How to Incorporate AI into Our Businesses

How to Incorporate AI into Our Businesses

Cognitive Artificial Intelligence (AI) has become the buzzword of today, with businesses eager to harness its power to improve their operations and attract more clients. Customer care and e-commerce are the first areas to be disrupted, as language processing bots handle interactions, and personalized recommendations become the norm. However, companies face challenges in leveraging AI, not due to economic reasons but organizational and cultural traits, along with legacy technological platforms. The question arises whether to build or buy AI solutions, with ROI serving as the compass for decision-making.

Technological advancements, such as Cloud Computing and Open Source solutions, have accelerated the pace of change. Companies willing to evolve their capabilities can leverage methodologies and platforms to create value faster and enable continuous improvement cycles. CEOs and CTOs now have a wide range of vendors and providers to choose from for AI solutions without the need to develop their own Cognitive AI engines.

AI can be applied through Machine Learning using existing company data or by adopting Generative AI products and services. Generative AI, as seen by GPT models like GPT-3 and GPT-4 from OpenAI, focuses on generating human-like text or creating new content. Satya Nadella, CEO of Microsoft, envisions AI as a “co-pilot” that enables people to achieve more with less, redefining work and fostering collaboration.

Sean Knapp identifies three phases of AI development and adoption. In Phase 1, AI enhances individual task performance, revolutionizing work practices. Phase 2 involves integrating AI into product capabilities to enhance functionality and user experience. Phase 3 will witness the emergence of pure-play AI companies, driving innovation at an unprecedented scale. While Phases 1 and 2 are underway, AI adoption still needs improvement, mainly concentrated among large, young firms.

It is clear that Cognitive AI has transformed various industries, and companies are grappling with the decision to build or buy AI solutions. The evolution of technology, the availability of vendors, and the rise of Generative AI present opportunities for businesses to leverage AI’s power. With Satya Nadella’s vision of AI as a co-pilot and Sean Knapp’s three phases of AI adoption, companies can navigate the AI landscape and strive to become AI-Native organizations, gaining a strategic advantage and driving innovation.

Tajma Brown

Posted by Tajma Brown on June 13, 2023