Artificial Intelligence (AI) has become indispensable in modern-day businesses. Every new year, we are inundated with news about the new wonders that can be performed by AI, so much so that there are fears that machines may entirely take over most human job roles.
However, one cannot deny the fact that there are jobs that can’t be replaced by AI. For instance, you’ll always need some human efforts to put up signage for your brick-and-mortar business. “A sign from a quality sign company is a sure way to make a great first impression,” says Sign Crafters Inc. a company that specializes in putting up custom signs in Evansville and all through the United States.
While some job roles cannot be fulfilled by artificial intelligence, there are a couple of other job roles that are better handled by AI. For instance, there are endless reasons why online helpdesk software is essential for your business.
Many business owners have recognized the importance of AI in business, but many are still struggling with how to implement this technology to achieve the best results. Here are a couple of tips on how you can use AI to benefit your business operations.
1. Determine What Area of Your Business Would Benefit from AI
There are diverse artificial intelligence applications available, ranging from voice searches by Google to pop-up virtual assistants on e-business sites. Many more new applications are still popping up daily.
Today, AI is everywhere around us. You’ll find them whether you are getting into the car to drive off to work in the morning, on your computer when you get to work and even in your social media feeds.
However, the fact that AI is everywhere does not mean you could just integrate all types of AI into your business. The process of implementing AI has to be done wisely. When done wisely, AI provides an edge over your business competitors.
Areas, where you can integrate AI into your business, including business management, e-commerce, marketing, etc. In business management, AI can be used as spam filters, sales forecasting, process automation, smart e-mail categorization, online customer support, automated responders, voice-to-text features, security surveillance, automated insights, and business forecasting.
In marketing, AI can be used in ad targeting, content curation, news feed personalization, image recognition, real-time bidding, language recognition, customer service, and analytics. E-commerce businesses can use AI for price optimization, fraud detection, service personalization, sales predictions, and product recommendations.
Long story short, different businesses can benefit from artificial intelligence in different ways, so there is no one-plan-fits-all strategy for all business owners. Generally, areas of business that benefit from artificial intelligence include; research and development, customer service, IT, advertising, marketing, PR, logistics and fleet management, supply chain, purchasing, human resources, distribution, etc.
A business owner must carefully analyze and decide which areas of their business would benefit from artificial intelligence. This service could also be outsourced to a professional data scientist.
2. Determine Your AI Budget
AI applications don’t all come cheap. To integrate artificial intelligence into your business, you must set aside some budget for it. The amount of money to be budgeted depends on how many AI solutions you think are worth owning.
Many business owners are still somewhat sceptical about paying the price for AI applications, mainly because there are still many implementation issues such as the unavailability of top-notch solutions, talents, data quality, and security issues. A business owner must find a talented AI expert they can trust, so that AI integration is done seamlessly and successfully to avoid waste.
3. Hire Experts in Big Data Analytics and Data Science
There is an obvious shortage of AI professionals out there. This is because the technology seems to be coming out in leaps, and the software developers, data scientists and others needed to fill up the demand are in short supply.
An easy way to go around this shortage is to work with freelance AI experts. This means you don’t have to hire these professionals as permanent staff of your company; however, you can pay them one project at a time to work at a pre-determined time and pace to get your AI project ready.
Alternatively, a business owner can also decide to train their already-existing IT staff as expert data scientists and machine learning engineers.
4. Secure Your Business’s Data
Data leaks are very common among internet-driven businesses, even the biggest ones. Business giants such as Alibaba, Yahoo, Facebook, Linkedin among others have all suffered some form of data leaks in the past. This goes to show how much attention one needs to pay to data security when working with artificial intelligence.
Furthermore, AI is driven by input data, which means that any mistakes made while inputting the data could lead to mistakes. The consequences of these mistakes can sometimes be dire. For this reason, business owners must ensure their data processes are safe and secure at all times.
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I am Adeyemi Adetilewa, a media consultant, entrepreneur, husband, and father. Founder and Editor-In-Chief of Ideas Plus Business Magazine, online business resources for entrepreneurs. I help brands share unique and impactful stories through the use of public relations, advertising, and online marketing. My work has been featured on the Huffington Post, Thrive Global, Addicted2Success, Hackernoon, The Good Men Project, and other publications.