Webinar Recording:Demystifying AI

Thank you to everyone who could attend our live webinar.

If you missed it, or would like to see it again, below is the a link to the recording along with the Q&A .

Question:

I'm new to AI. What's a simple way to start using AI in my small business without spending a lot of money?

Answer:

That's a great question! Starting with AI doesn't have to be expensive or complicated. You can begin by identifying a simple task that takes up a lot of your time, like scheduling appointments or managing emails.

There are affordable AI tools and apps designed for small businesses that can automate these tasks.

For example, you could try using ChatGPT, which can help you draft emails or brainstorm ideas. Many of these tools offer free versions or trials, so you can test them out and see how they work for you. 

Question:

Can AI really help improve customer service in a small business?

Answer:

Absolutely! AI can enhance customer service by handling routine inquiries quickly. For instance, an AI-powered chatbot on your website can answer common questions 24/7, providing instant support to your customers even when you're not available. This not only improves customer satisfaction but also frees up your time to focus on more complex tasks that require a personal touch.

Question:

What if the AI makes a mistake? How can I prevent that from affecting my business?

Answer:

 That's a very valid concern. AI tools are helpful, but they're not perfect. To minimize mistakes, it's important to start small and monitor the AI's performance closely. For example, if you're using AI to draft emails, you can review and edit them before sending. Setting up checks and balances ensures that you maintain control over the final output. Over time, as you get more comfortable, you can trust the AI with more tasks.

 Question:

Are there any free AI tools that I can try before committing to a paid service?

Answer:

Yes! Many AI tools offer free versions or trials. For example, ChatGPT by OpenAI and Claude by Anthropic both have free versions you can use to get a feel for how it works. Canva offers free access to basic features, including some AI design tools. These free options are a great way to experiment with AI and see how it can benefit your business without any financial commitment.

Question:

Can AI assist with Calc Scripts?

Answer:

To use ChatGPT to create an Essbase calc script, provide a detailed description of your calculation requirements, including the specific dimensions, members, formulas, and desired logic, allowing ChatGPT to generate a basic script structure with relevant Essbase functions; however, always carefully review and verify the generated script for accuracy and correctness before implementing it in your Essbase environment as ChatGPT may not fully understand the nuances of complex Essbase calculations or specific application needs. 

Key steps:

• Describe your calculation clearly:

• Context: Explain the purpose of the calculation and what data you are trying to manipulate (e.g., calculating year-to-date sales, calculating profit margin).

• Dimensions and members: Specify the relevant dimensions and members involved in the calculation (e.g., "Time" dimension with "Year" and "Period" members, "Product" dimension with "Category" and "Item" members).

• Formulas: Describe the exact mathematical calculations you want to perform (e.g., "calculate sales for each period by multiplying quantity sold by price per unit").

• Special conditions: If there are any specific conditions or edge cases to consider, clearly outline them (e.g., "if sales are less than a certain threshold, set the value to zero").

• Prompt ChatGPT:

• Start with a clear instruction: "Generate an Essbase calc script to..." followed by your detailed description of the calculation requirements.

• Include relevant Essbase functions: If you know specific Essbase functions that should be used (like "FIX", "AGG", "@SUM", "@IF"), mention them in your prompt to guide the generation process. 

Example prompt:

"Create an Essbase calc script to calculate the 'Gross Profit' member in the 'Profit and Loss' cube for each 'Product' and 'Time' period. Gross Profit should be calculated by subtracting 'Cost of Goods Sold' from 'Sales' for each product in each period. Ensure the script handles missing values appropriately."

Important considerations:

• Validation is crucial:

While ChatGPT can generate a basic script, always review the generated code carefully to ensure it accurately reflects your business logic and follows Essbase syntax. 

• Complex scenarios:

For intricate calculations or custom logic, you might need to provide more detailed instructions and potentially adjust the generated script manually. 

• Testing and refinement:

After generating the script, thoroughly test it in a development environment to identify any issues before deploying it to your production Essbase application.

Question:

Are you using AI for customer problem analysis & resolution?

Answer:

Yes, we use AI to enhance our customer problem analysis and resolution processes, with a focus on providing accurate, efficient responses. Our approach integrates tools like ChatGPT, which assists our team in generating and validating code snippets as well as reviewing non-proprietary code. This allows us to deliver faster, more consistent solutions, especially for common technical inquiries.

Additionally, we leverage Freshdesk’s AI-powered knowledge base to facilitate initial response steps for client questions. By using AI to quickly search and recommend relevant articles or solutions, we ensure that customers receive timely, high-quality support tailored to their needs. This AI integration helps us streamline problem-solving and maintain accuracy across our support interactions.

If you’d like to know more about specific applications, we’re happy to share further insights!

Question:

Is it possible to reconcile data from ERP and EPM ? What is your take …. What tool to use and would you need to leverage something like python?

Answer: 

Yes, AI can indeed facilitate data reconciliation between Oracle ERP and Oracle EPM, enhancing accuracy and efficiency in the process. Oracle’s native tools, such as **Data Management** in EPM, offer structured data integration, but integrating AI can improve data mapping, anomaly detection, and automated error resolution.

AI can assist by identifying discrepancies faster and providing insights on data inconsistencies that might otherwise go unnoticed. For example, we can use AI-powered algorithms to spot patterns in the data, flagging unusual variations and ensuring that reconciliations align with expected financial standards. Additionally, when specific transformations or custom logic are needed, AI-driven scripts (potentially using Python with machine learning libraries) can be tailored to automate and streamline complex reconciliations.

Using AI for this purpose might allow your team to handle larger datasets more efficiently and ensures that our reconciliations are as accurate as possible. If you’d like to brain storm some more on about specific AI tools or techniques you might be able to leverage in this process, we’d be happy to discuss further!