[DSC DACH 24] AI-Powered Data Insights and Process Optimization: A Comparative Study of Banking and Manufacturing - Dragan Vucic

In today's fast-paced business environment, the synergy between AI-enhanced data collection, processing, and process improvement is becoming increasingly vital. Organizations are leveraging the power of AI to gather and analyze data, driving significant improvements and optimization across various industries and functions. AI's ability to collect and process vast amounts of data allows businesses to identify inefficiencies and streamline operations with precision. By analyzing data in real-time, AI provides actionable insights that can lead to optimized resource allocation, reengineered workflows, and automation of repetitive tasks. This continuous feedback loop, facilitated by AI, ensures ongoing process enhancement and operational efficiency. The implementation of AI for data collection and processing, however, is not without its challenges. Organizations must ensure data accuracy, completeness, and currency, as poor data quality can result in unreliable insights and suboptimal decisions. Integrating AI systems with existing processes requires careful alignment between business objectives and technological initiatives. Despite these challenges, the benefits of AI-enhanced data collection and processing for process improvement and optimization are profound. By integrating AI into their data strategies, organizations can stay ahead of the competition, achieve superior operational performance, and deliver greater value to their customers. This interconnected approach of AI-driven data analytics and process optimization sets the stage for sustained business success. The talk will focus on a comparative analysis of banking and manufacturing, exploring various dimensions including applicability, approach, technology integration, innovation, data utilization, and other relevant considerations.

1. (AI-Powered) Data Insights and Process Optimization Comparative Study of Banking and Manufacturing Dragan Vucic Cyclos Systems

2. Few words about me Interests: BPM+Data+Technology , Learning Organization/al Learning, Professional experience: Banking and IT Consultancy: Banking, Wood and Metal Processing Research: Université catholique de Louvain Certifications: Process mining, Internal control

3. AI across industries

4. Some of interesting misconceptions AI = GenAI AI can (t) solve any problem AI works perfectly without errors AI is autonomous AI is (only) for AAA firms/sectors ......

5. Data Collection and Availability Context Data type Data source Usage

6. Process Optimization and Improvement Focus Key actions Impact

7. Predictive Analytics Focus Data (time) Goal

8. Automation and Reengineering of Workflows Automation focus Key technologies Impact

9. Customization and Personalization Focus Key actions Impact

10. Challenges Regulatory compliance Legacy systems Data sources Implementation costs System integration Data privacy Data quality System compatibility Data relevance

11. Banking Manufacturing Operational Processes financial transactions, risk management, customer service, and regulatory compliance production processes, supply chain management, inventory control, and quality assurance Technology Integration integrated digital platforms real-time insights via chatbots, robo -advisors, and fraud detection tools. IoT, robotics, and ERP systems to enhance production automation and inventory management. Regulatory Environment strict compliance requirements, including anti-money laundering (AML) and know-your-customer (KYC) regulations industry-specific standards, environmental regulations, and safety protocols To sum up

12. Banking Manufacturing Customer Interaction Direct interaction Indirect interaction Product Development and Innovation financial products, digital services, and customized financial solutions based on customer data product design, material science, and manufacturing techniques Sustainability and ESG evaluates ESG factors in investments and develops sustainable financial products helps reduce waste, emissions, and energy consumption, optimizing for sustainability Risk Management assesses financial risks, predicts fraud, and ensures compliance predicts equipment failures, minimizes downtime, and optimizes supply chains.

13. Questions, comments?

14. [email protected]