Artificial Intelligence (AI) is a hot topic. In fact, according to Demandbase, “Marketing executives predict AI will revolutionize their industry by 2020.” But, it’s used in more than marketing.
What does your firm need to do before implementing AI as part of its business operations? Here are four suggestions.
- Educate yourself on the areas within your firm that AI can make a distinctive impact, such as marketing, sales, and operations. In this resource from PC Magazine, there are a number of online resources to help you get started.
- What do you want AI to solve at your firm? After learning more about AI, identify where it will have the most impact on your services and operations. Consider this as a tool that should be leveraged across as much of your firm as possible, rather than it being used for one focus area.
- Data normalcy across many tools will be needed to maximize AI’s efficiency. If you’re gathering data about clients, marketing initiatives, sales efforts, and social media, but it’s not normalized, doing this up front will save you a lot of effort after AI implementation. What that means is the data you’re collecting has the same fields and utilizes the same data format. For example, email, first-name, last-name, phone, etc. fields should be called the same field name, formatted the same way (text, number, phone number, etc.) before importing the data into an AI tool.
- Do you have the internal capacity to implement this tool and to maximize its capabilities within a reasonable timeframe? If you’re unsure, speak with consultants to help determine your next steps. It’s also helpful to identify a test AI case to help you determine success metrics before full implementation.
In the end, you ultimately have to decide if AI’s right for your firm. If the technology will have a big impact on the business and its goals, then it might be something to consider. Remember, it’s not a quick-fix solution, but, rather a long-term commitment.