The AI Revolution: How to Use Artificial Intelligence to Drive Your Digital Business Forward

In a world where bits and bytes are the currency and music plays to the beat of algorithms, there is one force that is turning your digital business world upside down: artificial intelligence (AI).

In this new era, AI is taking centre stage in almost every aspect of digital business. From automated processes to personalised customer interactions, it is fundamentally changing the way businesses operate and grow. Find out in this article what you need to do to use AI in your business.

The AI Revolution: Faster, Better, Smarter

The digital business environment is becoming more and more complex. Harnessing AI skills to gain and maintain a competitive advantage is therefore vital. We are standing on the threshold of a new world in which AI is not just a tool, but an indispensable partner – one that can help you better understand the needs of your target audience and develop innovative solutions.

In the next few years, we will undoubtedly witness a continuous evolution that will see AI drive digital business to unprecedented heights. There are steps you can take now to harness the full potential of AI for your business in the future. You too can benefit from the AI revolution, from data-driven business strategies to operational process automation.

Digital Intelligence: I Know, Therefore I Am

Knowledge is power. But how much knowledge is necessary to create an AI? Let us take a look at OpenAI’s ChatGPT: it took 570 gigabytes of text data to ensure that the AI has an answer to every question (even if it is not always the correct one). In other words, ChatGPT processed around 300 billion words. That would take a person reading at an average speed more than 45,000 years.

Through deep learning, pure data becomes a neuronal network. This in turn processes your input and offers results in accordance with its training. The communication with text AIs is deceptively human-like and the speed with which results are delivered through prompts is impressive – not only in content creation, but in almost all areas of digital business. The AI models owe all of this to their solid data basis.

But it does not stop there. Just as humans learn through further information, AI also continues to develop through the supply of data – and this is where opportunities lie for the successful use of AI in your business. It is not necessary to create your own AI from scratch – fine-tuning is the keyword here.

Digital Intelligence: Mentoring or Funnelling?

Imagine AI as your new coworker. It comes in with a great amount of general knowledge, but usually only has a superficial, inferred understanding of your business processes.

New colleagues must first be provided with all the facts to be able to do their work effectively. So does an AI: it needs specific knowledge to properly complete its tasks, which it can only get from you.

However, a traditional mentoring approach makes little sense in the case of AI. You cannot just put someone experienced in front of the screen and have them answer all the AI’s questions patiently until it can do the work itself. Why not? Because there is a better way for the AI to gain knowledge: by directly gathering data.

AI’s great strength lies in its inhumanly fast information processing ability. Data goes in, intelligence comes out – the »Nuremberg Funnel«, jokingly invented almost 400 years ago, is finally a reality. Make the most of it!

The basic prerequisite is, of course, that your corporate data is appropriately prepared for the digital transfer of knowledge. This has to include the following:

• Clearly defined labels and categories: Your data should be clearly marked or tagged to signify its meaning. This allows the AI to recognise correlations between different data points and respond to them in a targeted way to improve its capabilities and perform specific tasks.
• Consistent data quality: The data must be free of errors and inconsistencies so that the AI is not guided by false information. Make sure you do not confuse the AI with typos, incomplete information or changing terminology to build a solid base for further development.
• Relevant information: The data characteristics should be closely linked to the goals of the AI and provide direct insights into essential aspects of the work at hand. This way, you can specialise the AI and achieve high-quality results.
• Accessibility and data organisation: Do you have an overview of all your corporate data? If not, then the AI will have a hard time processing everything in its neural network. However, there is a solution, even if you do not plan on using AI soon: PIM, MDM and DAM systems.

By thoroughly preparing your corporate data and following these basic principles, you can create an ideal basis for adapting AI to your specific needs in a targeted and effective way. This makes AI a valuable member of your team, capable of delivering tailored solutions to your business challenges.

It cannot be said often enough: do not neglect data security when using AI. Make sure that your data is protected from unauthorised access, manipulation or loss. Only use trustworthy providers and platforms for your AI projects and adhere to the applicable data protection regulations. A competent digitalisation partner with AI expertise can offer your company a lot of added value.

AI and Other Digital Business Trends: Get the Trend Book 2023 Now!

There is no doubt about it: AI is in the business world to stay. For more digital trends, advice on sustainable digital transformation, strategy and operations insights as well as everything else appearing on the digital horizon, download the new »Handelskraft Trend Book 2023« for free now!