How AI Is Helping Companies Redesign Processes
The idea of business process reengineering is making a comeback, this time driven by artificial intelligence (AI). In the 1990s, the implementation of enterprise resource planning systems and the internet allowed companies to make changes to broad business processes, but the expectations of the radical changes hoped for were often unfulfilled. However, AI enables better, faster and more automated decisions, allowing companies to improve efficiency and produce better outcomes. Companies — from banks to industrial firms — are already using AI to transform their processes.
In the 1990s, business process reengineering was all the rage: Companies used budding technologies such as enterprise resource planning (ERP) systems and the internet to enact radical changes to broad, end-to-end business processes. Buoyed by reengineering’s academic and consulting proponents, companies anticipated transformative changes to broad processes like order-to-cash and conception to commercialization of new products.
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