What to expect in business due to rapid AI developments:
Data entry into business software will soon end.
What do you mean? Can you give an example? How soon? What social impact do you expect? What’s next?
What do you mean?
Many business processes involve steps in enterprise resource planning (ERP) software such as SAP, the business software used by many companies, and Odoo, a suite of business management applications. For example, the salesperson records a sales order, the finance controller a budget, and the buyer a purchase order.
Recording business transactions and details in an ERP benefits the whole business by improving processes and teamwork through shared information, not individuals.
What is the impact of AI on minimizing data entry and ERP interaction?
An example of this is like this:
“Please check the supplier payments from the 4th Quarter last year. We overpaid by 3 %. The excess from last year needs correcting on the invoices for the next 3 months this year. List the line items for project 3.2 on the affected invoices.”
Imagine the functions and actions needed to complete a task with an ERP in a large organization, including admin personnel, general management, supplier management, junior and senior controllers, and finance manager.
This can be done with AI trained on their business data and presented to the finance manager for decision making.
In the future, AI could validate this transaction for legal and fiscal consequences like an external accountant, and give independent advice or suggest a safer approach for the same result.
When will it happen?
Large companies require AI training on their premises with no data sharing, while smaller companies may not.
The technology is here, no fundamental breakthrough necessary, just diligent AI practice for business.
It's about having the right people and the right AI minded suppliers.
What impact do you expect?
This can be done now and released soon. Smaller ERP suppliers will release it in 12-24 months and the behemoths will follow in 3-5 years.
Smaller ERP suppliers are integrating AI in their ERPs to help their clients compete and save on staff while growing.
Large companies will adopt AI slowly, but more business functions will be supported by agents trained on complete business data. The need for staff will diminish over time, leading to unfilled open positions instead of widespread job cuts.
What’s next?
Is AI preparing, analyzing, and making business decisions?
Call to action.
Please share more examples of this happening. I'm interested, and others might be too.