It’s time to evaluate how AI can improve your business

 
Imam Hoque
Japanese electronics giant Hitachi intro
Machine learning means companies can break language barriers and time zone restrictions, helping to establish relationships across the world (Source: Getty)

The digital world has been marching forward over the past 20 years, providing ever more efficient services to the public and businesses via the internet, and now there is a new revolution on the horizon.

Artificial Intelligence (AI) will dramatically change the nature of the service industry and white-collar work. Like all revolutions, the rise of AI brings opportunity to those who embrace and harness the changes.

AI now has the data it needs and is no longer a disembodied brain; it has the means to interact directly with businesses, people, and machinery through digital channels.

Now is the time for businesses to ask themselves: what does AI mean for you and how could you benefit from it?

The rise of the robots

AI has the ability to process large volumes of data, learn from it, be taught, spot patterns, make predictions, and draw conclusions rapidly – all without faltering.

With this in mind, consider whether there are things that AI could do better than how you’re doing them today.

This could range from better decision-making to increasing capacity. It could help you thoroughly understand your customers, or give you the opportunity to provide a more bespoke service.

AI can offer your customers more insight based on the data you have accumulated, and this added personalised value could help you achieve an edge over your competition.

Breaking down barriers

As well as taking advantage of AI to build on existing relationships with clients, consider how AI could help you reach new or wider markets.

Using AI and machine learning means companies can break language barriers and time zone restrictions, helping to establish relationships across the world. Automation and AI could help you implement a successful round-the-clock service.

Don’t fall asleep at the wheel

Once you have identified the opportunities that will benefit your business and your clients, you need to act swiftly to evaluate the feasibility of each.

The big challenge with AI-driven solutions is the fact that they are very dependent upon data, and occasionally it is unclear whether they will deliver the accuracy and benefit you may require. It is therefore important to ensure that AI integration will succeed. A way of doing this is to mathematically prove the AI capability based on historic data in order to predict its benefit.

Technological innovation is moving at an unprecedented rate, with new developments reported every day. As a business, it’s vital that you’re not left behind just by adopting one strand of AI and standing idly.

Be aware of how quickly AI is moving and continuously react to keep up; adopt open platforms, review and focus on how to continuously improve. Make sure that your company uses the new data available to action better automated decision-making.

Now is the time to ask yourself if there are new innovative offerings that you could provide your customers as a result of AI capabilities. Make sure you are not caught napping, or you risk becoming the next Kodak.

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