Growing up in this day and age, most of us cannot even imagine what it would have been like without our computers, X-boxes, PS5, and so on. While children younger than us, growing up in an even more technologically advanced world, won’t be able to imagine a world without their first iPad or their first phones and countless other forms of technology. Yet, for most of our parents, even a computer was a luxury, a piece of equipment so advanced only libraries and big, fancy offices could afford to keep them.
Similarly, the Artificial Intelligence market is also growing and expanding. As of right now, it is primarily the big names, like Google, Amazon, Apple, etc. have been implementing AI solutions for many years and have successfully integrated it into their systems.
Mid-market companies struggle to implement AI solutions, simply because they do not have the kind of capital and initial expenditure available to make such an investment. But that doesn’t mean data companies and data scientists should not aim to make AI more accessible to medium-sized companies so that its benefits are spread out and can benefit the economy at large.
To do this, companies need to, first of all, understand what the role of AI and ML is and how it can benefit their efforts to maximize efficiency and savings, in areas such as scheduling, supply chain, or servicing customers better. It is often left to the CIO to prioritise projects that enable business decisions with better data usage, for its advantages to become mainstream to the extent that it can be used by specialists from different departments and not just data scientists. To achieve this, business professionals should work together with data scientists to make accessible data-driven solutions a reality.
An example of this can be seen in how the newer and more progressive businesses operate, where the market and business specialists use the power of data to assess the market and make decisions accordingly. Marketing teams use data to study the market, while business teams use data to design plans and customer service teams use all kinds of data available to them to provide a high-quality service that is only possible through the integration of AI.
We are striving to bring AI capabilities to the middle market, so contact us to find out more.