How to tame AI: a Quick guide for business

How to tame AI: a Quick guide for business

Business instrument AI is gaining steam. According to SAS, companies from different industries expect their activities to be formed by AI over the next 5-10 years. However, high enthusiasm is hampered by lack of organizational readiness. Many doubt whether to start now - often discourage cultivated opinion that AI only for large players. But is that really true? All things considered, only a couple of cases to begin with. Actually no, not from Google or Amazon. Winemaker from Piedmont understands that the quality of his wine (and the success of his business) depends on the calculations no less than the production effort. So, he merged with a leading Italian-German AI software company the Ors Group. The result of their three-year collaboration is Algo-Wine, a software that makes accurate predictions when it is best to harvest grapes. This brings the winemaker up to 30% of the annual benefits. Sounds tempting, doesn't it? Small online Accounting business works hard to make managing and registering accounts easy and fast. It creates an ongoing research project and is implementing cloud-based software AI, aimed at automating the task of accounting for their clients. In 2017, he wins the title of pioneer of Excellence practice, the most prestigious award in the field of accounting. In the same year, it turns 1 million pounds. Good result for a company with 30 employees. A jewelry store from the diamond district, struggling with fierce competition, finds salvation in the representation of a virtual gemologist who uses AI to explore the global diamond market. In just seconds, it handles a million data points to help customers make the perfect choice for a wedding ring. Customers are thrilled: no more destructive searches. The owners of the company are not less happy: about 2,000 competitors are left behind. Well, maybe You don't need to be convinced anymore, but still, you have a question to start with. All things considered, everybody discusses the significance of AI, but many explain how to approach this. Then the first thing we need to find out is what we should call AI.

What is AI in the narrow and broad sense

Currently, the term "artificial intelligence" is used in different meanings. In a narrow sense, AI only means software that simulates the operation of the human brain. More broadly, AI is used as an umbrella term for several different technologies that include:

  • Machine learning- ML uses statistical methods to improve the performance of a computer system based on a variety of data without or with minimal human intervention. Facebook's facial recognition is a good illustration of how it works.

  • Smart robotics- Today's smart robots are artificial intelligence systems that use ML techniques to obtain information from the environment. They are already used in several industries and perform tasks from medical diagnostics to pizza cooking.

  • Virtual help- A virtual collaborator is a product specialist that utilizations intellectual processing to offer clients around the clock assistance when using websites or searching for information. Perhaps you have already had the opportunity to get acquainted with such virtual assistants as Amy from X. ai and IBM Watson.

  • Management decision- Automated decision support depends on the ability of rule-based systems to make decisions on recurring management problems without human intervention. AI-based decision-making is already being used in transport management systems and online recruitment systems. One of the famous leaders in this technology is Cypress software systems.

  • Speech recognition- It is the ability of computer programs to listen to and understand human speech. Amazon Alexa, Apple's assistant for Google, Microsoft, cortana and Siri, is here.

  • Generation of natural language- This technology is aimed at analyzing the data and converting it into readable text. This is what Forbes already uses to generate company profit reports, and Environment Canada uses to generate weather forecasts.

These technologies are already being used in so many industries that they certainly deserve a special article that we promise to provide. But whatever idea you decide to implement, you will start with certain common steps.

The introduction of AI in business: the first steps

It is impossible to implement AI in your company for a couple of days. Pre-audit and optimization of existing methodology and approaches go far. You truly need to begin now on the off chance that you would prefer not to retreat in 5-7 years. Here are some actions that are worth considering first-hand. Check out AI technologies- Find out what is behind each of them and how they can be used. You can find many tutorials on Udemy, Coursera and Udacity. NVIDIA has developed a comprehensive list of artificial intelligence courses for different levels, ranging from beginner to advanced - very convenient. Try AI products yourself to understand what you like and dislike about them. Brainstorming how your customers can use similar technologies when working with your products. Reconsider your business- Ask yourself where in your industry you can gain a competitive edge by applying AI. Or, on the contrary, in what matters do you lag behind and how AI can help you get up to speed. For example, if your problem is finding leads, consider using machine learning for search, advertising, and cold pitching. A smart chatbot can be useful if you need to improve on-site interaction. Think about how you can add AI capabilities to existing services. Some options improve your website, optimize marketing campaigns, improve customer service, or build a social strategy. Set measurable goals and seek the advice of a technical expert. Make a preliminary assessment- Assessment of implementation costs. AI is different from traditional software in terms that you can't just install it and forget it. It is necessary to control the process of machine learning. Who are you gonna trust? Are you going to build its own staff of engineers, machine learning or will involve third-party experts? You data- To have where to study, AI needs an easily accessible dataset collected in one place. So, to create a good database, start consolidating the data. It can include information from CRM, advertising campaigns, email lists, traffic analysis, social media responses, public information about your competitors, etc. Modernization of it infrastructure- Check whether you need an it service to redesign to adapt it to the decisions managed by AI. Select one segment as the test site- Think about starting with one segment of your business. Remember, it's easier to fail with the "boil the ocean" project than with a lesser idea when it comes to AI. Conclusions Just as the Internet has changed our whole way of life in the last two decades, just as the AI will become an unmatched force of transformation in the near future. And the sooner you start analyzing the areas where AI can improve your business, the better you will be in the market competition. The adoption of AI is based on the operational readiness. This means the availability of tools and skilled personnel to make effective use of the technology. The first steps to implement AI in Your company's workflow:

  • familiarity with AI technologies.

  • in-depth analysis of Your business to implement AI-solutions.

  • the preliminary cost, and evaluation of personnel.

  • data consolidation.

  • setting up the company's it infrastructure.

  • the selection of the pilot segment for a software startup.

At first glance, it may seem too complicated. But not too worried and trapped in fear. Actually, it is substantially more prone to fizzle with conventional than with AI.

Article original source:- How to Tame AI: A Brief Guide for Businesses

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