{"id":1087,"date":"2019-12-06T07:51:56","date_gmt":"2019-12-06T14:51:56","guid":{"rendered":"https:\/\/www.vanitymobileapps.com\/blog\/?p=1087"},"modified":"2019-12-06T07:51:56","modified_gmt":"2019-12-06T14:51:56","slug":"why-your-business-needs-to-invest-in-artificial-intelligence","status":"publish","type":"post","link":"https:\/\/www.vanitymobileapps.com\/blog\/artificial-intelligence\/why-your-business-needs-to-invest-in-artificial-intelligence\/","title":{"rendered":"Why Your Business Needs to Invest in Artificial Intelligence"},"content":{"rendered":"\n

Artificial intelligence is rapidly affecting nearly every industry across the face of the globe.<\/strong> While you may think your business is too small to invest in something like AI, the fact is that it may be more affordable than you think. Right now every company has its opportunity to take advantage of artificial intelligence to increase their revenue and decrease their costs, perhaps getting a \u2018leg up\u2019 on their competition, but don\u2019t ignore this opportunity; the time to act is RIGHT NOW. \u00a0In the very near future (10 years or less) you will see AI used widely across your industry, in ways you may not imagine, and if you are not planning ahead you are putting your business at tremendous risk. <\/p>\n\n\n\n

\"\"
<\/figcaption><\/figure><\/div>\n\n\n\n

While AI creates a massive opportunity, companies will not be\nable to take advantage of its benefits without putting forth effort. The executive\nmanagement team must address artificial intelligence right now and approach\nthis issue with deliberate intent. Whether you realize it or not, you are in a\nrace to gain a competitive advantage. There will be winners and losers.\nProgressive businesses will gain a tremendous advantage that slower-moving\ncompetitors may never recover from.   AI will create a substantial performance gap\nbetween the progressive companies that take advantage of artificial\nintelligence and companies that fail to adopt AI or only partially take\nadvantage of the technology. <\/p>\n\n\n\n

How does your company make sure they are on the right path to take advantage of AI? Start by creating an artificial intelligence strategy for your organization, making sure that it accounts for the challenges your business will face.\u00a0 One challenge that many businesses will need to address is a lack of data scientists available today. In recent years the demand for data scientists has grown rapidly, however, the talent pool has grown very slowly. This is a huge gap between demand and supply, which could leave smaller businesses unable to attract talent. Fortunately, they can turn to outside AI developers<\/a> that are experts in the business to help them with their needs. <\/p>\n\n\n\n

Other factors that your business should consider to ensure\nthat you come out on top include artificial intelligence education for your organization.\nTake a deep dive into successful use cases and compare them to those that are\nunsuccessful. This will help your organization start looking for use cases that\ncan propel your business forward. Additionally, you will want to share with\nthem thoughts on how to overcome obstacles and how to create a path from a concept\nto a valuable software tool.<\/p>\n\n\n\n

Each artificial intelligence project that your company\nundertakes should be able to create a measurable impact on revenue or customer\nexperience. Consider potential applications and then rank the potential use\ncases based on both their feasibility and projected value. Applications that\nhave a high projected value and a high degree of feasibility should be the\nfirst you integrate into your business systems. <\/p>\n\n\n\n

Make sure you consider how you will monitor and govern these\nsystems. Machine learning models tend to drift over time and the data you are\ninputting can change, so make sure you have a plan to govern your machine\nlearning applications.  Your company must\ncreate guidelines and tests to protect itself from inadvertent bias or errors.\nCheck regularly and make sure that your AI application is working as expected. <\/p>\n\n\n\n

Right now is the time for your organization to start\nthinking now about how to leverage AI as a part of your corporate strategy with\na plan to utilize it to transform your organization.  Creating and working with artificial\nintelligence should be second nature to everyone in your company, giving them\nthe confidence to look for potential use cases. An empowered workforce will\ngenerate a multitude of ideas that can generate successful AI applications that\ndrive earnings and improve the customer experience. <\/p>\n\n\n\n

Decide right now that you want to propel your business\nforward by leveraging the power of AI. This means utilizing artificial\nintelligence to assist in more effectively running your business and providing\nyou with a competitive advantage.  Start\nby identifying opportunities within your enterprise to significantly impact\nrevenue with AI. Select the ideas that are justifiable based on projected value\nand practicality and execute these projects to push your business forward. <\/p>\n\n\n\n

Image: Torkild Retvedt (Flikr) http:\/\/bit.ly\/2PkATaM<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Whether you realize it or not, you are in a race to gain a competitive advantage. There will be winners and losers. Progressive businesses will gain a tremendous advantage that slower-moving competitors may never recover from. AI will create a substantial performance gap between the progressive companies that take advantage of artificial intelligence and companies that fail to adopt AI or only partially take advantage of the technology. <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[101],"tags":[103,102],"class_list":["post-1087","post","type-post","status-publish","format-standard","hentry","category-artificial-intelligence","tag-ai","tag-artificial-intelligence"],"_links":{"self":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts\/1087","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/comments?post=1087"}],"version-history":[{"count":3,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts\/1087\/revisions"}],"predecessor-version":[{"id":1091,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/posts\/1087\/revisions\/1091"}],"wp:attachment":[{"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/media?parent=1087"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/categories?post=1087"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vanitymobileapps.com\/blog\/wp-json\/wp\/v2\/tags?post=1087"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}