Artificial intelligence (AI)

Are you AI-ready?

AI as a business enabler for middle-market companies

The artificial intelligence (AI) revolution has arrived, fundamentally shifting the way business is done and the future of work across industries. Now is the time to consider how to maximize the transformational value AI can bring to your organization. Ignoring the opportunities AI can offer today could put you behind your competition tomorrow.

BPM’s core AI principles

Three core principles are at the heart of BPM’s AI strategy:

  1. AI is not new, and it is here to stay. It is not a question of if you should consider implementing AI into your operations — it is a matter of how and where you can best leverage it. AI is not a recent phenomenon; it has been around for more than two decades. However, generative AI has recently taken operational use cases into new territory as a growing number of companies explore its potential, causing a fundamental shift — on par with the internet and the cloud—that is reshaping the future of commerce.
  2. AI is a positive force. AI is disrupting and transforming certain professions. We view this as a net positive development — increasing value and enabling workers to spend time on more complex projects and developing future innovations. AI can also optimize learning and training to provide more effective programs tailored to each individual’s needs and supporting improved performance outcomes.
  3. Security and controls are key. Great potential is attainable through an effective AI strategy, but there is also an increased possibility of risk. It is critical for businesses to consider how they will protect, monitor and control their AI implementation — and specifically, what guardrails they will put around it.

The potential of AI

AI, robotics and process automation have existed for some time and have evolved over the years. More recent uses of these technologies have helped to fuel a new era of business productivity and growth. That journey is accelerating quickly, but at the same time, only in its infancy. Forrester recently named generative AI a top emerging technology of 2023, citing its “astounding capabilities” and potential to deliver benefits for most organizations.

By some estimates, the impact on productivity that generative AI offers could add trillions of dollars in value to the global economy. There are significant potential near-term impacts anticipated on the banking, technology and life science sectors. Functions such as supply chain management, inventory, audit, cybersecurity, fraud, marketing, sales, software engineering and R&D across all industries will also be transformed.