Raken Joshik, Head of Business Analytics emphasized that organizations strategically leverage AI-powered ERP solutions to enhance decision-making, optimize operations, and drive efficiency in key business functions. Expl

Artificial intelligence and machine learning capabilities embedded into ERP systems work behind the scenes to help meet increased demand for personalization and improve a broad range of business processes. While companies could add AI functionality to some ERP systems in the past, more vendors now offer ERP software having built-in AI capabilities. AI can deliver significant benefits for businesses, including: More insights: As organizations gather more operational and customer data than ever before, they look to AI to deliver valuable business insights based on that information. AI technologies scan vast amounts of unstructured information, quickly identify patterns and predict various trends that wouldn't be possible to spot with manual number crunching alone. Improved processes: AI helps to automate and improve a whole range of processes. For example, consider a manufacturer that adopts a just-in-time inventory strategy, which aims to deliver components at the last possible moment to minimize inventory carrying costs. AI, in the form of machine learning, can optimize the supply delivery and labor schedules to increase productivity and lower costs. IFS's 2019 study found that 40% of manufacturers planned to implement AI for inventory planning and logistics, and 36% intended to use it for production scheduling and customer relationship management.