Preparing Your Business for the AI Revolution

Introduction

Artificial Intelligence (AI) has become a buzzword that seems to be it concept across all industries. According to experts, the AI revolution will dramatically shift the way we live, interact and do business.

AI affects each industry and sector differently, but there are some common patterns that always reoccur. This is what makes it possible to prepare for developments in AI technology by keeping up with discussions that are maybe outside of your domain.

The most interesting thing about AI is that it’s already all around us, seamlessly embedded into our daily lives. For those that associate artificial intelligence with Sci-Fi from the ’70s, they couldn’t be farther from today’s reality.

Nowadays, all kinds of businesses implement AI solutions and tools in order to improve their performance, grow their customer base and increase profit.

If you are a business owner who wants to stay ahead of the AI revolution, here is some of the best device from top technology and consulting experts:

Anticipate Changes and Adapt Accordingly

Even if your industry doesn’t seem to be highly impacted by AI, it will be – eventually. Given that it will solve problems that were presenting enormous challenges just a few years ago, it’s obvious that every business aiming for growth and progress will adopt it.

If you keep up with your industry’s latest trends, it’s likely that the top experts are constantly bringing up artificial intelligence, and for a good reason. Also, if you previously ignored these discussions or didn’t bother to engage, it’s high time you start.

Even if you’re uninformed or misinformed about the potential for AI in your business, you can learn about the current course of developments by listening to some of the top experts in your domain.

Here are some AI conferences in 2020 that can help you get into the discussion around artificial intelligence, according to your business:

  • AAAI 2020: Association for the Advancement of Artificial Intelligence (New York, US, February)
  • IJCAI 2020: International Joint Conference on Artificial Intelligence (Yokohama, Japan, July)
  • ICRA 2020: International Conference on Robotics and Automation (Paris, France, June)
  • ICAPS 2020: International Conference on Automated Planning and Scheduling (Nantes, France, June)

You can also learn a lot by reading journals, magazines, and articles related to the field. Many experts successfully manage to explain AI technology in layman terms and help illustrate it more clearly to a general business audience.

These are some of the best websites that you can follow to keep up with the developments of AI in the world of business:

  • AIBusiness.com
  • Microsoft’s AI Blog
  • AIMultiple.com
  • AIinMarketing.com

Analyze the Potential Benefits of AI for Your Business

No matter which industry you are in, AI can provide a number of benefits, depending on how you want to use it and how much you want to use it.

“When we started implementing AI techniques like deep learning and big data in our company, we have witnessed swift and far-reaching improvements. In a writing company, AI can go a long way in streamlining and optimizing the work process”, says Marie Fincher, head of content.

To learn about a successful implementation of AI in a business similar to yours, check out best practices examples on the web or track what your competitors are saying about using AI.

Educate Yourself on Risks of AI

Don’t fall for the noise of over-excited AI enthusiasts: the truth is, there can be some risks in doing business using AI.

Just like with any other innovative and disruptive technology, there are risks of making mistakes that would be hard to fix because there is a shortage of experts in the domain. If you have local AI experts available, their services will likely be very expensive, which can have a detrimental impact on your profit.

Before starting to work with this technology, you should do a thorough cost-benefit analysis to see whether possible mistakes and setbacks will be worth it in the long run.

If you decide to implement it, the best way to go about is to start with smaller projects and business section and view them as experimentation and evaluation.

Implement Company-wide Changes

After you have analyzed the results from your smaller-scope experiments within your organization, it’s time to implement AI technology on a wide basis and start using it in your day-to-day operations without supervision.

Applying artificial intelligence to your full operational system is the only way to really reap all the benefits of this time-saving, insightful and innovative technology.

“When all of our departments started using Grammarly, an AI writing assistant, our quality and efficiency improved drastically. At first, it was kind of hard to get used to it, but once it got introduced to our regular writing process, it turned out to be extremely useful”, says Angela Baker, a writer at Supreme Dissertations.

Consult AI Experts 

In order to properly prepare for the very near future where your business will likely use AI in most of its operations, it can be smart to invest in an AI team. If you don’t want to hire AI consultants in-house, you can contact some of the leading experts in your area.

What they will basically do is go through all the above steps that we have mentioned for you.

After successfully implementing all of the changes and preparations that they suggest, your company will be riding the wave of fully-optimized AI utilization.

Conclusion

Running away from the wonders and potential benefits of AI will only do harm to your business. Implementing any change is hard, especially in business operations with familiar patterns and models, but it’s going to be downright impossible to ignore this technology and stay afloat.

If you’re uninformed about the technology, it’s nothing odd – after all, the technology is relatively new and there are new questions cropping up every day.

Before you start preparing your business for the AI revolution, make sure you are as informed as possible and ready to take the next step as the decision-maker.

About the Author: Kristin Savage nourishes, sparks and empowers using the magic of a word. Along with pursuing her degree in Creative Writing, Kristin was gaining experience in the publishing industry, with expertise in marketing strategy for publishers and authors. Now she works as a freelance writer at Studicus and WowGrade.

 

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