Despite the big hype, smaller, medium-size and sometimes even larger businesses are often unsure about where to begin: “How can we use artificial intelligence in our organization and what value can it bring?” This is the question that many company directors and company managers have asked themselves. Organizations are often not aware of the vast opportunities that they are already sitting on in terms of what is possible with their data, but they do know they need to get started with AI not to be left behind the competition.
While everyone talks about AI transforming vastly each industry in the near future, many businesses are not sure what exactly this can mean for their own organisation: What business processes could be automated? What processes could be made more efficient with AI, and where could a machine learning algorithm bring the most value?
So, why have some businesses not yet started using AI? Innovating with AI and machine learning requires access to highly skilled individuals. These are data scientists mastering not only statistics and data visualization, but also complex machine learning and AI methods. Machine learning engineers and AI architects are rare and harder to find, locating someone excellent is a lengthy process, and hiring them is costly. AI experts often have PhDs in an artificial intelligence field, and many are still doing research in the academic system, because AI is not a field you become expert in overnight.
Before we can solve the talent gap, we need to fill the knowledge gap. There are companies, such as Brainpool AI, which provide the experts but also help organisations understand how they can get started with AI, from data structuring and engineering, to identifying machine learning opportunities within the business. By working closely with the company’s in-house teams, Brainpool consultants perform analytics audits, figuring out what data is available and what data analytics has been done, how their data should be structured and merged, and help businesses understand what kind of questions can be answered with machine learning, and where they can bring the most value.
Say you are a retailer and want to know if you are offering the right kind of stock that makes your business run efficiently and profitable while offering product ranges that make your customers happy. You may be wondering whether the set of Mayonnaise brands you are offering is a satisfactory range to your customers but also cost-efficient.
Here are some examples of how AI can help us:
AI powered product selection – ensuring the consumer receives the most relevant choice of products based on their online behavior. We see Amazon getting quite good at this.
AI powered stock management – using AI to maximise customer satisfaction whilst in the same time optimizing stock management to ensure business runs efficiently
Personal health virtual assistant/healthcare bots - AI powered technology can help patients by suggesting what medication or attention is needed based on their described symptoms
Medical diagnostics - millions of tests are being carried out by hospitals today for various illnesses which are hard to detect. AI can enhance speed and accuracy of these tests
Fraud detection – AI can help companies in industries such as telecom or banking detect and prevent fraud with higher accuracy
The range of applications is huge, it would be hard to list them all. When thinking of getting started with AI, no matter what application or the industry you’re in, it is important to select the right tools that are suitable to the type of data and the problems you are tackling. AI frameworks such as TensorFlow, H2o, Caffe, PowerAI are some of them. You will also need advice on the libraries that your organisation should be using such as R, Matlab or Python. Artificial Intelligence and Machine Learning experts can help you select the right tools and deliver a portfolio of powerful machine learning solutions to choose from with a roadmap of how to get started.
The goal is to become self-sufficient and learn exactly what steps you need to take in order to be ready to start using AI within your business. If you are already using data science, you should get experts to evaluate whether the algorithms your company is using is really the state-of-the-art and the best you could be doing.
Don’t wait around, otherwise you’ll get left on the platform with your competitors moving away in a speeding train. Get expert advice from a company like Brainpool and get started with AI today.