How Government Contractors Can Leverage Artificial Intelligence

In the world of government contracting and across the business landscape, AI is proving that it can have an immediate and significant impact on a company when it is adapted, trained and deployed in industry-specific use cases. When a company has access to new, relevant and reliable data, AI can enable government contractors to capture new efficiencies in key parts of their business.

This is especially important for small and medium-sized companies, helping them to level the playing field with larger competitors who have bigger pockets.

In a business known for its complexity, AI can streamline contracting processes, validate compliance with ever-changing regulations, automate time-consuming manual tasks, and provide valuable insights to human decision makers.

So where will AI move the needle for government contractors?

Winning the business

AI-powered analytics can be a valuable tool for evaluating and prioritizing pursuits.

Artificial intelligence can help companies deal with large data sets from different sources. It can reveal new lucrative business opportunities. It can even spot trends and patterns that allow company decision makers to zero in on the projects and clients that best fit the company’s strategic growth priorities – while also helping them avoid projects that are in better shape not pursuing.

Machine learning algorithms can even predict the probability of success for different projects. This allows company leadership to base pursuit decisions on a combination of data-driven insights and their own business acumen.

Simplifying the sentence

Sharpening and streamlining the processes behind sentence generation is another of AI’s strengths. Intelligent, automated data analytics tools can enable company decision makers to visualize complex scenarios, spot patterns, and use data-driven insights to create offerings that meet customer specifications and expectations.

During the bid preparation process, AI can help GovCons interpret complex contracts, streamline operations, analyze large data sets, and predict optimal pricing strategies. Artificial intelligence tools built into a company’s customer relationship management (CRM) and enterprise resource planning (ERP) systems can speed and simplify RFP generation, using intelligent templates to minimize manual effort and ensure consistency and accuracy.

These features make it so that your business development, sales and marketing teams don’t have to reinvent the wheel with every proposal. Your company can increase its proposal generation capacity along with the quality of its proposals without increasing the number of employees.

Strengthening customer relationships

AI can help marketing, business development and customer support teams do their jobs better. It can equip them with a deeper understanding of the customers, prospects and markets with which to build and nurture lasting relationships.

For example, companies that follow a Jobs to Be Done (JTBD) framework in customer engagement can leverage artificial intelligence to better understand their customers’ preferences, identify pain points, and analyze their feedback so that recommendations and their services to be more aligned with customer priorities.

AI tools can instantly generate reliable insights into customer behavior and preferences, allowing your teams to analyze customer interaction data, engagement metrics and market trends. This then informs business development and marketing strategies that target specific market segments and prospects.

The insight provided by artificial intelligence can help a company deliver timely, hyper-personalized content to enhance the overall customer experience. In a relationship-based business, personalization can be a real differentiator.

Delivering excellent results

In a project-intensive business, smart tools can really increase project results in terms of both customer satisfaction and profitability. From an execution perspective, AI’s ability to automate clauses, project codes, job creation and payment processing can lead to timely decision making and substantial improvements in overall performance.

Meanwhile, repetitive tasks like creating alerts for milestones or missing data can be automated through robotic process automation. RPA can also increase supply chain and resource visibility, helping to predict material and labor shortages and automatically notifying stakeholders of delays and potential bottlenecks.

On the resource management side, AI-powered predictive analytics allow companies to predict labor shortages. It can also help optimize the composition of a company’s project teams based on the analysis of people’s skills, certifications and performance.

Keeping pace with compliance

Navigating the regulatory landscape becomes a simpler proposition when you can use artificial intelligence to automate regulatory controls and ensure compliance with processes and requirements across multiple organizations. AI can continuously monitor the regulatory landscape to keep companies abreast of the latest developments, including changes to the Federal Acquisition Regulation (FAR), Cybersecurity Maturity Model Certification (CMMC), and audit requirements.

Continuous AI monitoring can detect deviations from established processes, while automated alerts can alert teams to potential issues like data mismatches or disallowed costs before they become problematic.

Protection of your data

With intelligent threat identification and other tools, AI can enhance the security of a company’s IT infrastructure by identifying vulnerabilities that need remediation and flagging potential attacks before they happen.

The AI ​​use cases don’t stop there. AI-powered analytics can, for example, help government contractors improve the quality of their forecasts by providing clearer predictive insight into costs, resource needs, expected profitability and other key performance indicators. And as fast as AI models learn, the number of applications is expected to increase in the coming years.

You can’t leverage AI without a solid grasp of these fundamentals

In order for companies to take advantage of these use cases, they should first prioritize some key elements. It is essential to ensure that your company’s AI practices and systems comply with the CMMC program. There is no compromise when it comes to privacy and data security.

Additionally, having reliable, quality data is another imperative – the picture an AI model produces is only as good as the data that feeds that model.

An integrated digital environment is another key element. Your data needs to be able to flow unhindered and securely.

And you want to be sure you have the knowledge and training on staff to validate, test, implement and manage your AI systems in a compliant manner.

With these figures, the potential for AI to elevate your company is as limitless as the technology itself. You will be perfectly positioned to harness the power of artificial intelligence, enabling your people to be more effective and efficient.

Kim Koster is vice president of marketing at Unaneta software company that provides enterprise resource planning and customer relationship management programs for organizations in the government contracting, architecture, engineering, construction and professional services markets.

Read the original at Defence247.gr

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