For some time now, artificial intelligence (AI) has been a hot topic in the world of technology. Depending on who you ask, it can do everything from achieving omnipotence to predicting the future with laser-like accuracy. So how much is reality and how much is hype? As you’ve probably surmised, the truth lies somewhere in the middle.
While many companies have invested in AI, to-date most have not yet put it to work. This means there’s an enormous advantage for those who do so sooner rather than later, particularly when it comes to business continuity. Why? It delivers actionable intelligence based on analytical and predictive capabilities that significantly outpace human-only intelligence gathering.
Almost half of businesses report requiring hours or even days to analyze, understand and act on critical event data. Sixty-one percent of large enterprises have experienced an incident where they didn’t receive critical information until it was too late to respond. And 24 percent of businesses report feeling challenged by a limited ability to respond quickly.
AI can change all of this, and it’s got people talking. When it comes to critical event management (CEM), rapid access to actionable risk intelligence is a crucial differentiating factor. AI gathers data from thousands of sources in seconds, filters out extraneous information and provides a 360-degree view of the risk landscape. This means you can minimize the impact of a critical event and quickly return to a fully operational status. From severe weather to threats of violence to pandemic complications, AI helps organizations put everything in perspective, take a step back and make well-informed decisions.
This makes AI a real game changer when it comes to business continuity. For instance, if your business is located in the West, you’re used to dealing with wildfires. But with so many of them, how do you determine which ones could affect you?
AI breaks this down and specifies the risks that are relevant to your business. This gives you the early warning you need to take action to protect supply chains (stop incoming shipments), avoid production disruptions (add capacity at another facility) and evacuate employees.
Now you can focus on specific categories and types of critical events pertinent to your business and those most likely to impact your people, places and property. AI can even go so far as detecting the distance between your people or assets and a critical event, giving you precise control over when an alert should be triggered.
Bottom line? AI enhances your command and control of critical events by creating actionable intelligence so you can respond swiftly and appropriately when an incident occurs – and that’s worth the hype.