This is an excerpt from an interview Generis Group did with Jaime Velez, Co-founding Partner and Senior Consultant at Operations and Quality Systems Improvement Experts (OQSIE) prior to the 2018 American Medical Device Summit.
“By combining AI and BI, companies can get the best of both worlds – speed and scale. They benefit from the massive data-processing capabilities and speed of computers (AI), combined with actionable, business-impacting information driven by analysis, exception identification and escalation protocols (BI).
What is the number one reason to begin thinking about leveraging AI/BI?
Speed is the biggest reason. Today’s businesses have massive amounts of information generated by more and more sources. In many ways, there is a human factory of people spending significant amounts of time accumulating, organizing and manipulating data. Instead of using data to drive rapid decisions, achieve business objectives and generate a profit – companies are spending time and resources to find relevant information buried in their data with often such a lag in time that the issues needing attention have happened without a timely response.
This is where AI and BI can make a huge impact – by making large amounts of data actionable. A combination of AI/BI system assimilates and analyzes large data sets, but also allows for the right conclusions to be consistently made, at the speed of computing. It finds patterns in data, augmenting human analytics and automates escalating the exact piece of information, in the most appropriate way, to the right person.”
Questions discussed:
- How do you define artificial intelligence (AI) and business intelligence (BI)? How do you distinguish between them and how do they work together?
- What is the number one reason to begin thinking about leveraging AI/BI?
- What are some ways medical device manufacturers are already leveraging AI/BI?
- What are some ways medical device manufacturers could improve by leveraging these things? What’s the best place to start?
- How does OQSIE help medical device manufacturers to leverage AI and BI?
- What are you going to talk about at the American Medical Device Summit in October?
Click through to read the full interview here.
Jaime will be speaking at the 2018 American Medical Device Summit about “Leveraging Artificial and Business Intelligence to Drive Productivity Improvements”.
