Lec 06- Customer value and Role of AI in Value Delivery Process

IIT Roorkee July 2018
1 Dec 202324:30

Summary

TLDRThis AI in marketing certification course module explores the role of AI in enhancing customer value and its integration into the value delivery process. It discusses the strategic and tactical aspects of marketing, emphasizing the importance of AI in optimizing operations and creating personalized customer experiences. The module also covers AI's impact on efficiency, process enhancement, and innovation across various industries, highlighting the potential for AI to drive value creation and transform business models.

Takeaways

  • πŸ“š The course focuses on Module 6, which discusses the development of marketing strategies and plans using AI, emphasizing the role of AI in the value delivery process.
  • πŸ€– AI is increasingly important in marketing due to its ability to understand, attract, and retain customers by offering personalized experiences and real-time feedback.
  • πŸ›οΈ The value delivery process in businesses includes three phases: choosing value, providing value, and communicating value, which are crucial for sustained success.
  • πŸ”‘ Strategic marketing involves segmentation, targeting, and positioning to choose value, while tactical marketing uses the marketing mix (product, price, place, and promotion) to provide and communicate value.
  • πŸ“ˆ AI applications like computer vision, deep learning, and robotics process automation can optimize operations and reduce costs, leading to increased efficiency in the value chain.
  • πŸš€ Companies like JD.com have leveraged AI to improve operational efficiency, achieving a high percentage of same-day or next-day order delivery.
  • πŸ‘Ÿ Nike uses augmented intelligence to design customized shoes, demonstrating how AI can streamline the value chain from design to customer delivery within a short timeframe.
  • πŸ’Ό AR Financial Services Group exemplifies the power of AI in the financial industry, serving a vast customer base with a fraction of the employees compared to traditional banks.
  • πŸ”„ The value chain is a complex system of interconnected business activities that AI can help automate and manage more efficiently, reducing costs and improving decision-making.
  • πŸ› οΈ AI technologies are being adopted across various industries, with high-tech and telecom sectors leading the way, while traditional industries like construction are catching up.
  • 🌐 Salesforce Einstein's use of AI to enhance sales processes and Stitch Fix's deployment of AI for understanding user preferences and stylist matching illustrate the diverse applications of AI in value creation.

Q & A

  • What is the main focus of Module 6 in the AI in Marketing certification course?

    -Module 6 focuses on 'Customer Value and the Role of AI in the Value Delivery Process', discussing how AI is integrated into the marketing strategies and plans to enhance customer value.

  • What are the three phases of the value delivery process mentioned in the script?

    -The three phases of the value delivery process are: choosing value, providing value, and communicating value.

  • How does AI contribute to the strategic and tactical aspects of marketing?

    -AI contributes to strategic marketing by aiding in segmentation, targeting, and positioning. In tactical marketing, AI enhances the marketing mix (product, price, place, and promotion) through personalized experiences, real-time feedback, and operational optimizations.

  • What is the significance of AI in optimizing operations within the value chain?

    -AI optimizes operations by improving efficiency, minimizing costs, and maximizing operational capabilities, which can lead to a shortened value chain, faster production speeds, and better inventory management.

  • Can you provide an example of how a company has used AI to improve operational efficiency?

    -GD.com, one of China's largest retailers, introduced AI to drive efficiencies in their operations, achieving a 92% same-day or next-day delivery rate for orders.

  • How does AR Financial Services Group utilize AI in its business model?

    -AR Financial Services Group uses AI and data from its core mobile payment platform to run a variety of businesses, including customer lending, money market funds, wealth management, health insurance, and even an online game that encourages reducing carbon footprints.

  • What is the role of AI in the value proposition and value chain strategy?

    -AI helps in creating value propositions that appeal to customers by understanding their needs and preferences. It also focuses internally on operations within the value chain, improving the efficiency and effectiveness of business processes.

  • What are the primary and support activities in a value chain?

    -Primary activities in a value chain include inbound logistics, operations, outbound logistics, marketing, and services. Support activities include procurement, technology development, human resource management, and infrastructure.

  • How can AI improve decision-making in the supply chain?

    -AI can analyze data to make better decisions about the purchase of materials, storage capacities, production plans, and more, leading to reduced costs and improved efficiency.

