five ways ai can help in crisis diagram

(1) Situation Dashboard 

What is it? NLP enhanced content filtering of key sources as well as customised data aggregation enables  distilled valuable insights about multiple facets of a topic. This data can then be visualised in an interactive dashboard to provide data-driven decision making for leaders. 

Crisis use? To navigate the Covid-19 pandemic effectively, leaders need quick access to the latest information across public (e.g. latest government policies) as well as company internal indicators (e.g. cases among workforce, supplier defaults). With an AI enhanced information tracker, customised information can be gathered, aggregate and visualised effectively to provide decision support. (Could also be augmented with modelling)

(2) Enhanced Forecasting (Financial, Sales, Delays, Workforce)

What is it? Time Series modelling takes into account historical data and exploits mathematical models to predict trends and fluctuations in sales and financials, supply chain delays as well as workforce needs. At Visium, we have enhanced forecasting with risk management frameworks and the possibility to analyse multiple scenarios generated with probabilistic programming. This approach enables the identification of insights and accurate forecasts in times of uncertainty and rare events.

Crisis use? While the effects of COVID-19 are playing out, predictive tools can help navigate the new normal and guide a timely response by giving you information on what to expect in your supply chain, sales and workforce. With our approach, we can model of possible alternative scenarios and empower business decision making in response to new, unprecedented black swan events.

(3) Automated customer care 

What is it? This chatbot-like solution can match customers questions with a set of continuously updated answers. Our solution differentiates itself from normal chatbots through its ability to intelligently query a large number of documents and extract answers, even for novel questions. This solution allows for customers to more easily find the answers they are looking for which in turn increases customer satisfaction. 

Crisis use? During this time of increased uncertainty, customers reach out to you more frequently, which can overextend your employees capacity. Visium’s automated customer care can help customers find a satisfactory answer online rather than calling or e-mailing. 

(4) AI enhanced contract management 

What is it? This NLP tool extracts and classifies information within contracts, including both digitally produced as well as scanned documents. This allows you to then filter out the information you need, or classify the documents based on the relevant information. 

Crisis use? In the current situation, AI enhanced contract management can automatically investigate thousands of contracts for the implications of the COVID-19 outbreak on contract clauses of any kind (e.g. compensations in favour of any party or clauses affected by pandemics).

(5) Supply Chain fortification 

What is it? Using state of the art Graph Machine Learning and Monte Carlo modelling techniques, supply chain bottlenecks and vulnerabilities can be identified.

Crisis use? As companies navigate the Covid-19 crisis, the importance of a reliable supply chain becomes ever more apparent. Visium’s unique capabilities can help guide the fortification of supply chains and identify opportunities to increase efficiency.

Interested?

    Timon Zimmermann

    Author Timon Zimmermann

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