AI can accelerate, streamline and help you scale up exponentially. It can introduce you to uncharted territories full of opportunities, by sharpening your effective decision-making skills. AI only operates or predicts possibilities after amassing a tremendous amount of available data sets. That means you have to feed AI all the available data first, then it will empower you with insightful highlights and pave the direction for opportunities and indicate gaps along the way. Often business processes involve a diverse set of functions ranging from lead generation to inventory management. Through AI augmentation every single process can be streamlined, plus efficiency level can be expedited pragmatically with tremendous accuracy of course. Healthcare, travel, supply chain, marketing, talent management sectors are having immersive experiences by scaling up by leaps and bounds.
In a recent study it was concluded that in 2020, over 85% of customers will be interacting with chatbots instead of a human. So businesses are becoming more cautious to implement AI, cause they don’t wanna get left behind. Many large scale companies that have sufficient funding, have invested heavily in mining a massive amount of available data. Question for many small scale companies pops up that how to get started initially. I would say, simply start with a very small project with a sole aim to categorize or predict progressive paths and actionable steps. In the contemporary marketplace, there are various software tools and reliable services that can be used to apply AI. Also, first its better to familiarise yourself so that you know the whole process inside out.
How to get started, simply identify any manual chore at your business, that’s cumbersome and take too long, plus plenty of manpower. Figure out that are these chores predictable. Automize this process with the help of any low cost trusted AI start-up like DevCrew, a company that’s skilled at robust process automation. You may come across AI biases initially, often it occurs if we feed less or scattered data while supervising the learning curve. Recently, racial discrimination was observed when AI was unable to identify a black woman. Overreliance may be misleading, so once you adopt, better maintain and keep it top-notch.
AI dwells on data to generate better insights. Like if we want a machine to identify a zebra then we have to feed it with the plethora of options, so that it can differentiate essentially, from various similar animals like a horse, pony, cows, etc. Through supervised learning, various matters like natural language processing, image resemblance, and other classifications issues are resolved. Unsupervised learning segregates things in clusters of information that have almost similar attributes. There are companies like Flybits, that are helping through their contextual recommendation engine. That lets financial institutions deliver hyper-personalized offers and content and products that customers need. There is another AI company Endor, that predicts fast, accurate and in a secure way.
Before you get started, make sure that you’re complying with GDPR and other regional consumer policies. Integrate all touch-points in a scalable way, like TV, web and social media. First, collect data, then organize and manage it form a single point. Have to segment it in various denominations at the granular level. So that it can help in getting real-time legit insights. While choosing an AI partner, ensure that they are offering a scalable solution, cause simple rule-based decision making won’t work in the long run. Better to select an industry-relevant partner that is solving the same problem for trusted existing connections. Also don’t forget to examine your AI partner’s business philosophy, so that you can achieve the desired outcome without harming anyone in the process.
AI unravels greater opportunities globally by offering magnificent insights that can be often game-changing for the businesses. The tremendously large scale manufacturers can find an error in their products before it causes any harm. Customer services are already reaping the benefits of chatbots. Elon Musk, CEO of SpaceX and Tesla, has plans to launch self-driving “robotaxis” most probably by next year. The company has started building self-driving electric cars for a Tesla ride-hailing service already. Elon is expecting to operate robotaxis on a similar model like Uber and Airbnb. So let’s pick up momentum by being an early adopter before it gets too late. Your competitors are already catching up quickly. That means sooner the better. Be an early adopter. This way you can sharpen the skills before the time comes for that progressive push upward. So better start solving your business problems by using machine learning and predictive analytics tech to integrate your systems. When it comes to adopting AI, if you keep waiting for the fifth wave to push you towards the desired outcome, that will be too late. Time is now!