AI Articles and Analysis about Enterprise resource planning

As nearly every American household has realized over the last year, large language models combined with generative AI abilities pose tremendous challenges and opportunities for enterprises of every shape and size. Just ask anyone who has heard of ChatGPT.

MetLife is a leading global insurance company headquartered in New York City. It provides its customers various insurance and financial services, including life insurance, health insurance, retirement plans, and investment management.

Critical to the definition of robotic process automation (RPA) is the notion that the tasks a 'robotic' software automates are repetitive by nature, with exceptions in rare instances. While RPA cannot independently learn from and adapt to new contexts and workflow problems, it can if the RPA system is imbued with the correct AI capabilities. 

It is exceptionally difficult to get started, much less succeed, in AI adoption if one does not have at least a foundational education, particularly in those “modules” pertaining to AI capabilities, requirements, and organizational readiness. A business wanting to implement AI must understand the current state of adoption and how this current state matches up against AI readiness requirements.

There’s more to successful AI adoption than picking the right technology. Business leaders should be aware of the technical requirements of the initiative they’re undertaking, and few of those requirements are as important as data.

Many business leaders make the mistake of believing that AI and machine learning are like regular IT, but this could not be further from the truth. In large part, this is because, unlike simple software solutions for discreet business problems, it can be very difficult to measure the ROI of machine learning.

In the past, we’ve explored the need for insurance companies to adapt to millennial buying preferences through customized policy offerings and a more personalized customer experience. AI could help to these ends, but how could insurance carriers reach this point of AI transformation?

Companies looking to apply AI are looking for a competitive advantage in their industry, something that will give them an edge in the market and help them grow. However, not every AI application can give a company a competitive advantage. Many AI applications are simply going to become the new normal.