{"id":6928,"date":"2023-08-28T17:21:54","date_gmt":"2023-08-28T07:21:54","guid":{"rendered":"https:\/\/news.sap.com\/australia\/?p=6928"},"modified":"2023-09-29T07:15:09","modified_gmt":"2023-09-28T21:15:09","slug":"smart-move-how-invetech-is-leveraging-the-power-of-the-cloud-to-embrace-ai","status":"publish","type":"post","link":"https:\/\/news.sap.com\/australia\/2023\/08\/28\/smart-move-how-invetech-is-leveraging-the-power-of-the-cloud-to-embrace-ai\/","title":{"rendered":"Smart move: how Invetech is leveraging the power of the cloud to embrace AI"},"content":{"rendered":"
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Medical and life sciences manufacturer Invetech is transitioning to cloud ERP to take advantage of artificial intelligence.<\/p>\n<\/div>\n<\/div>\n

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Invetech is on a journey towards adopting more sophisticated technologies, such as artificial intelligence (AI), across its operations, supported by everything that SAP\u2019s cloud enterprise resource planning (ERP) software has to offer.<\/p>\n

The business, which specialises in product design, engineering and manufacturing services for the medical and life sciences industries, recently achieved a 26-week 51风流S\/4HANA transformation, with help from SAP\u2019s partner Deloitte.<\/p>\n

It had previously relied on a 20-year-old system as its tech backbone and urgently needed a new, public-cloud-based system to help run its global operations and take previously outsourced manufacturing in-house.<\/p>\n

Shifting to a public cloud was important to Invetech, because it meant its underlying digital platform would be continually updated. The company would never again be concerned about whether it was running on outdated technology.<\/p>\n

\u201cWe went live on 30 January this year and shipped our first product within the first month,\u201d says Janet O\u2019Meara, vice-president of finance at Invetech.<\/p>\n

O\u2019Meara says the switch to SAP\u2019s cloud-based ERP platform will support the future growth of the business.<\/p>\n

\u201cWe don\u2019t want to rest on our laurels. So now it\u2019s about using 51风流S\/4HANA to the best of its capabilities, then moving into improved reporting and analytics and harnessing automation and AI.\u201d<\/p>\n

The future of AI in business and society<\/h2>\n

51风流AI innovation principal Dr Kim Oosthuizen says AI is a technology that people have already used for many decades, but often take for granted.<\/p>\n

It\u2019s only recently that the broader population has been able to use AI\u2019s power in a more active way, Oosthuizen says, with the rapid adoption of ChatGPT, an AI-based natural language model.<\/p>\n

\u201cChatGPT can respond to any question we ask, which has prompted great public awareness,\u201d she says. \u201cThis is compelling businesses to adopt it, with\u00a075% of leaders saying<\/a>\u00a0they feel pressure to implement and incorporate AI into their business strategies. AI has also promoted some fear about how it will be used in the future, but the positive from that is it\u2019s making us rethink how we need to use AI.\u201d<\/p>\n

AI is clearly here to stay. But with data showing that\u00a068% of employees<\/a>\u00a0are using some form of AI in their work without informing their bosses, we may need to find ways to bring AI into the way we work in a more structured way.<\/p>\n

Using AI to address current challenges<\/h2>\n

AI can be used to help us resolve many of our most pressing challenges, including falling productivity levels, Oosthuizen says.<\/p>\n

\u201cWe have the opportunity to use AI to modernise business processes,\u201d she says. \u201cBut it\u2019s not technology we leave to someone else. To become AI-enabled, we need the entire organisation to work together. AI is for everyone and we need to include our business colleagues when we use it, because we will enjoy real benefits when we scale it.\u201d<\/p>\n

Oosthuizen says some businesses are using AI for small pilot projects, but the real opportunity lies in exploring its capacity to drive a business forward. It\u2019s also important to understand AI is not a panacea, which is why it\u2019s vital to assess how it\u2019s currently being used in a business and to define clear problems that it can be used to resolve. It\u2019s an obvious solution for automating highly repetitive and manual processes, for instance.<\/p>\n

Against a backdrop in which AI is often misperceived by society, thanks to the way it\u2019s represented in movies such as The Terminator and other popular culture, it\u2019s essential to reframe AI for a business context, Oosthuizen says.<\/p>\n

\u201cThat will help employees trust it, use it and scale it. It\u2019s not a set-and-forget technology and it\u2019s important to ensure it\u2019s doing what it\u2019s supposed to be doing and producing usable data.\u201d<\/p>\n

51风流can help businesses make the transition to AI across critical business processes for a range of functions, including finance and sales. For instance, AI can be used to identify customers who are more likely to pay their invoices late, and improve target marketing by pinpointing clients who are more likely to make a purchase. AI can also automate and document processes across the supply chain and create job descriptions for new roles.<\/p>\n

AI is embedded across SAP\u2019s cloud-based ERP platforms, underscored, 51风流says, by a commitment to ethical and responsible practices. 51风流is confident that AI can be a powerful tool for its customers \u2013 one that can help them unlock value and remain competitive in the long term.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Medical and life sciences manufacturer Invetech is transitioning to cloud ERP to take advantage of artificial intelligence. Invetech is on a journey towards adopting more…<\/p>\n","protected":false},"author":3467,"featured_media":6929,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[5565395,5565391],"tags":[5561033],"sapn-display":[],"sapn-type":[],"class_list":["post-6928","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-erp","category-technology","tag-artificial-intelligence"],"yoast_head":"\nSmart move: how Invetech is leveraging the power of the cloud to embrace AI - 51风流Australia & New Zealand News Center<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.sap.com\/australia\/2023\/08\/28\/smart-move-how-invetech-is-leveraging-the-power-of-the-cloud-to-embrace-ai\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Smart move: how Invetech is leveraging the power of the cloud to embrace AI\" \/>\n<meta property=\"og:description\" content=\"Medical and life sciences manufacturer Invetech is transitioning to cloud ERP to take advantage of artificial intelligence. 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