Artificial intelligence has taken center stage in corporate conversations for the last few years.  While some organizations are captivated by such potential, some approach AI with caution and focus on the need for clear ethical boundaries and guidelines.  Enterprise AI poses a familiar dilemma for executives: the age-old challenge of embracing new technology.  Embrace it too soon, and you expose yourself to the uncertainties, possibly leading to reputational and financial risks.  Embrace it too late, and you run the risk of overlooking the efficiency and cost-saving potentials that enterprise AI has to offer. 

As a forward-thinking team with expertise in enabling clients across industries with custom AI applications, we aim to guide leaders in understanding, developing, and adopting enterprise AI strategies and solutions.

What is Enterprise AI?

Enterprise AI, also referred to as Enterprise Artificial Intelligence, denotes the application of artificial intelligence (AI) technologies and techniques within large organizations or enterprises.  The objective of AI application is to improve multiple aspects of business operations, decision-making processes, and customer engagement.  This involves deploying AI tools, machine learning(ML) algorithms, natural language processing(NLP), and other related technologies to address specific business challenges and improve productivity, efficiency, and competitiveness.  

Taking the first step towards the AI journey is challenging for most corporate leaders.  Artificial intelligence will not achieve remarkable results independently; it will be about how it is used.

AI Adoption Strategy

Though 81% of IT leaders are already investing or considering investments in AI, merely 39% of IT organizations across the globe have formulated a tangible AI strategy.  Even though the latter are enthusiastic about adopting AI, they find it challenging to leverage these technologies.

Here are a few tips that can help:

Enterprise AI Adoption Strategy

Awareness and Understanding of AI: The first step for leaders is to enhance their awareness and knowledge about AI technologies and associated jargon.  An in-depth research will help gain a clear understanding of AI and its business cases.  This will assist in identifying possible AI applications that will drive business value to your enterprise.  It will also help determine options you cannot achieve with artificial intelligence.  

Identification and Analysis of Current Business Challenges: Many executives remain uncertain about business challenges that artificial intelligence can potentially address.  While they have acknowledged the importance of AI, senior executives are yet to determine its applicability to their organization.  Awareness about AI trends and solutions, and engaging in intensive brainstorming during broad meetings are critical steps to identify AI technologies that can add business value to the organization. 

Industry and Competitor Analysis: Another approach to incorporating AI into your business is to comprehensively analyze how various industries and competitors are adopting these emerging technologies.  This provides valuable insights into success rates, enabling you to avoid unsuccessful approaches. 

In-house AI development vs. Outsourcing to a Reliable Vendor: Presently, most companies lack the in-house expertise required to develop, implement, and manage AI technologies within their organizations.  A report by McKinsey suggests about 80% of all AI expertise has already been leveraged by global tech giants. 

According to Gartner, companies must evaluate whether to create in-house teams, outsource AI solutions, or build an extended team of AI experts with a reliable AI partner.  

Practical AI Solutions 

Now that we have explored different aspects of AI adoption strategy, let's look into some practical and widely embraced AI applications by enterprises.

AI Chatbots: Gartner reports that AI-backed chatbots will play a crucial role in customer engagement, both within enterprises and in B2B scenarios.  Beyond the application in customer service, AI-powered chatbots significantly enhance workplace productivity within organizations.  Accelerated development in Natural Language Processing (NLP) and machine learning has enabled chatbots to automate routine and labor-intensive organizational tasks. 

Some prominent use cases include an IT helpdesk or HR chat assistant that answers queries and supports internal employees, an intelligent sales assistant for faster decision-making, etc.  

The ease, convenience, and reduced security risks make it a preferable solution for organizations looking to leverage AI. 

Want to deploy AI-backed chatbots for your business?  Check out Medha K, our first non-human employee and knowledge assistant. 

Machine Learning: A branch of AI, machine learning, is driving much attention from enterprises.  Recent advancements in ML have given rise to numerous start-ups and platforms, providing enterprises with various capabilities.  These platforms assist data scientists in developing tailored algorithms, tools, applications, models, APIs, and more to enhance business efficiency. 

Predictive Analytics: Predictive analytics is another pivotal solution for companies looking to embrace artificial technologies.  Conventionally, analytics was the domain of data scientists alone.  Today, the landscape has evolved, and predictive analytics is intertwined with various facets of artificial intelligence, machine learning, and statistical modeling.  This is empowering leaders to make timely and accurate business decisions.

Predictive analytics tools seamlessly integrate with various enterprise applications and software, elevating business functionality.  

By harnessing next-gen predictive analytics, businesses can effortlessly access insights on future marketing trends, identify missed sales opportunities, and enhance sales forecasting, among other valuable information.

What are your views on Enterprise AI?  Have you formulated a strategic plan for your organization yet? 

Contact us to get started on your secured journey of AI adoption!