Seven Steps To Determine Whether AI Fits Into Your Business Workflow

Seven Steps To Determine Whether AI Fits Into Your Business Workflow

Seven Steps To Determine Whether AI Fits Into Your Business Workflow. To find out whether your business can benefit from AI. Read here Seven Steps To Determine Whether AI Fits Into Your Business Workflow.

By employing the right AI technology for your business, you can accelerate growth. But business leaders should not forcefully include AI in their operations; instead, they should find specific workflows in which AI can provide maximum value. For instance, if you are in a restaurant business, you might want to use AI to generate weekly analytics by processing electronic bills.

Many executives have a trust issue with up-and-coming technologies like AI regarding how they will fit into their business ecosystem. If you’re interested in adopting AI but aren’t sure whether or where it can fit into your business, below are steps to help kick-start the process of using it in your workflow.

Identify the areas of your business where AI can provide maximum value.

A business is a complex set of processes intertwined with one another that runs like a well-oiled machine, so integrating new technology into an existing workflow is not straightforward. Implementing AI comes at a cost, and thus, a value analysis is essential to make sure your investment gives you maximum return.

First, understand the need for AI in your business. For instance, Domino’s uses AI as part of its infrastructure to improve its pizza delivery. 

To find out whether your business can benefit from AI, ask yourself a few basic questions:

• On what scale is your business digitized? Digitization in business involves converting a raw form of data to a digital format. This can include images, numbers, etc. Digitization can help a business to scale. For instance, if a shopkeeper is selling garments locally, then the business’s reach is limited to a specific demographic. On the contrary, if the shopkeeper decided to digitize by building a website, the business could reach out to more people, sell more garments and expand. One example of the potential benefits of digitization is Target, which saw its stock rise 66% over its 8-year digital transformation efforts.

Digitization brings monetary benefits and helps track various critical areas of the business to reduce risks such as account settlement, finance management, inventory management, etc. One would require immense human resources to do all these tasks. 

AI is powerful when we provide it with the right amount of digitized data. The potential of AI lies in finding hidden patterns in data that are not obvious to a human. Hence, digitized data provides a vital role in transforming business using AI. If your company lacks digital data generation, it probably doesn’t require AI in the first place.

• What are the different forms of digital data that your company collects, and how do you store them? If AI is a car, then digital data is the fuel.

• For the investment of time and money required, would AI provide a better return over time?

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