Business Analysts In The Age of Artificial Intelligence
Blog: Business Analyst Learnings Blog
We are living in a world where technology is entrenched in every aspect of our lives. These days, most industries rely on technology to deliver services and products to their clients more efficiently and effectively.
Forbes has even gone as far as reporting that the primary reason for any industry’s success—no matter what it entails—relies heavily on not just how it has adapted to technology, but also on how it continues to adapt to technology in the years to come. In our post on ‘The Pros & Cons Of Innovative Healthcare Technology’, we mentioned that technology has dramatically changed the way services are provided to patients. Doctors, as well as other healthcare providers, can now arrive at better-informed decisions for their patients because of artificial intelligence (AI)-driven medical applications that allow them to access treatment queries and suggestions more efficiently. Similarly, AI—a broad term that refers to any software that engages in humanlike activities—has also taken the business industry by storm, introducing new, more efficient ways for data and business analysts to do their jobs.
AI in the business world
In the business world, AI is commonly present in machine learning and deep learning, as reported by Business News Daily. Machine learning is used to process large amounts of data quickly, while deep learning is an even more specific type of machine learning that works on more advanced functions through neural networks. As technology advances even further, Special Counsel outlines that AI has grown to be able to do almost anything from pinpointing, finding, and reviewing relevant data to removing duplicate records—at speeds no human being could possibly attain. It’s no surprise that industries are now equating technological advancements to greater efficiency and making them so much more effective.
Business analysts in the age of AI
CIO believes that artificial intelligence is great news for analysts. For one, it takes redundant and mundane tasks from them so they can spend their time on worthwhile collaborations, supporting decision-making, and understanding their clients’ needs. AI also encourages analysts to challenge themselves. Technology pushes them to broaden their horizons, learn about new technologies, and think of ways in which AI can be better leveraged.
The age of artificial intelligence also requires greater adaptability from analysts. An article by business analysis veteran Satya Swarup Das noted that analysts should be ready to take on more roles such as business architect and domain expert when it comes to working on AI projects. For business analysts to be successful, they must have a deep understanding of AI and its applicability. At the same time, they must also be open to experimenting and taking note of non-functional requirements that specify criteria useful in judging the operations of a system.
Through AI, analysts can access data that can help them arrive at a better suggestion on what a business must do. The full potential of AI as a supporting tool can only be achieved if business analysts strive to keep up with the times and learn new skills.
In summary, AI asks business analysts to take their valuable skills and apply them in the modern contexts and environments provided by the speedy advancement of technology. If adequately studied and utilized, AI can be a great supporting tool that allows business analysts to focus on more valuable and impactful tasks.