Making the Most of Business AI

Artificial Intelligence (AI) is already providing value to businesses in ways that may not be obvious. Walter Sun, Global head of artificial intelligence at SAP, shares a great read on ERP Today about how much value AI is providing for your business. One example he shares is German retailer Lidl saw significant improvements like 15% better inventory management and 20% decrease in waste by bringing in historical business data, consumer sentiment, financial information and weather forecasts to better predict demand in their stores. SAP has also launched an AI tool called Joule which can answer complex business questions by analyzing company data. A user could ask how to improve store performance and Joule would generate an answer combining relevant information from different sources. While AI capabilities like generating art or text seem impressive, the real value lies in using data to enhance decision making and boost business performance. As supply chain management, manufacturing and customer experience all benefit from AI, it will allow any employee to access trusted insights without needing analytical expertise. The future potential for AI adoption across industries is huge. If implemented responsibly, Sun explains, AI could transform industries in coming years by enabling more accurate short-term forecasting, proactive disruption mitigation, optimized manufacturing while reducing inventory costs, and truly personalized customer experiences. Emerging regulations will provide guidance to build trust as AI gradually integrates into workplaces. Developers also need to center people, focus on customers’ critical processes, leverage real business data and take ethics seriously.

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