The IIL Blog
OCTOBER 24, 2023
In November 2022, when ChatGPT was made available to the public, it put Artificial Intelligence (AI) into the spotlight for all people – not just ‘techies’ and those who have followed AI for a long time. Indeed, Artificial Intelligence is not really new. The groundwork for AI started in the 1900s [1]. Lohr, “ The A.I.
Wrike
MAY 20, 2023
Modern technologies such as artificial intelligence, big data, cloud computing, and the Internet of Things (IoT) are all key components of digital transformation. The use of data and machine learning made it possible for banks to easily detect fraudulent activities, manage risk, and develop more accurate credit scoring models.
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Wrike
SEPTEMBER 2, 2023
Understanding Process Innovation Process innovation refers to the redesign and improvement of existing business processes to achieve enhanced efficiency, effectiveness, and competitiveness. Organizations can leverage technologies such as artificial intelligence, machine learning, and big data analytics to drive process improvements.
Wrike
SEPTEMBER 2, 2023
It involves coordination and collaboration among various stakeholders, including suppliers, manufacturers, distributors, retailers, and customers. Reducing lead times: Lead time refers to the time it takes for a product to move through the supply chain, from the initial order to its delivery.
Wrike
JANUARY 24, 2024
Example: An online retailer begins investing in advanced inventory management technology. Photo by Petrebels on Unsplash Introducing inventory lists While proper inventory management contributes to a successful business, an effective inventory list serves as the main reference point for all things tracking and managing.
Wrike
JUNE 11, 2023
Customer behavior refers to the actions, attitudes, and decision-making processes exhibited by individuals when purchasing products or services. Amazon and Netflix Amazon, the world’s largest online retailer, has revolutionized personalized recommendations by analyzing customer browsing and purchase history.
Wrike
SEPTEMBER 2, 2023
For instance, a retail store may have customer service representatives available in-store, ready to assist customers face-to-face. Leveraging technology such as machine learning algorithms: Analyze customer data and predict future needs and preferences.
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