Artificial intelligence (AI) is a buzzword in the digital world. It is believed to have the potential to make a transformation in any industry and offer a promising future for businesses with its learning algorithms. The global technology intelligence organization ABI Research predicts the number of businesses that will adopt AI worldwide will scale up to 900,000 this year, with a compound annual growth rate of 162%. This revolutionary technology helps improve customer decision management, forecasting, QA manufacturing and writing software code, increasing revenue with the data it generates every day.
Why Implementing AI Can Be Challenging
With its unprecedented capability to learn and comprehend, AI is disrupting the world at a speed never seen before. The results of a 2019 McKinsey survey reveal that the use of AI has increased about 25% every year in standard business processes with executives inferring its potential to reduce costs and boost revenues. But implementing AI in business operations can be tough due to the following factors:
The Costs Involved: AI implementation in businesses demands deployment of expensive and high-performance hardware and software. This has to be executed within a limited allocated budget. To implement AI algorithms at a reasonable cost, consider approaching AI solution providers who have the best expertise in this industry.
Small Datasets: AI business systems need to be programmed to manage enormous amounts of data. You can expect better outcomes with higher quality data. Often, it is difficult to interpret whether the data you have is structured or unstructured and compare it with your data model based on the customer information and onsite interactions.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/05/27/how-to-make-it-easier-to-implement-ai-in-your-business/?sh=13752215300e
Why Implementing AI Can Be Challenging
With its unprecedented capability to learn and comprehend, AI is disrupting the world at a speed never seen before. The results of a 2019 McKinsey survey reveal that the use of AI has increased about 25% every year in standard business processes with executives inferring its potential to reduce costs and boost revenues. But implementing AI in business operations can be tough due to the following factors:
The Costs Involved: AI implementation in businesses demands deployment of expensive and high-performance hardware and software. This has to be executed within a limited allocated budget. To implement AI algorithms at a reasonable cost, consider approaching AI solution providers who have the best expertise in this industry.
Small Datasets: AI business systems need to be programmed to manage enormous amounts of data. You can expect better outcomes with higher quality data. Often, it is difficult to interpret whether the data you have is structured or unstructured and compare it with your data model based on the customer information and onsite interactions.
Continue reading: https://www.forbes.com/sites/forbestechcouncil/2022/05/27/how-to-make-it-easier-to-implement-ai-in-your-business/?sh=13752215300e
