All of the leading companies in the world are riding the digital wave with innovative tech solutions and by harnessing the cutting-edge emerging technologies like Artificial Intelligence (AI). It is one of the most popular technologies these days and has been identifying new potentials of digital transformation. The technology is used in almost every industry and the applications are increasing day-by-day. One major sector which can exponentially decrease the problems in front of it using AI is refining business processes.
Performance monitoring plays a vital role in refining any business process. It is the process in which the supervisors make sure that their employees are meeting the set goals. Traditionally, these supervisors are humans only but they are not the best option to be considered. In an era where we are progressing in technology with the speed of light, why to stick with old and time-consuming methods for performance monitoring? AI is emerging as a powerful tool for refining the business process by helping organisations in performance monitoring and tackling the major problems faced during the process. Here is how.
Problems in monitoring
Artificial Intelligence can prove to be very effective and efficient in any kind of monitoring i.e. performance, stock, store, or employee activity etc. The current modes used for monitoring rely on manual methods which consume a lot of time and aren’t accurate enough either. Besides, these techniques are only beneficial for a micro-scale organisation and fail as the size increases. In larger businesses, the number of parameters to be monitored can rise up to hundreds or even thousands making the configuration unmanageable. It troubles companies to get meaningful insights and reliable monitoring.
What can AI offer?
AI is the perfect amalgamation of automation, machine learning, and transaction tracing which can open gates to smart solutions for performance monitoring and refining the business process. A fully-fledged, deep, and dynamic 360° map can be made to monitor your entire IT environment and data. The technology can
Actively monitor and predict any problem beforehand
Help you prevent bottlenecks and downtime in critical business processes
Extract real-time business intelligence from IT systems
Reduce time wasted on manual configuration and troubleshooting
Enable the IT infrastructure to impact business outcomes and drive innovation
Detect changes automatically to resource consumption and help control cloud costs
What are the benefits?
1.Consistent real-time assessments
AI can help in establishing modern and agile performance management practices that encourage organising performance review activities at frequent intervals. Annually conducted traditional performance management methods can be erased completely as Artificial Intelligence eliminates the need for fixed intervals entirely by facilitating real-time performance assessments consistently.
People have fixed agendas and targets during the goal-setting process which must be fulfilled within a specific time. AI can be used to monitor this entire process in real-time can provide instant feedback based on status and performance. If the performance is up to the mark, reward the employees but in case they were not able to match the standards, notify them immediately and help them reach the goal. It is a big step towards managing the problem in a timely manner.
2.AI in learning and development
A business process can’t be refined only by real-time assessment methods. Your staff must learn and develop their skills in order to be more productive and efficient than they used to be yesterday. These performance reviews are a perfect way for individuals to identify the skills they need to polish and the ones which are lacking.
AI can be used to provide employees with personalised learning experiences based on their respective performances. In a highly-competitive world where skills have a shorter shelf life than ever before, Artificial Intelligence is the perfect way to determine which employees need to reinvent their skills before they become obsolete and get replaced with better technologies.
People are getting modern and demanding for equality everywhere especially in the workplace. Many companies are trying their best and making efforts to bridge the gap of gender equality but changing the societal beliefs overnight is not an easy task. There are bound to be certain biases, subconsciously maybe.
But not if we use Artificial intelligence. AI is least bothered about the gender of humans while assessing performance, experience or salary. It helps in reducing the gender gap and offer equal opportunity to everyone in the workplace. Same goes for race, ethnicity or nationality apart from the gender.
AI can provide end-to-end visibility in performance monitoring while driving desired results but only if used strategically. Combining AI with automation is the key to enhance employee performance and boost your business functionality which eventually helps you refine the business process. It is an ideal tool to obtain accurate results and save time.