Phynd Technologies introduces new capabilities in the latest update for their information management platform.
Adding AI to knowledge management is a $4.5M game-changer (VB On-Demand)
Presented by Pryon
Learn how Fortune 500 companies are applying AI-powered knowledge management and realizing a 60% reduction in overall IT ticket volume, thousands of hours of time-saving, $4.5 million annual savings in IT support costs and more, in this VB On-Demand event!
Enterprise knowledge management is critical: everything that can move your business forward already exists in many forms in your organization, says Igor Jablokov, CEO & founder, Pryon.
“If you look at the enterprises that have been able to rise in value, like Amazon and Netflix, they’re the ones that can most effectively deal with the signals coming from customers, partners, employees and investors,” Jablokov says. “Getting everyone the information they need to be successful at their tasks usually turns into economic outcomes that they can measure.”
There’s also an increasing number of concrete reasons that enterprise knowledge management has become a top CEO priority — and the competition for talent is number one on the list, says Chris Mahl, president & CRO, at Pryon.
“People that are the best of the best want to be places where at their fingertips is the wisdom of the company, the leverage of the company,” he explains. “A big part of what attracts talent is not just the DNA and the brand and the aperture of the company, but the experience of being enriched. That’s all about the effective distribution of knowledge.”
But right now, knowledge silos are common, creating inefficiencies and hamstringing decision-making, customer service and employee satisfaction. Workers waste 1.8 hours every day, or 9.3 hours per week, on average, in the search for information they need to do their jobs — instead of being able to actually do their jobs. The frustration curve for employees then becomes incredibly high. They’re quitting in favor of the employer that provides a better professional experience, serving up the information and intelligence they need to prosper in their job.
From the talent crisis to the global recession, it’s especially urgent now to do more with less, be more intelligent, and be more digitally fluid. So why are so many enterprises finding it difficult to deliver on this need for information, and get content from across the enterprise into the hands and systems where it’s needed most?
The challenges of enterprise knowledge management
There is so much information scattered across every enterprise, stored in as many different repositories as there are types of information, to support every internal and customer need, and so much of it is buried deep.
“The information users need can be incredibly arcane, and the question is, how do you get the right pieces of information together?” Mahl says. “In some cases, the questions we see are so bizarrely unique, but it turns out that with a knowledge system, you can get right to the original answer, even if it’s living in a nine-year-old visit dossier with some photographs and some notes. Can you imagine that gold?”
Enterprise knowledge management isn’t a new concept, and smart companies have been turning to tools like chatbots and intelligent virtual assistants to manage some of the load of scaling and automating knowledge delivery. But implementing these technologies requires a lot of heavy lifting. About 90% of the data being generated today is unstructured, and has to be recreated or refactored for these tools to actual leverage the data. It’s a great deal of manual effort, unsurprisingly error-prone, and regularly falling out of date, leaving stakeholders without the information they need.
“Executives are making attempts at knowledge management but not getting the return they expect, or that they need,” Mahl explains. “They feel like they’re pushing piles of information to try to get breakthrough, but can’t get at the access and immediacy of correct response that’s required for ROI.”
So, how do you get content from those repositories into the hands (or the systems) where the information is needed most? It takes the unification, automation and digitization of enterprise knowledge in a knowledge operating system.
Leveling up enterprise knowledge management
A leap beyond traditional enterprise knowledge tools, a knowledge operating system can bring information from around the enterprise into a single, fully accessible AI-enabled environment for easy consumption across the whole organization.
Most companies have an array of content and knowledge platforms, different for each line of business. For example, an HR policy and benefit intranet, product knowledge bases, cybersecurity policy databases, regulatory information — and all of them living in separate environments.
“A knowledge platform can ingest the content, create the model, and then organize the information as an asset that everyone, from the newest employee down to the deepest research scientists and innovators, can access in the way that makes the most sense for their department,” Mahl says. “And does that securely and safely, only to the people who should see it.”
Once one group implements a knowledge platform, and starts sharing their department-specific knowledge and insight, other groups want to get in on it, sharing all their own information and insight, from policies, procedures, field service notes, to RMAs, legal information, HR information, cybersecurity knowledge and so on, enriching the whole enterprise.
“I think the most exciting thing is the fact that many sources can be combined into this one representation of knowledge,” Jablokov says. “And the fact that they can actually start sharing that interactive knowledge with other business units as well. Once people start seeing it, it becomes something that they all want in order to show their gifts to their peer divisions.”
How Pryon is changing the game
Pryon is the first full-stack AI platform, offering point-and-click creation when collecting enterprise content, which is then processed with AI techniques and optimized for question and answering. Technologies like AI, NLU and Pryon’s vector database model eliminate silos and static buckets of data. Instead, the enterprise’s full store of information can be integrated into the platform, and transformed into digitally fluid neural networks organized around users, easily surfaced by fully formed semantic queries.
These are living, breathing collections of knowledge, where knowledge is constantly refined and updated as users interact with the system, and the effectiveness of the content keeps growing.
“We get such aha moments, because these executives say, I have 5,000 articles and I’ve been publishing for years, but this is the first time I’ve ever seen them as a whole,” Mahl says. “And I can actually see the value where they work, where they conflict, where they debate, and where there are holes. Your knowledge mass all of a sudden is the best it can be, which means when new people come, they get that step ahead.”
To learn more about how knowledge management systems are transforming the way enterprises access and leverage information, the ROI they’re achieving, don’t miss this VB Live event.
- Increase productivity 2x by leveraging your existing investments in content assets, knowledge bases and human capital – without doubling budgets
- Exceed the performance of your current customer support chatbots with a next-gen strategy
- Drive repeatable, simultaneous digital transformation across multiple business units
- Invest in an AI platform that pays for itself in weeks, not years
- Igor Jablokov, CEO & Founder, Pryon
- Chris Mahl, President & CRO, Pryon
- Art Cole, Moderator, VentureBeat