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Transforming Business Process Management Through Artificial Intelligence and Predictive Analytics
Abstract
Big Data and Artificial Intelligence (AI) technologies are revolutionizing Business Process Management (BPM). This chapter focuses on how AI and predictive analytics are transforming traditional forms of BPM. The combination of these technologies presents major opportunities utilizing insights from data to optimize decision making, advancing process enhancement beyond mere automation, increasing responsiveness and flexibility of operations, as well as innovativeness. AI enhances BPM with the capacity to respond to market changes and deliver services more rapidly and tailor them to individuals. Nevertheless, these advantages depend critically on data issue resolution. Unresolved challenges such as the 'data paradox', quality concerns such as bias and inconsistency, and complicated data processing including cleansing, standardization, privacy, and security present obstacles. Emerging trends suggest more advanced automation and predictive modeling, collaboration with ethicists, and pivoting BPM toward self-governing, self-evolving systems that provide users substantial competitive leverage.
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