Artificial Intelligence
Artificial Intelligence is rapidly emerging technology that is set to change the landscape of all kinds of industries. But with so much news surrounding new developments, you may be wondering if AI is right for small and mid-sized organizations today.
First let’s dispel some myths. The first thing to know is that AI will not instantly solve all your business needs. And despite its growth, implementing AI will require both massive commitment, resources and the right set of skills to integrate it into your systems. Also, you’ll want to avoid adopting AI for AI’s sake alone; 99% of businesses don’t actually need AI to be profitable right now. Instead, ensure new technology aligns with your business needs.
Tools You Can Use Right Now
Now with that said, there are some current AI applications that you can leverage today, ranging from marketing, logistics and operations to fraud detection and more. For example, Fin is an app that utilizes machine learning in tandem with skilled remote staff to act as your personal virtual assistant. Using speech-to-text technology, you can have a variety of tasks performed on your behalf.
Salesforce’s Einstein is another example that uses artificial intelligence to gather predictions and recommendations based on customer data and business processes. You can then use that data to automate responses and actions to improve sales, and in so doing, happier customers. Also, if you feel that your business objectives are in line with the capabilities of AI and machine learning, be sure to check out the solutions provided by Microsoft Azure, AWS or Google’s Cloud AI.
Steps To Take
Understand that the key to AI is good data, so make sure you are implementing effective solutions to collect and store data so it can be leveraged in the future. Lastly, follow these steps to keep up with AI trends:
- Capture your most important data digitally so it can be leveraged in the future.
- Stay on top of AI advancements in your industry.
- Don’t hesitate to leverage AI and machine learning today if you have clear business needs that might be accomplished with today’s AI technology.
Thanks for watching this Tech Talk and come back next time to learn more!
Further Reading
- Is Artificial Intelligence for Small Business? Factors to Consider for Technology Adoption
- The Key Differences Between Machine Learning and AI
- McKinsey & Company on Artificial Intelligence and Machine Learning – Video
- McKinsey & Company on Artificial Intelligence and Machine Learning – Full Text Transcript
- Andrew Ng launches ‘AI for Everyone,’ a new Coursera program aimed at business professionals
- The difference between AI and machine learning, explained
