To future-proof your business, you, most likely, need AI data analytics for accelerated decision-making and responsive chatbots for improving customer experience. If not, your competitors will cherry-pick all your revenue.
Yet beating the clock, be meaningful with AI. It’s crucial to find out how to start an AI business to avoid legal hassles and gather a team able to deploy a valuable AI solution over a reasonable time, not to develop some “ghost” for ages. Let’s think about that together.
Do You Know All the Benefits of AI Integration?
At every turn, integrating AI technologies like machine learning, natural language processing, data analytics into your business strategy can future-proof a business.
Super-productivity. AI performs repetitive tasks, while your team focuses on something strategic. McKinsey claims that productivity almost doubles with AI.
Faster development cycles. ModernAI-powered automation accelerates return on investments, turning ideas into reality faster. New generations of AI tools will go even further by helping developers turn old business apps into new ones, saving 70% on upgrading costs.
Game-changing insights. Robotic algorithms can analyze huge datasets in real time and track hidden patterns.
Personalized customer experiences. By analyzing customer data and preferences, AI helps to create recommendation systems, synced between multiple platforms.
A study by Accenture found that most people, 91%, prefer to buy from brands that offer them things that match their interests and needs.
Market fit. According to Gartner’s forecast, AI is expected to become so mainstream by 2027 that its productivity will be recognized as a primary economic indicator of national power. So, mastering AI is inevitable to future-proof a business.
Which of these growth factors you’d like to get first? Your answer will help you shape the first steps in your AI integration to-do list.
Don’t Move Without a Long-Term AI Strategy!
We are going to play a long game when future-proofing a business, right?
That’s why we’d recommend you be careful with FOMO projects in the field of AI. FOMO (Fear of Missing Out) drives businesses to quickly adopt AI technologies to remain competitive and innovative. Speed is crucial here, as we’ve mentioned right from the start. Yet, if not accompanied by proper planning, AI integrations bring questionable results like those listed below.
- Hasty decisions about AI implementation. Among them are losing of direct control because of outsourcing AI computation or adopting in-house models without considering the potential risks and the need for skilled talent to support the technology.
- AI-washing. It’s when existing services are merely rebranded with AI labels without delivering actual value.
- Attending overpriced AI courses because of hype and low entry costs.
What’s interesting, FOMO is also a reason for the huge AI talent gap, especially in the USA. So, one of the proven lifehacks for future-proofing a business is global hiring. Be bias-free considering future AI team members and build an inclusive culture.
You can follow the example of IT staffing agencies, which not only hire worldwide, but also are very attentive to any specialist’s soft skill. Ideal candidates for successful AI delivery are those who are experienced enough to suggest the best solution from a technical point of view and ambitious enough to desire to impact a commercial result of the venture with their actions. They are not executives, but rather creators and pioneers by nature, and can carry out a high-quality risk assessment.
By the way, such agencies can help you find talent despite talent shortages and formulate requirements for AI-related positions even if you don’t have experience in AI yet.
In the next 7 years, it will not become easier to fill skill gaps, as the AI market will increase by about 20% every year. Therefore, we’d make hunting for true experts the first step of an AI integration strategy. This will help you not only show your trendiness to the market, but also revamp business operations, make customers happier, get deeper analytics, and meet other expectations you associate with AI.
Pick the Right AI Tech Stack to Future-Proof Your Business
We could suggest something like: Microsoft’s. NET Stack is a comprehensive framework for building AI applications, ChatGPT 4 is far smarter than ChatGPT 4 for building your chatbot around it.
But we are not going to compare any vendors as an AI tech stack is perfect when it aligns with your unique business goals, team’s proficiency, and budget. Are you a non-tech company aiming to master AI or a tech company, not specializing in AI development? Anyway, pick technologies together with your AI team. After that, use the checklist below for making a chosen tech stack sustainable.
- A good tech stack covers not your current and future requirements.
- Consider open-source and cross-platform solutions to stay independent of vendors and scalable.
- Select a tech stack that is easy to maintain and has a large community of developers who can provide support. Make sure the tech stack has good documentation and is stable.
- Consider the cost of licenses, hosting, and maintenance when choosing your tech stack. Look for a good value for money.
- If your project requires third-party integrations, a tech stack should support seamless integration with these tools. For instance, opt for the API-first approach and your software can easily “talk” to other services and technologies using APIs.
- Keep your project’s technology up to date by installing the newest versions, security updates, and bug fixes.
- If migrating from an existing tech stack, plan the migration carefully, minimizing disruptions and creating backups and rollback plans.
To future-proof a business, it’s a must-have to ensure that each AI tool used by your company is compliant with data privacy regulations such as GDPR and CCPA. Compliant AI is trained on diverse data representation to prevent bias, has clear documentation which explains all the data processing mechanisms, and undergoes regular monitoring for ethical implications. Many people already know that AI is capable of causing data leaks, misinformation and abuse, even if unintentional. But it’s possible to make your target audience loyal by providing a detailed Security policy.
