AI Accessible for all - Ignore at your peril!

The Future Economy Has Arrived

Yesterday we were told that tomorrow’s economy would look very different. Machines would empower and enable our thinking and that efficiency and value-based outcomes would be dependent on artificial intelligence and the capability of machines to think faster, quicker and more logically than the human mind.

Tomorrow has arrived, and AI solutions can’t be ignored as we see it in action in our day-to-day lives on Google, Amazon, Apple, Netflix, Spotify and countless other tech-enabled tools. The power of machines to deliver value, resource, scalability and profit in our new world has arrived, and the time to be cynical, fearful or even ambivalent has passed.

To succeed in 2019 and beyond, businesses of all sizes — from small SMEs to giant enterprises — need to engage with AI and embrace the power of machine learning as a tool that improves processes and products.

Why Businesses Must Embrace AI

As customer bases grow, so does the pressure on businesses to retain existing customers and compete for new ones. Knowing, understanding and being able to predict shifts in demand, productivity and market forces in real time — or even better, ahead of time — is now a reality with AI and machine learning.

To achieve that extra 10% uplift, every business needs to build and scale its system intelligence faster than competitors in order to add value to customers.

These advances are happening today. Over the last 12 months, we have seen a proliferation in business engagement and deployment of AI, to the point where it is now becoming a commoditised ingredient in all forms of technology.

AI Is No Longer Science Fiction

AI is no longer a green blob with superior brainpower stepping out of a flying saucer with a laser gun.

Today, AI simplifies business processes and is amplified by the speed at which businesses can build models and convert them into usable, shareable systems such as APIs. The power of machines, computers and the cloud in linking systems together facilitates far smoother integration — and this is driving the growth in AI usage.

Real-Time Intelligence Changes Everything

Real-time access to business intelligence through online dashboards, portals and platforms is also accelerating AI adoption. The ability to track and predict outcomes, success, failure, profit and loss ensures that the benefits of AI are instantly measurable.

None of this is entirely new, but it is now much easier to implement and therefore far more commonplace.

The Cost of Ignoring AI

You are probably thinking: “So what? What will adopting an AI and machine learning approach actually mean to my business? I already have systems in place that enable me to acquire and retain customers, prospect smartly for new ones and manage my business — I don’t need this.”

But the time for this type of thinking is over.

A lack of enthusiasm for AI adoption could result in lost business because your customers will evolve their service expectations based on experiences elsewhere, and your competitors will upgrade to meet these expectations. Ignoring AI is a recipe for disaster.

Real Business Results from AI

Since we started building AI-driven systems six years ago, we have seen the market change dramatically. Our customers and clients have achieved huge improvements in sales.

One client has experienced growth of three to four times in sales volumes, while many others have seen uplifts of 30% to 50%. This is because they focus attention on only the best leads and personalise their sales response based on business insight and AI.

They have a cost advantage over competitors and are far more efficient.

AI in Lending and Financial Services

The lending platforms we provide are also designed with proprietary Optalitix AI built into them. Our customers have grown in lending markets by using credit portals and systems that deliver rapid, AI-driven decisions.

AI Enhances People — It Doesn’t Replace Them

The introduction of AI does not mean people are no longer involved in the process. Of course people are still involved — they simply do the same jobs better and more efficiently.

This gives teams more time to develop business relationships, improve customer engagement and focus on strategic growth initiatives.

AI Is for Today, Not Tomorrow

Artificial Intelligence and Machine Learning are now easy to implement. The technology is available today — not tomorrow.

Gone are the days when AI was reserved for early adopters or brave technology-focused businesses. The adoption of AI and machine learning is now essential for any business that wants to compete in the modern world.

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