  • What are the three forms of AI-driven value creation mentioned in the script?

    -The three forms of AI-driven value creation are process efficiency, process enhancement, and product and service innovation.

  • What is the current state of AI adoption across different industries?

    -AI adoption varies by industry, with high-tech and telecom companies leading the way, while industries like construction have a lower level of AI implementation. This difference in adoption rates could potentially widen the AI gap between industries.

  • What are the five elements of the emerging technology landscape according to the IDEAS framework?

    -The five elements of the emerging technology landscape according to the IDEAS framework are Intelligence, Data, Expertise, Architecture, and Strategy.

Outlines

00:00

πŸ€– Introduction to AI in Marketing Strategies

The video script introduces Module 6 of an online certification course on artificial intelligence in marketing. It focuses on developing marketing strategies and plans using AI, with a particular emphasis on customer value and the role of AI in the value delivery process. The module aims to provide a background for understanding AI's implications in the customer value chain, exploring the emergence of AI in value delivery, and recognizing its importance in the value chain. It also discusses the current state of AI adoption in value chains and the level of industry adoption. The script outlines the value delivery process in businesses, which includes choosing, providing, and communicating value, and how AI can optimize this process for increasingly well-informed customers.

05:02

πŸ› οΈ AI's Impact on Value Chain Efficiency

This paragraph delves into how AI and algorithms are transforming traditional business processes to serve value more efficiently. AI applications, such as computer vision, deep learning, and robotics, are streamlining operations, improving production speed, and managing inventory flow. The script highlights the case of JD.com, a Chinese retailer, which has significantly increased operational efficiency through AI, allowing for same-day or next-day delivery. Another example is Nike, which uses augmented intelligence to design customized shoes within two weeks. The paragraph also discusses the rise of Ant Financial Services Group, which leverages AI and data to serve a vast number of customers with minimal human intervention, showcasing the potential of AI in operations and value chain delivery.

10:05

πŸ” AI's Role in Value Chain and Strategic Decision Making

The script explains the relevance of AI in the value chain, which is a complex web of interconnected business activities. AI can improve efficiency and reduce costs by making better decisions about sourcing raw materials, storage capacities, and production plans. It also discusses how companies should reimagine their business models and work processes to capture the full potential of AI. The paragraph emphasizes the importance of core business processes in strategic decision-making and how AI can be incorporated into these processes for significant performance improvements. It also touches on the continuous improvement mindset required for AI transformations and the importance of ongoing AI adoption.

15:07

πŸš€ Forms of AI-Driven Value Creation

This section outlines the forms of value creation driven by AI, which include process efficiency, process enhancement, and product and service innovation. It provides examples of how AI can automate repetitive and challenging processes for humans, such as apple harvesting, and how it can enhance existing processes, like Salesforce Einstein's ability to prioritize high-value leads. The paragraph also discusses AI's role in creating new products and services, as demonstrated by Stitch Fix's use of AI for new clothing designs based on customer preferences.

20:08

πŸ“ˆ Current State of AI Adoption Across Industries

The final paragraph examines the current state of AI adoption in various industries, noting that the level of adoption varies significantly. It reports that while over 30% of high-tech and telecom companies have implemented AI technologies, only 15% of construction companies have done so, indicating a potential AI gap between industries. The script also mentions that traditional industries, such as manufacturing, retail, and healthcare, have legacy systems where certain types of AI can be deployed quickly to add value. It concludes by discussing the five elements of the emerging technology landscapeβ€”intelligence, data, expertise, architecture, and strategyβ€”which will be detailed in the next module.

Mindmap

Keywords

πŸ’‘Artificial Intelligence (AI)

AI refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. In the context of the video, AI is central to developing marketing strategies and plans, optimizing the value delivery process, and creating personalized customer experiences. The script mentions AI's role in understanding, attracting, and retaining customers by offering surplus value and real-time feedback.

πŸ’‘Customer Value

Customer value is the worth or usefulness that customers perceive in a product or service. The video discusses how businesses aim to provide customer value at a profit, emphasizing the importance of optimizing the value delivery process to ensure sustained success. The script outlines the value delivery process, which includes choosing, providing, and communicating value to increasingly well-informed customers.

