The future of ERP is AI

2020/02/04 10:25

From the result of the 22nd global CEO survey conducted by PwC, up to 85% people agree with this statement. However, only 33% said they have implemented AI in business and still at a limited scale. The amount of CEOs applying AI on a large scale is less than 10%. However, these figures will soon change.

In fact, the application of AI in ERP software has been strong in recent years due to the market demand for a smarter ERP system. The 4.0 revolution makes it hard for business to stay out of the trend.

Traditional ERP software has the role of organizing information, reporting and visualizing real-time data importantly through dashboards. However, nowadays businesses require smarter technologies, such as recognizing trends and patterns, making recommendations for the board of directors, calculating based on different relationships, and automating complex processes.

A smart ERP software must be flexible in compatibility with new technologies. For example, applying machine learning and deep learning to detect errors in the production process, market analysis and forecasting, or teaching algorithms for the automatic system.

Speaking of smart ERP software, IDC research manager - Alexandros Stratis - said: "A user-friendly interface is a key factor in turning today's workers with basic knowledge into digital-savvy workers of the future."

Although a supportive and interactive interface with ERP software is still a future goal, the quality of such interactions will be improved over time, and create more flexible companies, with a more comfortable work environment, with oriented goals, and reduced back-office processes.

To satisfy these requirements, the ERP system needs to be compatible with advanced applications, and developed based on the tailored requirements of the company. In fact, modern ERP platforms, which are available on cloud-based platforms, can already meet these needs.

ERP software will have to upgrade the current system to ultilize the smart technologies. Or we can say that the future of an ERP software lies in its compatibility, and that is the responsibility of suppliers if they do not want to be phased out.