AI on Pi Day Highlights

We are excited to announce a new column in our Forecaster article where we’ll be showcasing our sessions! You’ll find them listed in chronological order, and as a bonus, we’ll be providing some complimentary gifts. To find them, just check the presentation links. Easy peasy!

How to get help from the AI assistant and Watson Exploration in Cognos with Customer success stories by Rikke Jacobsen

Rikke Jacobsen, the CEO of Cognitech, a Danish leader in data and AI-powered business intelligence (BI) solutions and Co-Founder of AIDA User Group , delivered a compelling presentation on how businesses can leverage this powerful combination for smarter decision-making.

The Urgency for AI-powered BI:

Rikke emphasized the growing importance of data in today’s business landscape. The ever-increasing volume, variety, and complexity of data overwhelm traditional BI tools. She claimed that these tools are no longer sufficient to extract meaningful insights from the information companies collect. This is where Watson comes in, playing a transformative role by turning raw data into actionable intelligence.

AI Revolutionizes BI:

Rikke Jacobsen highlighted the rise of AI-powered BI, a field revolutionizing traditional BI practices. These advanced tools can automate tedious tasks, uncover hidden patterns within the data that human analysts might miss, and generate more accurate forecasts. This allows businesses to make faster and more informed decisions, gaining a competitive edge in the market.

Challenges and the Human Element:

Despite the immense potential of AI, she acknowledged the challenges that come with its implementation. Ensuring data quality is crucial for AI to function effectively, “garbage in, garbage out” as the saying goes. Furthermore, interpreting the outputs from AI models can be complex, requiring human expertise to understand the insights and translate them into actionable strategies. Rikke stressed that human expertise remains vital in the AI era. Businesses must develop the skills to work effectively alongside AI, fostering a collaborative environment for optimal results.

Real-World Success Stories:

To illustrate the power of Watson, Rikke Jacobsen presented two compelling customer examples. In one instance, AI solution helped a company identify irregularities in their purchase data, leading to the discovery of unauthorized purchases and potential fraud. This not only saved the company money but also prevented future losses. Another example showcased how AI helped a service company optimize its fleet management by analyzing driver behavior and identifying areas for improvement, such as optimizing routes and reducing fuel consumption. These real-world examples demonstrate the tangible benefits that AI-powered BI can deliver to businesses.

A Roadmap for Success:

The presentation concluded with a clear call to action for businesses to embrace AI and data-driven decision-making. Rikke recommended a phased approach, starting with a comprehensive assessment of their data readiness. Building a strong data strategy is essential to ensure data quality and accessibility for AI tools. She also highlighted the importance of training employees to work effectively with AI tools. By fostering a data-driven culture and equipping their workforce with the necessary skills, businesses can unlock the true potential of AI and data analytics.

Overall Significance:

While the presentation lacked a Q&A session, the content offered valuable insights for businesses seeking to harness the power of AI and data analytics for improved performance. Rikke’s presentation serves as a roadmap for companies to navigate the exciting world of AI-powered BI and make data-driven decisions that lead to sustainable success.

Watch the video.

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