Contract management is a crucial aspect of state and local government operations for procurement, service delivery, and ongoing vendor performance oversight. Effective contract management is essential to ensure that taxpayer dollars are spent wisely and that goods and services are delivered efficiently and effectively.
Business process management (BPM) and workflow are both commonly used terms in discussions about business operations. While they’re related, they’re not the same. What’s the difference? Business process management (BPM) is a discipline designed to manage processes across an entire organization, from as small as tracking a team budget to as large as supply chain management for a company. Workflow is how a process is concretely represented in tasks, assignments, decision logic, etc.
Every organization, big and small, relies on processes to get work done. Processes are the backbone of your success. But if left unchecked, your processes can spin out of control. That’s why business process management (BPM) tools are so essential. They provide a wide range of coverage to help you develop, automate, optimize, and orchestrate efficient processes.
Generative artificial intelligence (AI) is a game-changer, bringing with it the promise of unparalleled efficiency and the potential for entrée into new markets. As generative AI continues to soar in popularity, organizations are eager to tap into its transformative power. However, this enthusiasm should come with a side of caution. It’s critical that organizations develop a strong generative AI policy so the allure of new technology doesn’t lead to devastating mishaps.
Artificial intelligence (AI) has taken the world by storm. ChatGPT was the ultimate proof of concept, demonstrating the power of large language models and AI in easy-to-understand terms. So naturally, business leaders are eager to unlock the productivity benefits that come from integrating AI into business operations. But despite their eagerness, organizations still need to do some work to prepare for AI integration.
Business process management (BPM) can help organizations in any industry streamline processes in any department. Even though the discipline has been around for years, the benefits of BPM are as real as ever. In the short term, organizations can use BPM to decrease costs and improve efficiency, which can lead to more revenue and faster growth. In the long run, a strong BPM practice helps organizations create and maintain competitive advantage by improving their agility.
Generative AI seems like it's shaking things up for process automation, like other industries. But in reality, artificial intelligence is less of a shake-up and more of a natural complement to the capabilities that support a process automation initiative. Imagine a world where AI can turn a PDF into a digital interface, or sort all the emails in an inbox and generate responses for an employee to review.
Artificial intelligence (AI) has led to a seismic shift in the business landscape, largely due to the surge in popularity of large language models like ChatGPT. From predictive models that foster better decision-making to generative AI code tools that enable teams to build applications faster, AI offers incredible benefits to organizations. Businesses need to embrace this technology or risk falling behind their competitors.
Artificial intelligence has the potential to make work incredibly efficient—which means it’s the perfect complement to process automation technology. Process automation, and related approaches like business process management, already aim to improve productivity by automating what can and should be automated.
What are the differences between generative AI vs. large language models? How are these two buzzworthy technologies related? In this article, we’ll explore their connection. To help explain the concept, I asked ChatGPT to give me some analogies comparing generative AI to large language models (LLMs), and as the stand-in for generative AI, ChatGPT tried to take all the personality for itself.
