Just because you’re starting up a business doesn’t mean you’re an expert on AI and the sorts of solutions these systems can offer. While AI does stand for Artificial Intelligence, it’s not some sci-fi movie with sentient robots or anything overly complex.
We’re speaking here about AI in business, which provides startups with an edge in sourcing news, analytics, developing the best pricing strategy, focusing on the intelligence sector, and other crucial aspects of success.
The AI That Startups Need
AI technologies in a business context focus on digitally transforming startups and lifting them into the modern age with a competitive edge. Here are some of the AI options startups need to succeed.
This sort of AI is powered with machine learning and scans data at a much faster and more proficient rate than even an entire office building of human workers. Best of all, it can calculate said data and help draw workable conclusions from the analytics gathered. Ideal for the best pricing strategy, the best advertising strategy, or even judging the performance of your employees, this sort of AI system is a boon for any startup.
Much like the previous AI option, the functional option also scans data and performs analyses on a broad range of data sets. The difference in this type of AI, however, is that instead of simply pointing out X or Y to you, it’s actually actionable and will perform an action based on data analyzed. For instance, it can spot a faulty machine, virus code or hacking attempts, while being able to shut down and-or correct what’s not working correctly.
Communication and human interaction is a natural part of business, but also slow and costly for a lot of startups. This sort of AI system includes categories like personal assistants, chatbots, and more. So what you end up with is a pre-fab list of questions an AI can answer. You may have seen this used a lot recently, as many companies, from startups to successful corporations, use interactive AI in their support systems online to cut down on employee manpower while speeding up response time.
This sort of AI deals in speech-to-tech, machine translations, text recognition and more. However, it’s ideal for startups and not just large corporations because it will help streamline an internal knowledge base that can be employed not only in training new employees but also in helping walk customers through areas of your business from the website and landing pages to any sort of payment options.
Like the example above with the support, think about someone on the site searching for answers about banking options or return policies. Your FAQ becomes interactive and the person searching using the text AI has the benefit of what amounts to a sophisticated and streamlined keyword-based search engine on your site. This is a must-have for tech startups.
Last but certainly not least, visual AI will help any business identify, sort and convert objects. For example, a home insurer may want to know about the damage a natural disaster has caused to a home. Rather than spending more on employees to go assess the situation, a visual AI can read damage from photos and-or videos. Depending on what sort of startup you’re running, such an AI can definitely come in handy.
More sophisticated types of visual AI systems can take it a step beyond merely identifying things like damage and can also work with facial recognition. Or say your business deals in shipping products. Knowing the state of your products when coming off the line into shipping is an invaluable asset.
We want you to get the feel for what sorts of AI systems are available, as in the categories from which you can select. Inside of each category, you can find a lot of different systems. This isn’t about recommending any product to you; rather, it’s about helping you realize how beneficial these types of AI can be for your startup venture. Explore Applications of AI — Real Life Use Cases in Different Sectors