Don't run or hide, 3 ways to leverage AI
Some people consider automation and artificial intelligence (AI) to be one and the same. However, the important difference to note is that automations are based on rules that we program into the system and are not able to make improvements without the addition of more rules. AI is much more sophisticated and is able to make improvements independently by learning (aka machine learning) the patterns of what we do with our automations and predicting the logical next steps.
This may be conjuring mental images of evil robot overlords and causing you some fear and trepidation; but there is much more to welcome than to fear with AI. In fact AI is already hard at work making things easier and better for all of us in our everyday lives. Small conveniences like predictive texting on our cell phones, advanced warning of upcoming earthquakes, even life-saving medical advances. Such as IBM’s Watson AI technology that can “read” and digest millions of medical journal articles and generate a suggested treatment plan that is most likely to give a favorable outcome based on the specific parameters of the patient’s case and the very latest research findings.
The implications of AI for business owners should not be underestimated. As these new technologies come to market, you can bet that forward thinking leaders in your industry will be incorporating AI in their businesses to improve efficiency, reduce processing time, and eliminate human error with the ultimate goal of improving profitability and reducing their price point in order to crush their competition. We believe that those who do not embrace AI technology will soon find their businesses left behind and possibly even obsolete. All available data and projections seem to indicate that AI waits for no man. According to Tractica, AI market revenues have tripled from 2016 to 2018 and this exponential growth is predicted to continue for the foreseeable future.
MSYS is committed to being an early adopter of emerging AI technology and to being a resource for our clients who also wish to step bravely into the future. So, what can you do today to prepare your business for the future and begin to incorporate AI?
Here are our top 3 tips:
Examine your current workflows to identify areas of inefficiency that AI could improve
Build your new workflow processes with future AI incorporation in mind
Avoid significant software purchases that have a long ROI timeline, technology is changing too fast to tie yourself down to something that may be obsolete in a few months