08 Jul How will AI Impact ERP Software?
Machine learning and artificial intelligence (AI) have the potential to reshape the world as we know it. Due to the exponential advancement in these areas, the world ten years from now could be nearly unrecognizable compared to now.
However, there is no doubt that artificial intelligence is an effective technology when it comes to extending the ERP system’s technological capabilities.
Legacy ERP systems were purpose-built to excel at production consistency first at the expense of flexibility and responsiveness to customers’ changing requirements. By taking a business case-based approach to integrating Artificial Intelligence (AI) and machine learning into their platforms, Cloud ERP providers can fill the gap legacy ERP systems can’t.
The two biggest areas of impact of AI on ERP is in data interpretation and customer service.
Getting data from your ERP has never been easier. What is difficult though is taking raw data and transforming that into meaningful information to make strategic business decisions. Enter artificial intelligence.
Within a given data set—such as the massive data sets found in an ERP—patterns and correlations exist that aren’t always visible to the human eye. With AI, SMBs can identify these less obvious trends and make insightful inferences about specific business operations, which in turn allows for more accurate forecasting and informed decision-making.
Customer service is the other area where AI and ERP are coming together to create a more effective and productive software product.
This element of AI makes intelligent decisions based on human input, which in turn make the application faster and more useful to the individual user.
The software can then prioritize those search results based on a user’s interaction history, in a way that personalizes the user experience and makes it easier to find what you’re looking for. In a system that employs vast amounts of data, like an ERP, this is crucial.
When it’s all said and done, AI and machine learning can reshape a business, making it more efficient and profitable. In this modern era, it’s not whether you can afford to incorporate AI and ML into your ERP– it’s whether you can afford not to.