OK Google, “why do I need AI for my business?”

“Sorry, I don’t know how AI technology can help with that yet.”

Maybe Google’s virtual assistant can’t help you, but I can.

Does Enterprise need A.I to do business?

I do not use Siri on my iPhone, but my Google Home Mini got me thinking about artificial intelligence (AI). Google Home, Alexa, Cortana, and Siri – these virtual assistants are usually the average person’s experience with AI Virtual assistants do not process speech in the appliance or on your smartphone. All the processing takes place in data centers using high-performance servers equipped with multiple graphics processing units (GPUs). 

Your business can use AI technology for more than speech recognition. AI solutions are available for all industry verticals.

Three Requirements for AI

According to David Moschella, in his article Formula for Machine Intelligence Innovation, now is the time to start using AI due to

1. Availability of Big Data
2. Advances in software
3. Advances in hardware

1. Big Data

Software analytics company SAS defines Big Data as a “large volume of data – both structured and unstructured.” For AI to work, large databases are required. You may already have a number of databases: supplier lists, CRM, production line metrics, service call volumes, and so on that require storage servers.

2. Software

The city of Montreal was recently in the news as a world leader in AI research: “Google, Microsoft, Facebook and recently even the Royal Bank of Canada have announced millions of dollars in investment in artificial intelligence labs across Montreal, helping to make the city a world leader in machine-learning development.” If these recognizable names are investing in A.I., you should too.

Liam Hänel of Lyria, lists 3 principal categories of AI software for business

• Audio,
• Business Intelligence and Analytics, and
• Core AI

For example, companies like Sentient, use AI to personalize a customer’s shopping experience by analyzing the customer’s unique behavior. Digital Reasoning’s AI offering analyzes emails, chats, phone calls and other sources to identify opportunities to up-sell and cross-sell. Threat Metrix uses AI technology to reduce fraud and other threats by recognizing legitimate users in order to streamline the payments process.

3. Hardware

GPUs original intended use was to process graphics – think video games — as its name implies. Now, the CUDA programming platform from NVIDIA allows application developers to take advantage of the GPU’s capabilities.
You can build your own GPU server, or purchase servers pre-configured for your AI needs with solid state drives, RAM suited to your data set size, and multiple GPU cards to speed up model training.

Of course, you can also take advantage of outsourced AI service providers, or use any number of cloud-based storage and computing services that will increase productivity and operational efficiencies.

Make faster business decisions based on outputs from cognitive technologies thus avoiding mistakes and ‘human error’, provided if smart systems are set up properly.

“big data can be analyzed for insights that lead to better decisions and strategic business moves.”

Source: https://www.sas.com/en_us/insights/big-data/what-is-big-data.html

Using insight to predict customer preferences, offers them a better personalized experience.

Conclusion: There are AI solutions for your business

Would you like to:

• Make faster business decisions based on outputs from cognitive technologies?
• Use insight to predict customer preferences and offer them better, personalized experiences?
• Grow expertise by enabling analysis and offering intelligent advice and support?

Erik Brynjolfsson and Andrew McAfee in Harvard Business Review (2017) predict:
“AI is poised to have a transformational impact. […] The effects of AI will be magnified in the coming decade, as manufacturing, retailing, transportation, finance, health care, law, advertising, insurance, entertainment, education, and virtually every other industry transform their core processes and business models to take advantage of machine learning.”

Does enterprise need AI to do business? Yes!

Hypertec can help: get in touch with us.

This post is also available in: FR

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