How to Improve my Business Through AI and Machine Learning October 23, 2017 Sakshi SharmaBusiness insightsLeave a Comment on How to Improve my Business Through AI and Machine Learning Running a business is hard work. The day starts with focus on expenses, expectations of orders, execution of responsibilities and oversight of employees. It’s easy to talk about the big picture and spectacular goals. But there is simply no time to work towards them. The economic climate, News – local and global, minor irritants, major problems in the making, all take up our attention. There is a solution though and it has the whole world excited about its possibilities. It’s also the only way forward – to survive, to profit and to grow. Its AI – Artificial Intelligence When you’re looking to grow your business, a focus on cost alone takes attention away from finding quality work. But at the same time costs matter. It has to be a fixed cost, it has to be within budget and it has to give returns. Your business needs to be learned, understood and examined. New technologies including Artificial Intelligence, Machine learning and Cognitive engineering combine the best solutions to enhance productivity and increase profits. Here are some ways in which AI can be implemented for your business and help drive growth and profits: Sales – Specific analysis and patterns can be found in the leads from your past conversions. These can be surmised in easy statements for your Sales reps to make informed decisions as to how best to follow-up on new leads, what to present and how to close. This works great for Medical care, Book keeping, Pet products, Marketing businesses and is a prime example of CBR – Case based reasoning. Customer needs – Using Forward Chaining, AI implementation can identify customer need patterns on your product or services For e.g Customers may prefer to have larger sizes or faster delivery. Customers in one location may prefer discounts over lots of different options. AI can help in identifying customer needs and your services or deliveries can be matched up to better address your customers needs. Think Flowershops, Handyman services, Investment services or manufacturers. Personalization – AI can help you in serving the right products to different demographics and geographies. So you provide Green tea to a client who prefers Green Tea and Coffee to those who prefer Coffee. AI will also help you identify seasonal trends so that you can track and store inventory. This is especially helpful for perishables or short life products like in the food, beverage and grocery businesses. This is implemented using Associative memories The best way to start, is to engage a company that specializes in implementing these processes for SMB – Small to medium sized businesses. This will involve software development. Go for the right skills, at the right price. You don’t want to end up with bad software, a delayed initiative, bugs or an expensive redo. SDI has over 10 years of experience working with SMB’s and starts by examining your current processes, specifying technology needs, identifying solution stacks and researching industry experience specific to your business. This is done by hiring a Software solutions architect at a fixed cost ranging from $4000 to $5500. This expert will identify how Machine learning and AI can be used in your business leading to a blueprint plan. The next step will involve hiring a dedicated programmer who works like your employee but in a different office and starts building specs or mods into your current business software or starts work on creating a new solution completely. Based on your business, budget and needs, the number of dedicated developers will vary. These costs can be phased in and tied to a projected ROI. Typically the whole process will run between $20000 – $40000 but the Returns typically are 5x within a year. Engage software teams like those at SDI, who can bring deep experience and understanding to your business requirements. The goals of software development with AI should be closely aligned with your business goals Also, emphasize more than normal on the security aspect of the software including the IP – Intellectual property being generated. This IP can lead to a Fortune down the road as it evolves into a big success. Seek technology experts like SDI with great culture and an innovative work environment. SDI had fostered its teams around innovation, communication and teamwork. Many companies have programming resources available in-house, but this doesn’t lend to integrating AI and Deep learning into your processes an automatic decision. In fact, many choose to sub-contract the AI parts to SDI where teams of experienced programmers work on web and mobile solutions for small business. SDI also assists in rapid deployment and on the go deployment to assist with the business workload. A plus for the outsourcing or mixed-sourcing of web and app development in AI is that you can tap into the skills which are missing from your current team. Most probably your business doesn’t really need someone full time in-house because it’s a fixed cost and limited in exposure. SDI has a team of over 200 programmers with different specializations. So the overall cost reduces considerably when you decide to hire a dedicated programmer or multiple programmers to work on implementing AI within your organization. AI will assist your business work smarter by automatically surfacing customer insights, predicting outcomes and recommend the next best actions. AI can also automate routine tasks. Contact us today on 4088022885 or 4086218481 to understand how AI – Artificial Intelligence can be leveraged for your business. You can also send an email to us at email@example.com and we will respond quickly.