You must have heard it several times that Artificial Intelligence is the future of growth. You must have read pieces that talked about how AI is helping businesses in increasing their sales, taking their customer experience to another level, improving their marketing, and reducing their operating costs.
You decided to implement Artificial Intelligence in your business, but the results are far from expected. This is what might have gone wrong and what you can do about it.
You Don’t Understand What AI Can Do
Everyone is talking about AI, but there are very few people who know what AI can actually do for them. Most people think that if they throw a problem at AI, it will solve it for them – like it’s a magic box. But that’s not the truth. The truth is, AI can’t solve a problem for you – unless you clearly define the problem. Once you understand and define the problem you have to solve – you have to map out some use cases of how AI can help.
So, take the time to become familiar with how AI works so that you know what it can do for you; otherwise you will fall miserably. As every problem require a different approach and datasets to generate meaningful results.
Getting results from Artificial Intelligence should be easy. Knowing what you want from AI is where you want to spend your time.
You Try To Use AI Everywhere
While it’s true that AI can help you in improving every aspect of your business, but that doesn’t mean you should use artificial intelligence everywhere. Why? Because it’s is expensive and difficult to use AI. If you implement it everywhere, there are high chances that you will fall.
So what should you do? How to boost the odds for success?
Well, the answer is simple – you must learn to crawl before you can walk. So, start small. Once you’ve been able to deploy it successfully in one aspect of your business, add to it.
If you want to make Artificial Intelligence work for your business use it wisely – not liberally.
You Think AI Will Work On Its Own
Most businesses believe that AI is brilliant once implemented in any aspect of the business; it doesn’t need human intervention. But, the question is AI smart enough to operate without human supervision or intervention? Not yet! If you take the human out of the equation, you will not benefit from AI.
Use AI to automate your routine tasks and synthesize the data. This way you can get deeper, actionable insights more quickly and it will give your team the time to focus on strategy and drive business results that were not achievable otherwise.
Though it’s true that artificial intelligence-driven technology will evolve with time and will get smarter over time, but it will not replace people anytime soon.
You should not use AI to overtake humans – you should use it to take over certain tasks.
Your Business Doesn’t Have An AI Strategy
Most businesses have already jumped on the AI train, and those who haven’t will soon hop on it. But there are very few who have an AI strategy in place. According to research done by MIT Sloan Management Review, large businesses with more than 100,000 employees are most likely to have an AI strategy – but only 50% of them currently have one.
If you don’t have one in place, you won’t be able to harness the power of artificial intelligence. That’s why your business needs an AI strategy. Now the question is how to create AI strategy and what to include in it?
Here is an excellent article by Bernard Marr on the topic: How to develop an Artificial Intelligence Strategy: 9 things every business must include
AI is making big splashes in every aspect of the business – be it marketing, sales, or customer service. That’s the reason businesses are investing more and more on artificial intelligence. According to Forrester, investment in AI will increase more than 300% over the next year. But if you want your investment to generate returns avoid making these mistakes.