"Hey, Siri! What’s, the temperature outside? Should I get a jacket or a sweatshirt? And the credit goes to... Artificial Intelligence! To be precise, Artificial Narrow Intelligence.
With all the excitement for the Buzz word AI right around the corner, it seems to be affecting our lives moment to moment from “Hey Alexa!” to self-driving cars. This fashionable sphere of AI has outgrown finding its space into successful enterprises and startups.
For AI, the system takes in the information from its environment and works on maximizing the chances of achieving goals making it “humanly-like intelligent”. A study by Oxford University predicts that by 2035, nearly 47% of all the “works” will be taken over by AI. Now you know that AI is well on its way to taking over planet Earth, what can we mortals do next? AI should not attempt to replace human experts, but rather extend human capabilities and accomplish tasks that neither humans nor machines could do on their own.
Artificial intelligence is going to permeate every sphere of human endeavor. From expanding a service offering to discovering a new market, Business Analysts play a crucial role in the success and future of any organization. The skills of a Business Analyst are now heading and expanding towards endless possibilities with AI and data science. AI is to be used by BAs to work smarter and obtain maximum potential data. Additionally, AI can be used by Business Analysts to increase customer retention. Business Analysts should move away from the traditional methods of obtaining customer data - that could usually be quite time-consuming to find out the best prediction patterns on when, how, and why a customer leaves their vendors/clients - to AI. Customers’ purchasing decisions could also be influenced by AI in tailoring personalized recommendations. AI systems can process an individual’s transaction history and characteristics and business analysts can then use these variables to better design a solution for stakeholders that deliver immense value. In today's economy, a company can market itself more effectively when they deliver better services and quality products.
AI in quality can increase the productivity of a business analyst by detecting high-risk areas for testing, decreasing the overall costs, increasing customer satisfaction, and profitability. Understanding a project’s target audience and developing valuable touchpoints for the stakeholders can be delivered using an AI. With the latest advancements in AI, a market can be analyzed through various mediums and a perfect solution can be crafted with the best composition of features that they would need. While the science-fiction version of AI may be a distant possibility, we already seeing more and more AI involved in the decisions we make every day. Over the years, AI has proven to be useful in various domains, impacting the lives of people and our society in meaningful ways.
AI in Business Analysis can provide possible insights on Technology Overview, Customer Overview, Value Proposition, and Market Overview based on tons and tons of past data. And more good news! You’ve now got someone to help you at the office! Imagine a system that could study your business analysis work style and predict possible flaws that will help you better drive your efficiency at work. Mind you, this can be resonated across multiple domains including Quality Analysis and Project Management. AI reads and analyzes data, but the work of a business analyst is not limited to just that. Data analysis has to be applied to the context which influences decisions and requires a human mind. Adaptability is a particular skill that requires real-life experience with a better understanding of the context which may be challenging to achieve in the foreseeable future
So, any work that needs decision making based on the context and different goal targets will need business analysts and that is YOU!
Bottom line: As a business Analyst, powerful AI systems can provide you with valuable guidance which in turn makes your life easier, along with a substantial ROI to your Organization. In a world of dramatic digital transformation, Organizations are looking to AI to help them shape the future of work.