Adopting AI-based technologies into your business won’t only save you time in performing your day-to-day administrative duties, their integrations are cost-effective and they are influential in increasing customers’ engagement and satisfaction thanks to the incredible tools and innovative ways of handling things that they offer.
Businesses now benefit safely and efficiently from the use of AI applications. To make workflow better and faster, AI can be used to mitigate the lack of skilled professionals in an organization too.
Diving deeper into this article, you are going to put you through the current situation of AI in our businesses today, the benefits business owners can derive from adopting the technology into their businesses, steps you can follow in adopting AI technologies into your business, and many more interesting things.
An Overview of Artificial Intelligence
Artificial intelligence is a very important tool for automating business processes and making autonomous decisions with the ability to learn from data and remain conversant with it over time. Strong demand for smart AI systems has resulted from the accumulation of a huge chunk of data collected from users via eCommerce, social media, educational platforms, and other platforms. In addition, the need for smart AI systems is also obtained from a comprehensive understanding of how to effectively integrate these data.
Some key implementations of AI in our world today are machine learning, natural language processing, knowledge-based systems just to mention a few of them:
Natural Language Processing (NLP): this important AI technology for business operations makes use of machine learning techniques in converting data from audio, video, and text unstructured sources easily to structured data that can be used by many decision-makers. Common integrated applications of NLP include text extraction of certain information, automated classification, web pages’ analysis of content and links.
Machine Learning: this is a set of computational algorithms for quickly processing and understanding a huge chunk of data. Deep learning is one of the most excellent machine learning techniques. The extensive availability of business data and the uprise in computing power have untimely increased the efficiency and accuracy of deep learning algorithms.
Knowledge-based systems: these are some of the most integrated and most successful systems for business.
The Importance of Integrating Artificial Intelligence into Business
As a business owner, the adoption of AI-based technology to your business can help you discover what has been wrong with your strategies in the past. AI technology is also there to serve you in deciding about future happenings and making plans on how to be efficiently value-oriented.
Having said all this, one of the reasons why you should adopt AI into your business is the fact that AI can play a big role in influencing the outcomes of your business by giving you the right access to information.
By revealing hidden and unhidden insights in data, AI assists business owners in making profit-oriented decisions. Also, by leveraging past data, AI is sufficient to predict future outcomes for business organizations.
Another good reason you should integrate AI into your business is the fact that the technology can help your business increase its ability to adapt to the changing market and environmental conditions in maintaining productivity and cost-effectiveness.
Key Steps You Can Follow in Adopting AI to Your Business.
Below are a few important steps you can use in integrating AI into your business and ensure that the implementation comes out good:
- Understand the fundamentals and applications of AI
- Discover the problems you want AI to intervene in your business
- Assess the potential value of the various possible AI implementations you have identified in terms of business and finance
- Know the internal capability gap of your organization
- You can set up a pilot project after you might have consulted AI-base technology experts from a reliable company
- Integrate different data sets together and filter out all the inconsistencies so you can have an accurate and rich data
- Apply AI to a small sample of your data first; don’t be in haste to apply it to all your data at once
- Consider the storage requirements for implementing an AI solution and always endeavour to include AI as part of your daily routine
4 Innovative AI-Base Companies that Can Help You Improve Your Business Processes
- AlphaSense: they have a revolutionary search engine (that’s fuelled by AI) for helping businesses find valuable information within the news, transcripts, research, etc. AlphaSense makes use of Natural Processing Language (NPL) in extending keyword searches for important content. Management experts can gain critical business insights and data with speed and conviction thanks to the AI-based NPL technology that they integrate into their systems.
- Clearfind: with their highly reliable software intelligence skills, Clearfind has the tools and data to impact and improve your business processes. It’s the responsibility of Clerfind to ensure that your entire organization has the best set of tools to work with. Most importantly, they have a dataset of over 50,000 software (powered by AI) that they have been using in helping organizations identify the necessary things that they need and things they don’t need. Recently, Clearfind has been known as one of the best companies with the right methodological sound system for finding and evaluating new software.
- Narrative Science: this particular company got skilled experts in data storytelling. How are they able to achieve this? Narrative Science makes use of AI-based Natural Language Generation (NLG) technology in translating data into stories. Most importantly, they have incredible products such as Quill and Lexio that they use in helping companies highlight the most important information in their data so that they can easily make faster decisions in their business activities.
- CognitiveScale: they are capable of building augmented software intelligence solutions for your business. Users have been benefiting from intelligent, transparent, and trusted AI/ML-fuelled digital systems with their solutions. Interestingly, you can simply use your business to quickly build intelligent and trusted AI systems on any cloud thanks to CognitiveScale’s solution. In the process of increasing your business processes with their products, you can at the same time rapidly have an increase in customer acquisition and engagement.
The importance of AI-based technology in businesses today can’t be overemphasized. Apart from the fact that you can easily adopt it in analyzing your company’s software effectiveness, it also helps in saving time and money.