A Gartner study revealed that AI adoption among businesses grew by 270% in the past four years.
AI offers a wide range of benefits for enterprises. A recent survey state that:
- 79% of the businesses believe that AI makes their work easier and processes more efficient
- 75% of them believe that AI helps them to move to new ventures
- 72% of these organizations say that AI prepares their business for the future
- 59% of the enterprises that it helps them to use data for making more insightful decisions
Not just this, but AI also helps enterprises gain a competitive edge. No wonder businesses are quick to creating AI-based solutions. However, there is still a lack of understanding of what enterprise AI is and how it differs from other AI solutions (in other words, consumer AI).
Let’s clean the air as we discuss the same here.
What is Enterprise AI?
Enterprise AI is the ability to embed AI into key business processes while combining human capacities for learning, perception, and interaction at each level of complexity. This ultimately leads to improved resource optimization and introduces efficiency into the very core of an organization’s data strategy.
Enterprise AI is not just a trend or something that needs to be leveraged for a particular project or use case. Instead, it focuses on improving enterprise as a whole and successfully scale and employing data methodology at all the level of the company. This acts as a critical asset to the success of the future business, regardless of industry or size.
Investing to be an AI enterprise is required to build a foundation of a future where most of the brands that survive will leverage enterprise AI.
Why is Enterprise AI Preferred?
Enterprise AI has a lot in store for organizations. Boosting your processes at the core helps you make your processes smarter and helps you unleash the full potential of your business data. In addition to this, the popularity of AI-based technologies like computer vision, natural language processing (NLP), machine learning (ML), and deep learning help businesses create and leverage innovative AI algorithms in cloud-based investments.
The benefits of enterprise AI can be summarized as follows:
- Seamless communication and cost efficiency: Brands can leverage AI-based chatbots to automate their client communication and offer competent customer support combined with a personalized experience.
- Attract and retain customers: Automation garners vital insights into the respective customer journeys and tailors the marketing activities that attract more customers. These data-driven insights also foster decision-making processes that are customer-friendly and personalized, thereby helping boost customer loyalty.
- Streamlines hiring process: Automation can help you, suitable applicants from the pool of available options and target them according to their potential. They can also shortlist the profiles based on the traits of your current or expected employees and present them before you to make the process time-efficient. This also eliminates the chances of human biases that mainly affect the preliminary stage.
- Business forecasts: Lesser number of manual errors is one of the most appreciated benefits of enterprise AI. This is more crucial for the areas such as cash flow forecasting that are more prone to errors, and even a minute error can be a massive loss for businesses. However, with AI, you can get visibility on future finances and automate forecasting for accuracy.
- Tap into opportunities: AI paves the way for businesses to cut costs, generate new revenue streams, improve customer services, and boost process efficiency. By forecasting future demands with accuracy, businesses can strategize better and invest in creating services and products that cater to customer’s demands better.
How is Enterprise AI Different from Any Other AI Implementation?
Expertly serving the industries like e-Commerce, retail, social, and more, consumer AI is focused on driving customer experiences. Consumer AI interacts with customers to help the business scale and automate customer engagement. At the same time, with insights gained from this, organizations can gain insights to personalize their offerings, thereby impacting customer delight positively.
On the other hand, enterprise AI is more organizational-focused and strongly emphasizes creating tangible value for the brands. The results are deduced based on pre-decided KPIs and contribute to adding value over time. It requires professionals who are skilled, contrary to consumer AI where it is not a necessity. It is specified by industry-related drivers for use cases such as automated marketing budget, fraud detection, and deploying customer value prediction in sales. It uses supervised learning techniques in the development process.
Enterprise AI plays a significant role in creating and optimizing intelligent products and solutions, regardless of business size and industry.
Integrating enterprise AI helps organizations improve the efficiency of the manual processes to focus on bringing value to the business and offering core services. The successful implementation of AI into the workplace enables more efficiency and productivity, automates processes and customer communication alike. But more than that, it keeps the enterprises future-ready. Enterprises who wish to stay competitive and relevant in the innovative world need AI-fication as a strategic decision sooner.