Artificial Intelligence, key to business data analysis

Artificial Intelligence transforms the way companies analyze large amounts of data. The benefits of incorporating AI in business management are in terms of efficiency, precision and speed. Facilitates strategic decision making in a company.

AI analyzes large amounts of data very quickly. The support offered to companies focuses on the speed and effectiveness when processing large amounts of information.

Esteban Rioja Michel, director of the Commercial Engineering program at the Franz Tamayo University, Unifranz Cochabamba, assures that AI can identify patterns automatically and make recommendations based on those patterns. Manual labor delays the processing of the same data for a much longer time.

“For example, if a company sells clothing, AI can analyze sales data and tell them which styles are most popular with a certain segment of the population or which colors people are buying the most in,” he points out.

Meanwhile, Hammeleth Saavedra, director of the same race, in the city of Santa Cruz de la Sierra, indicates that the AI ​​is changing the shape how companies analyze data allowing faster and more accurate processingidentifying patterns and trends, and automating tedious tasks.

“All of this translates into better decision-making and the identification of opportunities for improve business performanceSaavedra says. According to the academic, AI is transforming companies thanks to the automation of repetitive tasks, natural language processing, prediction and advanced analysis through machine learning algorithms, and image and video analysis.

Benefits of AI in data analysis

The benefits are many and varied. According to the criteria of the specialists consulted, the most important are:

Faster processing speed of large amounts of data.

ID patterns and trends. Detect patterns and trends that may not be apparent to humans.

The analysis of data happen in real time. It allows great optimization in decision-making time, using current and relevant information.

a automationNo of processes. Artificial intelligence will be able to convert manual processes into automatic ones, which generates greater efficiency and profitability, avoiding investing time in “artisanal” work.

Personalization of the customer experience. For example, you can recommend relevant products or provide automated responses to common questions.

Error reduction. Which is especially important in the analysis of critical data, such as financial data.

Accessible information helps the daily management of companies. The use of AI streamlines the processing of this data

Bolivia, on a par with other countries in the use of AI

Although the adoption of Artificial Intelligence (AI) in Bolivia is still at an early stage, some companies are already using this technology to improve their efficiency and competitiveness. However, compared to other countries in the region, the country still has a ways to go to catch up in the use of AI.

Countries like Brazil, Mexico, Chile, Argentina and Colombia have made significant progress in the adoption of AI and are investing in its development. These countries have a larger number of companies using AI in various industries, and are working on the training of professionals specialized in this technology.

“However, Bolivia has a large number of young talent trained in technology and science, and it also has universities and companies that offer training and education in AI (…)”, adds Saavedra.

Items such as banking and finance, have more contact with these technological tools like some emerging startups that use AI to automate their sales or analyze data.

“Our country has a very long way to go compared to other countries in the region and to travel this path, initiatives and efforts are necessary to improve the training and education of professionals in this field,” says Rioja.

AI is revolutionizing Commercial Engineering

Tools such as AI, data analysis and automation are revolutionizing Commercial Engineering since the professional in this area must have knowledge that other generations saw as impossible to handle.

Data analysis facilitates the daily tasks of companies. They accumulate a lot of information, but at the same time, they do not have the knowledge to be able to make effective use of this database. It is there where a commercial engineer who has knowledge in this area can make a great contribution when synthesizing and obtaining really valuable information.

Its use in electronic commerce is felt when looking for efficiency. Future professionals must be able to compete in this market using tools such as digital marketing to attract new clients.