It’s often difficult to comprehend how to get ahead of the competition – let alone adapt – when your business’ industry is constantly changing. Saying this, utilizing Enterprise AI can boost your business’ performance, quality, and position within the industry. However, if considering AI implementation, you must be serious from the beginning. Fewer than 1 in 3 businesses who pilot AI programs actually proceed to launching the technology; however, this is due to many reasons. Planning for the long-term and simply jumping in despite your lack of clarity can push your enterprise ahead of the game. It just takes a little planning.
If you believe AI isn’t right for your business, it’s time to reconsider. The majority of the top sectors consider AI pivotal to their achievements- including 70% of financial and insurance companies, 65% of retailers and technologists, and 55% of educators and manufacturers. Saying this, AI has been found to be professionally universal, applicable across many sectors: manufacturing, transportation, and even the supply chain and logistics. There are many different ways to utilize AI, making it an important part of technological advancement in any field.
More specifically, AI can enhance a business leader’s decision-making capabilities, help reduce waste, improve product quality, cement a business into their ever-changing market, lower energy costs, and meet rising demands. For example, AI can increase the time it takes for business leaders to come to conclusions on complicated decisions, while also strengthening the decision they make. AI can also increase production results, decrease overhead costs, and eliminate deadhead trips, wasted energy, excess expedites and inventory, and more. With this, 84% of the world’s business leaders consider AI to give them an advantage against their competition, strengthening the power of their business.
Moreover, many successful executives and business leaders have commented on their experiences with Enterprise AI. Paul Daughtery, Chief Technology and Innovation Officer says, “The playing field is poised to become a lot more competitive, and businesses that don’t deploy AI and data to help them innovate in everything they do will be at a disadvantage.”
In similar advice, Lee Blackstone (Founder of Blackstone+Cullen) noted, “You need to understand what you really need to automate and how it’s going to benefit you. How is AI going to change your business so that you can respond faster than your competitors?” Hence the reason getting started is the most important step in implementation.
No matter the industry, there’s a way to incorporate AI into your five-year strategy. It can be used to decrease production costs, reduce waste in shipping, make predictions about changing markets, and more. It can help many industries reduce energy costs and make better predictions about consumer behavior. It can take data and extrapolate the next steps in actionable ways that businesses can act upon.
Data is more important than ever, and Enterprise AI can enhance the way your business’ data is processed. The steps to incorporating and expanding AI into your business are simple. Read more information on Enterprise AI below.