Understanding the importance of Intelligent Enterprise and how can we achieve it.

When the conversations or discussions open up on 'Intelligent Enterprise,' we may find people having different bizarre ideas about this concept. While some may relate it to AI uprising or visualize an office space where robots run everything through voice commands. However, in reality, it a strategy of building a digital estate using an intelligent suite of modern cloud-based technologies, like AI, machine learning, data analytics, and the Internet of Things (IoT). It also involves using the organization data to get real-time insights about the company's business operations, market environment, and customers. Though at present, it seems like an abstract idea, it is primed to transform industries and organizations for decades to come. For this, company C-suite must be prepared to employ AI tools for better decision-making, acquire the right talent, while recognizing the benefits and limitations of AI when planning an overall strategy, focusing on higher-value outcomes.

The primary components of Intelligent Enterprise or IE are integrated applications, digital platforms, and integrated technologies. The intelligent suite of integrated applications enable automation of everyday business processes and facilitates better interaction with customers, suppliers, and employees through applications that have intelligence embedded. The digital platform allows the collection, connection, and orchestration of data as well as the integration and extension of processes in integrated applications. And, intelligent technologies enable leveraging data to detect patterns, predict outcomes, and suggest actions. Having an IE in the business premises empowers the organization to respond to market changes quickly, collect and connect data from data siloes, redefine the end-to-end customer experience, deliver a step-change in productivity with improved workforce engagement.

However, to design this type of alignment is quite challenging. Besides, it requires rapid execution in order to create new sources of growth. As per a recent report posted on MIT Sloan Management Review, to make this vision come true, it is important that data processing occurs as per urgency and relevance. Further, end-to-end integration across the processes need to be maintained by building on common master data, domain models, and platforms. This helps to minimize information overload for the leaders reviewing the reports. This gives C-suite maximum awareness of what's happening throughout the business and the industry so that more of his or her time can be spent addressing issues likely to have an impact on the bottom line. For this, companies can leverage augmented intelligence systems to optimize operations in human resources, IT, marketing, finance, and others. Through IE, a connection can be established between business divisions that offer a real-time look into company performance to business leaders and CXOs. When backed with reliable information and options weighed by AI simulations, the C-suite could formulate multiple potential strategies to deal with the situations that arise. Instead of being based on hunches, emotions, or guesswork, these strategies would be fully informed by the best available data.

The responsibility of C-suite leaders does not end here. While the AI tools aid in monitoring results and evaluating whether the strategy is producing the intended effect, in situations when it is evident that bad choices are made, it's critical to change course quickly. The continuous cycle of acting and reviewing results is vital for updating or aborting strategies when necessary to achieve the organization's goals. Both the C-suite and Intelligent Enterprise can ensure faster adaptability to survive in a rapidly changing market. The intelligent enterprise also provides clarity about the goals and objectives of the organization. It helps align every business division toward the overall strategy by setting mission objectives and tracking progress toward those goals and the end-results. Through the channels of IE, a business can easily connect with its people, especially customers, listen to them, and present better services each time. In short, intelligent Enterprise holds the key to tomorrow's digital and smart economy.