Many sectors are still trying to understand the impact of emerging technologies like AI. Surprisingly, this technology is already at the core of Bayer business operations. In this article at the Enterprisers Project, CIO James Swanson explains how they are utilizing AI for core business operations.
AI as a Business Stimulant
Swanson explains that AI has helped the company to progress but has not replaced the need for the human workforce. He shares how artificial intelligence has influenced in 3 key areas:
Research and Development: AI is helping in research and development, a critical vector for Bayer’s progress, by improving decision-making. Instead of testing all, they select only those items that have the highest probability of success. This also reduced their research period significantly. Accurate data collection improved analysis, cost efficiency, and time to market.
Supply Chain Management: By applying machine learning (ML) to the supply chain, Bayer is gaining bottom-line profits and reducing carbon footprint. It is well on its way to achieving the annual $14 million savings mark. The company plans to reduce 300,000 miles and 350 metric tons of CO2 emission. ML also helps in predicting customer demands and reducing waste.
Customer Care: As per the CIO, it takes $100,000 to bring back leaving customers. AI and predictive analytics are helping Bayer to build strong customer relationships. It helps them to identify and recover customers that got more interested in a different brand.
Empowering AI: Because of AI implementation, the transportation department is free to work on more complex projects. Artificial intelligence is undoubtedly going to change the way you do businesses now. Done correctly, it can improve the work environment rather than create an atmosphere of resentment and fear. Equip the workforce to manage these technologies well. A transportation executive may not become a data analyst in a day but the individual can work towards it.
Aligning with Strategy: Bayer is reaping benefits because they have aligned AI implementation with strategic planning. To understand if you are progressing, create goals that you expect to achieve from new technologies.
To view the original article in full, visit the following link: https://enterprisersproject.com/article/2019/2/ai-how-bayer-crop-science-uses