πŸ’‘Value Delivery Process

The value delivery process is the series of activities a business undertakes to deliver value to its customers. The script describes this process as having three phases: choosing value, providing value, and communicating value. It is through this process that businesses can ensure sustained success by offering superior value to customers.

πŸ’‘Strategic Marketing

Strategic marketing involves the long-term planning and decision-making processes that determine how a business will achieve its objectives. In the script, strategic marketing is associated with the first phase of the value delivery process, which is choosing value through segmentation, targeting, and positioning.

πŸ’‘Tactical Marketing

Tactical marketing refers to the specific actions or strategies used to implement the broader strategic marketing plan. The script identifies providing and communicating value as part of tactical marketing, which is achieved through the marketing mix of product, price, place, and promotion.

πŸ’‘Marketing Mix

The marketing mix, often referred to as the 'four Ps' (product, price, place, and promotion), is the set of variables that a company manipulates to improve sales. The script explains that these elements are part of tactical marketing and are used to provide and communicate value to customers.

πŸ’‘Operations Optimization

Operations optimization is the process of making business operations more efficient and effective. The video script discusses how AI can help in operations optimization by improving production speed, managing inventory flow, and streamlining operational processes, thus reducing costs and enhancing capabilities.

πŸ’‘Value Chain

A value chain is a model that identifies key activities that create value and cost in a specific business. The script explains that the value chain includes primary activities like inbound logistics, operations, and marketing, as well as support activities like technology development and infrastructure. AI is highlighted as instrumental in improving efficiency and reducing costs within the value chain.

πŸ’‘AI Adoption

AI adoption refers to the extent to which businesses have integrated AI technologies into their operations. The script explores the current state of AI adoption in value chains, noting that while some industries have embraced AI more than others, there is a risk of an 'AI gap' developing between technology-focused industries and others.

πŸ’‘Process Efficiency

Process efficiency is the degree to which a process is performed in the most effective and least wasteful way possible. The video script mentions that AI can improve process efficiency by automating repetitive tasks, thereby reducing the need for labor and enhancing the overall productivity of the business.

πŸ’‘Product and Service Innovation

Product and service innovation involves creating new or improved offerings that meet customer needs or create new market opportunities. The script provides an example of Stitch Fix, a company that uses AI to identify popular clothing features and recommend new combinations to its in-house design team, leading to the creation of innovative products.

Highlights

Introduction to Module 6 on developing marketing strategies and plans using AI, focusing on customer value and AI's role in the value delivery process.

The importance of understanding AI implications in the customer value chain and its emergence in value delivery.

AI's relevance and importance in the value chain, and its role in AI-driven value creation.

The value delivery process in business includes choosing, providing, and communicating value to customers.

Strategic marketing involves segmentation, targeting, and positioning to choose value, while tactical marketing focuses on the marketing mix for providing and communicating value.

AI's impact on optimizing the value delivery process through algorithms, rather than traditional business processes.

AI applications such as computer vision, deep learning, and robotics process automation that improve operational efficiency.

Case study of a Chinese retailer using AI to achieve 92% order delivery on the same or next day, showcasing AI's efficiency in operations.

Nike's use of augmented intelligence for custom shoe design, reducing the end-to-end process time to 2 weeks.

The rise of Ant Financial Services Group, using AI and data for a variety of businesses, serving more customers with fewer employees.

The value proposition and value chain strategy, focusing on the integration of demand and supply sides of the business.

AI's role in the value chain, from sourcing raw materials to reaching the end consumer, and its potential for improving efficiency and reducing costs.

United States Cold Storage's use of AI for automated appointment schedulers, reducing time and labor wastage.

The importance of examining cost and performance in value-creating activities and AI's role in improving them.

The need for companies to reimagine their business models and work processes to capture the full promise of AI.

The continuous improvement mindset required for AI transformation, as it is an ongoing process rather than a one-time effort.

AI's potential for process efficiency, enhancement, and innovation in product and service design.

Current state of AI adoption in value chains, with a focus on functional areas and industry adoption levels.

The importance of the IDEAS framework for companies investing in AI, covering intelligence, data, expertise, architecture, and strategy.

Conclusion summarizing the importance of customer value, AI's amalgamation with customer value, and its role in value chain and delivery.

