Artificial intelligence and machine learning technologies are quickly becoming “the new normal.” Despite alarmist sci-fi predictions about AI from Elon Musk and Stephen Hawking , these innovations are set to transform the way wholesale distributors do business.
Machines, computer software, and algorithms can now understand written and spoken words at a deep level. Some are refined enough to determine the meaning of images and video media. They can even extrapolate possible futures. Analytics and data intelligence are enhancing business processes and facilitating more intuitive customer service practices.
A new level of insight
Artificial intelligence and machine learning technologies have enabled computers to compete with and, in many cases, surpass human ability. They are making their way into many domains that were previously reserved for humans, and this frees up human resources for more value-added tasks.
In addition to automating mundane tasks, machines are taking over increasingly complex functions in all lines of business. Machines with the ability to take on more intricate work tasks enable a new level of automation across all areas of business. These innovations are particularly valuable for wholesale distributors.
Automation frees up assets for strategic advances
Just as in the retail space, clients in the wholesale distribution industry have higher expectations as well as heightened influence. Increased efficiency, being easy to do business with and reducing errors is paramount. Wholesale distributors are now able to create smarter, more intuitive and more efficient processes than ever before. With the supply chain process streamlined, resources are freed up for more strategic activities. Digital transformation embodies making full use of machine learning as well as the internet of things, data intelligence, more refined analytics, big data, block chain, the cloud, design thinking and related innovative technologies.
Wholesalers of all sizes can benefit
The IoT (Internet of Things) is a dynamic “network of networks” connecting components and endpoints in the business world. This facilitates communication without the need for human interaction. This advance is foundational to the efficacy of artificial intelligence and machine learning in business. […]