AI in Business – Benefits and challenges

Artificial intelligence is becoming increasingly prominent every year, even in business. AI not only automates processes and speeds up data analysis but also opens doors to innovative solutions. We will look at how AI can be used in business and what challenges companies must face to fully enjoy the opportunities that artificial intelligence offers.

Want to implement AI-based solutions in your organization? Do it wisely.

The most important thing is to ensure appropriate standardization when it comes to data acquisition and storage in the company. Very often, companies start implementing AI solutions but forget about the proper preparation of data. Yes, many companies have their databases, various Excel sheets where they store all kinds of information, but in a – let’s say – non-standard way. Company data is not systematic, it’s hard to link it together, and there is no proper linking. This makes it extremely difficult to implement any software that is supposed to learn or infer from this data. Therefore, you need to start by organizing the data.

It is also worth considering whether the data the company has is recorded with the right resolution. For example, continuous recording (e.g., cycle time on each production machine) is different from isolated information, such as the average cycle time over an eight-hour period. Let’s say, in the first case, we have a resolution every few seconds. This way, we get thousands, even tens of thousands of new data every day, which allows for precise AI learning. In the second case, the information is less accurate and harder for AI to analyze.

I think this example perfectly illustrates how important it is to work on resolution and revise the data (it is worth considering how all this business information can be given the right context). And the last thing: unifying data storage and expanding systems. Here you need to consider whether you want to have one central place for storing data, one central file server.

One of the most important challenges related to the implementation of AI in a company is the issue of authorship and intellectual property of works created by AI, especially in the B2B context.

Let’s imagine we have a company that employs several employees who create certain works for it. In such a case, these individuals employed by the organization are the authors, and the company itself owns these works. In B2B companies, ethical issues are less problematic because one can essentially talk about a joint work. Why? Artificial intelligence does not create anything new, but it provides faster access to information, thanks to which employees can create various works, such as reports and analyses.

Although in the B2B model ethical issues are not as significant, they cannot be neglected, and it is worth for management bodies to take care of appropriate legislation.

Artificial intelligence, with its advanced algorithms, opens up new possibilities for predicting how consumer preferences will change. Let’s take a closer look at how AI helps companies better adapt to a changing market and make more accurate decisions.

AI has applications in many areas of business, including e-commerce, a type of sales where AI can analyze user behavior on a website or online store, then suggest which behaviors to use or which products to promote, moving them to the forefront to make them more visible to users looking for them.

AI tools can help you tailor your offer to the needs of your potential customers. How? Based on the behavior of a specific user and their movement on the website, artificial intelligence can infer what products this person is looking for and what products may be of interest to them.

AI can support your business not only in the purchasing sphere but also in the analysis of all kinds of financial, accounting, and business data. Based on company information, it can show you the areas of your business that require improvement. What’s more – based on historical data, it can suggest ready-made scenarios to help you solve various problems.

Many entrepreneurs would like to know the future, to know future market trends, and thus chart a course for success. You too? I have good news: now, thanks to AI, it is possible. For this to succeed, you need to ensure access to a broad market, i.e., a broad database and gather accurate information about how your organization operates. Such a data set will allow artificial intelligence to draw certain conclusions and chart the development directions of your company. Chat GPT alone does not have access to detailed information about how your company operates. It only knows what you “upload” to the network. Only AI, thanks to the combination of this internal company database with internet information, can tell you a lot about the development path of your company.

The use of AI in business may raise some concerns, but believe me: it’s worth overcoming them and properly preparing for the implementation of AI-based solutions to better manage your business and develop it. Don’t let the influx of data overwhelm you with its volume. Use AI solutions, and the enormous amount of information will not be something overwhelming, but something beneficial, allowing you to see certain patterns, make more accurate decisions, and stay ahead of the competition.

And if you’re looking for support in the automation and systematization of data in a production facility, feel free to contact us.