Transcripts

play00:00

[Music]

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[Music]

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welcome to this nbdl online

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certification course on artificial

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intelligence in marketing and now we

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will talk about module six so as you can

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see from this slide now we are

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discussing chapter 2 that is developing

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marketing strategies and plans using Ai

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and uh this is the first module in this

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chapter 2 that is module six which talks

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about customer value and role of AI in

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value delivery process so let us start

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with module 6 and these are the things

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that we will talk about in this module

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so to lay the background for

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understanding ing AI implications in

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customer value

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chain so that is already there in that

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Essentials of marketing course to

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explore the emergence of AI in value

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delivery to understand the relevance of

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AI for Value chain to recognize the

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importance of AI in value chain and to

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explore forms of AI driven value

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creation then we will talk about

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understanding current state of AI

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adoption in value chains and to gauge

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the level of Industry adoption of AI now

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let us look at the marketing and the

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customer

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value every business is a value delivery

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system the objective of any business is

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to provide customer value at a profit so

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that is obviously an objective of of

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every company the value delivery process

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includes three phases phase one is the

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choosing value phase two is providing

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value and phase three is communicating

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the value only by optimizing the value

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delivery process and choosing providing

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and communicating Superior value to

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increasingly well-informed buyers can a

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business ensures sustained success so

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keep in mind that we are talking of

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increasingly well-informed

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customers the first phase of choosing

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the value is the essence of strategic

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marketing while the other two phases

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namely providing and communicating value

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is the part of tactical marketing so

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this is a strategic marketing and these

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two are tactical marketing choosing the

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value through strategic marketing

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achieved by the combination of

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segmentation targeting and positioning

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so these three things they form the part

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of a strategic

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marketing providing and communicating

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the value is achieved by the means of

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tactical marketing which is expressed

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through the mix of product price place

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and promotion together called as four

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piece or the marketing mix so these four

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piece

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are providing and communicating

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value and they are tactical

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marketing while

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STP is choosing

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value and this is strategic marketing

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strategic marketing and tactical

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marketing when they come together they

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constitute marketing strategy so major

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marketing related tasks involved in each

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phase are displayed in figure one on the

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next slide so this is the value delivery

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process the first is choose the value

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the second is provide the value and the

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third is communicate the value and this

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is the value creation and delivery

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process so here we talk of customer

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segmentation Market selection and focus

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and value positioning then we talk of

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product development service development

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pricing sourcing making and distributing

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services and at the third is the sales

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force sales promotion and advertising

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and this is the value delivery

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process

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now let us look at the value delivery

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process and AI there are hundreds of

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different ways of optimizing the value

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delivery process by deciding how form

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will Source create sell communicate and

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deliver value to the customers in recent

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years the business world has seen the

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emergence of artificial intelligence as

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the main source of Val creation and

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delivery so this is

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why artificial intelligence is so

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important for marketing that it has now

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become a main source of value creation

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and

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delivery so there is a rise of new kind

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of forms where value is served up by

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algorithms rather than traditional

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business processes operated by workers

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managers process Engineers or customer

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service Representatives Ai and

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algorithms can help business understand

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attract and retain their customers by

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offering them Surplus value personalized

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experiences and realtime feedback AI

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also helps the efficiency of value Chain

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by operation optimized for a firm so

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that is another advantage that the

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operations are optimized inefficient

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operations slow down the movement of

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products through the value chain moving

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the customer further away from a

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successful

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purchase AI applications assisting with

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operations optimizations are designed to

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improve operations efficiency and

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effectively by minimizing cost and Ma

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maximizing operational capabilities

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AI applications for this purpose include

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AI related cnsi Services computer vision

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deep learning Edge

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AI intelligent applications machine

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learning robotics process Automation and

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virtual assistants all these AI

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applications shorten the value Chain by

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improving production speed and managing

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inventory flow to the customer

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streamlining operational processes

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creates efficiencies across the value

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chain for example gd.com one of the

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China's largest retailers has introduced

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AI to drive efficiencies in their

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operations the introduction of AI

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applications allowed the retailer to

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deliver 92% of the order on the same or

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the next day now you see this is the

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amount of efficiency that they have

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achieved Nik implemented augmented

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intelligence to design customized shoes

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for its customers and the end to endend

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process only takes 2 weeks from the

