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    How has Celonis affected the AI industry?

    A fascinating software company known as Celonis has been making headway recently in AI, so we thought we’d take a closer look into who they are. Celonis are leaders in providing process mining operations ready for enterprise, as well as solutions for automating business process discovery. This in turn would be used for the analysis and hence visualisation of business processes on an international scale.

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    Celonis had originally begun as a service to assist customers in understanding exactly how work, information and procedure flowed through their organisation by constructing a “process map”. Whilst already being valuable, naturally the next logical milestone was to be able to use the examination the process discern ways to increase efficiency.

    These insights could then be utilised by either Celonis, their clients or the collaborating consultants to formulate or implement new ideas. This could be along the lines of incorporating solutions such as robotic process automation (RPA) in certain areas to speed things up, or trying alternate forms of software to manipulate and handle data better or more user friendly way, or perhaps by restructuring the arrangement and deployment of staff to streamline the work handling process. However, this is by no means a single use application or service. The premise for this to work is continuous observation to detect new patterns or problems.

    Some of the possible areas in which this technology and business model could be applied include:

    • Information technology service management
    • SaaS implementation aspects
    • Sales and audit
    • Procurement
    • Accounting
    • Logistics
    • Production
    • Human resource
    • On-premises installation
    • Various other branch specific situations and procedures

    Furthermore, Celonis seems to have no plans on slowing down any time soon. The CEO and Founder of Celonis, Alexander Rinke, has stated that their customers have been requesting the company to go above and beyond just process discovery, in search of more elaborate ideas and methods of problem solving. As well as putting into practice more tailored and refined approaches to dealing with industry bottlenecks and roadblocks.

    Pipeline and Unicorn status; who are the next ones to watch?