3 Top Tips to Help SMBs Succeed in the AI Space
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Three things are certain in life: death, taxes, and artificial intelligence (AI). Not only is AI significantly less depressing than the other two, it has also produced a number of business innovations and is becoming more affordable as a mass solution. In the startup arena, AI has helped predict trends in Covid variants, power military tools, and prevent physician burnout.
Beyond the "sexiest" applications of AI, the technology has exploded in an area that literally drives everyday life: logistics. Here, AI has optimized delivery routes, reduced last-mile delivery times, strengthened sustainable measures and reduced operational costs. I know this firsthand because I designed the AI for my logistics startup, having originally created an algorithm for my master's thesis that planned routes for firefighters. This algorithm has saved 1,400 lives and reduced the time of arrival in some of the most congested cities in the world by 40%.
The benefits of AI are undeniable. However, companies are often hesitant to fully commit to it because they believe it is too complex or expensive to integrate. Of course, given today's volatile market, businesses need to be more efficient, but it's still possible to embrace AI and not send shockwaves through your accounting department. With that in mind, here are my tips for small and medium-sized enterprises (SMBs) hoping to walk their last mile in the world of AI and settle there for the long haul.
SMB: Make sure your foundations are AI-readyIt sounds obvious, but every business must first identify that they have a real need for AI before firmly integrating it into their model. In the last mile, this means considering whether your customers want personalized delivery – for example, whether they want to be able to select the times they receive goods – or whether they settle for more standardized processes. If there is no nuanced delivery demand, AI may not be the right path for you, as the specialty of AI is its ability to respond to multiple varied outcomes. /p> Event
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Register nowNext, look at your customers' behaviors and expectations. Do they change daily or are they generally consistent? If their preferences are fixed (for example, when and how they receive deliveries remain the same), AI will not be as beneficial to your business. AI is valuable in detecting and understanding patterns in datasets, so if you already have a clear understanding of your customers, AI won't be able to tell you anything new.
For the final step of meaning checking, turn to your existing technology. If you don't have intelligence software in place to start with, moving to AI could get you in trouble. Ideally, you need automated and intelligent processes to be able to develop them using AI. Remember that AI is not the end result, it should be an accelerator among your pre-honed practices.
Most SMBs will choose to leverage AI through third-party tools, which makes sense because building your own AI from scratch essentially means becoming a software company. That said, even if you're leveraging other people's AI, you'll need to build a team to manage the technology - i.e. data scientists, people who know what to do with the AI output, how measure it and how to assimilate it seamlessly into workflows. . The more technology-oriented your team is, the faster and more seamlessly you'll be able to integrate AI.
Create a toolbox to cultivate your AIAI is...
Check out the on-demand sessions from the Low-Code/No-Code Summit to learn how to successfully innovate and gain efficiencies by improving and scaling citizen developers. Watch now.
Three things are certain in life: death, taxes, and artificial intelligence (AI). Not only is AI significantly less depressing than the other two, it has also produced a number of business innovations and is becoming more affordable as a mass solution. In the startup arena, AI has helped predict trends in Covid variants, power military tools, and prevent physician burnout.
Beyond the "sexiest" applications of AI, the technology has exploded in an area that literally drives everyday life: logistics. Here, AI has optimized delivery routes, reduced last-mile delivery times, strengthened sustainable measures and reduced operational costs. I know this firsthand because I designed the AI for my logistics startup, having originally created an algorithm for my master's thesis that planned routes for firefighters. This algorithm has saved 1,400 lives and reduced the time of arrival in some of the most congested cities in the world by 40%.
The benefits of AI are undeniable. However, companies are often hesitant to fully commit to it because they believe it is too complex or expensive to integrate. Of course, given today's volatile market, businesses need to be more efficient, but it's still possible to embrace AI and not send shockwaves through your accounting department. With that in mind, here are my tips for small and medium-sized enterprises (SMBs) hoping to walk their last mile in the world of AI and settle there for the long haul.
SMB: Make sure your foundations are AI-readyIt sounds obvious, but every business must first identify that they have a real need for AI before firmly integrating it into their model. In the last mile, this means considering whether your customers want personalized delivery – for example, whether they want to be able to select the times they receive goods – or whether they settle for more standardized processes. If there is no nuanced delivery demand, AI may not be the right path for you, as the specialty of AI is its ability to respond to multiple varied outcomes. /p> Event
Smart Security Summit
Learn about the essential role of AI and ML in cybersecurity and industry-specific case studies on December 8. Sign up for your free pass today.
Register nowNext, look at your customers' behaviors and expectations. Do they change daily or are they generally consistent? If their preferences are fixed (for example, when and how they receive deliveries remain the same), AI will not be as beneficial to your business. AI is valuable in detecting and understanding patterns in datasets, so if you already have a clear understanding of your customers, AI won't be able to tell you anything new.
For the final step of meaning checking, turn to your existing technology. If you don't have intelligence software in place to start with, moving to AI could get you in trouble. Ideally, you need automated and intelligent processes to be able to develop them using AI. Remember that AI is not the end result, it should be an accelerator among your pre-honed practices.
Most SMBs will choose to leverage AI through third-party tools, which makes sense because building your own AI from scratch essentially means becoming a software company. That said, even if you're leveraging other people's AI, you'll need to build a team to manage the technology - i.e. data scientists, people who know what to do with the AI output, how measure it and how to assimilate it seamlessly into workflows. . The more technology-oriented your team is, the faster and more seamlessly you'll be able to integrate AI.
Create a toolbox to cultivate your AIAI is...
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