The Future of Business: AI and ML for Management Systems
It has already become a reality: artificial intelligence (AI) integration in mainstream society and business is disrupting virtually every business process in every industry and is imperative for organisations seeking to maintain a competitive edge.
It is also the case with our XGRC Software product range, which comprises of integrated business management systems that automate and optimise operations while ensuring all processes remain efficient and compliant with best management practices.
As we move to the next major release v3, the product suite has received enhanced AI functionality thanks to our improved AI engines we have named LUCI and DAVE (hello, Siri and Alexa!). Let’s dig deeper into AI applications for business – machine learning (ML) and deep learning, and specifically in the context of integrated business management systems.
Machine learning is the most common type of artificial intelligence developed for business use. It is primarily used to process large amounts of data lighting fast through a learning algorithm that grows smarter over time with every data fed in the system.
Machine learning technologies are now a vital part of optimised business processes. The more data is transmitted and analysed via the ML algorithm, the better the data modelling, the more accurate the results which management can employ for decision-making.
Business management systems need machine learning technology to analyse growing amounts of data and turn them into digestible context humans can understand. This data is provided by critical systems (ERP) and by connected devices and the Internet of Things (IoT).
Our SHEQX (Safety, Health, Environment and Quality) management solution, part of the XGRC product range, is an integrated management system that aggregates SHEQ data in a single, auditable database, to manage analysis and reporting effectively.
An integrated business platform will be able to unify this stream of data into a central location, where users can access data about the production, sales, supply chain, compliance, and so on. However, it’s too much data for users to sift through successfully, and it is highly likely that some data patterns will be overlooked.
Machine learning can rapidly analyse the data as it comes in, identifying patterns and anomalies, and notifying decision-makers about preventative issues and courses of action.
The next step in machine learning is deep learning, the development of artificial neural networks and interconnected web of artificial intelligence nodes. Deep learning is critical to performing more advanced functions by analysing a wide range of factors at once.
Deep learning will have an even more powerful and wider effect on data analysis throughout the organisation as the future business will be seen as one integrated intelligent organism capable of automation, updating and self-sufficiency.
Our new Nucleus Core platform is developed to support all our XGRC product range, as well as other Industry 4.0 business applications, to leverage AI and ML technologies, and enable deep learning networks in an evolving business ecosystem.