Artificial Intelligence (AI) for businesses has been around for dozens of years now. Companies that integrate AI solutions into their day-to-day operations have reaped many benefits. The most obvious ones include intelligent decision making, enhanced customer experience, ability to solve complex problems, guaranteed business continuity, minimized errors, and elevated business efficiency. (1)
To realize similar benefits for your business, you need to adopt time-tested AI strategies that guarantee success. To help you out, here are some tips you can apply in order for your enterprise AI to be successful:
1. Use data labeling platforms
Data is one of the most valuable possessions any business can have. But its full potential can only be realized if the data is used correctly. One aspect of data management you wouldn’t want to miss is labeling.
Essentially, labeling involves adding particular details to data in order for computer systems to quickly identify and process it. You can make this process considerably manageable by using a reliable data labelling platform. Such platforms have sophisticated tools and algorithms to analyze and label data. They’re more efficient than other data-label approaches, such as crowdsourcing or in-house labeling. The resultant data can easily be used by machines for various processes.
2. Invest in requisite technology and tools
Not any off-the-rack computer is capable of handling big data. You need high-capacity Central Processing Units (CPUs) and Graphical Processing Units (GPUs). The higher the cache memories and the more the processor cores, the more seamless your AI project will run. You’ll also need an efficient power supply unit that satisfies your system’s thermal design power requirements.
Aside from investing in state-of-the-art hardware components, you’ll need several tools to develop and optimize networks and workflows. There are dozens of these in the market, so it’s critical to choose one based on your specific business needs and knowledge of how to use them.
3. Hire the right staff and develop their talents
Reports indicate that most of the top AI talent is being hired and retained by top global technology companies, like Microsoft, Google, and Facebook. To hire an AI Engineer with a Ph.D. level of education, you might have to pay them USD$350,000 every year in compensation. (2)
Even if it’s a bit on the higher end for most small and medium enterprises, the good thing is that you can outsource your AI needs to remote firms at a fraction of what you’d pay a full-time in-house AI specialist. Whichever option you choose, ensure you carefully select your team to guarantee the success of your enterprise AI.
4. Align your AI strategy with the overall business objectives
It’s a commonplace for businesses to embark on an AI project, only to collapse somewhere along the way because of disagreements between the different management levels. You ought to be wiser and involve all stakeholders from the very beginning.
Most importantly, convince all participants by proving how the adoption of AI in the company will help achieve the overall business goals. Make sure you mention the aspect of gaining a competitive advantage over rival businesses. This way, it’ll be easier for all leaders to play their assigned roles. They won’t feel as if it’s a mere time-wasting venture.
5. Start with elaborate use cases
There are a lot of misconceptions surrounding AI. One of the most outstanding ones is the illusion that AI could render humans redundant at the workplace. There’s some partial truth in this, given that tasks that were once handled by humans can be automated, leaving the concerned employee jobless. For this reason, you may encounter opposition once any discussion of adopting AI in your company kick off. (3)
Consider finding elaborate use cases and presenting the same to all concerned staff in your company. This will help them fully understand the role of AI in the firm and possibly eliminate unnecessary opposition.
In the same sense, try implementing the AI project in manageable phases. Perhaps you can do it department after department or function after function. The idea is to prevent your business from biting way more than it can chew at the moment.
Conclusion
Succeeding in Enterprise AI is possible with a bit of strategizing. First, you’d want to mobilize the right staff and tools for the job, including first-rate hardware, software, and data labeling platforms. Secondly, you must make sure that all concerned parties are aware of the benefits of adopting AI in your firm. If they’re convinced that it’s a guaranteed means to achieving the business objectives, they’ll embrace the move, hastening the realization of success with your Enterprise AI.
References
- “AI, Enterprise Software: Benefits for Business”, Source: https://medium.com/@Intellectsoft/ai-enterprise-software-benefits-for-business-d9c5fbdfe5c9
- “How To Succeed With Enterprise AI: Buy Vs. Build”, Source: https://www.forbes.com/sites/glenngow/2021/02/28/how-to-succeed-with-enterprise-ai-buy-vs-build/?sh=32a7572a3bed
- “Is Artificial Intelligence (AI) A Threat To Humans?”, Source: https://www.forbes.com/sites/bernardmarr/2020/03/02/is-artificial-intelligence-ai-a-threat-to-humans/?sh=6ebb7736205d