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design to customer delivery So within 2

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weeks that is 14 days 14 to 15 days the

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design and delivery happens optimizing

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operations can offer unexpected benefits

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by increasing operational

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efficiency increasing agility and speed

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across the value chain these

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improvements should be driving force

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behind implementing AI in operations and

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value chain delivery now let us look at

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the rise of anunt financial Services

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Group uring the financial transformation

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in 2019 just 5 years after the AR

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Financial Services Group was launched

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the number of consumers using its

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services passed the 1 billion Mark AR

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Financial uses artificial intelligence

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and data from alipe its

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core Mobile payment platform to run an

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extraordinary variety of

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businesses its businesses include

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customers Lending

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money market funds wealth management

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health insurance and even an online game

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that encourages people to reduce carbon

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Footprints the company serves more than

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10 times as many customers as the

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largest US Banks with less than one 10th

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the number of employees now you see this

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is the

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efficiency and Effectiveness that has

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come

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in they have 10 times more customers

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with one/ tenth of employees unlike

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traditional Banks investment

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institutions and insurance companies

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there is no manager approving loans no

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employee providing Financial advice and

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no representative authoring medical

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expenses rather everything is being done

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by AI without the operating constraints

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that limits traditional forms AR

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Financial can compete in unprecedented

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ways and Achieve unbridled growth and

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impact across a variety of Industries

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next comes the value proposition and the

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value chain value proposition is the

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element of strategy that looks outward

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to the

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customers at the demand side of the

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business the value chain focuses

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internally on operations so that is

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customer

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facing and this is operations

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facing the strategy is fundamentally

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integrative bringing the demand and

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Supply site together so a strategy links

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value proposition and the value chain

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and that is the job of a

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strategy typically value propositions

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based on needs appeal to a mix of

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customers who might defy traditional

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demographic segmentation now let us look

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at what is value chain a value chain is

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a tool for

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identifying Key activities that create

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value and costs in a specific businesses

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so we are looking at the value and the

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cost the value chain comprises primary

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activities and support activities that

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create value and cost in a specific

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business and are performed

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to

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design produce market deliver and

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support its

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products so this is what a value chain

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looks like so these are the primary

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activities inbound Logistics operations

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outbound logistic marketing and services

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and these are secondary activities and

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these are primary activities and

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secondary activities includes

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procurement technology development human

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resource management and

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infrastructure and the firm's

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infrastructure so the the combination of

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these primary and secondary activities

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will lead to margin so if the

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combination is is is good then this

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margin may increase if it is

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not good then the margins May

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decrease now let us look at the

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relevance of AI in value chain a value

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chain is a complex interconnected web of

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business

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activities which is automated and

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managed by several

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stakeholders so keep in mind that it is

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a complex interconnected web of business

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activities some of them are automated

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and they are managed by several

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different stakeholders so there is no

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one person that is or one organization

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that is managing the value chain the

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process begins with sourcing raw

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material from suppliers and ends with

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the product reaches the end consumer it

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is a prime example of an environment

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where artificial intelligence can help

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improve efficiency and reduce cost

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businesses can leverage AI to make

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better decisions about the purchase of

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materials so now you see that we are now

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using AI to decide about the purchase of

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material draw material storage cap

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capacities production plans and and and

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much more by understanding the use of AI

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in the supply chain the United States

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Cold Storage one of the largest cold

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storage companies developed and

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automated appointment schedulers to

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accurately predict the arrival time of

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carriers and the time taken to service

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them while scheduling an appointment so

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that reduces lots of wastages

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wastages in terms of time in terms of

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Labor and in terms of

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money the firm's task is to examine its

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cost and performance in each value

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creating activities and look for ways to

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improve it so all the value creating

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activities we have to look for the cost

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and performance and then how to improve

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that the rise of AI Technologies is

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generating Noel opportunities so now

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with AI we can have Noel opportunities

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for companies in each value creating

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activity to create additional customer

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value to capture the full promise of AI

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companies must reimagine their business

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models and the way work gets done the

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Core Business processes are highly

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relevant in a form's decision to a

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incorporate AI in a strategic decision-

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making processes so these Core Business

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processes Define how to incorporate AI

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in the Strategic decision- making

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process when incorporating AI The Firm

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should identify a crucial business

