Artificial intelligence, without a doubt, offers exponential benefits to companies are more and more ventures are jumping on the bandwagon. In fact, a recent survey says 95 percent of 700 IT professionals believe that their organizations would gain from using AI not only in their daily operations but also in their products and services.
In addition to that, 88 percent of respondents said they want to use artificial intelligence as much as possible. These survey results are not surprising, given the mainstream popularity of AI products, such as facial recognition and other smart devices.
But before you decide to incorporate AI in your company, it’s crucial to know the importance of artificial intelligence and gauge which capabilities would benefit you the most.
Here are key factors to consider when trying to weigh what applications of artificial intelligence are the best for your company.
Data Challenges in Artificial Intelligence
AI adoption means dealing with the challenges of AI integration and tech upgrades. After all, the system must be AI-ready. However, this isn’t a walk in the park. In fact, a report by the International Data Corporation stated that one-third of enterprises’ AI lifecycle is spent on data prep and integration.
Prepping data is a challenge in itself, and the matter could get even more complex if a firm already has heavy data and analytics challenges even before starting AI. If such is the case, then the company would need to deal with layers and layers of issues. That being said, it’s crucial to tackle data present data issues at hand to have a clean slate once you bring in AI.
The Workforce
Some tend to think that AI aims to replace people. In fact, many sci-fi movies paint it to be one of the negative effects of artificial intelligence. However, it’s vital to note that AI requires a firm to have the right workforce to manage it. That said, AI generally doesn’t take jobs but elevates the quality of tasks. Instead, it allows humans to focus on more complex aspects of daily tasks.
Let’s put it this way: AI doesn’t merely make things easier for IT workers. Though it does so at a certain level, AI pushes the staff to avoid routine work and improve their skills in their field.
Security and Governance in Artificial Intelligence
For AI to be trustworthy, a firm should mitigate data bias. After all, AI will base its operation on what’s fed to it. That said, the firm must be responsible enough to ensure that its AI-led operations still abide by its ethical, business, and moral standards.
With AI being a new field, laws and governance related to it are yet to be standardized. But just because it’s a gray area doesn’t mean firms should take advantage for selfish gains. In contrast, leading firms should instead address AI ethical issues proactively at their own initiative.
Focus and Intention
If there’s anything you need to know about an AI project, it’s this – it won’t be an easy journey. In fact, you can’t treat it as just another box to tick on your list. That said, you can’t dive into it half-heartedly. Otherwise, you’ll only be wasting time, effort, and money.
To embed AI would mean being intentional enough to devote resources and manpower to AI. And to be frank about it, it doesn’t exactly come cheap. With a lot at stake, companies must have a razor-sharp focus to undertake the project. Everyone has to be on board, especially the c-suite executives. After all, it’s a big step, and the chief information officer – no matter how good they are – won’t be able to pull it off alone.
