Remember the days when you waited long for your phone to recognize your voice correctly. AI have traveled a long way since then and has evolved to become your perfect virtual companion.
Good news for the startups is that Venture Capitalists are inclined towards investing in AI. The potential in AI is not hidden from the world now. Virtual assistants, humanoids, AI enabled enterprise and mobile apps have augmented our world and have given it a tech edge.
There are more than 2 Billion smartphone users in the world, and an average American has at least 10 hours of screen time every day, hence the quantum of data generated is tremendous.
To process this much data we need machines which can easily glean meaningful information from this big chunk of data. Startups which are AI based are able to easily source funds because the world needs human intelligence on automation in all ways possible.
Now the question is ‘how do you propose to bring AI in your business environment’. To address this we have a takeaway tip sheet for you.
1. Examine Existing Processes
Examine your existing business processes and identify how you can augment them with AI and you can add value to your business.
It is easy to fall into the hype of AI but understanding it before fixing an R&D budget is very crucial. Take baby steps by organizing all your business data in a way that it will be digestible for an AI-powered tool. Experts suggest that data of ad campaigns, CRM platforms, social media campaigns, on site traffic analytics, and email lists can be used to build a database that can be processed by intelligent tools when you decide to bring AI in your business ecosystem.
The other popular way to introduce AI in your business ecosystem is experimenting with various offerings of AI. Few influential leaders believe that trial and error is a very crucial stage for startups who are planning to integrate AI in their organizations. It is recommended for startups to run different combinations of data infrastructures, mentors, and human resources to chalk out the ways in which AI can’t be integrated and then work only on possible combinations.
If you are concerned about your budget for these experiments, don’t worry! There are dozens of free AI tools available on the internet. Amazon, Google, and Microsoft are constantly floating platforms and frameworks which will help small businesses to develop AI-powered platforms.
3. Invest in Personal and Team Education
It is the utter requirement for your human resources to get well-versed with the tech world. This means that you need to continuously educate your team. Such educational material is mostly available online via pro-AI courses, workshops, seminars, and webinars.
Few free online training and learning programs are enlisted here:
- Columbia University
- Coinzy (Bitcoin)
Smart investors can tell the difference between a rock solid startup and the one which is oversold by media. Your startup needs to qualify and pass that test to attract equity investors and survive in long term.
AI is already shaping industries, and its influence will only continue to grow. Incorporating AI in many ways seems like it is out of reach of a small startup, but the treasure of enormous potential that AI can help innovative startups to command the attention of biggies investors.
In a nutshell, it is essential for a startup to keep an eye on the latest developments in the field of AI. From cryptocurrencies to smart chatbots to predictive analysis AI is holding its wing up high in the sky.
And you can turn it into your favor with the right moves by opting for artificial intelligence app development. For an instant quote from best mobile app developers for startups, click here.