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For example, artificial intelligence (AI) has become the latest buzzword in the business. Organizations of all sizes and industries are adding AI to their technology portfolio in search of immediate results. Unfortunately, not all AI solutions are created equal and many companies struggle to ensure their investments deliver the promised results.

While there’s no doubt that delaying AI adoption can put a company at a competitive disadvantage, achieving success requires more than just investing in an AI solution. Success also depends on the integration of old and modern technologies, risk management and access to the right skills.

Another crucial factor to consider when it comes to AI implementations is addressing ethics that fit the industry or ecosystem.

In other words, companies need tailor-made, suitable AI solutions to achieve results.

The right tool for the job

Genative AI (GenAI) like ChatGPT has made AI a mainstream technology, but companies are starting to discover that GenAI solutions themselves are limited.

GenAI in action would be a human resources (HR) chatbot that can answer frequently asked questions and provide information to employees/users based on their input.

A composite agent goes one step further; it combines the capabilities of multiple agents to provide the user with more comprehensive assistance.

As an example, let’s take an employee named Nicole Smith who wants to take a leave of absence and needs to know the weather patterns for her planned travel, as well as how much leave she has available.

In this scenario, the composite agent seamlessly integrates two separate agents – a weather intelligence agent and an HR management agent – ​​to provide Smith with the information she needs.

First, Smith contacts the compound agent and informs him of her intention to go on vacation. The composite agent then uses the weather information agent to retrieve the forecast for the location of her vacation, giving Smith the necessary information to plan her trip accordingly.

The composite agent then accesses the HR management agent to retrieve information about Smith’s current leave balance. It informs her how much leave she has available and helps her plan the vacation accordingly.

By combining the capabilities of the weather information agent and the HR management agent, the composite agent provides Smith with more comprehensive assistance, helping her plan her free time more efficiently and effectively.

Agentic AI is a composite agent that essentially integrates with databases and external tools to enhance the problem-solving capabilities and scenario adaptability typically found in such use cases.

Designed to perform incredibly complex and repetitive tasks across various business functions, agentic AI solutions such as iOCO’s AI agentscan analyze massive amounts of data, understand relationships, provide insight into operations and support better decision making. Use cases include fraud detection, customer service, supply chain management, compliance and risk management, and logistics optimization, to name a few.

It‘It’s all about the data

Data is the core of a successful AI solution. Data improves decision-making, can be used to automate tasks, and can deliver hyper-personalized customer experiences.

However, many companies continue to struggle with the weight of traditional business models and analog business processes, hindering the potential of data analytics and AI. Some have started to modernize, but can’t make the cultural shift needed – or commit to the information management, advanced skills, and technology investments needed.

Since each AI use case has its own data requirements, companies must invest in their data practices to reap the benefits of any AI investments.