It’s been 15 months since ChatGPT became a household name, capturing the imagination of business leaders in what AI can bring them. Since then, we’ve seen a number of use cases such as summarisation of documents, drafting of emails, preparing presentations and searching across business data using natural language.
Given our strong Operational and Commercial background, we have been pondering how Gen AI is truly going to deliver efficiencies that will have a direct impact on business profitability.
Summarising a document may save staff a few hours a week, but does it truly create any economic value (Parkinson’s Law)? Mind you, our definition of quantifiable efficiencies implies a direct increase in revenue and a direct reduction in costs or risks. If it can’t be measured directly in your P&L, or your Customer Service levels or Risk Management Framework, it probably won’t materialise!
Let us begin with the most important question – Why should you explore Gen AI for Operations
The quantum of data in today’s business environment across multiple internal systems, external sources, thousands of Customers, Product SKU, Assets, Locations etc. have made it impossible for an Analyst/Planner to process in a timely manner. This is further exacerbated by constant events such as supply chain disruptions or changes in customer orders, that need to be analysed and addressed in real-time whilst balancing your SLA requirements and operating margins.
This has created the opportunity for using Co-pilot that works alongside the Operational team and guides them on making optimal decisions in real-time. The objective is to move away from reactive management and fire-fighting to being proactive and making timely optimal decisions.
Imagine having an army of Analysts, without the costs…
Over years of research, we’ve demonstrated that simply providing “visibility” is not the answer to driving operational efficiencies. You need the smarts to make consistent quality decisions. But to do this, you will need the ability to combe through mountains of data quickly and extract subtle nuances upon which you can make these smart decisions. You need an “AI” solutions to:
Aggregate data from multiple sources in real-time
Run predictive or forecasting models, and optimisation models
Run recommendation engines that are trained in your business processes/SOP
Run what-if/scenario analysis
Use GenAI models to talk to you in business English to simplify human-system interaction
The most critical piece in this equation is how efficiently you can aggregate and process siloed data, analyse it for insights and derive smart decisions from it. You can then hone in your unique business process (SOP) for every action / recommendation. We have you covered at OptiSol. Get in touch
These Co-pilots can be deployed alongside your:
Supply Chain teams – identifying the optimal balance between over and under-stocking to avoid risks and minimise costs
Resource planners – allocating resources to meet productivity and utilisation targets, without compromising SLAs
Finance teams – identifying revenue leakage, predicting cashflow and risk
ESG teams – overseeing sustainability goals, and predicting outcomes
Over coming weeks, we will be sharing specific use cases across various Business Functions, breaking down how it will bring real and quantifiable business value to you, that will have a direct impact on your Profitability , Customer Service and Sustainability goals.