AI can help businesses stay ahead of the curve


AI can help businesses stay ahead of the curve

Disruptive new-generation technologies are seen to have dramatically changed the way businesses run. Enterprises are considering realigning their strategies to retain their market position, and gain advantages through cutting-edge technologies like artificial intelligence (AI), robotics and IoT. Companies adopting the new-age exponential technologies earlier have a better chance of staying ahead of the curve and competition. With its potential to augment the capabilities of humans, and help businesses improve productivity, AI has the power to transform businesses across industries and sector.

AI AT THE CORE
In the wake of the fourth industrial revolution, artificial intelligence and automation are the new norm for today’s enterprise. What once was a competitive edge is now becoming a prerequisite for business growth, efficiency and productivity. It is no longer enough to just implement AI; it is about ensuring that AI is effectively integrated across all business platforms.
The focus needs to move away from what technologies are being offered and instead focus on how these technologies are impacting a company’s specific use-cases and enhancing their outcomes. The goal should be to build an AI-enabled organisation and not look at AI as an add-on.

Organisations should look at building a robust AI strategy to imbibe AI in the way they operate. Forrester reports that 40 “insight-driven companies” are going to grab $1.8 trillion by 2021. In this list we have young companies that are less than 8 years old.

What unifies them? Their obsession with data and AI. There are essentially two types of organisations with respect to AI adoption — first, the “talkers”: there are organisations wetting their feet with AI initiatives taking small risk-averse steps in organisational silos and in some cases getting tangled by bureaucracies; and a minority few unfortunately focusing more on press coverage than actual outcome. Then the “Do-ers”: These are the insights-driven companies, that have integrated or are on ..