Why should I invest in Artificial Intelligence?
Artificial Intelligence has been the highest-grossing technology since the past few decades whether in the movies or the real world. Chatbots and virtual assistants have become commonly used tools by the majority of public and private organizations. Still, there is a slight hesitance in the adoption of AI as the figures prove that almost two-thirds of the companies are not getting beyond the planning stage. There exist acceptable reasons for such insecurity such as the level of complexity, maturity stage, lack of skillset, and concerns regarding governance and compliance. Enterprises like Google, Amazon, and Microsoft are heavily investing in AI as they are aware of future role play and vast potential.
Currently, AI has been conjoined with Machine Learning to perform profitable tasks such as business intelligence, data mining, and response systems. Scientists believe that the day is not far away when AI-enabled sentient robots or Sky net may rule the world and everyone has their own Jarvis assistant such as Tony Stark. Virtual assistants such as Amazon Alexa, Siri of Apple and IBM Watson are motivating all the enterprises to trust and invest upon AI-powered digital infrastructure. The particular article is dedicated to helping you with fast track strategies to fruitfully implement AI in your working mechanism.
How to fast track my AI implementation plans?
The first step is to get familiar with artificial intelligence to optimize its usage. The following steps involve identification of the core competencies and key problems where you want to apply AI. Let us discuss some fast track approaches towards the profitable implementation of AI into your organization.
Decide whether to build or buy suiting your requirements
The first and foremost step would be to decide the core competencies of AI in your organizational structure. The particular decision is yours to make whether to build your own in house algorithms or to invest upon AI solutions provided by proven providers. It is not necessary to write your code, you can always hire experts to deploy AI solutions satisfying your needs.
Prioritize quality in terms of data and algorithms
The particular requirements of professional use of AI are precision and accuracy. Make sure that the data sets used for developing your algorithms must be appropriate according to the requirement of the prescribed tasks. Put in all the efforts to ensure that your product is well tested in all circumstances and capable of making critical decisions.
Make sure it is adaptive to abrupt changes and fluctuations
You must invest enough time and resources on change management training for the algorithms. Dynamic fields such as financial markets online retail and manufacturing require expertise to handle all types of unexpected fluctuations. Always make sure that the AI you are making or buying is well prepared to interpret the fluctuations and incorporate the new procedures into daily workflow.
Adopt a hypothesize and testing approach instead of success or failure
Whenever you deploy an AI project consider every implementation as unique and a learning medium. Create a hypothesize and testing mindset instead of analyzing every project as success and failure. Always carry forward your learning into the next iteration to create a finely working and profitable solution for your enterprise.
It may seem a lengthy procedure but in long term will be capable of serving your employees and customers in a better way. The methodology will align your AI towards the natural way of learning and incorporate the concept of positive self-evolution.
Always acknowledge the gap of internal capability
Study your organizational capability to decide what things can practically be accomplished within a given time frame. Look out for things that need to be acquired or improved before investing upon any standard AI infrastructure. Take help from experts that can analyze and strengthen your digital business architecture to make them highly compatible. Matching the standards required for an advanced automation system is necessary for any enterprise whether through technology or human resources.
Decide where to store your data
Implementation of AI will bring with them a large volume of data that is required to be stored in a highly secure place. You need to make that data accessible at a very high speed with a minimum of loss. Thus options such as cloud computing, trusted data centers or own database storage infrastructure must be explored. In all the cases data must be considered as a topmost priority and all the necessary arrangements must be made on a prior basis.
Formulate a task force to set up the pilot project
Once you are ready to assemble an experienced team and start with smaller pilot projects. Make sure that the team consists of people that know your business as well as people with expertise in advance technologies such as AI and ML. Put in all efforts to prepare the right quality of data that can get your job done easily and consistently. Taskforce may be required from time to time to manage and study the machine intelligence system once integrated.
All the steps can fast track your artificial intelligence implementation strategies. To digitally transform your business take out some time to study these technologies through popular courses such as Udacity and edX. Pioneers such as Elon Musk and Jeff Bezos believe that rightful investment in AI can significantly change the fortune of enterprises of all shapes and sizes. You can always meet experts and discuss the right mix of choices whether it is technology or human resources that are required to be made. If your AI implementation is taking much time just go through the advice and accelerate towards faster digital transformation
Shivam Chaudhary loves writing about digital tools and technologies. He is passionate about business strategies and public policies. He provides professional guidance for strengthening digital business architecture. He likes to play sports and tour places. He considers socializing as one of his best habits.