How long would it take to put AI into your business?
You could benefit from AI in less than a month.
If this seems impossible, then think again. The key is to take a laser focus approach on a very specific area of your business. Start small and grow from there.
Look for micro impacts like:
- Customer retention
- Sales cross sell/upsell
- Inventory management
- Cost efficiencies
Don’t try and boil the ocean!
Get organised and get help.
Meet with your key stakeholders and decision makers to flesh out the most important risks and challenges the business is facing. Form a clear picture of pain points and opportunities then assess produce a value proposition, a hypothesis.
Growth hack your way to success
Create a series of concepts or prototypes to show the possibilities in achieving the desired goals. This provides a tangible indication of the proposed final outcome and the impact it will achieve. Remember, this is data science, so expect to fail the first time or even the second time.
Aim to find the value in your data by proving your hunch (hypothesis).
The value is in the process you take, so take a structured approach. The process will also tell you what won’t work and where you’ll need help from outside. Don’t be afraid to seek expert advice to help get you over the occasional hurdle.
Remember, while AI is the talk of town, very few companies are actually using it. This means if you’re reading this and eagerly waiting to get started, you are in the minority.
Powerful results get the attention of the business
Take the value from the prototype phase and transform it into something more productionised that will consistently provide a stable outcome that persists. Show that you can provide real, ongoing value to your business, and you’ll get people’s attention.
THAT’s the stage you need to get to before you can really roll your sleeves up. This is the time to build your team, so they have the tools and capabilities necessary for in-house maintenance, and layout your roadmap for version 2.0 and beyond.
Once you have proven that AI can provide real value to your business just by leveraging the organisation’s data, then you can step things up. You’ll discover that more stakeholders will be interested in the idea now, and the conversation around the boardroom will start to evolve.
Get involved and pose the questions that these guys aren’t quite able to articulate. AI is such a powerful approach that it takes an out of the ordinary mindset to appreciate what’s possible. So lead them through the process and encourage them to discard the old(er) ways of thinking and replace that with a more open approach.