption in retail.

The Lack of Knowledge and Cultural Biases Will Hold Back the Adoption of AI

Two problems many companies face is the lack of knowledge and their cultural readiness for innovation within the company. These become a problem when people within the company are afraid to innovate new technology they don’t understand. Another hurdle retailers have to jump over is the cost of implementing an AI platform into their existing system.

Download the full report HERE

We would like to thank Clariden Global for hosting the “Einstein AI, Deep Learning & SuperIntelligence Summit” and inviting Nikki to speak at the post-summit seminars about AI Assistants in Business. The conversations with attendees and other speakers were high quality and it was great fun to ponder the future of these cutting-edge technologies.

If you missed the talk and would like to see the slides get in touch!

September 6, Small Business Trends

“Chatbots offer a variety of potential benefits for businesses. And Algomus is a tech startup that was one of the early adopters of AI technology, creating a chatbot that can help businesses with some of the more tedious data related tasks.

Learn more about Algomus and the company’s chatbot, Algo in this week’s Small Business Spotlight.

Read the Full Article Here

A big shout out to our 2017 summer interns at our metro Detroit HQ!

They did an awesome job and we look forward to welcoming them to team Algo full time when they graduate ????

We had so much fun mentoring these smart and driven individuals and they contributed to all kinds of important projects.

Pictured: Veditha ShettyAli Turfah & Robert Ervin with AmjadJason, and Steven.

Check out our Careers page for open positions or our upcoming Recruiting Events if you’re interested in joining team Algo!

In a 2016 research reportWhy Artificial Intelligence is the Future of Growth, Accenture found that adoption of artificial intelligence tech across all industries may double economic growth rates by 2035. AI investment is expected to increase labor productivity by 40 percent. In fact, 70 percent of executives say they plan to “significantly increase” AI investment.

In the realm of inventory and supply-chain management, AI adoption, specifically the use of optimization algorithms, is revolutionizing inventory agility – reducing stock depletions and maximizing stock levels.

“The use of AI in supply chains is helping businesses innovate rapidly by reducing the time to market and evolve by establishing an agile supply chain capable of foreseeing and dealing with uncertainties,” says Accenture Managing Director Manish Chandra. “AI armed with predictive analytics can analyze massive amounts of data generated by the supply chains and help organizations move to a more proactive form of supply chain management.”

Supply chain processes generate giga-tons of data, and AI can deploy predictive analytics to make sense of it all. Freshly updated and analyzed data then builds a solid foundation when it comes to real-time vision and information flow. Every key player across the supply chain is empowered with the best data and maximizes it accordingly.

AI is no longer an “ain’t-it-cool” innovation in the industry but rather a necessity. With the erosion of the brick-and-mortar model and rise of real-time consumer expectations, supply chain/inventory management practices must embrace machine learning that far outpaces the speed of human thought and action. Consider these stats from the 2017 MHI Industry report concerning the speed of supply-chain transactions from just one e-tailer on Black Friday:

“A reported 426 orders per second were generated from the website throughout the day. That equates to over 36 million order transactions, an estimated 250 million picking lines at the distribution centers (DC), 40 million DC package loading scans, 40 million inbound sortation hub scans, 40 million outbound sortation hub scans, 40 million inbound regional sortation facility scans and 40 million outbound delivery truck scans.”

How should industry leaders respond? The answer, according to the report, is clear. Supply-chain companies must embed “analysis, data, and reasoning into the decision-making process. Position analytics as a core capability across the entire organization, from strategic planners through line workers, providing insight at the point of action.”

As Accenture economic research director Mark Purdy concludes, companies that survive will fully invest in the potential power of AI going forward: “To fulfill the promise of AI, relevant stakeholders must be thoroughly prepared – intellectually, technologically, politically, ethically and socially – to address the benefits and challenges that can arise as artificial intelligence becomes more integrated in our daily lives.”

There are many trends coming to the foreground of AI, machine learning, and business intelligence in 2017. This article will be talking briefly about these trends and a link to the in-depth report by Tableau can be found at the bottom of the page.

BI (Business Intelligence) the New Norm

In 2017 we will see a trend of more and more companies using modern business intelligence, allowing analytics to be performed by all employees, not just data scientists and engineers.

Collaboration between Machines and Humans Strengthens

The collaboration and sharing of data is going to move from one-direction, spreadsheets and emails, to an interactive flow of data between multiple parties and their live data stream.

Data Will Become Equal

All data will be equally accessible and understandable. We will be able to access all our data without the worry of it being stored in the same format.

Anyone will be able to Data Prep.

Just as self-service analytics is becoming more accessible to non-technical employees, so will the ability to understand and prep data without the need of a technical background.

Imbedded BI is Allowing Analytics to Grow Everywhere

Business applications like Salesforce are placing analytic tools in the hands of people never before exposed to data. These tools are extending the reach of analytics in our day-to-day lives and we most likely are unaware that we are using them.

Work with Data in a Natural Way

In the next year we will see people being able to access and communicate with their data in a more natural way. We will see this more with the integration of natural language interfaces within AI networks.

Cloud Based Analytics

With data being stored in the cloud we will soon see analytics being conducted there as well. Cloud analytics will be faster and able to scale at a much quicker pace.

Data Literacy will Become a Necessity 

With Data analytics and predictive analysis moving to the mainstream we will see a need for all level of employees needing to be able to read and understand their company’s data.

 

Read the full report by Tableau Here:

https://www.tableau.com/learn/whitepapers/top-10-business-intelligence-trends-2017