AI &Your Business

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Do you think AI (Artificial Intelligence) has any relevance for your business today or is it still a futuristic pipe dream of nightmarish proportions filled with robots? If so perhaps you should think again. AI of sorts is here now as represented by Siri, SEO, Google Translate etc.

But do you ever wonder if there are any AI products out there now that can solve real business problems that you have? e.g. to upgrade a Legacy system to the Cloud! Or do you still use your legacy system based on the philosophy that a) you don't have a choice or b) if it ain't broken don't fix it, despite the fact that it is a well documented potential security risk? Do you know what AI can do for your Marketing and Customer Services divisions? Cue Social Media Marketing, Data Analytics and Chatbots.

A recent survey published in the Harvard Business Review (HBR) showed that "AI adoption is in its infancy, with just 20% of our survey respondents using one or more AI technologies at scale or in a core part of their business". Yet interestingly it also showed that 41% of respondents were piloting AI, and furthermore "believe the hype that AI can potentially boost your top and bottom line. Thirty percent of early AI adopters in our survey — those using AI at scale or in core processes — say they’ve achieved revenue increases, leveraging AI in efforts to gain market share or expand their products and services. Furthermore, early AI adopters are 3.5 times more likely than others to say they expect to grow their profit margin by up to five points more than industry peers."

Clearly AI is about to take off in a big way in the coming 12-36 months so where does that leave you. HBR pointed out "successful AI adopters have strong executive leadership support for the new technology". So that is why we at Pivot Cloud Solutions are trying to bring CEO's up to speed.

 

 

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Wednesday, 14 November 2018
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