Artificial intelligence is too often considered a nascent technology and inaccessible to smaller businesses. However, AI enables business efficiency, allows us to automate corporate strategies and improves overall business success.
Your company doesn’t have to have a vast budget and innovative strategies to implement artificial intelligence. On the other hand, some companies may implement artificial intelligence in only one specific area and limit themselves.
We need to make artificial intelligence part of our wider corporate strategy, motivated by practicality and not purely hype.
Corporate strategy and teams
AI strategy needs to confront these questions:
- Do you use an in-house or outsourced team?
- What aspects of your company are the biggest priority to automate?
- How can AI advance your wider corporate efficiency?
Harvard Business Review cites an inability to organise AI strategy and rewire an organisation as the main cause of slow growth in artificial intelligence. In addition, one of the biggest mistakes businesses can make is to “make is to view AI as a plug-and-play technology with immediate returns.”
While it can provide short-term benefit realisation, the true value of AI is in the long term. It means enabling business intelligence through a corporate strategy, instead of attempting to face the problem head-on.
Another obstacle that many businesses face is attempting to implement a solution without first finding a problem. For example, AI can face a myriad of issues from data management to financial services to asset tracking and analysis. It’s a necessity that the business first finds the problem that needs to be solved before then solving it with AI.
Choosing the best AI implementation for your business
AI implementation is a long-term investment that will provide both efficiency and cost savings in the long and short term. To choose the best AI implementation for your business, you need to decide the best approach to artificial intelligence. This could be anything from:
- Using an outsourced company to implement an AI-backed platform
- Bringing in a company to work on a bespoke AI solution
- Hiring a software development team to implement AI in your organisation on a wider level
In addition, reskilling will be a core part of implementing artificial intelligence. Some roles will be replaced or rendered inefficient due to artificial intelligence. By reskilling those in these positions, we can ensure that nobody is left behind in the artificial intelligence workforce.