AI is now an essential part of how businesses-of-all-sizes stay competitive.

AI-powered businesses across the world are beating competitors by predicting customer behavior, personalizing customer experiences, automating routine tasks, improving go-to-market strategies, managing supply chains with more agility and optimized results and much more.

One of the key agendas of the C-Suite is to consistently work on modernization of businesses and in doing so, the first step is to consider whether – AI can help in executing core business strategy, automating manual tasks for their teams or augmenting workforce performance, and answering key questions to increase productivity and business performance. 

Haystream helps you develop a smart, outcomes focused AI strategy that is pragmatic, cost-effective, and enhances your existing business processes.

The Journey:

While AI needs to be a part of your digital business fabric in the longer term, there are specific areas where companies have successfully applied AI as a way to realize immediate business value, while building an AI competency within their organization. A few immediate opportunities that may be relevant in your business are listed below:

  • Business Operations

    • Paper and Spreadsheet driven business processes that are expensive, manual, and error prone, and include reconciliation. Examples include loan processing and servicing, ingesting structured and unstructured data from multiple sources, transaction processing, regulatory compliance, and fraud detection.

  • Financial Reporting

    • Financial spreading and bursting applications that require extracting data and information from many different sources, cleansing and preparing them for consumption for downstream business applications, such as reporting. Examples include tracking and monitoring investment performance, and preparing consolidated reporting for a portfolio of investments.

  • Customer Engagement and Experience

    • Making the customer service and relationship model more predictive, driven by advanced analytics to increase self-service, optimize how you offer new products, customize pricing and discounting to deepen your relationship while improving sales and margins.

  • Talent Management

    • The pandemic has permanently shifted expectations of the workforce, and there is an expectation of being able to work anytime, anywhere which will require a new way of managing a distributed workforce. AI will be at the core of how you build a distributed corporate culture, manage, motivate and help your people grow, and perform at a very high level in a new, online-driven work model.

  • Manufacturing

    • AI is already driving how a few of the industry leaders proactively predict and service defects or failures. AI will also be applied to other areas such as inventory forecasting, automation of routine non-manufacturing processes, and working with IOT analytics to drive profitability and growth.

The Strategy:

Haystream will help you develop a foundational AI strategy. Our business value first methodology guides our evaluation process to understand your business needs, challenges, risks, and opportunities, ensuring that we develop the optimal strategy to create value quickly, and iteratively continue to generate new value in the future. Our technical expertise in cloud, data, analytics, and application modernization informs our assessment of the technical needs of your organization to align the strategy to bridge current state capabilities to future state. This includes:

  • Exploring current business objectives, challenges, opportunities, risks, and costs.

  • Identifying data sources and systems.

  • Ideating areas to leverage AI.

  • Evaluating ROI on options and fine tuning.

  • Evaluating organizational requirements.

  • Proposing a solution with measurable ROI.

AI Strategy

AI-powered businesses across the world are beating competitors by predicting customer behavior, personalizing customer experiences, automating routine tasks, improving go-to-market strategies, managing supply chains with more agility and optimized results and much more.