“Accelerating progress in AI and automation is creating opportunities for businesses, the economy, and society”
McKinsey Executive Brief, June 2018
Technology is evolving at an incredibly rapid pace, but is your business evolving with it? Or is it just stagnating because there is a lack of technological infrastructure hampering your growth? If you are not sure about the answer, then it means you need to start thinking about what the future of your business holds both in the long-term, and the short-term.
It might sound dramatic, but it is true. A business is only as successful as the technologies and systems it has in place, and without optimization, there cannot be any real growth. With new systems coming into the fold, the only way to stay competitive is to adopt them faster than other businesses in your industry.
The investment you need to look into first? Artificial intelligence, no question. Predicted to be the biggest asset for business, artificial intelligence has the capability to transform, automate, and progress your business — all in one go. It might sound unbelievable, but it is true. With the combination of machine learning and predictive analytics, artificial intelligence enables you to use your data in a meaningful way and it constantly learns from it, thereby creating a tailored picture of your business, rather than giving you generic information.
McKinsey’s latest insights on artificial intelligence touch upon this, stating that AI has enormous potential to create value for businesses through personalized product recommendations, identifying weak spots in operations, and even identifying fraudulent transactions — just to name a few!
Keep in mind that we are only seeing the beginning of what artificial intelligence is capable of. As it continues to grow, the potential for businesses to drive long-term value for their business is too large to be ignored. Investing in it early on ensures that you are ahead of the curve, and that your business is prepared to drive long-term success for itself.