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Diggin Deeper, Vol. 1: leveraging hidden assets with AI

2021-06-11 by Johannes Humbert (LinkedIn | Twitter)

If data is the new oil, then information is the new gold. And it is often hidden in contracts, emails, annual reports or free text notes in CRM and ERP. To get at this gold, it takes a lot of extra effort for employees. Unnecessarily.

Facts are facts: If you Google the term “shortage of skilled workers”, you get almost four million hits. And according to the Federal Ministry for Economic Affairs and Energy, the shortage of skilled workers is now classified as the greatest business risk. Demographic change is certainly the biggest driver. Now there are various ways to counter this business risk, and these are discussed controversially and passionately.

But what is virtually ignored is the fact that many highly specialised professionals and countless highly trained clerks now spend much of their precious time reading and documenting. One could also say: wasting it. Because in many cases this is completely unnecessary. AI solutions are available to obtain the information from texts that is so important for companies and to make it digitally usable.

This is not to say that artificial intelligence is the solution to the problem of the shortage of skilled workers. Rather, it means that AI is already giving skilled workers the opportunity to increasingly contribute their core competencies to a company in a profitable way.

Result:

A company thus benefits twice over. On the one hand, employees can focus more on their actual work, and on the other hand, the aforementioned important information, valuable assets are lifted, leveraged - they are made usable in an automated way. And that on a human level. No, skilled workers are not replaced, they are freed up for more important tasks. The AI models based on Deep Learning “merely” generate answers and analyses from the document pool, for which otherwise specialists would have to be assigned. And these answers and analyses can then be used meaningfully by the specialists - faster and better.

Someone has to do it

In the document inventory of many companies, these assets lie dormant. Actually, no company can afford to ignore them or not use them for resource reasons. Yes, but who is supposed to do that? Exactly. So, then, how do you tie down skilled workers with this - from a technological point of view - superfluous task? And at the same time complain about the lack of skilled workers? That doesn’t have to be the case. There are AI solutions for that. They take over and do the job.

AI solutions search, find and analyse information from large document inventories - quickly and reliably. They lift these valuable assets. And they leverage other assets: valuable employees.