So you want to take over the world with robots? Maybe start your own Skynet or build a secret underground lair for producing them? Well you’re in luck, there have been significant advancements in artificial intelligence (AI) to make that a possibility. But to get to that point, you should probably build your business up first. AI can actually help do that too. In fact, artificial intelligence is said to contribute $15.7 trillion to the global economy by 2030. To put that in perspective, if all that money went to the US national debt right now (which is currently at $22 trillion) it would pay off 71% of it! Clearly, AI has the potential to contribute plenty to the business world, so how can you work it into your own business? We explore the details below . . .
Check Out Your Competitors’ Robots
Before you start buying AI programs left, right, and centre, do some market research for how other companies similar to yours are using it in their own business. Maybe there are simple solutions that don’t require AI or, on the flip side, are a great opportunity to automate processes and save time.
Check out other companies’ social media for news about how they are implementing artificial intelligence, and type searches like ‘how [company] is using AI’. You can also check on your supply chain and see if certain companies are using AI in a way you could also implement. Don’t forget about physical events or conferences in your region that could be a great opportunity to learn more about how to use and implement more automation.
Identify Which Problems You Want to Solve
Artificial intelligence doesn’t just exist in one form. As nice as it would be to plug an “AI Box” into your computer and let it do its thing, that’s not how it works. Instead, you need to build a giant mainframe computer, hook up a spider web of cables to that, give your AI a complex so it thinks it’s better than all human life, and . . . wait, sorry, that’s from a different manual. Ah, here it is!
You first need to look into which types of artificial intelligence would work best with your business. A few of the main ones include machine learning, deep learning, natural language processing, and cognitive computing. Each also has their own use cases, so look into the sort of tasks you’d like an AI to accomplish. You’ll also want to compare pros and cons of people accomplishing these tasks as opposed to a robot to see if taking the time to implement an automated system will actually save time in the long run. Some tasks are just better being accomplished by people (at least in the current state of automation tech).
Plan out how you’re going to implement these new changes as well. If you’re doing a large overhaul of key processes with automation, understand it likely won’t be up and running within a day. Set aside time to work on phasing out old systems and putting the new one in place, establishing who will manage it once it’s in place, and how it will be changing previous processes.
Ways to Use AI
Got all your robot ducks in a row? Great! Here are some of the best ways to make use of them:
Make Better Business Decisions
- It’s great to be given a lot of data about your customers, but it won’t do you much good if you don’t know what any of it actually means. Machine learning in particular is great for pulling out patterns from large amounts of info. This can be especially useful for product-based businesses to identify patterns in buying trends.
Improve Your Customer Service
- Chatbots or automated messaging systems are perfect for dealing with quick requests customers have about your business, products, or services. Many companies are implementing them on social media platforms, but they can also be integrated into your own website to answer questions as people browse your site.
Improve Equipment Maintenance and Safety
- While humans are great with dealing with issues when they come up, we’re less good at predicting the future. That’s where predictive AI comes in—the system is great for finding the optimal times to check in on machinery and equipment so that you’re able to have the lowest possible downtime (and avoid equipment or machinery failures).
Other great ways to use artificial intelligence include hiring employees, inventory management, preventing fraud and cybercrime, and self-driving cars. However, these aren’t the only ways. There likely will be plenty more coming in the future, so watch for news in the AI industry. Soon enough you’ll probably be able to take over the world, you just need to be patient for now.
