AI is not just some futuristic technology, it’s already here and being used by millions of people, both in business and in the home. We see AI in technology in our personal and professional lives every day, from chatbots on websites, to and virtual assistants such as Alexa and Cortana.
AI in business centers around analytics and business intelligence. It’s a set of technologies that enables computers to learn, reason and assist in decision-making. It’s about using computers to make connections using data generated by the business and then making predictions based on this. Often, the intelligence and analytics software are part of an organisation’s customer relationship management or CRM platform, allowing it to mine the incredible amounts of data generated.
According to research conducted by Microsoft into AI use in UK businesses, 51% of the employees and 41% of business leaders it interviewed say they are not currently using AI technologies at work. Plus, more than a third of leaders admit they are not focused on AI at all.
So, how do you make the benefits of AI a reality and how do you build a business case for it?
Microsoft found that organisations that are “already on the AI journey are outperforming other organisations by 5% on factors like productivity, performance and business outcomes”. Not only that, organisations that invest in establishing the right approach, “specifically by developing underlying values, ethics and processes, outperform those that are not by 9 per cent”.
And this is gap is only likely to get wider as the speed of the development of AI technology increases.
Clare Barclay, Chief Operating Officer of Microsoft UK, says: “In the current age of innovation and competitive advantage, there is a significant business improvement return that is available for companies if they look at how to invest in their business model and innovation.”
Forward-looking organisations are starting to incorporate AI into their businesses and those that don’t risk falling behind. It is not really a case of can you afford to invest in AI, but can you afford not to?
I’m sure you’ve heard the phrase ‘data is the new oil’? but it really is! Data is a powerful and valuable resource that fuels the use of AI in today’s digital world. AI will generate its algorithms from the data given, but it will not analyse the quality of the data in the first place. The key is to understand where your data is stored and think about what you want to achieve by using AI.
Microsoft Dynamics 365 Artificial Intelligence (AI) applications allow every department across an organisation to get the benefits of AI without needing a team of data scientists, a large IT organisation, or AI experts.
Join us at our AI Insights – Transforming the Way You Sell & Work event on Thursday 30th January 2020 at Flight Club, Manchester. Hear from our team as well as our guest speaker, Eleri Gibbon, on how you can use AI to drive immediate business value, improve customer, patient and student experience, and boost employee productivity. Book your place here.
Find out more about where Dynamics 365 could take your business here.