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Deloitte: The top business use cases for AI in 6 consumer industries

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The biggest challenge implementing artificial intelligence is moving from concept to scale. A new report from Deloitte finds that in consumer-related businesses, the challenge is especially difficult because many have large legacy data and analytics platforms, and decentralized data and analytics operations. Another common obstacle is achieving alignment and integration across business units and among IT stakeholders. These consumer businesses include consumer products, retail, automotive, lodging, restaurants, travel and transportation. Yet, "consumer-related businesses are actively exploring ways to harness the power of AI, and many valuable use cases are emerging,'' according to the report, The AI Dossier. However, AI adoption and maturity levels vary widely for reasons including scalability due to data quality and complexity, organizational constructs and talent scarcity, and lack of trust, the report noted. For each industry, the report highlighted the most valuable, business-ready use cases for AI-related technologies and examined the key business issues and opportunities, how AI can help and the benefits that are likely to be achieved. The report also highlighted the top emerging AI use cases that are expected to have a major impact on the industry's future. For example, in customer service, one of the largest segments of customer relationship management, it is now possible to personalize the customer experience across all channels, using machine learning, conversational AI and natural language processing through the customer journey and lifecycle, the report said. SEE: Digital transformation: A CXO's guide (free PDF) (TechRepublic) AI can help by automating customer interactions through the use of chatbots. It can also be used in tandem with Internet of Things devices to sense the sentiments and needs of connected customers and to personalize the customer experience, the report said. Consumer demand planning, forecasting and marketing will also be enhanced through AI, the report said. "As the number of sales channels used by consumers continues to grow, retailers should continue to improve how they plan across multiple sales channels--and how they handle disruptions.


Deloitte AI Institute Unveils the AI Dossier, a Compendium of the Top Business Use Cases for AI

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The Deloitte AI Institute unveiled a new report that examines the most compelling business use cases for artificial intelligence (AI) across six major industries. The report, "The AI Dossier," helps business leaders understand the value AI can deliver today and in the future so that they can make smarter decisions about when, where and how to deploy AI within their organizations. "The AI Dossier" illustrates use cases across six industries, including consumer; energy, resources and industrial; financial services; government and public services; life sciences and health care; and technology, media and telecommunications. For each industry, the report highlights the most valuable, business-ready use cases for AI-related technologies – examining the key business issues and opportunities, how AI can help, and the benefits that are likely to be achieved. The report also highlights the top emerging AI use cases that are expected to have a major impact on the industry's future.