Unleashing the Power of Artificial Intelligence to Leverage Knowledge

The world around us is changing rapidly. With the arrival of industrial revolution 4.0, businesses of all sizes and types are increasingly capitalizing on advanced, intelligent technologies. They are taking advantage of automation to reduce time-consuming, tedious tasks, especially automating assembly line work. However, as such intelligent technologies are better performing than humans, it is necessary businesses must think of knowledge management for their employees. Knowledge is significantly a crucial aspect in achieving high-quality performance for employees. The field of knowledge management consists of psychology, epistemology, and cognitive science. Gaining information provided by artificial intelligence can play a crucial role in helping business employees make timely decisions.

Knowledge grows when used and deflates when kept under lock. That's true! Artificial intelligence provides the mechanisms that enable machines to learn. It allows them to gain, process and utilize knowledge to perform tasks. AI also enables machines to unlock knowledge that can be delivered to humans to improve the decision-making process.

Employing Artificial Intelligence in Your Business

Artificial intelligence has a crucial role to play in modern businesses. Every year, a fresh trove of companies emerge implementing AI-driven solutions across business processes. Many executives believe employing AI in their businesses will help both people and machines, and enable them to work together to improve operations. Furthermore, reports indicate that the increasing development and adoption of AI will boost the global GDP by up to 14% by 2030.

AI allows people in organizations to make effective business decisions, ensure customer loyalty and avert expensive production downtime. It does so as advanced forms of AI are programmed into insight engines and knowledge management systems. Insight engines emerged recently from the world of search, work with data stored in multiple silos within an organization and connect them together to populate answers in search results.

Insight engines work as an intelligent solution that makes information to be found resource-efficient and available to the user in the right context for their respective business case. These systems are equipped with artificial intelligence that helps obtain and glean existing corporate knowledge, excerpt the information, and show correlations between the individual pieces of data to provide a comprehensive overall picture. With the help of natural language processing (NLP) and natural language question answering (NLQA), insight engines can deliver search queries in more innate language and be processed directly. These intelligent solutions assess and interpret structured metadata and text content and use this to accurately determine what the user needs. Most knowledge management systems use these technologies along with the semantic processing of content that enables natural human-machine interaction.

Leveraging Knowledge Management

Most companies around the world perceive knowledge management as an IT project. They try to convey information from one place to another. Nonetheless, knowledge management is more about comprehending the resource and getting aware of how to leverage it for business growth. It is like an intellectual asset for the business.

In his book, "The Fifth Discipline", Peter Senge, a lecturer at the MIT Sloan School of Management, points out that learning organizations are always intensifying their knowledge, finding new ways of creating knowledge, moving it seamlessly throughout the organization, and transforming it so that people have insights into what they need to do. This requires a knowledge infrastructure involving numerous components such as databases, internal experts, libraries, research centers, outside information agents, and other knowledge-based sources for filling the knowledge gaps within the organization. There is also a need to measure and manage the value of knowledge so that it fits efficiently within the organization. Many companies have positions like Chief Knowledge Officers or Chief Learning Officers to help drive this process.

Above all, the new developments in intelligent systems will enable businesses to make effective use of enterprise search and knowledge management. Employees can use artificial intelligence that allows them to unlock knowledge to improve the decision-making process and generate high ROI.