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process also referred as domain and

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rethink it completely introducing

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changes throughout an entire core

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process Journey or function which will

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lead to a major Improvement in

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performance that isolated application

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simply cannot match it also will enable

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each AI initiatives to build off from

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the the previous ones for example

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reusing data or advancing capabilities

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for a common set of

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stakeholders and trigger an organic

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cycle of change within the domains and

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ultimately build momentum for the use of

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AI throughout the large organization as

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Business Leaders and employee see it

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work

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moreover this approach promotes a

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mindset of continuous Improvement in the

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workforce so that mindset is also

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important that comes in this Workforce

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the mindset of continuous Improvement

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which is crucial because AI technology

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is advancing rapidly requiring

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organizations to think of AI

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Transformations as

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ongoing rather than onetime

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efforts so this AI transformation is

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ongoing process it is not that you you

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implement AI one time

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and and then it ends no

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no it is

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continuous now let us look at the forms

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of AI driven value creation AI is

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improving precision and speed in many

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value chains phases such as

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Communication customer insights design

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manufacturing deliver designing

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manufacturing delivering and Retail

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by improving the prion and speed of

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these functions the following key

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improvements are possible one is process

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efficiency another is process

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enhancement the third is product and

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service Innovation so these are the

play15:47

forms of AI driven value efficiency the

play15:51

process efficiency process enhancement

play15:53

and the product or service Innovation

play15:57

now let us look at what AI efficiency is

play15:59

and how AI process efficiency is and how

play16:03

AI is going to benefit that so AI

play16:05

automation often improves repetitive

play16:07

processes that are not enjoyable and

play16:11

challenging for humans for example

play16:14

abundant robotics have designed AI

play16:15

powered automated machines to harvest

play16:18

apples reducing the amount of Labor

play16:21

needed since manual apple picking is

play16:24

physically demanding and labor Supply is

play16:26

low Farms have an incentive to improve

play16:29

this process so obviously this was a

play16:32

time consuming and money consuming

play16:34

process so Farms has had had an

play16:36

incentive to improve this process the

play16:39

next comes process enhancement AI can

play16:42

also enhance existing processes leading

play16:44

to better outcomes for the customers so

play16:47

earlier we were talking about efficient

play16:49

uh creating efficiency in the processes

play16:52

now we are talking of enhancing those

play16:54

processes so that uh it can lead to

play16:58

better out outcomes for the users for

play17:00

example Salesforce Einstein can provide

play17:03

leads for a salesperson and hide those

play17:06

that have a very low likelihood of

play17:08

converting to a sale this enhances the

play17:10

sales process allowing Executives to

play17:13

debate high quality time to high value

play17:15

leads so this matchmaking

play17:20

makes the process enhances the process

play17:23

the third is product or service

play17:25

Innovation so AI can enable the creation

play17:28

of new products and services as seen

play17:30

with Stitch fix a personal styling

play17:33

service e-commerce company AI can power

play17:36

new product design using data from

play17:39

multiple sources to predict

play17:41

styles that can resonate with the

play17:44

customers so now ai is being used for

play17:47

new product

play17:49

designs the company uses AI to identify

play17:51

popular clothing features and recommend

play17:54

new combination of these features to

play17:56

stitch fix in-house design team so the

play17:59

design team can can come up with an

