Artificial Intelligence is here for one thing: to move the world forward using technology. Like the introduction of the internet and computers, it will take over jobs, but it will also create opportunities for new jobs and redefine existing ones. The idea that work needs to be labour intensive, demand immense creativity, and require various levels of collaboration is challenged at the sight of AI.

Again, as everyone knows by now, this is a tool— a series of tools— that will change the way people approach their work in ways we cannot fully predict. What can be predicted is that machines will execute tasks based on what they’ve been told to do and will continue to learn and adapt based on the data and feedback they receive. When it comes to running a business, it’s critical to find ways to incorporate this now as it truly is a matter of staying up or going way under.

Data Management

The foundation and overall value of AI tools come down to their ability to manipulate and manage data. With businesses re-evaluating their strategies and looking for opportunities to incorporate AI solutions - the most important aspect to consider is how these tools can handle their organization's information. First, let’s gain some perspective on the level of data that needs to be managed. 

The average enterprise manages about 10 Petabytes of data - for reference, 1 Petabyte is equal to 20 million large filing cabinets or even 500 billion pages of standard print text. Now, something this data-intensive won’t be managed by Chat GPT 3000 words at a time. What will happen is a robust system will be built that is not only efficient but can handle data at scale, at any level of complexity, and that can collect, process, store, analyze, and retrieve data within seconds. 

The Data Life Cycle

Data management involves several stages, including data acquisition, data integration, data quality, data governance, and data lifecycle management. What’s important to know as a business shaking in its boots trying to strategize using AI and Machine Learning is that implementing these solutions demands a coordinated approach. 

What that means is that stakeholders need to work together to establish clear goals, clear objectives, and be open to new ways of working with AI and Machine Learning solutions (some businesses still resist change even when seeking advice).

Key stakeholders vary but generally, when it comes to enterprises, the ones who need to collaborate cross-functionally include IT, data science, operations managers, and legal.

This is all great to know but it doesn't do much in terms of specificity, so with that said, here are a few additional considerations for businesses looking to implement AI and Machine Learning:

Skill Set: Implementing AI and Machine Learning solutions requires skill sets that may not be available in-house. Businesses in this case will need to invest in training or hiring data scientists, AI engineers, or various other professionals. Outsourcing is a great option in this case as it provides access to the required expertise that can not only build the solution but identify gaps to fill with it and then maintain the solution over time. 

Data Preparation: Before implementing AI and Machine Learning solutions, businesses need to prepare their data for analysis. This will involve cleaning and processing data, as well as transforming data into a format that can easily be read by AI tools. Labeling all data when training Machine Learning models is very useful in this case.

As you can see, it’s not an easy “one-and-done” task and it can actually be very time-consuming. Data preparation is one of the most complex but also most important parts of AI and ML model integration.

Iterative Process: Implementing AI and Machine Learning solutions, at this moment in time, is an iterative process, meaning it requires ongoing testing, validation, and refinement. Businesses must be prepared to adapt and adjust their strategies based on the insights generated by these AI tools (going back to the point about embracing change).

When AI and Machine Learning Meet Your Business

The AI tools that we are currently aware of and using such as Chat GPT, Jasper AI, MidJourney, and anything of the sort are mere droplets compared to the ocean of capabilities that Artificial Intelligence and Machine Learning technology will have to offer. 

No matter what industry you’re in, you’d be surprised at the amount of untapped potential in your business that a team of AI consultants can uncover to not only save time and money but also improve the overall efficiency of your business and the effectiveness of your workflows.

This is a lot to take in and, frankly, it’s a little overwhelming. But the truth is, AI and Machine Learning are not going anywhere. They are here to stay and will continue to shape the way we work, live, and interact with the world around us. With that said, here are 3 digestible takeaways from this for you to consider when re-evaluating how your business can strategize using AI and Machine Learning:

Data management is key: The effectiveness of AI and Machine Learning tools is only as good as the data they are given. By investing in efficient and effective data management systems, businesses will be able to leverage the full potential of these technologies.

Embrace change: It’s essential to adapt and adjust strategies based on the insights generated by AI and ML tools. Businesses must be open to change and be willing to work collaboratively across departments to make this happen.

Invest in expertise: Implementing AI and Machine Learning solutions requires expertise. Businesses need to be prepared to invest in training or hiring experts with expertise in AI integration or consider outsourcing to access it instantly.

The Takeaway

Avoiding the inevitable hammer coming down on companies who fail to integrate AI starts with assessing vulnerabilities. Of course, businesses never want to admit their flaws or focus on weaknesses because that would take away from the feeling that everything is going well. However, if that’s the mentality companies have throughout the next 5 years, their window for enjoyment will be very small. Now is the time to step into the future.

Written By Ben Brown

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ISU Corp is an award-winning software development company, with over 17 years of experience in multiple industries, providing cost-effective custom software development, technology management, and IT outsourcing.

Our unique owners’ mindset reduces development costs and fast-tracks timelines. We help craft the specifications of your project based on your company's needs, to produce the best ROI. Find out why startups, all the way to Fortune 500 companies like General Electric, Heinz, and many others have trusted us with their projects. Contact us here.