There is an unimaginable amount of hype about AI solutions today. Businesses across different industries continue to adopt this technology to obtain a competitive edge over others, improve customer experience, and reduce operating costs. But does your Business really require an AI solution?
Some businesses have stated that Artificial Intelligence is nothing but a misuse of money and time. Also, some companies face specific obstacles to AI initiatives. Not all businesses are willing to make AI-solutions a part of their corporate strategy. Does AI suit your particular Business? To find the answer, we reviewed ONPASSIVE AI solutions business practices and signs of whether your company is ready to implement AI.
ONPASSIVE Artificial Intelligence for Business
Artificial Intelligence is a unique algorithm that enables virtual machines to learn automatically by identifying patterns in data and adapt the new knowledge to solve critical business issues. ONPASSIVE AI solutions include the following sub-fields:
Machine Learning implemented statistical analytics and neural networks to gain insights from data.
Natural Language Processing enables the machine to understand, analyze, and produce human language.
Deep Learning allows virtual machines with self-learning abilities and several layers of processing units. The algorithm develops self-learning abilities, applied to image and voice recognition.
Benefits of AI solutions for Business
Businesses that leverage AI for their operations mentioned the following improvements:
- 54% of business executives indicated that AI solutions enhance their business productivity
- 72% decision-makers said the usage of AI in their business helped the employees to focus on more essential tasks
- 59% of executives say that AI increases the utilization of big data
ONPASSIVE AI Solutions
You can apply the ONPASSIVE AI solutions for the following tasks:
- E-commerce recommendation engines.
- Provide better customer support.
- Detecting Fraud.
- Improve Data Security.
- Predict stock inventory supply.
- Lead scoring.
- Facilitating better management of financial resources.
Does My Business Really Need Artificial Intelligence?
The first point to have in mind is that not all businesses are ready to leverage AI. If you want to find out whether ONPASSIVE AI solutions suit your business or not, consider the following.
Well-established Data Collection
Artificial intelligence needs a vast amount of high-quality data collected in the right way. Furthermore, collecting high-quality data is a crucial struggle for all data scientists and AI specialists. In this case, it is not about the data accessible on the internet, but rather about data your company gathers.
But, there is no specific answer to how much data your AI solution will need. It depends on how complex is your business problem and the complexity of the AI platform you are going to develop.
Particular Business Problem to Solve
If you have managed the way your business gathers and stores data, the next step is to decide what you want from an AI algorithm. It means that you are required to determine what business problem you want AI algorithms to resolve. To give you a hint about the area you can improve with AI, we listed the three most popular AI usages.
- Bring value to existing products.
- Make data-driven business decisions.
- Automate business processes.
Culture of Innovations
The culture of your business also determines whether you are willing to execute AI or not. For example, industry leaders such as Spotify, Facebook, Netflix, and others that leverage AI, have a track record on new inventions. Hence, you need to value your data as a driver of changes.
- AI-friendly corporate strategy.
- The margin for error.
- Measurable results.
ONPASSIVE AI solutions is a great platform that can bring many benefits to the company.
Before considering AI solutions for business, you must consider the following:
- If your business generates very little data, AI is not your solution of choice. To learn, work accurately, and give you precious insights, AI needs a vast amount of data.
- Machine Learning and Artificial intelligence are not magic; hence, do not think these technologies will make your business earn more with a snap of your finger.
- To utilize AI to your business, you need to have structured data that precisely points out business difficulties and flexible corporate strategy.