By now, you must have heard of Artificial Intelligence (AI) unless you are living under a rock. Over the past few years, AI has gone by different names. It was formally called Big Data, later Machine Learning and now Artificial Intelligence. These names can still be used interchangeably though. As a startup why should you concern yourself with AI?
Understanding Artificial Intelligence
Artificial Intelligence is the ability of computers to perform certain tasks without the help of humans. Most of the times, the computer learns over time on how to provide solutions to problems that it is faced with.
Although it might appear fancy, AI is something that has been incorporated into our everyday lives. Netflix recommendations, Google Ads all make use of AI. More and more devices like mobile phones, washing machines and refrigerators that you use on a daily basis are becoming smarter with the use of AI.
As a tech startup, it is important that you consider AI for your business processes if you intend to grow. Not using AI in your startup is like a fast food manager that decides not to sell burgers. Sooner or later, you would run out of business. In order to avoid degrading situations, get connected with Best Startup Consulting Firms in Chicago.
AI for your tech startup
Should you really consider using or incorporating AI in your startup? Let us consider why you should.
1. AI is the future
Now we might not be able to drive flying cars or live in floating cities but we can make the most out of what we have. AI is here and it would be foolish if you do not make use of it. What is more, big companies are investing millions in AI already.
Google has already acquired an AI startup called DeepMind. Elon Musk owns an AI company called OpenAi. Tuplejump and Turi have been acquired by Apple. Twitter, Samsung, Facebook and others have also followed suite in acquiring smaller AI companies.
This simply goes to show that AI is the future.
2. AI can help you save time
As a startup, it is important that the bulk of your time is spent on important activities like seeking new investors, building an online community and such similar things. However, there are some daily activities that just need to be handled. You can make use of AI to take care of these activities so that you would have more time on your hands.
3. You would get an Head start
While others are sleeping on AI and the benefits it has to offer, your tech startup is already on its way to be acquired by one of the big guns or been a tech giant all by itself.
AI is still in its early stages and there are still a lot of unlocked potential that is to be uncovered.
4. AI helps you understand your customer
With the use of analytics and insights you can tell a lot about your customer behavior. AI systems can help you collect and analyze a large amount of data that is eventually used in understanding customer behaviors and patterns.
For instance, you can use AI to tell whether your customers would like a certain service that you offer based on how these customers have reacted to a similar service.
5. AI helps you stay focused
It is more difficult to stay focused today than ever before. There are distractions everywhere, and there are different things that are craving your attention. A simple break to see Elon Musk’s latest tweet can drive you down a rabbit hole of spending the next hour on Twitter.
You can get rid of these distractions with the use of AI on your smartphone. Setting a simple reminder would give you the nudge to drop your phone and focus on your work. You could also use the voice assistant to take notes or type messages on the go without having to scurry about while looking for a pen and paper.
This would help you save up precious minutes that can be put into more productive activities for your startup.
6. The world produces too much data
There is an endless supply of data – Each Google search, tweet, Facebook update, Instagram upload and many other activities carried out online produces data. All of this data can only be made sense of with the use of AI.
That means that if you want a startup that knows its next move before its competitors you would need to employ AI.
Examples of Startups already using AI
You really do not have to be one of the big guns before you can use AI in your business. There are hundreds of startups that rely on AI to help them provide solutions to problems.
There is a startup in South America that mixes AI with food. AI is used by this startup to find the molecular structure of food after which it can help formulate diet options that meet the needs of their clients. This innovation can be pushed even further to help curb the problem of malnutrition.
Riminder is another example of a startup that uses AI. The company uses AI to match candidates to job openings based on certain internal and external factors.
Avaamo used AI to create chatbots that deal with customer service. These chatbots help to handle most of the customer service interaction with the company.
Netflix also uses AI amazingly well. The use of AI is one of the reasons why it is bigger than other networks like HBO and Hulu. Netflix uses AI in recommending TV shows and movies that might interest the viewer based on the kind of TV shows and movies that they had previously shown interest in.
AI is everywhere and you need to take full advantage of it. There is no need to be scared of it, instead use it to your advantage. If you want your startup to still be around in the next decade then you need to make the most out of AI. And this is possible if you associate yourself with Enkode Technologies, one of the brilliant Technology Startup Consulting Companies Chicago.
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