Artificial intelligence is no longer just a fad or rumor spawn from sci-fi novels and movies. It represents the present and future of high-speed data transmission for government, businesses and consumers. AI is revolutionizing business of all sizes in many ways, so it shouldn’t be dismissed as “too good to be true” or just something high-end companies use. Here are ways to embrace AI for your business.
IoT and Big Data Analysis
The Internet of Things (IoT) is a driving force behind AI’s rapid development. The concept of electronic sensors everywhere collecting data that feeds a centralized database is at the core of this technological revolution. Robots, automation and machine learning software play into this new landscape as well. Industries that have been early adopters of AI have included healthcare, aerospace and automotive, among many others.
The key to AI helping companies, including small firms, is that enormous data collection gives managers information to analyze to help improve operations. The fact that the data is delivered in real-time allows managers to make quick decisions on marketing adjustments. Machine learning software can also study big data to find patterns humans might otherwise overlook. Despite this opportunity to gain competitive edges, only 4 percent of businesses have used AI, according to a 2018 survey of CIOs by Gartner.
The much talked about arrival of 5G in the early 2020s will play a huge role in the advancement of AI, since it will facilitate more reliable internet connectivity and faster data transmission.
How To Prepare for AI
The first step in deciding how to fit AI into your company is to assess your business goals and determine if new technology will improve it. Can AI eliminate problems, such as replacing unproductive workers with automation? Would you like to boost the customer experience by learning more about what your market wants? AI has tangible solutions for these concerns.
Improving your customer service department should be a top priority, since customer interaction is a key driver of sales. AI programs will help gather deeper information on customers so that companies can personalize buying experiences.
The next step you can take is to partner with AI experts. Managed Services Providers (MSPs) serve as consultants to companies for streamlining business technology. They can help you automate tasks and back up data in the cloud for greater cost efficiency. The key is to surround yourself with the right experts, particularly those that stay on top of cybersecurity.