Author: Sandra Maycotte, researcher at Center for Digital Evolution of the Business School of Tecnológico de Monterrey
Digital technologies, such as artificial intelligence (AI), virtual reality (VR), blockchain, big data, cloud storage, 3D printing, among others, promise to transform work processes.
Companies seek to develop their digital capabilities and use technology not only to improve their efficiency and competitiveness, but also to strengthen their financial performance and reduce risks. However, business processes and strategic decision making cannot simply be delegated to a machine.
Both human beings and technology have unique strengths and weaknesses, and knowing how to take advantage of the benefits they provide to put them at the service of the company becomes an opportunity to strengthen their competitive advantage in the face of the technological disruption they face.
What are the advantages of machines over humans? A recognized advantage of digital tools is their ability to process large amounts of data and recognize patterns. An example of this technological capacity is seen when our online entertainment provider, such as Netflix or Prime Video, suggests series or movies according to our tastes, even when we are not fully aware of them.
The same thing happens when we see ads on Instagram, Facebook or Amazon with personalized suggestions based on algorithms, which are capable of predicting future product purchases, based on personal tastes.
Furthermore, there are numerous examples, in different industries, where the use of technological capabilities such as pattern recognition and data processing can generate considerable savings. Another important advantage of technologies is the speed with which they can perform an assigned task, with much more precision and consistency than a human being.
This skill has important repercussions in certain industries and activities, such as inventory control for large retailers, for example.
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