play18:01

entirely new product a different kind of

play18:03

product so current state of a adoption

play18:05

and value chain the first is the

play18:07

functional areas of AI deployment

play18:10

companies are experimenting with and

play18:12

adopting AI Technologies across their

play18:15

value chains most of these efforts have

play18:18

been invested in non-core support

play18:21

functions so we are talking of non-core

play18:24

support functions in one survey of 3,000

play18:28

professionals over 25% of respondents

play18:31

reported having adopted AI in each of

play18:33

the following support

play18:36

functions one is the it so they are

play18:39

using AI in it customer services

play18:44

Marketing sales and Finance and

play18:46

Accounting all all at all these places

play18:50

the AI has been

play18:54

deployed however in contrast to how

play18:56

other new digital technologies have

play18:58

entered the Enterprise companies are

play19:00

also investing in uh investing in AI for

play19:03

core

play19:04

functions so till now the companies were

play19:07

investing in non-c functions now the

play19:09

company have also started investing in

play19:11

core functions for ex for

play19:14

example Stitch fix deploys deep learning

play19:17

to understand a user's clothing

play19:20

style so this is one type of AI to

play19:23

understand the users clothing style

play19:25

based on the Styles they like on P and

play19:28

also deploys machine learning to match

play19:31

stylists with users so on the one hand

play19:35

it is coming up with new Styles and

play19:37

other on the other hand it is also

play19:39

matching stylist with the users next let

play19:42

us look at the industry adoption level

play19:45

so as to be expected the role of AI play

play19:47

in value chain today varies by industry

play19:50

so some are more some are at a higher

play19:52

level of adoptions are at the lower

play19:54

level of adoption so according to a

play19:55

McKenzie report over 30% of Hightech and

play19:58

telecom companies have implemented at

play20:01

least one AI technology whereas only 15%

play20:06

of construction companies have pursued

play20:08

such advancements going forward there is

play20:11

a risk that differing rates of adoption

play20:13

could widen the AI gap between

play20:17

technology focused Industries and other

play20:19

Industries so obviously this technology

play20:22

focused industry will adopt will use AI

play20:26

more as as compared to the other

play20:29

industry so while technology Centric

play20:31

Industries may be investing in AI more

play20:33

heavily than other

play20:35

Industries opportunities still exist for

play20:38

strong return on investment for targeted

play20:40

application in more traditional

play20:42

Industries so although AI is being used

play20:45

in technology Centric industry but there

play20:48

is a huge

play20:51

scope of using AI in more traditional

play21:00

and mature

play21:05

Industries like your

play21:14

construction Jim siai VP of product

play21:17

marketing for Salesforce so

play21:19

salesforce.com is the company Salesforce

play21:22

Einstein advocated that because of a

play21:24

very fact that traditional Industries

play21:27

such as Manufacturing

play21:28

retail and Healthcare have Legacy

play21:31

systems certain types of AI can be

play21:33

deployed relatively quickly and add

play21:35

value so because they are they are

play21:37

mature Industries so they have certain

play21:39

types of uh Legacy systems but still in

play21:43

those Industries also AI can be

play21:45

deployed to add value so retail is in

play21:48

the middle range of AI adoption and

play21:51

investment growth so AI

play21:57

adoption and investment growth and

play22:02

investment coming back to AI uh and

play22:05

value chain businesses can employ AI in

play22:08

corporate support functions customer

play22:10

predictions and content

play22:14

Effectiveness companies that want to

play22:16

invest in key digital Technologies such

play22:19

as cloud computing and AI should focus

play22:21

on five elements of emerging technology

play22:24

landscape the five elements are

play22:28

this emerging technology landscape the

play22:30

five elements of which are intelligence

play22:33

two data three expertise the fourth is

play22:38

architecture and the fifth is

play22:41

strategy which comes from ideas

play22:44

framework so this ideas framework as you

play22:48

can now

play22:51

see it stand for intelligence data

play22:54

expertise architecture and strategy and

play22:57

that we will discuss uh in detail in the

play22:59

next module so to conclude we have

play23:03

discussed the importance of customer

play23:05

value in marketing and studied the

play23:07

customer value chain one second we have

play23:10

discussed the amalgamation of AI and

play23:12

customer

play23:13

value the third we have discussed the

play23:15

relevance of and importance of AI in

play23:17

value chain and value delivery and then

play23:20

we have understo we have explored the

play23:23

three forms of AI driven value creation

play23:26

which are process efficent icy process

play23:29

enhancement and product and service

play23:32

enhancements AI is being implemented

play23:35

across the value chain in the functional

play23:37

areas of

play23:38

AI customer service Marketing sales

play23:41

Finance and

play23:43

Accounting and then finally we have

play23:45

discussed the adoption level of AI in

play23:47

different industry which is obviously

play23:49

different at different points in time

play23:51

across different Industries and these

play23:53

are the books from which the material

play23:55

for this module was taken thank

play23:59

[Music]

play24:06

[Applause]

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[Music]

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you

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Related Tags
Artificial IntelligenceMarketing StrategiesValue DeliveryCustomer ValueAI AdoptionOperational EfficiencyData-DrivenInnovationRetail IndustryTech Advancement