Jan 07
Innovation
It’s normal to be wary of new inventions. I’m sure people were skeptical of the lightbulb when Edison first introduced it to the world. Would it burn up? Was he certain it could work all day? Some people even thought it was magic. Naturally, as time moved on, people came to trust the new invention, and soon the entire world could control light with just a flip of the switch. Similarly, when it comes to Artificial Intelligence (AI) helping your business, it’s normal to be skeptical. But like lightbulbs, there is no magic involved. Let’s ease some of your worries and take a look at three misconceptions about AI and why you can flip the switch on them.
1. Is AI Made for Every-Day Operations?
Do you have an iPhone made after 2017? If you do, you’re probably opening up your phone every day by using FaceID. This whole function is made possible by AI! How’s that for AI practicality?
Artificial Intelligence can fit into any business and help automate intricate business processes. Recurrency uses AI to drive many forward-thinking recommendation features. Our Demand Forecasting watches your inventory levels, rate of turnover, and shipping times to accurately predict when it’s time to place reorders for stock. We don’t want your purchasing team to worry about overstock and stockouts; our carefully-tested AI takes those worries away.Â
2. Will AI Really Fit the Distribution Industry?
This rumor just confuses me. AI is made to tackle any problem you give it. And if you’ve got good engineers (ours are better than good) and a lot of data (something the distribution industry does not lack), AI can make some problems nonexistent. Distributors have to worry about picking the perfect prices for their products. With volatile industry trends and competition, it’s hard not to question the price you settle on. Recurrency’s AI within our Dynamic Pricing feature eliminates that anxiety. Our software ingests thousands of data sets to understand industry trends that apply to your pricing needs. Next, our AI and machine learning algorithms are able to take into account more personal constraints like your company’s pricing rules and its buying history. What you get at the end is a relevant price that your sales team can trust. Sounds like AI fits into the distribution industry just fine.Â
3. Is My Data Clean Enough for AI?Â
Artificial Intelligence features need good data for good recommendations. We all know the saying: garbage in, garbage out. But the Recurrency team thought of this problem and we’d like to set your mind at ease. As Recurrency integrates with your legacy Enterprise Resource Planning (ERP) system, we clean your data. By auto-detecting duplicates, synthesizing records, and flagging outliers, Recurrency makes sure the data being used is spotless. Now, if only our AI could shovel away all the snow in my driveway…Â
It’s Time For the New LightbulbÂ
The distribution industry is due for an innovation and AI is ready for its center stage moment. The Recurrency team has carefully perfected our system’s AI and machine learning algorithms so you can lay any worries you have to rest. Book a demo today and we’ll go through every question you have. Â
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