Artificial intelligence, algorithms, and machine learning have been hot topics for some time now, but in the wrong context. While we commonly associate these tools with tech giants, business risk management and performance analysis are the two most common uses of machine learning and digital decisioning.

Well, that’s part of the reason why digital decisions are taking over the business world. Here’s what you need to know!

What Are Digital Decisions?

Digital decisions are a series of complex analytical processes occurring behind the scenes of your digital interface. This is completed with the use of big data, algorithms, machine learning, and other automated technology.

Essentially, these are the processes you don’t see that affect everything you do see and interact with across various AI tools and digital platforms. Overall, it seeks to answer the question “what do I do next?”

For example, this is why your Facebook feed is full of content you enjoy. Behind the interface you see and interact with, sophisticated algorithms make complex decisions based on countless data about you, your previous history with various platforms, and others who have interacted with similar content.

However, you can use digital decisions for more than entertainment. With the right AI, you can even improve your business processes beyond what human-centered work could ever hope to produce. Let’s talk about how this works to better understand.

Benefits of Digital Decisioning

We’ve all had experience with digital decision-making in one form or another, whether we realize it or not. Still, here are the benefits as they apply to your organization so you can see why digital decisions are taking over.

Scale

How do multi-tenant platforms make trillions of split-second decisions that anticipate steps before they’re taken across thousands of potential devices? Machine learning and advanced algorithms, which you cannot replicate at this scale with human-centric work. 

Skilled employees are valuable for many business practices, but nothing can beat digital decisioning when it comes to performing at this scale. Our brains process decisions up to 10 million times slower than computers. While that isn’t much in a split-second decision, compounding that over the course of trillions of decisions is impossible for any amount of human intervention to sustain.

Performance

It’s not simply that digital decisions can produce quantity, they can also dramatically improve the quality of your business processes. In many regards, AI will outperform the best and the brightest, which is why world chess champions don’t stand a chance against a computer. The same logic applies elsewhere, as digital decisions continuously optimize every step of a process for the best outcomes. 

Provide Better Service

Human intervention is not nearly fast enough to give customers or business partners the response time they want. Digital decisioning is a great way to provide an instant response 24 hours a day, regardless of who is on staff.

For example, this is how banks can pre-qualify you for a credit card after you input your information. The AI analyzes the information and makes a decision based on assessed risks and the bank’s history. Any business can incorporate such automation with the right tools.

Saving Money

Even for smaller businesses, the cost of AI is substantially less than the cost of the talent needed for daily business operations, especially for the level of performance needed. If you have hopes to scale your business, there is no substitute.

How Does This Affect Business?

Digital decision-making is taking over in more domains than you may think. The business world is using digital decisioning for everything from reporting and analysis to improving workflow and microservices. 

With FlowWright’s platform, you can even define your own tasks and microservices to fit the machine learning to the needs of your enterprise. Anyone can do this, as it’s a fully graphical, web-based processor that requires little to no coding, and you can take our training course to learn how to make changes.

As your machine learning improves, your business becomes well-positioned for growth and performance across several domains, including customer relations, workflow management, and so much more.

Embrace the New Tool

Now that you know how digital decision-making is taking over, you can make the choice; either use it to improve and scale your business processes or you can let your competition get ahead. No matter what we do, our brains will never be as powerful as AI when it comes to express optimization.

Keep reading our blog for our latest tips to improve your business processes, and check out our case studies to see how our AI performs for other enterprises!