Is AI A Threat To Business Analysts’ Role In 2022?

Artificial Intelligence or AI is no longer the advanced technology that small businesses consider out of reach. It is being increasingly used by businesses to improve productivity, enhance customer experience, and boost profits. The pandemic has made entrepreneurs realise the importance of technology, making machines imitate human intelligence.

It is being hailed as the next big thing in the commercial sector because it reduces dependency on manual work and eliminates the risk of human errors. Thus, budding entrepreneurs who wish to purchase a business for sale Brisbane are trying to make sense of the role of a business analyst in organisations using AI and machine learning.

The popularity of the technology has made many professionals worried about AI taking over the role of business analysts in organisations. With its high demand across industries and exceptional output, the concern may appear significant at present, but it may not be a problem. Most industry veterans think business analysts will continue to make their presence felt while using AI to overcome challenges.

How is AI Changing the Role of Business Analysts?

There are a variety of reasons that make business analysts an essential part of an organisation. They are needed to identify the urgent and high-priority business needs and opportunities that the business can leverage. AI can help automate the time-consuming tasks related to analysis and speed up the execution of various policies. However, it cannot replace the human touch that digital capabilities cannot offer.

Although AI can get rid of redundant activities, it is not yet advanced enough to replace human intelligence. However, its exceptional simulation of human thinking has made analysts adopt new skills and adapt to the changing times to avoid becoming insignificant in the long run. The key here is to view AI as a support system for workers rather than an all-inclusive technology that will make human intervention unnecessary. AI has already proven advantageous in analysing humungous amounts of data, and its need will only rise in the future as businesses become data driven.

In addition, the contribution of AI in improving customer relationship management and cybersecurity cannot be undermined. It is evident that the presence of both the technology and business analysts is imperative for a business. Let us understand how professionals can safeguard their positions in an AI driven world in 2022.

How Can Business Analysts Take Charge?

There is no denying the fact that AI and machine learning are fast becoming mainstream. They have already become a part of our daily lives through the smart devices we use in our homes, such as Amazon Echo, which uses conversational AI. Thus, business analysts have to keep improving to maintain their presence in the office. Here is how they can do it.

1. Reasoning Ability

When assigned a task, the business analyst will have the understanding to look at the bigger picture and ask relevant questions to make things more transparent.

On the other hand, AI may not bother to look beyond the task on hand unless they are asked to do so. The ability of the human mind to question and reason helps business analysts to score over machines.

2. Efficient Communication

AI may have been evolving, but it has not been able to reach the point where entrepreneurs can ask for specific information and retrieve it without the need for analysts. For example, understanding customer data to offer insightful advice in a meaningful manner is only possible with the help of an analyst.

Also, getting the right data sets by using the desired algorithms to assess streams of customer information can be done only by the machines. Thus, they must remain in a symbiotic relationship in the organisation.

3. Understanding Requirements

A business analyst has been working with the company and its people and knows everything about it. They can read between the lines and know the needs and desires of the entrepreneur that are aligned with the business goals.

Thus, they are better equipped to identify the most pressing needs of the organisation by analysing the economy, competition, customer satisfaction level, supplier demands, etc. On the other hand, AI cannot understand the external and internal forces at work and may not understand the exact requirements.

4. Presenting Data

AI will provide the business with all the graphs, charts, analytical reports, etc. However, these cannot be understood by everyone in the organisation as they are not well-versed with statistical information.

This is where the business analyst comes into the picture and helps everyone to understand the inferences derived from the analysis. Most data analysts have turned into data scientists to interpret data. They prepare easy-to-understand presentations that help investors, stakeholders, suppliers, and employees make sense of the figures and illustrations.

5. Implementing Automation

AI enables automation. However, it is the business analyst who decides the use of automation in the processes to make sure that the repetitive tasks get automated. It helps save time and effort of the teams and makes the organisation more productive and efficient.

Thus, the analysts help in implementing automation in suitable processes to streamline and synchronise data usage in the company. If you are looking for a business for sale in Brisbane, you must identify opportunities that have automated their tedious processes.

6. Improvement in Processes

The use of AI makes the business analyst provide the results of any research faster and without any errors. The inferences drawn from the data are used to make improvements in the products and services, which in turn help make customers happy.

Thus, the whole cycle of operations, marketing, distribution and sale is enhanced and renewed with the help of the insightful information provided by AI. However, its correct use and execution are in the hands of the analyst. Thus, they maintain a strong position in the company because of their ability to enhance quality.

7. Enhance Marketing

Digital marketing has become a staple for businesses because it can be easily measured through the data provided by a variety of tools. However, when you are marketing through myriad digital channels, it can be challenging to analyse the feedback received by your brand and the level of engagement with the buyers.

AI comes to the rescue of analysts in this space and helps them identify the trends and offers analytical reports with key findings. Thus, analysts can use them to make the campaigns more interesting and highly targeted to get the maximum return on investment.

Endnote

It goes without saying that AI and business analysts need to work hand in hand to continue with the progress of the entity. They need each other to utilise the data for higher efficiency and bigger turnover.