There is no question that artificial intelligence (AI) is being used in a rapidly growing number of industries. This technology has experienced an explosion of industry adoption in the last five years.
AI technologies have existed for decades. However, recent advances and innovations have enabled more uses of AI than ever before. The availability of enormous datasets is one of the most important changes that has enabled AI. As more and more companies move their business towards a digital model, data becomes increasingly easy to collect. Different industries collect different types of data. Regardless of the type of data, creating meaningful insights from the incredible volume of raw data is an essential task. AI and Machine Learning (ML) provide techniques to discover patterns and inform decisions from this massive amount of data.
In addition, easily available cloud computing solutions make AI easier to implement. The increasing speed of the internet and the decreasing cost of computing power now makes it practical for companies of all sizes to leverage AI. These advances make it possible to use advanced algorithms which previously required expensive dedicated supercomputers. In addition, the creation of web-focused AI solutions allows these powerful tools to be wrapped in user-friendly interfaces. Through these advances, all stakeholders, not only IT or data professionals, can derive insights from data.
When it comes time to begin implementing AI in your business, there are many important considerations. There are many approaches available to businesses considering implementing AI solutions. Choosing the right software, projects and consultants are all essential to successfully integrating AI at your company. Here we lay out the important steps to take and questions to ask when implementing AI in your business.
Consider the potential applications of AI to your business
AI is a huge field of research that has a plethora of diverse applications to business. These range from complex predictive modeling to image classification to interactive chatbots. The possible applications of these technologies are nearly endless. Understanding what AI can do (and also what it can’t do) is essential.
When considering implementing AI in your business, it is essential to consider both your businesses needs and the abilities of AI technology. Identifying the intersection between these two is the first step.
Understanding where inefficiencies or uncertainty exist in your industry is a good starting point. Every industry and business has different needs. Therefore, understanding the unique characteristics of your industry is essential. Conversations between experienced professionals in your field and data specialists can help both sides identify these intersections. This will allow your business and stakeholders to identify the most important places to start using AI.
Identify Realistic Goals
AI projects can range in scale from a few months to many years. Though there are many exciting potential applications of AI, not all are feasible in the real world. When considering the possible projects to implement, stakeholders should consider the steps required to create a minimal viable product. This allows teams to start small and build, showing early successes to fuel future projects.
When first implementing AI in your business, it can be smart to start with a smaller target. Focusing on customer success can be a great way to introduce AI into your business. Using natural language processing to process reviews is a much more attainable goal than redesigning the entire workflow of your company. Though these may both be useful applications of AI, starting with a small success makes it easier for large projects to succeed.
Consider User Needs
AI is no longer exclusively used by tech companies. AI can provide valuable insights into nearly every industry. Therefore, it is important for AI to be usable by non-programmers. Today, AI must be accessible to executives and stakeholders in companies that do not focus on tech. Today there are many options available when it comes to AI software. This can range from powerful low-level programming libraries to high-level visualization dashboards. Striking the correct balance for your business is essential when selecting AI software.
It is important to consider the user. Businesses may use AI in internal systems such as HR and project management. These applications will have very different requirements from customer experience AI applications. Different software solutions are targeted at different users and different use cases. Some specialized use cases may require custom solutions.
Measuring success and ROI is another essential component of the AI workflow. After spending months of man-hours and significant capital on implementing AI, it is essential that the results are clear. Though AI can provide significant improvements and save costs, these changes may not always be obvious. A key component of any successful AI campaign is proving that it was successful.
Processing large quantities of data can identify useful trends in seemingly noisy data. However, these insights alone are not enough. In order to be useful data must be presented in an interpretable way. Providing executives and stakeholders with clear outcomes is essential to continued AI implementation.
Real-world businesses have many moving pieces, and it may not always be clear which changes are responsible for improved key performance indicators (KPIs.) Using AI software that enables you to easily create meaningful visualizations and reports is essential. Humans are visual creatures and have a far easier time interpreting charts, graphs and other data visualizations rather than raw numbers.
When it comes to implementing AI, businesses have many options. There are many companies offering AI software to many different industries. There are also many free and open-source tools available to enable anyone to get started with AI. The number of options can seem overwhelming. However, considering your business’ needs, capabilities and audience will inform these decisions. Companies like swivl offer a diverse suite of AI products that can be rapidly implemented for a wide range of businesses.
We invite you to visit swivl’s new website and learn more about our AI-powered products.
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