Understanding the Emergence of Cognitive Copilots in Business
When you hear the term “copilot,” what comes to mind? Traditionally associated with aviation, “copilot” has recently acquired a new meaning in the business realm. Most might recognize “Copilot” as a product name from Microsoft, but the concept of a Cognitive Copilot extends far beyond this.
Cognitive Copilots represent a new class of smart digital workers designed to enhance organizational capabilities. While much attention has been directed towards Generative AI (GenAI) and the capabilities of large language models (LLMs) to generate text, images, and videos, Cognitive Copilots leverage LLMs as part of a broader suite of functionalities. These copilots are not limited to content generation; they are integrated with enterprise data and trained on specific knowledge bases to become powerful tools that aid in accelerating decision-making processes. By providing data-driven and precise insights, they can reduce the number of decisions organizations need to make manually.
While some companies dream of the advent of general AI, strategic and transformation practitioners have begun implementing Cognitive Copilots in quick-win use cases.This approach helps build trust among business users and paves the way for more complex AI adoption initiatives. Today, businesses are increasingly adopting Cognitive Copilots to assist in decision-making processes, particularly in areas like Pricing and Revenue Management, where decisions are complex and critical.
Cognitive Copilot, explained
By definition, Cognitive Copilot is AI cognitive tool which assists your decision-making process and helps in productivity, creativity, and analytical tasks. It understands typed commands and queries, looking for insights from dashboards and replying with data-backed answers. Connected to your communication platforms, it’s capable of sending alerts and reminder notifications.
They connect different inputs and company sources into a single source of truth. Then, those copilots leverage advanced AI technologies, including Large Language Models (LLM), Machine Learning (ML) algorithms, metadata extraction, and advanced semantic search to perform data analysis, forecasting, and actionable insights generation and smart notifications.
With the ability to understand both typed and voiced commands, Cognitive Copilots are revolutionizing the way business users operate. Whether in the office, on a business trip, or in their cars on the go, these tools provide unparalleled support. They automatically search for insights from connected databases and return data-backed replies, taking data democratization to the next level. Cognitive Copilots integrate seamlessly with communication platforms like Teams or WhatsApp, making communication as simple as talking to a colleague.
What are the capabilities of Cognitive Copilot?
Different from Generative AI, which helps with generating images and content, Cognitive Copilot can be employed to perform analytics tasks. Some of the key capabilities of Cognitive Copilots include…
Intelligent Data Retrieval
Cognitive Copilots allow business users to ask questions, request data and get accurate, instant feedback. With Cognitive Copilots, businesses can speed up access to data and refine their decision-making. With actionable insights instantly and proactively coming to users, organizations can seize all opportunities of new products launch or setting new prices to maximize their profitability.
One of the most impressive things about Cognitive Copilots is that it gives business users the ability to talk to data and dashboards. Thanks to the ability to understand users intents and goals from natural language, these AI agents enable direct conversation in a human-like way, so that you can browse information, find documents and reports or any data user needs on the go.
Tailored insights and recommendations
Cognitive Copilots are capable of understanding users queries and context, thereby giving personalized recommendations for more refined decision-making.
Let’s take a look at this example. In this case, Cognitive Copilot from Revenue.AI sends an alert related to revenue loss and gives suggestions to mitigate the issue. From there, users can go to Revenue.AI platform or their existing business software to view dashboard, data, and take action. The Cognitive Copilot can natively integrate to any analytics applications from Power BI to Tableu and more.
Real-time smart notifications
As demonstrated above, different notifications can be set up so that users get updated on all changes they care about.
Let’s delve deeper by considering the Commodity Trading industry as an example. Dynamic price optimization is one of the most useful strategies for Commodity Traders to make effective pricing decisions. In fact, however, many Commodity Trading (CT) businesses still rely heavily on manual processes, which prevents them from keeping up with market volatility.
By switching to automating mundane tasks and getting alerts from Cognitive Copilot, CT companies can save time, reduce risk, and get real-time visibility into trade positions.
User management and data protection
In the enterprise world, AI adoption raises two major concerns: cybersecurity risks (data leaks) and the distribution of irrelevant or inaccurate data. This is where Cognitive Copilots from Revenue.AI excel. They incorporate access management as a fundamental aspect of any data distribution. Our Cognitive Copilots are part of the proprietary Precognis Architecture that guides users without utilizing corporate data itself to train the LLM model. This ensures that data from connected sources is never exposed to AI engines, effectively minimizing “hallucinations” and the distribution of outdated or inaccurate information.
Introduce: Revenue.AI Cognitive Copilot family
Revenue.AI has been developing a family of Cognitive Copilot specialized for different business needs and industries. Our Cognitive Copilots work efficiently to support decision-making processes, streamlined workflow, and next-level efficiency.
RAI Base
RAI Base is the Cognitive Copilot for multi-purpose data analysis. RAI Base acts as an Intelligent virtual Data Analyst. The tool works efficiently with other applications or workflows within the company, is useful to provide real-time insights discovery without disrupting user’s workflow.
With the ability to capture all data into a single data center and push notifications on latest updates of target data. RAI Base can help increase productivity by 90%.
Zeta
Zeta is the Cognitive Copilot specifically designed for Commodity Trading. Zeta helps with automating mundane tasks and streamlines processes for real-time visibility to trade position and risk exposure. The tool can support not only traders but also middle office analysts, and risk managers.
Zeta can ensure a reduction of 80% of data retrieval time, 50% lower operational costs, and accelerate data curation speed by 10 times.
RAI Charles
This Cognitive Copilot is designed as a promo expert. RAI Charles provides real-time alerts to help you realize all risks and opportunities. This Cognitive Copilot also drives promo calendar, ROI calculations and simulators, and ensures the effectiveness of all promotions. With RAI Charles, companies can speed up the access to information speed by 10 times, maximizing ROI and promo strategy.
RAI Price
To develop efficient pricing strategies amidst market volatility, RAI Price is your go-to Cognitive Copilot. The tool is highly expertise in pricing, able to help monitor all market activities, and run multiple pricing scenarios to determine the right pricing decisions. RAI Price is a useful tool to unlock SKUs potential within your business.
RAI Dex
Is data complexity a major challenge in your company? We’re happy to bring you RAI Dex, our virtual data steward. Having the capability to clean data, enrich data in real time, and convert data into analytic-friendly format RAI Dex, make sure your data is findable, accessible, interoperable, and reusable. Also, RAI Dex can be employed to merge different data for a deep, omnichannel view of the market.
Allie
Allie is an Agile Copilot, designed specifically for agile teams. Automating agile best practices within the company, Allie helps improve Agile transformation ROI and eliminate human bias in KPI reporting. Just like all of our Cognitive Copilot, Allie offers smart notifications and alert to accelerate the Agile team.
Cognitive Copilot is an efficient tool to collect accurate data, get tailored recommendations, and dynamic alerts, and improve your decision-making process. The potential and applications of this AI tool are vast. This makes them the suitable solution for all businesses wishing to apply AI for next-level efficiency. To know more about Cognitive Copilot, check out our Whitepaper, or book a meeting for further discussion.
