Artificial intelligence - from hype to systematic business development

 

We constantly hear both success and horror stories about artificial intelligence: on the one hand, artificial intelligence frees a person from routine tasks, on the other hand, artificial intelligence at least takes jobs away from us. Companies are striving to publicize spectacularly the various experiments that are fueling hyped-in AI.

In the midst of news coverage, corporate management, and corporate boards, in particular, need to stop and think about how to focus on essential, ie systematic, business development instead of jumping. While artificial intelligence offers significant opportunities, its development is fundamentally similar to any other significant issue: it requires processes and systematic work. One should not expect miracles like productivity jumps without careful groundwork.

Deployment starts with mapping the current status

The starting point for all developments is an analysis of the current situation. The company should map the situation of artificial intelligence both in different business processes and in terms of the company's products and services. The utilization of artificial intelligence is not limited to the core business, but can also be made more efficient in support functions. The readiness to apply artificial intelligence must therefore be determined in different parts of the organization, such as customer interface, information management, financial processes, legal department, marketing, sales, and manufacturing.

If the company is already applying artificial intelligence, it is worth evaluating how the system learns. It is a different matter to build a system that constantly learns both from accumulated data and through feedback than to utilize a model once taught that does not change with new data. The best example of this is probably Google search, which improves and optimizes every time a searcher selects a result based on a particular keyword.

Existing infrastructure, such as data collection and storage, contributes to the development of artificial intelligence. In addition, it is important for integration whether the company uses software robotics, for example. The development is also influenced by general digital capabilities and the availability of the necessary data. Data is used to teach artificial intelligence and it is worth creating your own management model for data management. This ensures that the data is not skewed and that privacy is respected.

Areas of artificial intelligence can be classified as follows:

1) no activities in artificial intelligence
2) uses identified
3) completed pilots
4) artificial intelligence put into commercial use
5) pioneer of artificial intelligence

Top Artificial Intelligence companies in India

A. Accubits Technologies Inc: They are striding into the next phase of human evolution where technology negates the human miseries and we humans can work towards sustaining humanity.

 B. DayOne Technologies: Mobile and Web App development

 C. Talentica Software: They take your product to the next level (Scaling up)

D. Quytech: Mobile Apps, AR/VR, AI, Game Development Company

E. NeenOpal Inc: The Hub Of Data Science Innovation

What are the priorities and areas for development?

Once the current situation has been mapped, it is worth considering and prioritizing areas for development. With the above classification, both the company and its management and board get an overall picture of the situation regarding the application of artificial intelligence. In addition, the company must decide whether to develop customized solutions or use ready-made artificial intelligence products and services. When the overall picture is clear, it is easier to set requirements and goals for both internal and external suppliers.

Business change is always a strategic decision. Therefore, in the application of artificial intelligence, the most important thing is to find out which products and services would have the greatest potential for the utilization of artificial intelligence. Strategic development is also affected by how the company's management and personnel view the use of artificial intelligence in the organization.

A systematic review leads to the creation of a strategic competitive advantage

When the above-mentioned things are done systematically and the result is documented and updated regularly, we get rid of the unnecessary leap and move to the operating model of continuous development also with regard to artificial intelligence. A knowledgeable partner can speed up and help with this process.

Ideally, the development of artificial intelligence is not a separate process, but an integrated part of normal operation. This is when artificial intelligence begins to create a competitive advantage. As a result, the company’s core processes generate data for the use of artificial intelligence and expert feedback is constantly refining artificial intelligence. The company has chosen products and services that are developed using artificial intelligence as a superior competitive advantage and the company’s management and staff are committed to the strategy. In addition, the company has identified the necessary gaps and opportunities in staffing and skills and is training staff in the required skills. If necessary, the company acquires external expertise, such as artificial intelligence experts.

A good example of such a company is Finnair, which piloted an artificial intelligence tool to improve the air traffic situation earlier this year. The predictions of the model become more accurate over time from new data that is constantly generated. In the next phase, the company plans to introduce the tool as part of a broader technical overhaul.

EndNote:

It is useless to go along with the hype or to fear that there is something left out. The transformation brought about by artificial intelligence comes slowly but surely. By systematically taking business development from the perspective of artificial intelligence, you will be able to learn and develop faster than your competitors. You don't have to do everything yourself, because ready-made artificial intelligence solutions are already on the shelf and you can strengthen your own development team with external resources.