Even though artificial intelligence has been a hot buzzword for years, many businesses are wondering how to apply AI to their everyday business problems. Sure, AI has a lot of applications in marketing, because the ability to predict consumer behavior has a direct impact on the bottom line. But what about business processes? Systems? Decision-making?
Kogentix is one artificial intelligence company that is working on applying AI to real-world business problems in order to create solutions that can positively impact the bottom line.
Their focus is on leveraging open source big data technologies to drive value for businesses.
Kogentix’s Vision for AI
Kogentix was founded by experts in data management with a passion for big data. Their slogan is “practical AI fueled by big data.”
Artificial intelligence shouldn’t just be a gimmick used to sell the same old software algorithms in a glossy AI package. Applications for machine learning also go beyond flashy, consumer-friendly implementations such as cute robots and talking computer assistants, like Amazon’s Alexa.
According to their website, “Kogentix solutions integrates cognitive computing and machine learning to build systems that learn about your business, make timely recommendations to improve KPIs, and become increasingly more accurate with every iteration.”
Kogentix uses the analogy of the needle in the haystack to take a different look at data. From a new perspective, the needle in the haystack might not just be about the needle only. Perhaps there is value in the hay itself that is being ignored and underutilized.
Boyd Davis, CEO, remarked when he began his tenure: “Unfortunately, many companies still struggle to identify business value in big data, let alone find the skills to implement and integrate big data solutions.”
Kogentix works with companies to leverage their technologies to get the most out of that data. With a variety of innovative approaches, Kogentix is able to provide creative solutions to a variety of common business problems.
Industries that Kogentix has helped with their AI technologies include telecommunications, manufacturing, healthcare, retail, energy, and finance.
5 Examples of Real-World AI Applications
Kogentix cites a number of innovative and successful AI solutions they provide clients. Of course, Kogentix offers a variety of AI tools to help with customer personalization and segmentation. Here are a few other applications:
1. Smart Energy Grid Management
The 2017 hurricanes that hit Texas and Florida both spoke to the need of better management of the energy grid, particularly in disaster situations. A tragic situation at a Florida nursing home left a number of residents dead after backup generators were not enough to keep the facility cool for its elderly tenants in the late summer heat.
How can artificial intelligence help restore power more quickly? Outage Forensics can utilize AI to determine the root cause of an outage.
2. Product Level Demand Forecasting
Keeping the supply chain running smoothly is critical to any business operation that relies on various parts and products to be shipped and managed in a timely manner. Product-level forecasting can help improve inventory management by determining in advance what might be more or less in demand. This can reduce the amount of time, energy, and space spent on storing unwanted inventory and increase reaction time for wanted items.
3. Smart Fleet Management
As companies get bigger, managing delivery fleets efficiently can become more and more challenging. Analytics can help better track shipments, manage vehicle maintenance through AI prediction, speed up shipments, and improve driver safety. Kogentix’s solution includes GPS tracking of all trucks in service.
4. Internet of Things (IoT) Platform Framework
The Internet of Things (IoT) refers to physical “smart” devices that hook into networks to exchange data. An IoT object might include a refrigerator that can tell when the milk is about to run out, which then triggers an order with the grocery delivery service.
Kogentix works with companies to integrate data with IoT devices, including legacy data. Architectures can be established to support application development as well. This helps companies deliver new products, reduce costs, and increase revenues.
5. Shelf Analytics
AI in retail is becoming more and more important, and one extremely practical use is in store shelf management. Shelf space is often at a premium, and stores want the best-selling products to be featured, while less important products can be relocated or even removed from the store entirely.
Shelf analytics leverages real time deep learning and SKU level object detection to manage store shelves more efficiently and effectively.
Kogentix: Helping Businesses Thrive with AI
Kogentix recently announced the hiring of highly-respected technology strategist Debasish Mukhopadhyay (Deb) as Senior Vice President, Cloud Solutions to help grow the company’s services for incorporating AI into the cloud with Kogentix Automated Machine Learning [AMP] platform. With a strong executive team, a vision, and dedication to helping businesses grow, Kogentix is well-poised to be a major player in AI in years to come.
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