As businesses across industries continue to react and adjust to life operating in the new normal, one highly prevalent trend has been the acceleration of digital transformation plans and the adoption of new technology. As consumers switched their focus to e-commerce, businesses in sectors such as retail and CPG have been forced to fast-forward their digital efforts, executing years’ worth of strategy in a matter of months, in a bid to steady the ship in this turbulent environment.
The enterprise artificial intelligence (AI) market was already maturing at a rapid pace, and this has been further accelerated by the pandemic as more businesses turn to their data in order to enhance their online offerings.
However, despite more organizations realizing the benefits of introducing AI into their decision-making, 34% claim that the biggest barrier to getting started with AI is exactly that: where to get started?
Many businesses will have a desire to introduce AI into their operations, but will assume it will be a very costly and time consuming process, with no guarantee of success or a tangible result at the end of it. However, this doesn’t have to be the case. As with all digital projects, setting an end goal and a target ROI before getting started with AI is very important. The technology has the potential to improve countless areas of a business, but you need to have a clear idea what you want to achieve in order to make a success of it.
Of course, one thing that you do have to get right when getting started with AI is ensuring that you choose the right partner. For the majority of businesses, in-house AI is very difficult to achieve; hiring data scientists – especially those with an eye for business outcomes – is a challenge, not to mention very expensive. Enterprise businesses also lack the space and infrastructure to build, train and deploy AI and machine learning algorithms at the scale and pace they need in order to achieve their goals.
Our Decision Intelligence systm, CODI, has been built to help businesses who are looking into getting started with AI, providing them with the ability to compete and succeed in the new era. To help further, we’ve pulled together a handy, high-level guide on some best practices and advice for how to get started with Decision Intelligence, outlining six top tips to help you take those important first steps on your journey to AI-powered decision making 👇