Artificial intelligence continues to rapidly transform the way businesses operate. From customer service to marketing and operations, AI improves efficiency, makes better decisions, and personalises experiences.
There are challenges that businesses need to consider before successfully implementing it. Let’s check out the problems and solutions below!
Your team doesn’t understand the need for, or feels threatened by AI.
There are mixed views on AI, with some people seeing it as a helpful tool and others worrying about job security. When a business is successful, it’s natural to be hesitant to change anything. It’s a significant shift, especially for companies yet to become familiar with the technology.
It can be difficult to convince stakeholders to invest in AI, especially if the returns are only apparent after some time. AI is a long-term investment; it takes time to reap the rewards.
The solution lies in educating your team to show the benefits and how it will improve the business. Focus on the business value, such as improved efficiency, increased sales, or reduced costs.
Addressing job security concerns is paramount. This could involve retraining employees on new skills or creating roles focused on development and implementation of artificial intelligence.
Your company needs the appropriate data.
The first step is to identify the data you need for your AI project, which involves thinking about the problem you are trying to solve and the data types that would be most helpful. You can always partner with a data provider to help you get your needs.
Once you have identified the data you need, start collecting! Customer records, internal databases, and publicly available datasets are your go-to sources for this.
Once you have collected the data, you need to clean and prepare it for AI training, which involves removing errors, correcting inconsistencies, and formatting the data in a way that is compatible with your AI model.
Your company skill sets need to be improved.
Identify the skills you need for your AI project, which involves thinking about the specific tasks to be completed and the necessary skills to achieve them.
Once you have identified the skills required, you can upskill your existing workforce. If you cannot do this sufficiently, you may need to hire new talent with the skills necessary, which will become more challenging due to a high demand for these skills.
Your company needs help finding an appropriate use case.
Start brainstorming a list of potential use cases for AI in your company. This can be done by talking to employees from different departments and identifying areas where it could be used to improve efficiency, productivity, or decision-making.
Once you have a list of potential use cases, you need to evaluate them to identify the most promising ones. Consider factors such as the potential impact of AI, the feasibility of implementation, and the data availability.
Once you have evaluated your list, prioritise them. Consider all factors, such as the potential impacts, implementation feasibility, and the availability of resources.
Regulation can be a big hurdle.
Before implementing AI, businesses should conduct a regulatory assessment to identify potential risks through a team with expertise in it and regulatory compliance.
AI regulations are constantly evolving, so it is vital to stay up-to-date on the latest developments through industry publications, conferences, and following regulators on social media.
When designing artificial intelligence systems, businesses should consider the relevant regulations and create compliant plans, including policies and procedures for data collection, security, and use. Companies can also work with regulators to understand the regulatory environment and get feedback on their AI projects to avoid surprises.
Additional tips for overcoming AI implementation challenges:
- Start with a small pilot project and gradually scale up as you become more familiar with the landscape.
- Get buy-in from key stakeholders early in the implementation process to help ensure the project is well-supported and has the resources it needs to succeed.
- Measure your results to see the value it delivers to the business, which helps you build support for AI and secure future investments.
We hope these tips give you the confidence to start deploying AI in your firm despite the many obstacles. Contact The Oracle Tree team to see how AI can fit into your marketing strategy!
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