A Framework for Companies Seeking to Invest in Artificial Intelligence

You can’t seem to get away from seeing tech headlines about how many companies want to adopt or use AI for their Business Intelligence applications and technologies. From a Forbes article titled ‘“Preparing Your Business For The Artificial Intelligence Revolution”  to a Martech advisor one called “How to Reshape Your Business Strategy Around AI.”

But how does a company plan and go about implementing Artificial Intelligence technologies into their business?  The first step is to figure out the reason for wanting to use AI in the first place. Digital organizations are beginning to experiment and incorporate different types of AI applications such as Artificial Neural Networks, or Machine Learning into their processes and products for tasks such as image recognition, NLP, sales forecasting, autonomous driving, robotics, patient data processing, fraud detection, personalized recommendations, and chatbots. Forbes contributor Terrence Mills, wrote an article called “Machine Learning vs Artificial Intelligence: how they are different” which provides good overview summary of the what each does.

MIT Sloan review discussed why AI implementation ischallenging.   The path to implementing AI can be a costly and a long-term investment.  It is not as easy as moving your business into the cloud or implementing a new Big Data Analytics tool. One of the main reasons that implementing AI can becost prohibitiveand complicated is due to the fact that every use case or application of it needs different algorithms and technology tools for it all to work within the system or processes to make it successful. There is no one size fits all AI algorithm.

If your company is one of the 84 percent that believe that investing AI will lead to competitive advantages and you are looking to explore your options for adopting cognitive technologies such as AI into your business, then here are a few tips:

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