All big businesses are shifting their focus to Artificial Intelligence (AI) now more than ever. For the people in decision-making capacities in a company, it is important first to know whether AI is their need of the hour. Implementing AI in an organization involves huge costs and challenges that must be overcome to reap its benefits.
Automation, AI, Machine Learning – Knowing the difference
Almost every leap in technology these days is classified as AI. But not all technology is AI, and not all organisations are in need of implementing AI. An organisation may be efficiently run by concentrating on automation while another organisation may be benefiting from machine learning.
Automation is a way to reduce human effort in doing simple repetitive tasks through programmed inputs. For example, a packaging industry might need automation more than AI to improve their productivity.
Artificial Intelligence or AI refers to a problem-solving system that mimics human thinking and approaches problems just as the human mind would. An organisation that exploits customer service management, for example, may need to adopt AI in order to carry out conversations with customers and identifying issues from the pattern of data provided by customers.
Machine learning is a broader aspect of AI where algorithms are used by the system to continuously learn from data and inputs provided by users. This is largely being used by social networking websites and marketing companies to understand consumer needs and create targeted advertising.
So, it is important to understand your organisation’s needs before jumping onto the AI bandwagon just because every other company is doing so.
Risks with AI
Simply implementing AI in your organisation will not end all your problems. Before you take the big leap, the organisation and its people need to be ready for it. Ask yourself if the organisation is prepared for this huge investment of time and money. Most importantly, you need to make sure that your employees are well informed and trained to handle the new technology.
Then there are risks with the program itself. An AI system works on the basis of its training data – if the input data is biased, as a result of human error, the output of the AI system wouldn’t be reliable. The security of AI systems is another major concern as these systems are a target for hackers to extract sensitive information from the organisation’s database.
Taking all of this into account, it is evident that proper governance, control, and diligence is paramount in successfully implementing AI for the betterment of an organization.
If you would like to learn more about Artificial Intelligence and how it can be integrated with your business to improve your customer service operations, create new efficiencies and generate value and cost savings, contact us. We will guide you to the right solution for your company.