WHY YOU NEED AI FOR YOUR BUSINESS

On the 23^rd of October 2017, Christine Boursin tweeted ‘#AI needs #Data, #BigData needs a #Strategy’. This article will define the term ‘AI’ and what benefits will it enable for a business if they use this new technology.

AI stands for Artificial Intelligence and it is where systems imitate intelligent human behaviour. This means that software can gather data to predict outcomes and create algorithms. Organisations today, face the issue of having too much data but have no way of organising and analysing it, without spending a lot of time and money. AI could be the answer.

Mike Quindazzi, a Business Development Leader and Management Consultant at PwC, stated that in 2017 ‘72 percent of business leaders believed AI to be a competitive advantage in the future’.

The Benefits

• AI will solve complex problems
• It will eradicate a large percentage of monotonous work, so employees will take part in more meaningful tasks
• Leisure time will be increased
• A business will improve their productivity drastically

The Drawbacks

• Implementing smart technology will cause job roles to no longer be needed

• A system can release all of a company’s information publicly
• A system can delete or lose all the data stored
• The fear that the machines will ‘take over’

Mike Quindazzi has highlighted some of the positive and negative attributes, and although they have both brought up valid points; embracing new technologies and taking part in Digital Transformation enables businesses to progress.

We are not quite in The Matrix just yet and the world hasn't been taken over by intelligent robots, however we are starting to see examples that resemble our greatest fears... For example, Facebook recently shut down their chatbots as they created their own language and began talking in code to each other. In addition to this there are also other examples, of bots that use techniques to write their own code, using techniques similar to humans. 

With all the new systems and technologies today, the best thing to do is create a strategy on how to implement and manage these.

The basic strategy that all businesses should employ, is changing the culture and the way you think. All employees, in every department, should understand the data being collected; collaboration should be encouraged as diversity between individuals brings all new perspectives and creativity/innovation in the workplace should be implemented.

If you want to stay competitive and expand your business, AI could be the tool for you.