👩🏾💼| Management
AI: The Rise of the Next Core Business Asset
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Sep 12, 2023 01:01 PM
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AI-next-core-business-asset
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Public
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📱| Technology
🤖| AI/ML
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AI has the potential to become a core asset for businesses, similar to how websites are essential today. Companies like Spotify, Netflix, and Amazon have already harnessed AI to personalize experiences and improve decision-making. As over 50% of companies have adopted AI in some capacity, it is expected to become as ubiquitous as websites. AI integration can drive improved customer interactions, personalized content generation, and task automation. The vision is for AI to bolster profitability, customer satisfaction, operational efficiency, and strategic decision-making, providing a competitive advantage in the market.
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👩🏾💼| Management
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Oct 21, 2023 10:39 PM
How will AI Become a Core Asset for Businesses as Websites are Nowadays?The Current State of AI in BusinessThe Rise of AI IntegrationDriving AI AdoptionThe Vision: AI as a Core Business AssetTLDRReferencesDownload the full article here
How will AI Become a Core Asset for Businesses as Websites are Nowadays?
In the realm of modern business, websites have emerged as indispensable assets, transforming the way companies operate worldwide. Yet, there's a new technological frontier on the horizon, and its name is Artificial Intelligence (AI). This article delves into the potential of AI to become the cornerstone of business operations, much like websites are today.
The Current State of AI in Business
AI is already a formidable force reshaping the landscape of global commerce. Behemoths like Spotify, Netflix, and Amazon have harnessed AI's power to a profound extent. For instance, Spotify employs AI algorithms to discern individual preferences, curating personalized playlists and targeted ads (as highlighted in a recent Harvard Business Review article). Meanwhile, Netflix analyzes user viewing habits to suggest content, and Amazon uses AI to tailor product recommendations based on customer behaviour.
AI Augmentation Will Create $2.9 Trillion of Business Value in 2021 - Gartner
The Rise of AI Integration
Both established corporations and nimble startups are recognizing the transformative potential of AI, leading to its gradual integration into various business functions. A McKinsey survey reveals that over 50% of companies have adopted AI in at least one facet of their operations (McKinsey & Company, 2021). This trend hints at a future where AI may become as ubiquitous as websites are today.
Driving AI Adoption
Much like the widespread adoption of websites, several drivers are propelling AI into the business mainstream. These drivers include improved decision-making, enhanced customer interactions, personalized content generation, campaign optimization, and task automation (as reported by Longshot AI in 2021). The success stories of companies like Spotify and Netflix illustrate how strategic AI utilization can lead to highly targeted and satisfying customer experiences.
The Vision: AI as a Core Business Asset
The current role of AI in businesses mirrors the initial stages of website integration into commercial entities. It's entirely conceivable that AI could eventually evolve into a core asset for businesses, bolstering profitability, customer satisfaction, operational efficiency, and strategic decision-making. While AI is already prevalent in various business sectors, its role is set to expand even further. Drawing inspiration from the trajectory of website integration, the transformation of AI from a supplementary tool to a central asset appears not only likely but imminent.
TLDR
Though AI is still in its infancy as a core business asset, it's progressing rapidly along a trajectory reminiscent of websites. As AI integration matures and businesses grasp its potential, it will become a pivotal driver of business value, seamlessly woven into core business functions. Companies that effectively harness AI's capabilities will gain a substantial competitive advantage in their respective markets. In today's digital landscape, forward-thinking businesses should aim to align their strategies with the seamless integration of AI.
References
- Harvard Business Review. (2021). Getting AI to Scale.
- Longshot AI. (2021). AI Tools for Businesses.
- McKinsey & Company. (2021). Artificial Intelligence Survey.
Download the full article here
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